Reply With QuoteI'm guessing the million pound winners would disagreeOriginally Posted by Chris_in_the_UK
It's not worth bothering, seriously.
When you look long into an abyss, the abyss looks long into you.........
I'm guessing the million pound winners would disagree
Couple of cheques arrived for me last week for premium bond wins.........£25 each but better than sweet FA that the bank were giving. As I’ve said earlier, a good place to keep cash but not the best investment out there unless you win the million pound prize!
Paul
I agree with those comments.
We all know there are higher earning places to put money but not many would be as safe as PB. If you can afford to have PB as well as other investments there is always the chance of winning one of the larger prizes. We view ours as a bit of fun each month, seeing what we have, or haven't won while other investments provide more income.
Perhaps - % wise it is not worth the invest.
I am sure lottery ticket winners would agree with you though.
When you look long into an abyss, the abyss looks long into you.........
Gave up with the lottery years ago😂
Certainly understand what you mean though, probably got a better chance of being struck by lightning
If it's your only investment then maybe. But as a sideline investment with a chance of a large win why not. It's not like the amount you can put in PB is going to net you a large amount anywhere else.
Not according to Mr Lewis....
https://www.moneysavingexpert.com/savings/premium-bonds
When you look long into an abyss, the abyss looks long into you.........
Depends entirely on the individual's requirements and circumstances.
As usual, sensible words from the MSE.
Premium Bonds are all about your mentality. They do protect your cash, so even if the returns don't look a good bet, it's fine to put a non-significant portion of your money in them, provided you're aware it's more for fun than returns. Before deciding, use the calculator to look at the real odds. If you're willing to take the gamble after that, then it's fine.
Many people often think: "I'm likely to get about 1.15% and there's a small chance of winning a million". But the main point is that this isn't correct. You're actually likely to get quite a lot less than 1.15%, and there's a negligible chance of winning a million. If you know and you're OK with this, then investing in Premium Bonds isn't a bad plan.
"Premium Bonds are all about your mentality. They do protect your cash, so even if the returns don't look a good bet, it's fine to put a non-significant portion of your money in them, provided you're aware it's more for fun than returns. Before deciding, use the calculator to look at the real odds. If you're willing to take the gamble after that, then it's fine."
https://www.moneysavingexpert.com/savings/premium-bonds
Pretty much what I said. If you can afford it why not? If you need a bit more interest don't bother.
Well as usual the wife lets the side down. 2 prizes for her 8 in total between us, all £25's so £200 for this month.
Roll on Jan 2018
Premium Bonds are a gamble, not a science or an investment strategy.
Last year (when I first bought some) I made 2.5%, so nothing to shout about and bloody lousy against the 17% I made in shares. However I made 2.5% at zero risk.
We all know the rules and the alternatives, so it's your decision and we have got nothing to moan about if we don't make anything, we knew the rules.
Quite - I have about 25k in them and just looked up the past 6 draws. I won 25 in June, 25 in July, 50 in August, 0 in Sept, 0 in Oct, 0 in Nov but just won 100 (4 x 25) in December so overall have won 200. I would guess I average 25 a month so about 1% or so return.
I did get 1000 once many years ago but it makes sense to me to have some cash in them in the hope I will get another good prize and are tax free.
Pretty much the way we look at it.
£125 this month and £1500 in the past 12 months.
Just ticking over and who knows!!
2 x £25 this morning and averaged better than 2% gross over the last 12 months. Not great but better than the bank.
Eddie
Whole chunks of my life come under the heading "it seemed like a good idea at the time".
Have had £15k in since March and have had 1x£25 prize. Obviously saving my luck for elsewhere.
I don't really agree with Martin Lewis on this. The interest rate is the "expectation" I think it is called. You can't just calculate the odds of the lower prizes and ignore the expectation of the whole range of prizes. Example - the expectation of a 1% chance of winning £1,000,000 is £10,000. The quoted interest rate is not false.
This month 3x £25 , what I like is the accessibility to the funds
Bws
Franco
2 x £25 for me, 1 x £25 the wife this month.
Makes me sad that 1-2% is seen a decent return. Literally not worth it in my opinion.......
Sent from my iPhone using Tapatalk
Ah, but there's always the chance of landing the "biggie". albeit a slight chance.
Eddie
Whole chunks of my life come under the heading "it seemed like a good idea at the time".
I know it's not as unlikely as the lottery but feels in the same ball park.
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I shouldn't worry about it everyone seems happy with how it works, and most seem to like the chance of a big win. The majority would probably have a reasonable idea about returns on investment I think.
Perhaps not for you though as you say.
Ah, premium bonds were my Master Plan to leave the rat race.....seems like I may have to re-think that strategy. Surprising to read not a single 'big winner' amongst those who have responded to the thread so far....
Tbh big winners are pretty rare by all accounts. I should look for another strategy if you can't do it for a bit of fun.
Surprised so many people still seem to get their winnings as a cheque in the post, now have mine paid direct into the Bank and get notifications via email.
However does remove the excitement of opening the letter to see how much you have won as understand if you get a big one you will get the email
on the 1st maybe 2nd of the month so if the email arrives after that then going to be £25. (So you can guess no sign of the big here yet)
I thought they drew the winners on the first or second working day of the month, hence why the notification emails are usually received around the 4/5th of the month.
sent from TZ-UK mobile app
Guess its all computer automated and thought the emails were sent pretty quick but I could be wrong, Ill let you know if I get the email on the 1st or 2nd when I win the Biggie.
I want the envelope and the excitement of seeing how much you have won!
I often like to leave mine around unopened for a while, just to rile the wife.
Cheers,
Neil.
Oh yes, that would work, might have to try it!!I want the envelope and the excitement of seeing how much you have won!
I often like to leave mine around unopened for a while, just to rile the wife.
£75 today🤑
7 prizes this month. Roll on next!!
I thought I'd start adding funds to PB four years ago. I applied to put £500 in but it never got passed NS&I. I had back and fourth correspondence with them but due to me not having the rquired passwords and info, I have never seen it since.
sadly nothing for me today. The next watch purchase will have to wait at least another month....
I'm rubbish with money, have no clue about investments and have no luck. Premium Bonds at least makes me feel like i'm trying.... even though in 3 years i've only won about £500 out of 20k.
I don't have a clue where else to put money.
I'm in the same boat. The stock market seems to be very volatile at the moment and lots of talk of a correction. Don't feel bad about not investing, at least your cash is safe from a big loss!
25 for me today so not the best months but probably average over the year. I know there are more sophisticated investments but it is a safe way to store some cash that you can't easily spend but can get to quite quickly if needed.
I've had only £300 in PB, for around 15 years, won 2x £25 so about 1%/year interest over that period if my calculations are right....
Snap!!
The slippery slope has started 5 prizes this month £125
Cashing in soon as another house purchase looms.
Not won nothing for about 4 months now, was getting a steady £25 a month
Last month £25 x 3. This month £25 x 1.
Is it true that if you win the big one, you get a knock at the door?
No, they will write to you.
Cheers,
Neil.
I got five too.
My Mrs who has the same amount as me got nothing!
Cheers,
Neil.
Prize Level Number per month Odds of winning at least this amount per £1 bond in one month
£1 million 2 1 in 35,926,766,878
£100,000 4 1 in 11,975,588,959
£50,000 10 1 in 4,490,843,843
£25,000 17 1 in 2,177,378,863
With these odds you don't have much chance of becoming an overnight millionaire.
My biggest prize has been 50 quid with nearly max. investment for several years. Tax free is the only benefit these days imo.
Yes look up agent million she will come knocking
Nothing last month but 5 x £25 this month.
Eddie
Whole chunks of my life come under the heading "it seemed like a good idea at the time".
100% success rate so far this year. Two X £25 that is.
I live in hope that it gets better.
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