Premium Bond Calculator Discussion

Former_MSE_Dan
Former_MSE_Dan Posts: 1,593 Forumite
Combo Breaker First Post
in Savings & investments
This thread is specifically to discuss the
Premium Bond Probability Calculator itself
It's been updated with the new £25 prize and other April 2009 changes


To discuss premium bonds themselves, see the Premium Bonds: Are they worth it? Discussion linked from the Premium Bonds: Are they worth it? Article

To take part in this discussion, click reply.
Former MSE team member
«134567

Comments

  • purch
    purch Posts: 9,865 Forumite
    I don't want to take part.............



    Bumpy Bumpy ;)
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • baby_boomer
    baby_boomer Posts: 3,883 Forumite
    First Post First Anniversary Combo Breaker
    I've always thought you had to be slightly dippy to invest in Premium Bonds.

    Now that the difference in the rates payable on PBs and the rates available in the savings market is 3% & in the stock market even more you have to be even madder.

    Higher rate taxpayers, the natural former friends of tax free PB prizes, should switch to income investments inside ISAs if they have any ISA allowance left.
  • Jonbvn
    Jonbvn Posts: 5,562 Forumite
    First Post First Anniversary
    What's to discuss? They were a poor form of savings previously, and now they're even worse!
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
  • Jonbvn
    Jonbvn Posts: 5,562 Forumite
    First Post First Anniversary
    Furthermore, MSE Martin let us know what he thinks of PB's in todays Telegraph.

    "You're Fired!"
    The chance of winning a prize on Premium Bonds is at the lowest ever level
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
  • ***xyz***
    ***xyz*** Posts: 307 Forumite
    First Post Name Dropper First Anniversary
    Maybe, some people just like to have Premiums Bonds.

    Maybe, some people don't worry about earning £10, £20, £30 interest per month.

    Maybe, some people like to put their money into stocks and shares, others into Gold, others under the matress.

    At the end of the day, it's not right or wrong, good or bad whether an individual decides to put their money into Premium Bonds.

    They might win 10K, they might not. Shares might go up, they might not. Interest rates might go up, they might not.

    I have them. I like them. I don't stay awake at night wondering if I could have made a couple of extra quid a day by putting the money somewhere else.

    :beer:
    Your = belongs to you
    You're = you are
  • Hungerdunger
    Hungerdunger Posts: 964 Forumite
    First Post First Anniversary Combo Breaker
    ***xyz*** wrote: »
    At the end of the day, it's not right or wrong, good or bad whether an individual decides to put their money into Premium Bonds.
    I quite agree - just so long as they realise it's not a sensible place to put your money, if you really do need as much interest or "prizes" as possible
    "The trouble with quotations on the Internet is that you never know whether they are genuine" - Charles Dickens
  • realraw
    realraw Posts: 3 Newbie
    why does the calculator only go to 10 years? a lot of people have bonds for over 10 years.
  • chuggy53
    chuggy53 Posts: 1 Newbie
    I had ISA's (shares) and a bunch of money invested elsewhere ......my so called 'advisors' and experts investing my money nanaged to lose 10% of my monies whilst I went backpacking around the world.
    I took the remainder out and boughtthe max entitlement of PB's
    ......I won hte usual £50/month fr 4 or 5 months, but for the last 10 months I havent won a THING
    ...but at least I still have my capital, eh? :roll:

    maybe I'm just unlucky

    has anyone calculated the chances of NOT winning in a 12 month period??????
  • Hungerdunger
    Hungerdunger Posts: 964 Forumite
    First Post First Anniversary Combo Breaker
    edited 4 June 2009 at 10:00AM
    chuggy53 wrote: »
    I had ISA's (shares) and a bunch of money invested elsewhere ......my so called 'advisors' and experts investing my money nanaged to lose 10% of my monies whilst I went backpacking around the world.
    I took the remainder out
    But until that moment you hadn't actually lost any money; it was just that the value of your shares was lower than before. If you'd held onto them for a few more years it's quite conceivable that they would have provided you with better "winnings" than your Premium Bonds.
    chuggy53 wrote: »
    has anyone calculated the chances of NOT winning in a 12 month period??????
    Yes, the calculator referred to in Post #1 does this.
    "The trouble with quotations on the Internet is that you never know whether they are genuine" - Charles Dickens
  • P4POB
    P4POB Posts: 1 Newbie
    Would it be possible to extend the facility to display the odds of winning for a couple who have £30000 each invested in PB's (i.e. £60000 total)
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