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Savings and Investments thread
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With odds of 24000-1 of winning a single prize, I’d say your return this year is not too shabby.blackpool72 said:Out of interest I shall post on here my monthly premium bonds return for this year.
I have 22k of premium bonds and so far this year my returns are as follows.
January. Nil
February £50
March £150
April £200
At the end of the year I shall add up all my winnings and divide by 22k just to see what money I make as a %.
Personally I reckon my returns will be on a par with most other saving schemes out there.
Plus of course I might even win the big one 😁0 -
You're doing well so far on £22k.blackpool72 said:Out of interest I shall post on here my monthly premium bonds return for this year.
I have 22k of premium bonds and so far this year my returns are as follows.
January. Nil
February £50
March £150
April £200
At the end of the year I shall add up all my winnings and divide by 22k just to see what money I make as a %.
Personally I reckon my returns will be on a par with most other saving schemes out there.
Plus of course I might even win the big one 😁
It will be interesting to see how the year plays out. My wife if she continues her run is on for 6.6% return this calendar year.0 -
…and don’t forget the winnings are tax free.1
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When you state 'cash the Isa' in, for what purpose exactly? @Rob7LeeRob7Lee said:TBF I agree with a lot of what he says.
But as someone who maxes out their ISA and is a higher rate tax payer they still work for me, just. But a week ago I advised my eldest daughter to cash hers in, she doesn't have the maximum and is a 20% tax payer who doesn't max out her ISA it no longer makes any financial sense. She's cashed them in bar £100 just to keep her NS&I account open.
Have zero chance of getting my wife to cash hers in, she's addicted to them! My youngest has almost the maximum and seems to do pretty well on them all things considered.0 -
Pretty sure he means cash in the PB'smendonca said:
When you state 'cash the Isa' in, for what purpose exactly? @Rob7LeeRob7Lee said:TBF I agree with a lot of what he says.
But as someone who maxes out their ISA and is a higher rate tax payer they still work for me, just. But a week ago I advised my eldest daughter to cash hers in, she doesn't have the maximum and is a 20% tax payer who doesn't max out her ISA it no longer makes any financial sense. She's cashed them in bar £100 just to keep her NS&I account open.
Have zero chance of getting my wife to cash hers in, she's addicted to them! My youngest has almost the maximum and seems to do pretty well on them all things considered.1 -
Yes, premium bonds,shine166 said:
Pretty sure he means cash in the PB'smendonca said:
When you state 'cash the Isa' in, for what purpose exactly? @Rob7LeeRob7Lee said:TBF I agree with a lot of what he says.
But as someone who maxes out their ISA and is a higher rate tax payer they still work for me, just. But a week ago I advised my eldest daughter to cash hers in, she doesn't have the maximum and is a 20% tax payer who doesn't max out her ISA it no longer makes any financial sense. She's cashed them in bar £100 just to keep her NS&I account open.
Have zero chance of getting my wife to cash hers in, she's addicted to them! My youngest has almost the maximum and seems to do pretty well on them all things considered.1 -
I'm in a similar position. I'm fortunate (unfortunate?) my pensions take me into the higher tax bracket so I max out on ISAs and PBs to minimise the 40% tax burden. My retrurn last calendar year was around 1.3% on the PBs - roughly inline with the interest rate on most instant access accounts - at the time. Hoping for more this year - but the dream of an outside chance of a big win is always there with PB's...Rob7Lee said:
But as someone who maxes out their ISA and is a higher rate tax payer they still work for me, just. But a week ago I advised my eldest daughter to cash hers in, she doesn't have the maximum and is a 20% tax payer who doesn't max out her ISA it no longer makes any financial sense. She's cashed them in bar £100 just to keep her NS&I account open.1 -
Chances of winning £1million: 1:59 Billion
£100k 1; 1,877,995,285 
£50k. 1: 639,317,516. With water meters about to be installed, I prefer 3.55% instant access, or 4.55% 1 year fixed.
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Your 3.55% is 2.13% for a higher tax rate (40%) investor, particularly as there is no savings allowance now. This is pretty much what a median investor is likely to earn from premium bonds. would be 2.84% for lower raate tax payer although there is still a £500 savings allowance before any tax applied.felthamaddict said:Chances of winning £1million: 1:59 Billion £100k 1; 1,877,995,285 £50k. 1: 639,317,516. With water meters about to be installed, I prefer 3.55% instant access, or 4.55% 1 year fixed.0 -
I am not in that bracket. Last year, I received £750 from 50k. Now interest rates have shifted, allowing for 20% above the £1k limit, there is a dilemma. That amount will return £1775 at 3.55 minus tax = 1620, or £2275 @ 4.55% minus tax = £2020 (if my sums are right). 750 + hope or 1620/2020. Have the tax allowances changed?
My estimate is based on the first £1000 being tax free.0 -
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I see PB's as a tax-free savings account, especially if you are a 40% taxpayer. Backed by the Government so no worries about losing it or trying to find another Bank to hoard your cash up to the £85k compo limit. Instant access (within reason) & chance of getting a bigger return than the usual interest rate. Mines there as I sold a property last October & knew I would be buying one later this year. Used up my ISA Allowance so best place for £50k that I needed again within 12 months.5
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It’s been suggested for nearly a year now but Andrew Bailey was reported as saying last week, in the wake of SVB and Cr Suisse in recent weeks, that the limit needs to change especially given that it is c.£200k in the US now. Hopefully that will make it easier for people to manage their savings in future.golfaddick said:I see PB's as a tax-free savings account, especially if you are a 40% taxpayer. Backed by the Government so no worries about losing it or trying to find another Bank to hoard your cash up to the £85k compo limit. Instant access (within reason) & chance of getting a bigger return than the usual interest rate. Mines there as I sold a property last October & knew I would be buying one later this year. Used up my ISA Allowance so best place for £50k that I needed again within 12 months.0 -
I've always said that the limit is meaningless as UK Governments do their utmost to stop Banks going under - Northern rock for example.TelMc32 said:
It’s been suggested for nearly a year now but Andrew Bailey was reported as saying last week, in the wake of SVB and Cr Suisse in recent weeks, that the limit needs to change especially given that it is c.£200k in the US now. Hopefully that will make it easier for people to manage their savings in future.golfaddick said:I see PB's as a tax-free savings account, especially if you are a 40% taxpayer. Backed by the Government so no worries about losing it or trying to find another Bank to hoard your cash up to the £85k compo limit. Instant access (within reason) & chance of getting a bigger return than the usual interest rate. Mines there as I sold a property last October & knew I would be buying one later this year. Used up my ISA Allowance so best place for £50k that I needed again within 12 months.
Woolworths, Debenhams etc. Can all go to the wall but a high street UK bank will always be safe.0 -
I agree @golfaddick but we’ve seen the hoops people go through to open up accounts with different banks should they be fortunate enough to have more than the current limit. In reality, these additional accounts are probably more of a pain for the “secondary” banks, as there is little to no extra business they can do with these clients.golfaddick said:
I've always said that the limit is meaningless as UK Governments do their utmost to stop Banks going under - Northern rock for example.TelMc32 said:
It’s been suggested for nearly a year now but Andrew Bailey was reported as saying last week, in the wake of SVB and Cr Suisse in recent weeks, that the limit needs to change especially given that it is c.£200k in the US now. Hopefully that will make it easier for people to manage their savings in future.golfaddick said:I see PB's as a tax-free savings account, especially if you are a 40% taxpayer. Backed by the Government so no worries about losing it or trying to find another Bank to hoard your cash up to the £85k compo limit. Instant access (within reason) & chance of getting a bigger return than the usual interest rate. Mines there as I sold a property last October & knew I would be buying one later this year. Used up my ISA Allowance so best place for £50k that I needed again within 12 months.
Woolworths, Debenhams etc. Can all go to the wall but a high street UK bank will always be safe.
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1 @ £100 for me & 1 @ £25 for herself from PBs this month.0
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I've only got a thousand of the things and I appreciate this is why I never win.
A hundred quid this month though, chuffed!5 -
Both my wife and I won 1x £100, 1x £50 and 1x £25 so £175 each, youngest £25, father in law to follow.0
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£75 this month just as I was thinking they had lost my numbers2
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5 month in a row of sweet FA0
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I feel for the person in Kent who has a holding of £2 bought in 1957, just won £5k......... Few people with £100 holding won £50k. Never give up!0
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Bugger I got £3 worth brought around then, so it can’t be me.Rob7Lee said:I feel for the person in Kent who has a holding of £2 bought in 1957, just won £5k......... Few people with £100 holding won £50k. Never give up!1 -
£150 today (1 x £100 & 1 x £50).Just checked back and that’s £1,050 over the last 7 draws, including today.0
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After 3 consecutive monthly wins.
Nil this month0 -
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Nothing for me. 2nd time in 4 months. Bugger.0
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£25 each for me and the wife, £50 for my Mum.0
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A 1x£100 for me, £50 and 3x£25 for jnr and zilch for Mrs Chaz.0
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£1250
