PREMIUM BONDS

[Blondeshavemorefun]

new thread for when other is fill

this will be for next draw for June 2022 - ans any winners from the the May draw (today)

Just got my text today (I'd forgotten to check until now). £25 on around 20k. Better than a poke in the eye although I had got my hopes up a bit with the promise of more prizes but still good.

Not a scam. £25. I have near minimum holding, if not minimal.

No, it was definitely 6.00am on the 2nd that I checked my account. I logged in on my desk top computer before DH was even up. He came down and checked his via the App on his phone about 9.00am and had won 2 x £25.

recklessgran
i think I once read that if they award a prize to someone, and for some reason that person cannot receive that prize (death??) then that prize is redrawn.
maybe that happened with you.

That happened with my son. The app said he didn’t win. And we had no email.

Then we got a letter a week or so later. Ds are reinvested and you can see the reinvestment on his account.

I got an email think on 5th. Not in my account yet - usuallly is by 9th

Cane on to check if others hadn’t been paid yet.

Maybe it was the long Bank Holiday causing the delay.

I got the email on Tuesday evening - four days after I knew I'd won from checking the website, and I can see on my bank that the money is due to come in tomorrow. Slow! Maybe worse than usual due to the extra bank holidays, as suggested?

Same here - maybe the delay is due to processing more prizes this month?

Now in my account

Yes, also in my account today

What does this have to do with Premium Bonds?! 🤣

Am I reading this right....how are so many people investing good money into premium bonds and thinking 25 quid is something to celebrate....I don't get it....maybe I'm missing something here but surely a stocks and shares ISA is the way to go with thousands of your hard earned pounds....please will someone explain what the benefit of this is....

look back up thread at the answers given to a pp who also thought we were all stupid.

It’s no risk of Losing money v possibly being a millionaire

As PP said this has already been answered by some of us.

But because you can't have read the thread I'll say it again. I have pensions and investments for long term savings but premium bonds is just a vehicle for holding money that needs to be accessed quickly as cash which I don't want in stocks and shares or tied up in accounts that need notice.

That was the long answer. The short answer is that it's my money and this works for me.

@swifty1974

Thanks for your insight. Which ISA is the best one where I get a fantastic interest rate?

Hi all, I did read a lot of the previous posts but Im just trying to help people who may not realise that if youre holding cash during a time of high inflation then youre actually losing money. Unless the account or investment or bonds give you 9% return (the current rate of inflation) then your just getting poorer because your money is able to buy less stuff.

@anotherbrewplease There are a lot of stocks and shares ISA providers. Mine was with Hargreaves Lansdown mainly because they have such a wide range of funds etc to choose from. Because they also are very large they have discounted fees on a lot of the funds. If you really want to learn about investing I would advise you to read "How to Own The World by Andrew Craig" it really changed the way I look at my finances. Tells you everything you need to know about getting started and reducing your exposure to risk.

You have to put in a little effort to educate yourself but its is so worth it - especially at the moment. Anyway hope this helps. I just hate to see people not making the most of their finances and sleepwalking while the banks (and people who sell bonds) are using your money to make money when you could be doing the exact same thing for yourself instead of lining their pockets.

@ThatPosterIsSoRight Just to be clear I never called anyone stupid, Im just trying to help

People keep saying theyve won.....thats clearly not the case youre all losing massively....

Example £40000 "invested" in premium bonds.
Inflation at 9%
£40000 x 9% = £3600
Youve lost £3600 this year

But on a more positive note youve won £25 so not all bad

Really...........

@swifty1974 I get that you think you're helping, but if you had actually read the thread you'd know that the funds the vast majority of us on this thread are holding in PBs are not suitable for investment in shares, as we need access to them within a short timeframe.
Shares grow faster but are not recommended if you need the funds within a year or two as they are too volatile to rely on. You might have large gains, but that comes with the risk of short term losses.
We mostly have long term investments alongside the PBs in our portfolios, and are happy to risk lower growth in that portion of the portfolio to guarantee no losses, and to have a small chance at a big prize.

And yes we do understand about inflation, but thanks for the totally unnecessary remedial maths lesson.

wow, someone is having a bad morning arent they. Any moneys in a S&S ISA are accessible whenever you need them. Also the volatility tends to be very low with a good diversified mix of funds. Youre right investments are supposed to be for the longer term but doing next to nothing with any of your money is such a waste....Im guessing you work hard for the money you have so why waste it on crappy premium bonds just so that someone else can use your money to make money.

And as for the remedial maths lesson - not everyone understands as well as you might. Im not trying to patronise at all.

But if you want to get all uppety about it knock yourself out....Im am genuinely just trying to help