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Money Saving Expert (MSE) for Spain finances

Money Saving Expert (MSE) for Spain finances

Old Jun 12th 2023, 10:06 pm
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Default Money Saving Expert (MSE) for Spain finances

Money Saving Expert (MSE) guides, newsletter and forums are an amazing resource to live in UK.

In Spain I've seen many insurance/broadband/mobile comparers and similar. Unfortunately, I cannot find an equivalent in Spain to MSE independent guides. Even less one that is updated with changes in law and guidance.

Do you have any you trust? In Spanish or English, it does not matter.
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Old Jun 13th 2023, 4:16 am
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Default Re: Money Saving Expert (MSE) for Spain finances

Look up "Fraude Preferentes", google pulls up about 1.3 million links.

To run an MSE style web site you need a well regulated market and equitable products to compare.

There are sites like tucapital.es or even ocu.org, but the best advice for anyone thinking of financial products in Spain, is read the small print, read the very small print and then read the unreadable print, then think of the unimaginable........

Last edited by rbs_gb; Jun 13th 2023 at 5:00 am.
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Old Jun 13th 2023, 7:13 am
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Default Re: Money Saving Expert (MSE) for Spain finances

Originally Posted by rbs_gb
Look up "Fraude Preferentes", google pulls up about 1.3 million links.

To run an MSE style web site you need a well regulated market and equitable products to compare.

There are sites like tucapital.es or even ocu.org, but the best advice for anyone thinking of financial products in Spain, is read the small print, read the very small print and then read the unreadable print, then think of the unimaginable........
😂
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Old Jun 13th 2023, 8:06 am
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Default Re: Money Saving Expert (MSE) for Spain finances

Rankia.com - not exactly the same thing but close enough.

If you're interested un bank accounts there's this website which is a bit home made but good enough.

Then there's the government's comparison website for utility bills.
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Old Jun 13th 2023, 7:43 pm
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Default Re: Money Saving Expert (MSE) for Spain finances

There you go NotAName, at least 5 sites, what do you think?
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Old Jun 14th 2023, 9:02 am
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Default Re: Money Saving Expert (MSE) for Spain finances

Thanks for all the helpful resources you shared.thwy seem all very useful if a bit siloed. From the consumer union (ocu) to the more financial side (eg, Rankia)!

And yes! Spain had quite a recent streak of "institutional quasi fraud" with the preferentes stuff
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Old Jun 14th 2023, 8:40 pm
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Default Re: Money Saving Expert (MSE) for Spain finances

Originally Posted by NotAName
Thanks for all the helpful resources you shared.thwy seem all very useful if a bit siloed. From the consumer union (ocu) to the more financial side (eg, Rankia)!

And yes! Spain had quite a recent streak of "institutional quasi fraud" with the preferentes stuff
The preferentes issue affected over 700,000 people and trod that fine line between mis-selling and outright fraud. In our own family one lost 80k euros and although La Caixa pays a compensatory notional interest he will never get any of the capital back and when he dies, so does the compensation payment. Many investors have died without any compensation at all.

Rankia highlights the point I made above. Whereas MSE would say "the top 3 year fixed rates are x y and Z", and give guidelines, what Rankia/TuCaptial offer is a huge list of products which can be very complicated for the average person. It's impossible to get a general comparison. Fixed rate bonds for example dried up after the banking crisis when the interest rate dropped to zero. Nowadays you will see products "renta fija" but take great care every one I've ever looked at has a market based component, so although they give a fixed return the underlying capital is at risk! I've met more than one person who thought "renta fija" was some kind of new "plazo fijo". To invest in financial products is more complicated and requires time and care.

It is possible for the public to invest in state bonds, but that is a whole different process. Some banks offer products based on state bonds, but then expect the bank to take their commission of course!

Last edited by rbs_gb; Jun 14th 2023 at 8:46 pm. Reason: Typos
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Old Jun 18th 2023, 1:56 am
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Default Re: Money Saving Expert (MSE) for Spain finances

Rankia is better if you read the articles in conjunction with the forum, there's usually a thread about the same subject.
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Old Jun 20th 2023, 5:54 pm
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Default Re: Money Saving Expert (MSE) for Spain finances

Sometimes being poor is not such a bad thing!
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