PREMIUM BONDS - OCTOBER ONWARDS

[Blondeshavemorefun]

https://www.nsandi.com/files/asset/xlsx/prize-october-2023.xlsx

October over £1000 winners

app will show smaller wins tonight midnight

That's lovely and is what I would hope for. Whether mine would be as sensible am not sure but.. one can hope! 😅

@ThisWomansWorkNeverEnds

It crazy. Wonder why it's 16... seems badly thought through to me, but maybe that's because my DS is quite young for his age. He's had a few wins since turning 16 - £100 three times, lucky! And to be fair I suspect it gone within a day or so.

So far I'm not sure he's clicked the bonds can be withdrawn. I have told him that his grandpa has invested them to help potentially win more money, I need to chat again about it though.

I think I've decided to split the money and reinvest and tell neither. Anything else seems problematic.

Good idea. It's a new problem for me but as they say... it could be you (well, them). If never thought I'd need a plan. Imagine if it was £1m! 😂

@Ohmylovejune @Bangerwheel

Yes the money is now DD's, she is quite sensible although has a liking for labels and jewellery! The money has been presents given over the years.
They were also lucky enough to get child trust fund money although DS got less as it was cancelled. Have contributed to that too. They get that at age 18.
My parents didn't save anything for us when we were younger, probably because they didn't have much money at the time and my mother didn't work.
I remember a friend from school had got some money from a savings scheme her parents took out when she was a baby, it wasn't much but at least it was something.

In terms of labels, we taught our two to associate price and hours worked at a NMW to get a grasp on value when they were young. And also made them try non labelled items, even if they later decided to "invest" their birthday money in the more expensive brand. We didn't stop them from buying branded items as, to be fair, sometimes they are better quality - it's not always that one is paying for the name.

Yes, they get on very well. We are soooooo soooo lucky. Even though they live 100 miles apart now they are in regular contact.

Thinking about it mine have the CTF too for 18. There's a difference in what's in them for various reasons - age, performance of the fund etc but DS has more (neither have a lot). Perhaps I'll use this win to even hers up and then split the rest between bonds. Then there's complete equity. He'll be able to get his CTF in 15 months and there's enough to put towards a first (cheap) car, we aren't talking big money - he knows that. Then I think the bonds should stay... I was starting to wonder whether they're worth it. I have some, and get the occasional £50 but nothing substantial. And then she gets £5k on £8k so it's made me realise they're always worth leaving (yes I know nothing is guaranteed compared to savings accounts etc but this was a total surprise and very exciting if stressful!).

Mine are small with no concept of savings or money (they have about 2k each) and I had planned to split wins. But worried what would happen if they won a million (ever optimistic!) as I would consider that family money which would be used to improve our current situation as well as savings for all DCs. So I've merged their pots with mine, as don't have full holdings.

Now whenever I win I give them the percentage holding which works out better for them as they now 'win' every month.. so this month I won £200 and gave them £15 each for their share into another savings account.

The money they have is all money I've saved for them anyway and I wouldn't be letting them have it at 16 anyway!

Some interesting points about child premium bonds.
mine are still newborn and toddler age and I am about to apply for the newborns account, so fortunately years away from a big headache 😀
I like the idea of splitting anything over £100.…

Also, just checked my prize history and I invested £2k last October …won nothing in 12 months.

the additional 8k I invested in April has won me 2 x £50 and 1 x £100

Obviously, I know I have more bonds so more chances of winning, but interesting that the first purchase has never seen anything won from it

@Bangerwheel DD has more in her CTF as well, DS has £250 less anyway as he missed out on that from the government. So I think I will add that to his.

DD has around £4000 in her CTF, not a huge amount but will definitely come in handy as she thinks she will be getting a car at age 18!! 🙄. I've already explained about price of insurance, car, MOT etc.

@Ohmylovejune definitely, have also said about price of things, how many hours I would have to work to pay for things.
I've also said they will be expected to get a part time job at some time. I regularly remind them that I started a part time job at age 14 and have worked since which they are bored of hearing! They need to understand the value of things.
DD is happy to buy things from Primark, has a lot of stuff from there over the years.
DS's interests are golf and computer games which can be a bit expensive at times but he hardly spends money on anything else.

They sound like they have a pretty sensible attitude.

My son loved his computer games.....he's now a software engineer so it didn't do him any harm!

Oh that's amazing, well done to your son! Think that's the sort of area DS would like to work in, he seems very good at dealing with computers, phones etc, unlike me! Is interested in businesses etc.

Nothing for us this month

Actually I wouldn't reinvest into DS without a chat first

As what if he wins £5k later on and doesn't share?

Are yours maxed out? If not I'd put in yours

After another month of winning nothing on FH, I've cashed some bonds in. I've a 5% interest account with Santander, so it makes sense. I'll be removing more each month in the lead up to our house building project. It's so much fun anticipating the bonds win, but I'm just about hitting 3-3.5% which isn't enough now.

Nothing again this month on near FH. DH withdrew most of his last month and won £100! Mine are coming out tomorrow, not sure where to put it though. Feel slightly sad, some of my bonds were bought for me by grandparents when I was a child

A nice dilemma to have with a big win! Our largest has been £500 which is great but we live in hope every month for something lovely with a few 00's!
Personally with more than 1 DD/DS and they were young-ish, I'd split the win equally into their PB accounts, but would also give them a small amount of cash each to buy a little treat.

£325 on FH this month.
It seems that as the prize fund is getting larger, our wins are getting smaller.
We started off the year with some really good wins and we were beating the average but it has been getting less over the past few months.
Still, it is still fun to look at the Prize Checker and see if we have something heading our way.

£50 this month.

@Bangerwheel you have said your son wouldn’t share so don’t make your daughter just because she is younger and a girl

Is the prize rate still 4.65%? Lots of us seem to be reporting 0 on significant investment levels

Two things

The big winners will be getting way above 4.65% and thus the other holders will get a lower return. Somebody else can probably explain the maths better than me.

In the grand scheme of things mumsnet forum is a miniscule sample size compared to the total number of people who hold premium bonds. So there is no reliable conclusion that can be drawn from the posts on this thread.

My interest/prize rate is coming in at around 5.5% this year. So I think I've been pretty lucky.
One good month can make a big difference to the rate so that's what keeps me in! Before this month it was more like 3.5% for me which is below the average prize rate.

Yeah, like @PlipPlopChoo said, PB winnings are bumpy, and you're likely to closer to the prize fund rate the more bonds you have.

It can be a decent place to keep money, depending on your exact scenario and tax implications etc. though.

From MSE:

With Premium Bonds, for every person who wins £1 million, a lot of people have to win nothing. So the median average will always be lower than the mean average. This means that, with average luck, most people will win less than the prize rate each year, regardless of how many bonds they hold.

I have had an average of £14K in bonds this year and have had £750 in total wins since January, which works out at over 5% so I am happy enough with the return. The only months I didn't win anything were March and April.

In 2022 I won about half of that, on less bonds though.