Premium Bonds

[jowwy]

I'm starting to put money in monthly......how many premium bonds have people got and are you finding them worth it??

TIA

 

[DaveReading]

Good article here:

Premium Bonds: are they worth it? - MoneySavingExpert

 

[Brandane]

how many premium bonds have people got

Are people really going to share this information with random strangers on-line?
I have some PB's and I am happy with them. I look on them as having multiple lottery tickets but you get to keep the stake money. And with the current interest rates available in bank savings accounts, and even ISA's (does that stand for Interest-free Savings Account?), they are a reasonable alternative.

 

[welsh dragon]

I have some PB's as well. So far I have got more money Per month form them than I could ever get in interest rates from any banks.

But I only have them due to the dire interest rates from banks. If that changes then I will move what I have to a better deal.

 

[potsy]

Had my PBs for around 12 months and have only received 2 x £25 prizes so far, certainly not enough to get me to the 1% rate.

Will stick with them as there's bugger all else available without risk.

 

[CanucksTraveller]

I have a smallish amount that were bought for me when I was born, they've never won anything and I'm approaching 50 now.
My main savings just sit in a bank, it doesn't make anything there either but I don't view savings as investments, they're more like an insurance. No doubt you can make a bit off your savings if you invest wisely but it's never struck me as being especially lucrative at the kind of numbers we'd be talking about here.

 

[ianrauk]

I have a fair amount in PB's stashed. It's not for making money rather then somewhere to put my saved money.

 

[welsh dragon]

I have made about £175 in the last 8 months so I am quite happy with that.

 

[jowwy]

Are people really going to share this information with random strangers on-line?
I have some PB's and I am happy with them. I look on them as having multiple lottery tickets but you get to keep the stake money. And with the current interest rates available in bank savings accounts, and even ISA's (does that stand for Interest-free Savings Account?), they are a reasonable alternative.

was looking at was it high, medium, low....not actually monetry value, but its to what people would like to share

in a PB v ISA thread people have actually stated how much in money they have invested, so obviously its not a biggy for them, i mean they are not sharing their address and bank details

 

[Brandane]

in a PB v ISA thread people have actually stated how much in money they have invested, so obviously its not a biggy for them, i mean they are not sharing their address and bank details

I wasn't really considering it from a security point of view. More like humility, something sadly lacking in the modern "look at me; look what I've got," willy waving society. Quite a bit of it goes on on this very forum. I wouldn't even discuss my financial situation with close family members. No-one's business but mine. Heading off topic though, so back to PB's......

 

[Flick of the Elbow]

I bought a lump sum of PB’s earlier in the year, basically my year’s pension withdrawal. I chose PB’s because they are safe and I can easily cash some of them in as needed. Plus they have the extra fun of a potential big win. Hasn’t happened so far, just two £25 wins, but that’s ok, mainly I just need them to be safe and available.

 

[jowwy]

I wasn't really considering it from a security point of view. More like humility, something sadly lacking in the modern "look at me; look what I've got," willy waving society. Quite a bit of it goes on on this very forum. I wouldn't even discuss my financial situation with close family members. No-one's business but mine. Heading off topic though, so back to PB's......

i will always get some sort of willy waving on forums or social media, back in the day it was boasting between mates, now its boasting all over the internet. You just have to accept that, even on here we boast with the N+1 scenario

 

[Arrowfoot]

There have been at least 2 threads on this and looking at a number of posts, I am just wondering if people are aware what it is.

It is not for you if

• You want a regular income
• You're looking for guaranteed returns
• You're concerned about inflation
• You want to earn interest on your capital

The pool interest of 1% becomes prizes which was attractive in the past.
The chances are 34,000 to one now. They has been at least one adjustment in terms of winning, so the chances have been reduced.

So in essence there is no mechanism to protect the value of your capital if there is inflation. So do not leave it there if that is going to be your reserve.

As every £1 equates to 1 ticket. Have a small as capital to be part of the jackpot each month. £1K is fine. Who knows, you might touch the big one. Put the rest of your hard earned savings in various funds such as Vanguard etc.

 

[MontyVeda]

If I happen to have a couple of hundred left over from the previous payday, I'll bung it into my PBs. I don't have them to make money... it's just somewhere to put some savings that are just out of immediate reach. Rainy day cash

 

[jowwy]

There have been at least 2 threads on this and looking at a number of posts, I am just wondering if people are aware what it is.

It is not for you if

• You want a regular income
• You're looking for guaranteed returns
• You're concerned about inflation
• You want to earn interest on your capital

The pool interest of 1% becomes prizes which was attractive in the past.
The chances are 34,000 to one now. They has been at least one adjustment in terms of winning, so the chances have been reduced.

So in essence there is no mechanism to protect the value of your capital if there is inflation. So do not leave it there if that is going to be your reserve.

As every £1 equates to 1 ticket. Have a small as capital to be part of the jackpot each month. £1K is fine. Who knows, you might touch the big one. Put the rest of your hard earned savings in various funds such as Vanguard etc.

Luckily im not worried or concerned by any of the bullet points.