Premium Bond Winner ?

Ivkoto

https://youtu.be/q1EcrlFiwP4?si=vqbwuq6BOrMmPB5S

stuartp2000

Ivkoto said:

https://youtu.be/q1EcrlFiwP4?si=vqbwuq6BOrMmPB5S

It's personal choice.

If I put my money in the bank I can earn 5% but already have other savings so will pay tax on interest, I pay 40% tax and am reluctant to give up more of my income to HMRC.

If I put in an ISA its may grow at what 8% but it might lose value, I have funds going to ISA for investments.

If I pay off the mortgage the money is gone and I cant get back for an emergency if needed (I am in over pay the mortgage challenge).

If I put in the pension it again is held up for 15 years (Time until I require it)

So balance is, I do all of the above and month investing in premium bonds is where some savings that are easily accessible and that I don't want to earn interest on for tax purposes.

As with most things it's personal choice and as long as you do research and do what it right for you then really other peoples views / opinions count for little. 

ps I do watch all of James You Tube videos so had seen this one.

Primrose

I think you're doing the best you can.  You've researched all your options and come up with the best compromise which works for you. The finsncial world is too complex for us to get a perfect solution every time.  At least you,re not smoking, gambling or otherwise frittering your precious savings away!

Dave1979

£500 on a £15k holding this month. Working out about an equivalent of 10% interest in the last 12 months

happymum37

£75 on childs £7k holding
0 on other child £7k holding
0 on £17k ours

Worst month in a while

Etccarmageddon

Zero on a £50k holding, when the app told me that I was surprised and thought it might be a fault.  Same for my wife.  Same for my mother !    What are the odds of that?

Etccarmageddon

bobby111111111 said:

£50 on full holding, garbage.

If that was garbage, then what would you call my family's!

eskbanker

Etccarmageddon said:

Zero on a £50k holding, when the app told me that I was surprised and thought it might be a fault.  Same for my wife.  Same for my mother !    What are the odds of that?

Chances of a blank month with a full holding are roughly one in ten, so blanks for three in the same month will be about one in a thousand.

Novice_investor101

I’ve got £10k put aside to pay for landscaping the garden sometime in the next couple of years so put it in PB’s again. Won nothing both January & February. 

Etccarmageddon

eskbanker said:

Etccarmageddon said:

Zero on a £50k holding, when the app told me that I was surprised and thought it might be a fault.  Same for my wife.  Same for my mother !    What are the odds of that?

Chances of a blank month with a full holding are roughly one in ten, so blanks for three in the same month will be about one in a thousand.

So that means one in every 10 months we should have a blank one each ?  Interesting!  Never happened before and my mother has had the full max £30k then £40k then £50k for decades!