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Moral Dilema - Save or Pay Debts
Comments
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sourcrates wrote: »Really ???
Never won a bean on it myself, mind you I don't have 40k of bonds, so that may be why lol
Anyone holding a substantial number of PB's will win many small prizes. I myself have a good number (not £40k's worth) of bonds and I've won £50 in more months than I've not won, so I reckon the OP should be putting the winnings into paying off his CC debt rather than spend his capital to do so."There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0 -
As an alternative to premium bonds, you might also read articles in another section here about various bank accounts which pay interest in the range 3 to 5% for certain balances (£2000 to £5000).0
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FIRSTTIMER wrote: »thanks....agreed.....I will be keeping the savings and just putting all my income to the card....hopefully paid off by Julyish
It will look good if you can demonstrate a pattern of paying off debt and not spending on credit cards. Is the amount you have saved enough to get your foot on the ladder?Debt LBM (08/09) £11,641. DEBT FREE APRIL 2021.
Diary 'Butti's journey : A matter of loaf or death'.
Diary 2 'The whimsical tale of the Waterbed of Debt' 48% off mortgage
'one day I will be rich and famous…for now I'll just have to settle for being poor and incredibly sexy'. Vimrod Member of MIKE'S :cool: MOB0 -
sourcrates wrote: »Really ???
Never won a bean on it myself, mind you I don't have 40k of bonds, so that may be why lol
I won £25 this month...first time ever. I was so excited I reinvested it.
OP, keep the premium bonds, pay off the debt as fast as you can. Invest the winnings each month back into the bond or some other high interest account.Debt Free! Long road, but we did it
Meet my best friend : YNAB (you need a budget)
My other best friend is a filofax.
Do or do not, there is no try....Yoda.
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FIRSTTIMER wrote: »I have won £50/75 every month since February 2015 which isn't too bad
If you are winning £800 a year thats 2% tax free interest, there is a new home buyer isa worth a look0 -
I can buy with the £40k as a rough 20% deposit for a house of say circa 180-200k0
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