NS&I savings to ...where?

clareboy

I recently put £5000 in the ns&i premium bond saving account but now the interest has dropped, where shall I move it?

[Deleted User]

Hi,

do you mean the income bond?

Albermarle

Premium bonds remain relatively competitive for an easy access type account . so probably best left where they are .
If you mean the Income bonds which have dropped to near zero , then maybe change them to Premium Bonds. 

Polly05

It hasn't dropped yet....? 

whitesmith

If you mean premium bonds they I would leave the money there - the interest rate has not dropped yet but even when it does it will be 1% (not guaranteed of course) and I would then still leave it there.

If you mean income bonds then these are dropping to nearly zero and I would move the £5000 to premium bonds.

Retireby40

There really isnt much point moving money around for the difference of 20 quid over the course of a year. 

People get caught up on opening 10 different accounts and moving money around and trying to make the most of things but for what you gain youd just be better drinking a bottle of beer less a month.

1.0% moving to get 1.2% or whatever is a waste of time especially if its £5000. 

Leave it where it is. The time and effort it takes to chop and change is time spend and accounts for something. What price do you put on your time?

Eco_Miser

Retireby40 said:

People get caught up on opening 10 different accounts and moving money around and trying to make the most of things but for what you gain youd just be better drinking a bottle of beer less a month.

Can you please explain how to drink minus one bottle of beer?

Martin_the_Unjust

Eco_Miser said:

Retireby40 said:

People get caught up on opening 10 different accounts and moving money around and trying to make the most of things but for what you gain youd just be better drinking a bottle of beer less a month.

Can you please explain how to drink minus one bottle of beer?

Send me £2 to buy a beer, if I then don't buy one we are, on average, both a quid better off!
😉

Eco_Miser

Martin_the_Unjust said:

Eco_Miser said:

Retireby40 said:

People get caught up on opening 10 different accounts and moving money around and trying to make the most of things but for what you gain youd just be better drinking a bottle of beer less a month.

Can you please explain how to drink minus one bottle of beer?

Send me £2 to buy a beer, if I then don't buy one we are, on average, both a quid better off!
😉

I'll keep the two quid, thanks. I was hoping someone would explain how to get the other two quid by not drinking another pint.

Retireby40

Eco_Miser said:

Retireby40 said:

People get caught up on opening 10 different accounts and moving money around and trying to make the most of things but for what you gain youd just be better drinking a bottle of beer less a month.

Can you please explain how to drink minus one bottle of beer?

If you dont drink beer then a coke less, or a footy bet less a week. Or a takeaway less. Most people spend so much time trying to move money around to gain an extra 10er a month instead of just adjusting their spending minimally to make the difference up. 

Very similar to the people who when changing holiday money are happy to drive 20miles to a place offering a slightly better rate only to realise what they spend in time and petrol basically cancelled out there benefit.

whitesmith

...or have your central  heating on for 20 milliseconds less a week ...