NS & I Premium bonds

Putting 10k into premium bonds, for me, is more point of having a gamble with it. I could spend the lot on the lottery or horses etc and blow the lot with nothing to show. With the PB's at least the money will still be there and i 'may' win something!
 
koolpc said:
Putting 10k into premium bonds, for me, is more point of having a gamble with it. I could spend the lot on the lottery or horses etc and blow the lot with nothing to show. With the PB's at least the money will still be there and i 'may' win something!
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I thought the point others were tryign to make is that you can still do that with the EXTRA that you're likely to accumulate on Interest alone?
 
Pate said:
I thought the point others were tryign to make is that you can still do that with the EXTRA that you're likely to accumulate on Interest alone?
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Interest will be small on 10k anyway so at least with PB's you have a 'chance' of winning something more than you can accumulate with the interest.

Its not about investing it for me, its about having a gamble without losing the wager so to speak.
 
koolpc said:
Putting 10k into premium bonds, for me, is more point of having a gamble with it. I could spend the lot on the lottery or horses etc and blow the lot with nothing to show. With the PB's at least the money will still be there and i 'may' win something!
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*Face Palm*

But putting 10k in an ISA, you still have the same money there at the end of the year (or more) than you would with Premium Bonds AND you get to gamble the 'free' extra interest, which is MORE likely to give you a BIGGER win, then your 10k in Premium Bonds would.

You get the best of both worlds in my example, whereas Premium Bonds is worse in every way.
 
koolpc said:
Interest will be small on 10k anyway so at least with PB's you have a 'chance' of winning something more than you can accumulate with the interest.

Its not about investing it for me, its about having a gamble without losing the wager so to speak.
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So put it in an ISA, withdraw the interest (£300ish on £10k) and spend it all on the horses or something? You get your gambling fix and your 'chance' of winning something, you keep your £10k, and your chance of winning is actually much higher. And probably more fun.
 
[TW]Fox;21536650 said:
I think we are talking to a brick wall. The most convincing argument seems to be 'I might win!'. We are wasting our time :(
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Ironically my first post in this thread was:

div0 said:
Fair play Fox, can't fault your effort. I'd have given up in despair long ago.
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But somehow I ended up being drawn into posting.
 
[TW]Fox;21536643 said:
So put it in an ISA, withdraw the interest (£300ish on £10k) and spend it all on the horses or something? You get your gambling fix and your 'chance' of winning something, you keep your £10k, and your chance of winning is actually much higher. And probably more fun.
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Lets see now, i would have to wait a year to get the interest so that i could then 'gamble' it? :rolleyes:

So, regarding lottery, should i save my £3 a week spend on it in a savings account and then withdraw the interest in a year to spend on a lottery ticket? :rolleyes:

Seems like i am hiting my head against a brick wall with you guys.

I DONT WANT TO PUT THE MONEY INTO A BANK TO GET INTEREST IN A YEARS TIME!!! I WANT THE FUN OF GAMBLING IT OVER THE YEAR WITHOUT LOSING THE WAGER!!!

Is that clear for you?

If i win nowt at the end of the year so what?!!!! It is a gamble!!!!!!!!
 
Do what you want. We're only trying to help you make a better choice with your money.

You could deposit £9,800 into an ISA and hold back £200. You'll still have just over £10k at the end of the year.

Then use your £200 to gamble over the year. That way you don't have to wait for the interest, to have money to gamble.

You seem to be coming up with less and less sensible reasons as to why Premium Bonds are a good idea. You don't have to take our advice, but please acknowledge that there is no reason for doing what you suggest, other than 'because I want to'.
 
^^^ It's not really a gamble though is it.

The odds of winning any prize per bond is ~2,000:1 according to the Money Saving Expert calculator.

If you were going to put money on a horse you would stay well clear of anything with those odds.

It's just the 1-in-40billion chance of winning a million that fools people into buying premium bonds.
 
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Panzerbjorn said:
It's just the 1-in-40billion chance of winning a million that fools people into buying into premium bonds.
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Indeed, but I've already shown him that £200 of lottery tickets has a better chance of winning the lotto jackpot, than his 10k in the Premium bonds would have of winning £1 million.
 
[TW]Fox;21536445 said:
So the only reason why your Bonds have almost equalled your ISA is because you had a poor ISA - its important to keep track and move around once a year.
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To be fair, I got shafted. I had assumed the rate I had was locked for the year, but it dropped rapidly and I didn't realise I was in a bonus rate period. I know, I know, small print.


meghatronic said:
and I'll move some of my bonds over.
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Exactly two thirds of my bonds will be cashed in (after April-1st draw) and will be winging their way over to my new ISA.

Totally lost out on the top bonds prize now!
 
div0 said:
Do what you want. We're only trying to help you make a better choice with your money.

You could deposit £9,800 into an ISA and hold back £200. You'll still have just over £10k at the end of the year.

Then use your £200 to gamble over the year. That way you don't have to wait for the interest, to have money to gamble.

You seem to be coming up with less and less sensible reasons as to why Premium Bonds are a good idea. You don't have to take our advice, but please acknowledge that there is no reason for doing what you suggest, other than 'because I want to'.
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I understand where you guys are coming from but i just want to try the PB's with the 10k i have.

Doesnt matter if i dont win. It is a gamble. If i wanted to be 'safe' and get a gauranteed amount back then i would stick it in the bank! Its not about that though. I have the money to put into the PB's to try for a year. No big deal if i dont win but its will be nice to try!

Knowing that i may never get to win the lottery it still doesn't stop me from having a gamble!
 
koolpc said:
I understand where you guys are coming from but i just want to try the PB's with the 10k i have.

Doesnt matter if i dont win. It is a gamble.
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I dont even see it as a gamble though, cos you dont lose anything. what you put in you will get back out. There's a chance of getting extras back which is fine. Got a small amount back whilst still having ISAs (one earning next to nothing, the other earned a bit more) at the same time. If you've got the cash to spread around then go for it but I'd put it in as a chunk rather than little bits here and there (from my experience the first year i had bits and bobs and only won £25, the following year I withdrew then put it in as a lump and been more successful 8 wins in 7 months albiet minor amounts)
 
Was told about premium bonds and how good they are so was thinking might stick £500 in, instead of into an ISA (i've got £1000 in a ISA at moment).

Looking at this has just changed my mind.... lol
 
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