Best Place to put my money?

Extracool

Hi :j

Well I'm after a car that will cost me about £700 then insurance about 1k or more due to my age (17),I Currently have 250 stuck away in a flexy account with hsbc that gives me 7p each month.

I put away £250 each month but because i'm days away from turning 18 that should rise to £270,I'm going to be saving untill chrismas but where should i put the money?

I was thinking about getting Premium Bond but i have noidea what it is :rotfl:

suzyp1982

Premium bonds dont give you interest. Basically the more bonds (money you put in) you hold the higher CHANCE you have of winning money, you can hold upto £30,000.

So if you put your money in, you could win some (minimum of £50) or you might not win anything.

You say that you are putting it away until xmas, well why not put it into i high interest bond at a building society? that way you are guarenteerd to get money?

suzyp1982

p.s the draw for premium bonds happens once a month