Where do you hide your running away fund

[Somuchsugarinoneday]

If you have one?

I’m soon going to be working more hours and earning almost double what Dp does. I’m not planning to run away, but I do want to save that money and Dp is hopeless with money and it all gets frittered away somehow.
I want/need to save the money for an important reason-medical tests and help for my ill Dd and then possibly a trip to Disneyland in a year or so. I plan to work very hard for as long as this opportunity presents itself and to save as much as possible.
I’m thinking cash in a larger envelope, but where? My thoughts are in a high up picture frame in Dd’s bedroom, but i’m not sure 🤔

Where do you hide yours, if you even do?

@Somuchsugarinoneday for anyone asking about why a running away fund is needed, almost half of all marriages end in divorce! That’s terrible odds! It’s actually worse than that, as marriages fail without necessarily legally ending. Plus all of the co-habiting relationships that fail, that we don’t have statistics for. So if you are in any kind of relationship, the odds of it breaking down are very very high. We always think it won’t happen to us. Hope for the best, plan for the worst. I’d rather have a running away fund and never need it, than not have one and need it. Abusive behaviour isn’t always there at the start of a relationship, a common time for it to begin is during pregnancy sadly. I met a lady only today who thought she had the perfect marriage, young family, only to find out her husband was living a secret life, with a second family. Let’s hope she has a running away fund as her husband is certainly not looking out for her or the children.

For Premium Bonds you need a UK bank account. Not many UK banks still allow non-UK residents to open accounts. You'll also need to declare any winnings on your tax return and you'll get taxed on them (and you'll also have to declare the UK bank account).

No, Premium Bond winnings do not have to be declared on your UK tax return. Prizes from NS&I Premium Bonds are 100% tax-free, meaning they are exempt from Income Tax and Capital Gains Tax. You do not need to report them regardless of your tax bracket or the amount won.

Key Points
Tax-Free: Prizes are entirely tax-free, even if you win the £1 million jackpot.
No Declaration: You do not need to list winnings on a Self Assessment tax return.
Inheritance Tax: While free from income tax, prizes are included in your estate for Inheritance Tax purposes, according to HMRC's internal manual.
Non-UK Residents: If you live outside the UK, your local tax authority might treat the winnings as taxable income.

To get regular prizes, 10 out of 12 months, as stated by a pp, surely you’d have to have the maximum amount, £50k?

OP said she wasn't in the UK @MOON

I don’t have running away money (don’t plan on running away unless hubs and I do it together!) but I do have a couple of savings accounts with money stashed away. I bank with Monzo and their instant access savings pots pay good interest and pay it monthly so you don’t have to wait all year for it

And even then, there's no guarantee you'll win anything (years ago I had the maximum amount, which at that time was 30/35k, didn't win a thing). I wouldn't recommend PBs as a method of saving money, particularly if the OP isn't a UK resident.