Premium Bond Winner ?

St8_2

mayb wrote: »

No - the point is I get the point but still prefer to have this money in Premium Bonds. - My savings account would give me the opportunity to win big time if I bought lottery tickets with the interest, but I would lose the money if I didn't win. I could of course put my money in savings account and put the interest into Premium Bonds. I would then be gambling with the interest and I still get to keep that money. I will think about it. Cheers

But if you dont win with premium bonds you loose the money aswell.

And after a year your money is worth less in value because of inflation. So using a savings account means you can gamble the extra interest earnt and not devalue your money. Plus the stakes are higher gambling the extra interest in lottery tickets or similar.

I am really against premium bonds now as they are stealing peoples money they would make from interest and keeping it for themselves. They share some of this interest for people to "win". But you are only a winner if every year you win more than you would make in a savings account. And with only very few high tier prizes the chances are you just wont.

They are taking advantage of peoples need to gamble and to take a chance at winning big. Everyone should use the interest to gamble on something else.

mayb_2

I think you are assuming that people do not make a choice when they put their money into bonds.

Having been thoroughly ripped off with my mortgage endowment plan and my savings plan for my pension I would rather put my money where it can't be touched by anyone but me - I don't want to 'invest it' in any of these things relying on stocks and shares. We have yet to feel the full effect of the Northern Rock fiasco and the subprime market. I saw that one coming yet many of the 'experts' on here did not agree with me at the time. I have money in cash ISAs amd some in Premium Bonds. The ISAs are safe but the bonds are more interesting. I have won enough over the past two years to mean I haven't particularly lost out to this. If this or my attitude to bonds change I can move the money elsewhere. No sweat - it is always a choice.

james87

has anyone had their prizes for this month delivered yet? as myne has still not come.

M3_Sussex

james87 wrote: »

has anyone had their prizes for this month delivered yet? as myne has still not come.

No, not yet. However, with Christmas post etc., I'm not surprised.

isofa

M3_Sussex wrote: »

No, not yet. However, with Christmas post etc., I'm not surprised.

Likewise, probably won't see it until January with the post as it is, maybe they'll save it up and add it to the million I'll win in the New Year :cool:

mayb_2

That's the spirit!

Belfastmoneysaver

Holding £100 (yes just 100 not 100k) of bonds since last year, got a cheque yesterday for £50. Anybody want to work out how long that would have taken in a bank account?

Crabman

Belfastmoneysaver wrote: »

Holding £100 (yes just 100 not 100k) of bonds since last year, got a cheque yesterday for £50. Anybody want to work out how long that would have taken in a bank account?

Using the Savings Calculator - 6 years and 8 months (assuming the best 6.41% interest rate)

Phaelok

'Holding £100 (yes just 100 not 100k) of bonds since last year, got a cheque yesterday for £50. Anybody want to work out how long that would have taken in a bank account?'

Well i presently have over £2100 since February this year and have won 0! I've decided that I will wait two more months before I withdraw it all and stick it in an ISA. I would be happy even with £50! =(

isofa

isofa wrote: »

Likewise, probably won't see it until January with the post as it is, maybe they'll save it up and add it to the million I'll win in the New Year :cool:

mayb wrote:

That's the spirit!

Arrived this morning and I got an extra £50, must have been drawn late :beer: