Premium Bonds

Alastair70 · Dec 19, 2024

I’d forgotten that a well meaning friend of my mums bought a couple of quids worth of premium bonds for me when I was born. Roll on over 50 years and an envelope landed on the doorstep today.

I’ve won the princely sum of £100

.

Looking forward to spending it on half a dozen bottles of wine, or more likely, three good ones. Happy Christmas mums friend, you’ve cheers me right up

Clint · Dec 19, 2024

I'm 56 years in and ain't won shyte...I was considering putting a few bob into it.
They recon 20k plus and you might get a good chance.

klaus · Dec 20, 2024

If you have Premium Bonds it's important to keep your address up to date.
My wife has some that go back to the 70s. And all numbers can be checked online.
Alas no prizes so far.

samale · Dec 20, 2024

Clint said:
I'm 56 years in and ain't won shyte...I was considering putting a few bob into it.
They recon 20k plus and you might get a good chance.

Money goes to money Clint. I have won nothing either. I am not bitter about it I promise

Clint · Dec 20, 2024

My friend Bill who is no longer with us had some,think he put 50k in,had regular prizes.

Covrich · Dec 20, 2024

I have some and my girlfriend has a lot.. I win the occasional £50, she wins like £1-200 every month it seems, the other month she won 5k!!!

I think it is one of those things where you can be above or below the rate and shes clearly winning it while the rest of us are below it

samale · Dec 20, 2024

Nice surprise @Alastair70. I have some but not sure how much. I think a few hundred

Clint · Dec 20, 2024

Funny saying that..."money goes to money ".

samale · Dec 20, 2024

Clint said:
Funny saying that..."money goes to money ".

It's used a lot mainly as bit of craic. Anyone wins anything in work normally that's all you hear. We have monthly pay day draws, then a big Christmas draw.

Stu · Dec 20, 2024

My friends at HMRC very kindly sent me a cheque for £325 this morning.

I will ensure it's spent wisely. Almost certainly avoiding duty in some way or another

matt. · Dec 20, 2024

Stu said:
My friends at HMRC very kindly sent me a cheque for £325 this morning.

I will ensure it's spent wisely. Almost certainly avoiding duty in some way or another

Could you mention my name to your pal at HMRC?

Re P Bonds; my brother in law who knows everything says their return is rubbish compared to an ISA. So of course I bought the max and win something almost every month. I'm ahead of an ISA return ATM. But guess it will balance out in the end.
Nowt for nowt as they say.
But the excitement and expectation is good for my karma.
At 71 I need all the excitement I can get. wink...

The Cat · Dec 20, 2024

Plus you can get hold of your money if you need it in 2 or 3 days.

Much prefer premium bonds to savings accounts.

Alastair70 · Dec 20, 2024

I’m not sure how premium bonds would ever be seen as financially wise. If the £1 had been put in a simple savings account paying 1% APR it would be worth 2 grand now. Who knows what it would have done in stocks and shares tracker.
Anyway, I’ll be blowing in my local wine shop tomorrow. Woohoo!

Leon103 · Dec 20, 2024

matt. said:
Could you mention my name to your pal at HMRC?

Re P Bonds; my brother in law who knows everything says their return is rubbish compared to an ISA. So of course I bought the max and win something almost every month. I'm ahead of an ISA return ATM. But guess it will balance out in the end.
Nowt for nowt as they say.
But the excitement and expectation is good for my karma.
At 71 I need all the excitement I can get.

I rather have put that £50k in a ISA, some good interest rates can still be found.

Davegase · Dec 21, 2024

My total winnings in 2023 were £1950, and this year £1425.
I check each month online and it's something to look forward to,
and there's always a chance of a big one

matt. · Dec 21, 2024

Davegase said:
My total winnings in 2023 were £1950, and this year £1425.
I check each month online and it's something to look forward to,
and there's always a chance of a big one

Snap. I guess it's the thrill of a big win. However remote.
I'll do the maths to work out my return.
If it's good, I'll let everybody here know.
If it's not, I'll keep quiet... wink...

Davegase · Dec 21, 2024

matt. said:
Snap. I guess it's the thrill of a big win. However remote.
I'll do the maths to work out my return.
If it's good, I'll let everybody here know.
If it's not, I'll keep quiet...

Even if you've got 50k to invest you can't just stick it all in an ISA in the first year. Initially that's why I went for premium bonds.
Once you start winning on a regular basis you start to think why bother moving it to an ISA.

matt. · Dec 21, 2024

£2,225 previous 12 months and that wasn't always with the max £50,000.
4.45%?
Comparable to an ISA plus the thrill of a possible and very unlikely big win. :roll:

Each to their own of course.
Quite appreciate the reasoning for not having them.

Leon103 · Dec 22, 2024

matt. said:
£2,225 previous 12 months and that wasn't always with the max £50,000.
4.45%?
Comparable to an ISA plus the thrill of a possible and very unlikely big win.
Each to their own of course.
Quite appreciate the reasoning for not having them.

Not bad. Didn't notice ISA rate had dropped, the new ones in April were about 5.65% (would need to check for def). I just create multiples, me, wife and kids.

Davegase · Dec 22, 2024

Leon103 said:
Not bad. Didn't notice ISA rate had dropped, the new ones in April were about 5.65% (would need to check for def). I just create multiples, me, wife and kids.

The way I look at it, if I don't win as much as I would have earned in an ISA, I'm paying the difference for the chance to win big.
And I don't need to keep an eye on interest rates and move things around if they change.
If I was much younger I would consider ISAs.

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