Premium Bonds: Are they worth it? Discussion Area

ritchie871

Hi

Due to a redundancy payment, I was fortunate enough to put in the full £30000 just to see what happened. This was last July. After eight qualifying draws, I'd won £150. Dreadful. Compared to the approximate £800 I'd have got for leaving it in my Cahoot account. I know it's a flutter but it aint an investment in general.

Happychappy

I have had £20k in bonds for the past two years and in the last 12 months had four x £50 therefore a poor investment so after the june draw shall take it out :mad: might invest in new buildngs for poor threatened deprived immigrants who travel through seven other countries to get here, but hey ! that's another story but far better returns for the landlords.

Angelselondon

Hi

I have Premium Bonds, but this is how I do them.

I put the money I would use to buy a lottery ticket into a piggy bank, Wednesday and Saturday Draw plus scratch card, £3 a week.

When I have £100 I go to the post office and buy Premium Bonds.

I look at this way, it's a gamble, I like a flutter, I could buy a Lottery Ticket, but this way, if I need the money I can get it back.

I wouldn't purchase Premium Bonds as an investment strategy.

Leanne

edda

Angelselondon wrote: »

Hi

I put the money I would use to buy a lottery ticket into a piggy bank, Wednesday and Saturday Draw plus scratch card, £3 a week.

When I have £100 I go to the post office and buy Premium Bonds.

I look at this way, it's a gamble, I like a flutter, I could buy a Lottery Ticket, but this way, if I need the money I can get it back.

Funny you should say that.

I've just won £50 with a premium bond that cost me £100 - which I bought 2 years after the lottery started.

My OH spent £1 a week on a lottery ticket in those early days (now the spend is none). I declined and said I would put my money in bonds.

And it paid off - I have £150 in bonds and he's spent the £30 he won on buying £100 worth of tickets.

Not a saving strategy - just my little gamble.

azjh77

We've had ours for nearly 20 years...never won a thing! Not worth cashing in £10 now though.

susi333

ritchie871 wrote: »

Hi

Due to a redundancy payment, I was fortunate enough to put in the full £30000 just to see what happened. This was last July. After eight qualifying draws, I'd won £150. Dreadful. Compared to the approximate £800 I'd have got for leaving it in my Cahoot account. I know it's a flutter but it aint an investment in general.

This is quite incredible considering they (nsandi) say that on average, with maximum holding, you win 15 times a year. Are you sure they haven't got lost in the post ? Maybe you should 'phone them up or check online.

Paul_Herring

susi333 wrote: »

This is quite incredible considering they (nsandi) say that on average, with maximum holding, you win 15 times a year. Are you sure they haven't got lost in the post ? Maybe you should 'phone them up or check online.

.. clearly, for it to be an average, and since some people win more than average, some must win less...

susi333

Paul_Herring wrote: »

.. clearly, for it to be an average, and since some people win more than average, some must win less...

Of course, I'm well aware of that but THAT low? It seems extraordinary and I'd be curious to see how many wins the readers of this thread with maximum holding have been getting, Any with considerably more than 15 per year ?

Dan29

susi333 wrote: »

Of course, I'm well aware of that but THAT low? It seems extraordinary and I'd be curious to see how many wins the readers of this thread with maximum holding have been getting, Any with considerably more than 15 per year ?

My own experience FWIW - the equivalent of 19 £50 prizes in 5 months.

And here's another MSEer getting over the average

I agree with you that £150 after 8 draws is an incredibly low amount of winnings.

Lopo

dont have full holding.....11 wins in 5 months so far = 7% return net

cant forecast it,...its random luck