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I thought it would be interesting to do a monthly payment into PBs starting with the end of this month. I'm looking at c.£500 each time to start forming a warchest/pay down the 6 monthly income tax.
The money goes into the draw one full month after the payment has been made - eg. Nov 18 = Jan 19 draw.
I'm looking to do this for at least a year, it'll be interesting to see what sort of return Joe Public gets ;->I'll update this anchor part of the thread each time there is a win/no win. Wins I'm planning on re-investing automatically. There's £50 in it at the moment, which of course hasn't won anything so it will be an interesting experiment.Nov 18 (for Jan 19 onwards) - £550 deposited.Dec 18 (for Feb 19 onwards) - £1050 deposited, no winnings Jan 2019.Jan 19 (for Mar 19 onwards) - £1550 deposited, no winnings Feb 2019.
Do share news of your winnings with us! Related topic: War Chest - Where do you keep yours?
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
My experience, Adam_ ...
Over the year, winnings totalled more than bank interest would in the same period, even accounting for inflation. Will be interested to hear how you get on!
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What did it for me was £1.20 monthly 'income' from nearly 5 figures in my E-ISA. :-<
If I get one win in the year it will be more than I'll get from the E-ISA.
Line up everyone with £1,000 worth of Premium Bonds in order of their year's winnings, and the person halfway along would have won… not a penny! In fact, you'd need to walk past almost two-thirds of the line until you hit the first £25 winner.
Premium Bonds are the UK's biggest savings product, with around 21 million people saving almost £72 BILLION in them. Yet with a low Premium Bond rate and the fact for most people all savings are now tax-free – have they lost their lustre? MoneySavingExpert's Martin Lewis uses exclusive statistical analysis to interrogate the big question: Are Premium Bonds worth it?
Adam im not sure your results will demonstrate "what sort of return Joe Public gets" as they are more of a lottery, than a savings.
You may win, or you may not win. So there is no Mr Average or Mr Joe Public here.
Just unlock people, lucky people and really lucky people.
_________________________________________________________________________My posts are not financial advice, just a rambling guy passing time on a coffee break.The team at Bespoke Finance offers advice, including Limited Company Buy-to-Let , HMO Conversion and Cheap Life Insurance._________________________________________________________________________
I love PB`s
Safe gamble as you get your stake back
The joy of checking every month if you have won is unsurpassed
I get most months £25 . Once got £800
One day it will be the million jackpot I`m sure
Cant go wrong really and a great place to stash some cash in my view
Jonathan Clarke. http://www.buytoletmk.com
I use them every month to save my income tax
I just ask for the cash every six months and pay my tax
it’s better than lottery thousands of chances every month
with s24 I will be putting more in every month
so I have to win big one day lol
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
That's what I plan on using it for as well - the 6 monthly tax return figure.
Seems to work out at about 3% annual interest overall for me. I read somewhere that the percentage interest is greater the more bonds you have, with over £20,000 the recommended amount to get a reasonable return.
Afraid this isn't the case, it's a fixed probability, they adjust the chance once in a while but I think it currently sits at 1.4% annual return averaged across the whole product.