best bank account or money saving..premium bonds?

Matthew1279

UK based . Interested to hear from those that know, a few quid from house sale, minus debts and relationships, renting on the cards. Not a jolly outlook, however, the pennies left would like to put monies into a bank account , would have to dip into it so nothing tied up. Just like to know thoughts, a decent bank account/  invest a little? total newbie really, likely place a bit into premium bonds.  

Stubod

Not enough info to offer any real advice.

Working, pensions, debts, age, expectations, income, expenditure??

Investing is very long term (10+ years), when are you likely to need access to the money?? Premium bonds work best if you can afford to "max out", that way you are more likely to at least get the headline rate. But if in doubt just go with the best savings account you can find

El_Torro

Winnings from Premium Bonds are tax free, so it makes sense to use them if you would otherwise be paying 40% tax on interest earned. Filling up your tax free interest allowance and making use of Cash ISAs generally gives you a better return than Premium Bonds. 

wmb194

Matthew1279 said:

UK based . Interested to hear from those that know, a few quid from house sale, minus debts and relationships, renting on the cards. Not a jolly outlook, however, the pennies left would like to put monies into a bank account , would have to dip into it so nothing tied up. Just like to know thoughts, a decent bank account/  invest a little? total newbie really, likely place a bit into premium bonds.  

https://moneyfactscompare.co.uk/savings-accounts/

Albermarle

Savings - All Guides - MoneySavingExpert

eskbanker

Matthew1279 said:

a few quid from house sale, minus debts and relationships, renting on the cards. Not a jolly outlook, however, the pennies left would like to put monies into a bank account

Flippancy aside, what sort of sums are you actually talking about, they're presumably neither 'a few quid' or 'pennies'?

Matthew1279

thanks for the trickle of useful replies, albeit nothing new learnt. But i sense a bit of 'been on here too long' vibes for me to gain any knowledge, will try elsewhere.

Emmia

Depending on how much you're talking about, you could do a mix of PBs, instant access cash savings and longer term investments like a S&S ISA, this would give you instant access to some money (instant access cash savings) slightly slower access (PBs) and hard to access (S&S ISA) 

This is the mix that I have and I pay into all three every month.

Bravepants

Matthew1279 said:

thanks for the trickle of useful replies, albeit nothing new learnt. But i sense a bit of 'been on here too long' vibes for me to gain any knowledge, will try elsewhere.

OK thanks for stopping by.

Ayr_Rage

A few quid to some is a less than £10,000, to me a few quid and the proceeds of a house sale would mean more than £250,000

@Matthew1279 unless you can be a bit more specific with sums involved and investment aims you are very unlikely to get any helpful advice.

Matthew1279

Emmia said:

Depending on how much you're talking about, you could do a mix of PBs, instant access cash savings and longer term investments like a S&S ISA, this would give you instant access to some money (instant access cash savings) slightly slower access (PBs) and hard to access (S&S ISA) 

This is the mix that I have and I pay into all three every month.

Sadly the S&S and ISA means nothing too me, PB's all gobbledgook - whether thats a word of not you get my gist. English please. As for amount certainly not even half of the 250 which was mention in the other post, sadly. But would like to know where i can place say around 30grand, and ideally not touch it for a few years -live within means. thoughts welcome.