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Putting into Premium Bonds
CTT_2
Posts: 403 Forumite
I had thought about putting my Stooze pot which will be up 65k shortly all in premium bonds. Surely with that amount money I would would win something. Any thoughts...
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Comments
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You can put max of £30K into Premium Bonds.
Lots of discussions about Premium Bonds on the Savings forum.0 -
Hi - there is a short discussion thread on it here (3 posts) where I documented my thoughts on it...
http://boards.fool.co.uk/Message.asp?mid=9594259&sort=wholeAuthor of the first Stoozing FAQ on the Internet and Creator of the SOA & Snowball calculators at Lemonfool.co.uk0 -
I am sure you will win something and you may be lucky and win a lot but statistically you will earn more in a high interest account.CTT wrote:I had thought about putting my Stooze pot which will be up 65k shortly all in premium bonds. Surely with that amount money I would would win something. Any thoughts...
It's a fun way to invest though...0 -
Your "stake" money, or the money you are "betting" with, is £1,140 which would be the normal return for a basic rate tax payer who stoozes £30K for 12 months with ING Direct.CTT wrote:Surely with that amount money I would would win something. Any thoughts...
Makes you think a bit, doesn't it?0 -
Hi,
I had 15k tied up in premium bonds for nine months. I won £250.
I still have bonds - just not to the tune of 15k.
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I have over 50k limit in my stooze pot. This money is in my offset mortgage account, my mortgage account balance is now £0 so I pay no interest. I did have an excess of several thousand pounds in the a/c but this is being transferred into my web accounts (paying 4.75%). Just started a cash ISA (5%), so excess money will be going into that, also started a regular saver at 7% so money will be going into that. Still leaves me with an excess so I will be purchasing Premium bonds shortly. I will be applying for another card next month, I know I need to start paying back some of the cards soon but this is all in hand, any money I use for ISA/Premium bonds will be committed with introductory period end dates in mind.0
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I have decided to leave the money in my Cahoot bonus account and at least I know what to expect. However I thought about putting it in the stock market but that is too much of a gamble for me.
I thank you all for your valued input.0 -
A wise choice as far your initial £30K contemplation. However, a £5K "punt" wouldn't make too much of a dent in your sizable stooze pot interest now would it?CTT wrote:I have decided to leave the money in my Cahoot bonus account and at least I know what to expect.
An absolute no-no with stoozed money in my opinion - but I think you already know that.CTT wrote:However I thought about putting it in the stock market but that is too much of a gamble for me.0
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