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Stoozing With Premium Bonds

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Comments

  • ses6jwg
    ses6jwg Posts: 5,381 Forumite
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    Any wrote: »
    My sister had £90k in bonds... and they won every month.
    Sometimes just £250, sometimes £500...
    I don't think there was a month they went below £200 though...

    That's interesting, the maximum you are allowed is 30k.
  • Any
    Any Posts: 7,958 Forumite
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    ses6jwg wrote: »
    That's interesting, the maximum you are allowed is 30k.

    Sister, Husband, baby.... that is 3x £30k.
  • bazster
    bazster Posts: 7,436 Forumite
    1,000 Posts Combo Breaker
    This is the best way to invest in premium bonds:

    (i) put all your money in the highest-interest account you can find.
    (ii) when the interest is paid, withdraw it and take it to a casino.
    (iii) put it all on your favourite lucky number.

    A gamble? Yup, but better odds than PB's...
    Je suis Charlie.
  • CannyJock
    CannyJock Posts: 3,838 Forumite
    1,000 Posts Combo Breaker
    If she had the maximum of £30k that's a decent 8% return even at only £200 per month.

    If it was spread over other family members then it drops to a 2.6% return.
    EDIT: Aha, it was :)

    She's the exception though. Any time there's been a look at premium bonds as a place for your stooze pot, the analysis has always come up as it being a bad bet.
    "A child of five could understand this. Fetch me a child of five." - Groucho Marx
  • Any
    Any Posts: 7,958 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    CannyJock wrote: »
    If she had the maximum of £30k that's a decent 8% return even at only £200 per month.

    If it was spread over other family members then it drops to a 2.6% return.
    EDIT: Aha, it was :)

    She's the exception though. Any time there's been a look at premium bonds as a place for your stooze pot, the analysis has always come up as it being a bad bet.

    Of course. The same as playing a lottery really - 2.6% is not too bad and you have the chance of winning the big prize...
    I think it was mainly about that rather then anything else.
    And it was when some of the banks went bust so I think she was looking for security for a year or so rather then anything else..

    Those two put together and she was happy with where the money were. They are no longer there.
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