PREMIUM BONDS DEC INTO 2024

[Blondeshavemorefun]

New thread for when old is finished at nearing 1000

pleased to say I finally won £100 after nothing in oct and nov

here’s to a happy healthy and ideally WEALTHY 2024 for us all 😁

DH £200 me 150 on £96000 between us. That’s 5.35% before tax as we only pay 20% top tax here. Pleased enough.

£150 for me. I'm relatively happy with that although a bit disappointed as I had my eye on a 10k prize on the big winners list with the same city/holding/month of purchase as me! 😅

Just calculated that my return for 2023 is 5.95% (actually slightly higher as I didn't have FH for the entire period but worked it out as though I did) - am happy with that.

1x£100 and 1x£50 on 10k holdings. Biggest ever win for me. Nothing for the kids on 2k each.
Happy with that.

Now I need to withdraw 5k to pay for new car and repay child benefit to DP 😔

I won 350 on fh. I shouldn’t complain but I hoped for more
looking at the odds posted above it seems I should be happy to win at all. I’ve been in it for 5 months now. And I’ve won something each month

£100 on about £6500

Nothing for the kids who have £1000 each 😔

£125 on FH. Better than zero which was what I got last month (and in fact it's what I regularly receive). There are some much more lucky people on this thread!

£300 between DH and I on FH £25,000 each.

£50 for me this month.

We won
250 on FH
100 on FH
25 on approx 45k
325 on approx 45k

The latter two being the kids house deposits - one of which is likely to be used in the next quarter as they've just had an offer accepted.

Just worked out our rate for 2023 - 4.2%. I was thinking about removing it all in the autumn after months of no winnings but good wins in Nov Dec and Jan have pulled it back, so will leave for now.

Not a sausage on combined holdings of £26k

Zero for me as well for the second month have 30k
But I did win £6.30 on the lottery!!

Nothing for me but DH won £100.

£200 on FH
£950 for last year

DH got £250 on full holdings, not bad, but our combined total result was dragged down by me, a pitiful £25 on almost FH!

I have now realised that considering decent savings accounts are now paying around 5%, then for a comparable return someone with full holdings needs to get around £200 in prizes a month. So for a couple each with FH they need to be getting £400 a month. Pretty sure we are not achieving this, our best month to date was £375 between us I think. But then there is always the hope of striking it lucky with the million or another big prize, which you'd have to forget about with a standard savings account...

I know I have been a bit slow on the uptake with this! Some of you seem to have it sussed. Does anyone know how to work out what percentage rate we've actually been getting over the year?

I'm pleased with £225 on first month with FH. Obviously will expect similar going forwards. Lol.

Am I right thinking winnings are tax free?

Add up your total winnings for the year and divide by your holdings. Then multiply that number by 100.

For example, if you had full holdings (50k) and won a total of 1800 in 2023, then the calculation would be:
1800 ÷ 50000 = .036
.036 x 100 = 3.6
The rate would be 3.6%.

It's a bit trickier if you've added in or taken out money, but that would give you a rough idea.

No win this month on just under 6k. But won 50 each in Nov and Dec so can't complain.

At about 3.2% for the year (only started in June, so adjusted for that). Not bad, but now focusing on maxing out ISAs.

@NextPrimeMinister Yes, the winnings are tax free. Of course, maybe you'll change that rule when you become prime minister. 🙂

Don’t forget when working out the equivalent interest rate you are earning on PBs that they are tax free so you would need to account for tax deducted on the interest rate for a savings account (ISAs obviously tax free).

So you may be looking at a savings account paying 5% but unless it is an ISA, in reality you are actually earning 4% after tax (for basic rate taxpayers) or 3% (for higher rate taxpayers).

Dont forget as well that you have a personal savings allowance where you can earn up to £1000 (basic rate taxpayer) or £500 (higher rate taxpayer) tax free. Back in the day when savings rates were abysmal you needed a lot in savings to exceed these amounts, but now that the rates are much higher you can get there very quickly.

Eg on an interest rate of 1.4% you’d need to have about £75,000 in savings to earn more than £1000 in interest, which most people don’t have. However with rates as high as 6% on offer at one point, you’d only need about £17,000 in savings before you break the £1000 mark.

Nothing for me or ds’s!

2 x £50 wins today.

That's a 1.85% return over the past 12 months.

£100 for me on FH

Bother! The mystery continues. Fingers crossed for next month, OneFrenchEgg!