MSE News: The seven deadly sins of premium bonds

Pendle_Gazza

Gorgeous_George wrote: »

It 'could' be you - if you gamble that 3% interest.

Anyway, if you still don't get it, I have neither the time nor the desire to convince you.

GG

I think it's you who doesn't get what Batchy is alluding to, GG. He/she acknowledges the savings account, but is quite happy to forsake that on some of his/her money for the chance of winning it big. It's an exceptionally slim chance admittedly, but 30 people somewhere out there are picking up a cheque for at least £25,000 every month.

And you can bet your bottom dollar that holder of bond 102YP979628 from Cumbria is now very glad he/she didn't have his/her £20K in a 3% savings account (well, at least until their life spirals out of control because of it ).

Batchy

Gorgeous_George wrote: »

It 'could' be you - if you gamble that 3% interest.

Anyway, if you still don't get it, I have neither the time nor the desire to convince you.

GG

I get it... im a chartered accountant (not being big headed by the way, im quite level headed and realistic) but it is not gambling.

Your saying anything other than something which has zero risk is gambling... please tell me now what has ZERO risk... according to you guys on here, not even CASH as it has inflation risk. CASH ok, What about theft, loss, exposure to borrowing it to others at short notice, emotional duress, Fire, impulsive buying etc.
Interest on a bank account has risk... so is that gambling, as those investors burned with icelandic banks... the councils who lost BIG.

Soon I will be trading Forex (enough said about that) now that has more in common with gambling, but its calculated and very high risk and complicated (at times), but more a statistical science on analysis and well controlled. I HOPE

I could put my money in a AA savings account now, but choose not to. I like a one stop shop as it suits me to do that, especially when i'll be looking at an offset, so it all needs to be together potentially... so i only compare to e-savings reward which just isnt the best, but then it doesnt make any difference in the future as it will be saving interest charged on a mortgage!! (again TAX FREE benefit @ 40%)...

Batchy

Pendle_Gazza wrote: »

I think it's you who doesn't get what Batchy is alluding to, GG. He/she acknowledges the savings account, but is quite happy to forsake that on some of his/her money for the chance of winning it big. It's an exceptionally slim chance admittedly, but 30 people somewhere out there are picking up a cheque for at least £25,000 every month.

And you can bet your bottom dollar that holder of bond 102YP979628 from Cumbria is now very glad he/she didn't have his/her £20K in a 3% savings account (well, at least until their life spirals out of control because of it ).

SPOT on... I was fed up of not winning anything, and being jealous of those who do... WELL, its like a competition, you have to enter it, to be in with any small chance. However small chance it might be... if its YOUR CHOSEN day... then so be it.