Premium Bonds 4 August 2005 at 3:37PM edited 30 November -1 at 1:00AM in How much have you saved? 31 replies 6.2K views

SPARKLYBLUE_2

Hi! This is my first post, however have been a "moneysaver" addict for a long time now.
After taking Martin's advice, I used my 0%credit, not in a high interest account but bought some premium bonds, and lo and behold 6 months later £100 came flying through my post!
Not bad for doing nothing! so I re-invested it, just have to wait and see.
Anybody else had any luck!

lipidicman

Nice one, better 'average' returns with a savings account though!

Lazy_Ike

SPARKLYBLUE wrote:

Not bad for doing nothing! so I re-invested it, just have to wait and see.
Anybody else had any luck!

Welcome Sparklyblue
As usual there is good advice to found in MSE regarding premium bonds. However what ever the return in relation to savings banks, there is always that 'chance' of the 'big one'. I have a reasonable holding, and have had better than average/saving bank returns both last year, and this year. However not as lucky at one of the million winners in August. With a holding of £10008, and bonds purchased in June 05 (so August was their first elligible draw month) they hit the big one!

ManAtHome

You don't wanna win a million - your 'end of stooze' date would probably slip your mind and you'd end up paying interest.!!

More seriously, I've found PBs pretty good, but only because I pay higher rate tax. Think I'm close to 'average luck' - been better this year due to interest rate increases from back end of last year. At least you've ended up with a few free PBs, and may get more before you need to repay the CC - good luck.

It's really just an alternative to putting the cash in a monthly interest account and using the interest to buy lottery tickets - anyone tried this.?

lipidicman

There was a debate on the savings account/lottery tickets idea. I cant remember which came out better, I may need to do a search in a bit.

'You don't wanna win a million - your 'end of stooze' date would probably slip your mind and you'd end up paying interest.!!' ManAtHome

I like your thinking. It would still bother a stoozer, wouldn't it?!

ManAtHome

Think there was one about the maths/chances, I suspect if anyone's gone the lottery route (or the PB route) and won will be sat on a beach rather than in front of a PC.

itgirlinuk

I tried to find the moneysaving article about Premium Bonds...But cant find it on this site. Can anyone help??

Thanks in advance,

SPARKLYBLUE_2

Hey! thanks everyone for replying to me,going to buy some more for another 6 months, and sit tight! mmmmm wouldn't it be great Martin's first millionaire! ah well we can all dream!bye for now! :j :rotfl:

thriftychick

I have just bought £1,000 of PBs too, on my virgin credit card at 0% naturally! Its not costing me anything so I thought why not see if I can think lucky this year.

SPARKLYBLUE_2

looks like we are on the same wave length THRIFTYCHICK,I've got till next Jan with my new lot! so I'll cross my fingers for you too!I expect after this ERNIE will have a deluge of new investors,and we all have the same chance. Last time I won was £30 when I was 8!! mind you that's alot when you are young. bye again

john269

I use to have £500 in premium bonds for about 1 and half years. I never won a thing though so I then pulled the money out and spent it as I needed it at the time.