If you have premium bonds?

[RosieLeaLovesTea]

Why do you have them? I know they are tax free. But I watched a video with Martin Lewis explaining and he said you have to have £10,000 before you start winning. How much do you have and have you won much or regularly?

Never knew that 10k bit. My boy has 100 in bonds that an auntie put in for him when he was little but we've never really given it much thought since.

I had a few PB's given as a christening present back in the 1960's but never won anything on them.
When we were in our 30's my OH & I started buying them regularly and by our early 50's we both had the max holding which has resulted in regular wins (although neither of us have ever won more than £500/M).

We like PB's as they are a bit of fun.
Agreed you may not keep up with the rate of inflation but there is the anticipation each month seeing if you have won and if so, how much.
They are safe, easy access and handy if you want to quicky access a sum of money for a purchase (new car, extension, kitchen etc).
With FH the prizes are paid into our current account but if we have dipped in for any reason, the prizes automatically go back into PB's.

We do not put all our eggs in one basket, we have more money in ISA's, shares etc than we have in PB's

I've won £1k in the last 12 months 😁

But I have them as the winnings are tax free, they're fun and I might win a lot!

I used to have about £10,000 and won occasionally - then after I had an inheritance in 2017 I went up to the maximum £50,000. Since then, there has only been one month in each year when I haven't won anything. The maximum I've won has been £375, which oddly I've won a few times. The average is around £175-200 per month. Obviously it's entirely down to chance, but it's worked out well for me. And it's beaten any interest rate I could have got on a regular deposit account.
It's still cash, and easily accessible - I could withdraw it all if I need to within a few days. And winnings are tax free. So that's why I did it.
My mother also has some premium bonds (around £30,000 I think) and she won £10,000 one month last year!

My mum had £250 in bonds, won £100 back in December. I have I think £25 worth my mum invested when I was a baby… can’t for the life of me find the bond number though….

On the flip side, I have £48k and have hardly won anything in the last year. I keep meaning to take it out and put it in a guaranteed bond.. but hope keeps it there. If I have another terrible year, I'll definitely take it out