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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!
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.
_________________________________________________________________________The above post is not financial advice, its often me rambling - passing time on a coffee break.If you are looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance._________________________________________________________________________
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.