That's actually not a bad return though
A £1 investment to hit £50 after 30 years is around 14% interest a year (compounded yearly)
Premium Bonds - If you post to say how much you've won, please also say how much you have invested.
- Thread starter Feek
- Start date
That's actually not a bad return though
A £1 investment to hit £50 after 30 years is around 14% interest a year (compounded yearly)
U never know!
Never looked at it like that - It would make my day if I could get 14% now on my savings.That's actually not a bad return though
A £1 investment to hit £50 after 30 years is around 14% interest a year (compounded yearly)
Soldato
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That would make me feel happier knowing someone real actually wins, than sitting here reading here every month X people winning £25 to £250, while my cash does sweet fa for 6 months still. I'm like a gambling man in denial waiting to get my statistical return before pulling out
That would make me feel happier knowing someone real actually wins, than sitting here reading here every month X people winning £25 to £250, while my cash does sweet fa for 6 months still. I'm like a gambling man in denial waiting to get my statistical return before pulling out
I'm using it as a temporary store while I save up for a van. Figured better to gamble what little interest I'd earn for chance to win as its only in there 6 months.
Feel like premium bonds is only for those who save over the isa or other tax free amounts a year.
That would make me feel happier knowing someone real actually wins, than sitting here reading here every month X people winning £25 to £250, while my cash does sweet fa for 6 months still. I'm like a gambling man in denial waiting to get my statistical return before pulling out
How many bonds you got?
Yeah, on the surface it looks like it's only really worth investing 25k up to the max 50k... or if you are about to breach the tax threshold on other savings, for example putting money into preium bonds if your ISA allowance is maxed out for the year, but then transfering 20k from the premium bonds the next year...
That's with current interest rates on ISAs and other savings taken into consideration, if they were to fall further, to say 3% then premium bonds would look a lot more attractive?
Premium Bonds
Premium Bonds are the UK's most popular savings vehicle, but Martin Lewis' detailed analysis shows returns don't add up for many compared with savings.
www.moneysavingexpert.com
Yeah, on the surface it looks like it's only really worth investing 25k up to the max 50k... or if you are about to breach the tax threshold on other savings, for example putting money into preium bonds if your ISA allowance is maxed out for the year, but then transfering 20k from the premium bonds the next year...
That's with current interest rates on ISAs and other savings taken into consideration, if they were to fall further, to say 3% then premium bonds would look a lot more attractive?
Premium Bonds
Premium Bonds are the UK's most popular savings vehicle, but Martin Lewis' detailed analysis shows returns don't add up for many compared with savings.
Yeah agreed.
Even then you have to wonder.. Is it better in my pension?
Probably!
Soldato
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Need to withdraw my £30k bonds soon, hoping for a nice win to send me on my way
Soldato
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Funnily enough this is why my cash is in there, and waiting to buy a car. Though i'm kinda just thinking of not bothering for another year. Buying another car has been on my mind since before covid, then i was doing the house up, then car prices went up, then did a cam belt change so thought i'd get some more worth out of it. Current car is essentially worthless, but reliable.
Just over 8k.
Associate
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Last chance for me this month. Pulling my £10k to pay a chunk off the mortgage in a few days
FluffySheep
FluffySheep
Always a good idea that...nice one.
Associate
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Trying to not take thread off topic... But got a few days to do overpayments with zero fees so maximising the chance.
FluffySheep
Mortgage over payments? Depends what deal you are locked into and how long for ... The maths gets quite complicated quite quickly!
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Soldato
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For those who haven't used it, there's the money saving expert calculator for various mortgage situations. Even if it's unneeded for many, it's interesting to smash some numbers into.
Mortgage Calculator UK: Repayment & interest only mortgages - MSE
Comprehensive mortgage calculator, as well as the basic mortgage calc you can check the impact of savings vs mortgages, offset mortgages, overpayments and more
www.moneysavingexpert.com
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The only thing that'd stop me making any overpayments on my mortgage is if I could guarantee an investment outside of my mortgage would make more than the interest I save by overpaying.
In the end I do a mix, a bit of overpaying and a bit of investing.
In the end I do a mix, a bit of overpaying and a bit of investing.