Premium bond winnings.

I won £100 this month, it just goes into my account, one month last year I won £1,000, that was shared with my children.

I usually try and buy something I wouldn't have bought otherwise. Or if it arrives when I've got an appointment for a hair colour it covers that. Sometimes all of it sometimes a bit left over. And sometimes not quite.

But of course there are times when the boiler blows up, or the freezer breaks down or the laptop has a nervous breakdown....etc

I call my premium bonds my vet account ,all winnings are reinvested and my original 10000 is now 17000.

If I had insured him I would have paid out at least £4000 over 10 years
.Luckily he has not needed any treatment but I was prepared as I know how expensive vets are

Last year I won around £3,500 on my PBs. This year not going so well. Every month I think, this is it I’ll get the Big One. Still waiting 🤣. My grandfather gave me a £1 PB in 1956 and I then inherited my father’s which automatically reinvest. I call it my ‘emergency fund’. I’m thinking of having an emergency quite soon as I’m not getting any younger….

Mine goes into my UK bank account which is useful for when I need to send sterling to anyone as well as when I visit the UK(rarely). It saves having to convert it to euros. It all adds up, I’ve never had a big win but so far this year it adds up to £1500 or thereabouts so better than nothing.

I've never won, not even £25. It's a mug's game.

Marmight

Last year I won around £3,500 on my PBs. This year not going so well. Every month I think, this is it I’ll get the Big One. Still waiting 🤣. My grandfather gave me a £1 PB in 1956 and I then inherited my father’s which automatically reinvest. I call it my ‘emergency fund’. I’m thinking of having an emergency quite soon as I’m not getting any younger….

Just a query - I thought you couldn’t inherit PBs. When my husband died, I was able to keep his bonds for a year ( and would have kept any winnings) At the end of the year I had to sell them and then I used the money to buy more and add to my holdings.

I don't think it's a mugs game. I've only held mine for 4 months now. First two wins, £150 each time, third £25, this month nothing! who know that "nothing" may continue or I may win again, small or large. It's just the luck of the draw and the feel good factor of the possibilities.

Of course it’s not a mug’s game. It’s fun - I did well in my first year and now it’s tailed off ( I did wonder about that …😂)

It's not a mug's game if you keep an eye on interest rates, work out the interest you have gained over a year in comparison to other investments such as an ISA.

This month I was looking forward to spending my winnings (£225!) but then came a tooth problem so it will go to the dentist.

No, you can't inherit Premium Bonds directly, they have to be cashed in and the money goes into the estate to be distributed between the heirs.

DH and I find over the year the winnings are equal to interest on a tax free savings product like an ISA. We do both have the maximum. But DD1 with much less invested has done well.

Buying lottery tickets/scratchcards is more of a mugs game..if you don't win anything you have lost your money completely.

I won every month from December to June then nothing in July, so naturally I expected a BIG win in August. Nothing again!
I’ve had bonds for seventy years and win often now I have a lot but I’ve never won a big prize, £200 was by far the biggest.
I count on my modest wins as a valuable extra to my very small income. My winnings go into my current account to help pay the bills. Holidays do not figure in my expenditure.

My husband has had bonds for 50 years and has never won anything.

Sueinkent

My husband has had bonds for 50 years and has never won anything.

If they were bought at different times in small amounts he might be better selling them then buying a block.

Is he tempted to cash them in and buy some more?

I’ve cashed mine in, over two years we had winnings equal to 2% were now getting 4.5% in an Isa

So far over the last couple of years we have won enough over the year to slightly exceed what we would have got from a tax free ISA. So not a mug's game at the moment. I think our money is safer than in a bank and we get an equivalent return plus the bonus of the possibility (not probability) of a big win.

I have one PB worth £1 which was bought for me by my late ex MIL, it has never won anything! Some years ago I bought about £2,000 worth but I think the most I ever won was £25. However a couple of years ago I bought another £5,000 and these have had regular wins of £25,£50and £100. This is quite comparable to ISA interest rates. I didn’t win this month though. I can’t help thinking that somehow only newer bonds go in the draw.!

tanith

My bond winnings go straight to buying more bonds.

And mine - when I win anything, which isn’t very often! I used to have a fairly substantial holding, but most of that went on helping dds with house purchases.

Sueinkent has he checked that he has won but they have a previous address for him?

I am sure I could getter returns by investing in a bank or building society but I just enjoy the frisson of checking at the start of the month if I have been lucky.
As I said up thread, I don’t need to save at my advanced age, I have a house to leave to my family and any money I have is mine to spend as I wish.
A little gamble seems a small return for me.

£250 for me this month. We do quite well over the year usually above or comparable to savings rates. The biggest wine was £500 and we both hold the maximum amount

Marmight

Last year I won around £3,500 on my PBs. This year not going so well. Every month I think, this is it I’ll get the Big One. Still waiting 🤣. My grandfather gave me a £1 PB in 1956 and I then inherited my father’s which automatically reinvest. I call it my ‘emergency fund’. I’m thinking of having an emergency quite soon as I’m not getting any younger….

Definately cannot inherit bonds. NSI will give you the option of leaving them in for 12 months only after death however any prizes cannot be reinvested. A dead person cannot have bonds.

The above should read "a dead person cannot buy NEW bonds".