If you have FH in Premium bonds....

[StandardLampski]

Where do you put your winnings, or what do you do with then?

I dont by the way, so mine just get sent to buy more bonds.
However, I may have the chance to up my holdings, to stash money before paying off the end of mortgage ( hopefully) so was wondering what people tend to do...spend, save, invest?

As its the draw tonight it wandered into my mind...
Good luck everyone!

You nominate a bank account for any winnings to be paid into.

I don’t have premium bonds but when my ISA’s go up in value I take out the profit and use half of it to pay off my DS’s mortgage and buy a treat of some sort with the rest. Something like a hotel room upgrade or a big fun purchase.

DH and I have FH. Neither of us have won a penny for the last 4 months!

Any winnings get transferred to my current account and then go into my pension.

Personally I feel like the money should be invested if possible as otherwise the bonds become worth less over a long period of time.

What does FH mean?

They get transferred to my bank account and then into another savings account.

FH = full holdings (£50K worth of premium bonds).

We both have FH and the monthly winnings automatically transfer into our current account and act as extra spending money.

We keep a "float" in the current account and if at the end of the month there is more money than expected, the extra is transferred into savings.
This month for instance, we both won on PB's plus a share dividend will be coming so we will be in surplus. Will leave it to the end of Feb and then transfer the extra.

You're best off paying your mortgage off as and when you have the money rather than stashing money and paying it off in one lump sum. Save yourself spending money on the interest that way.