Savings

My DS won £1000 when he was a little boy. My Grandmother had bought him some premium bonds.
His big win had the unfortunate effect of him deciding at age 7 that he would never have to work for a living so he didn't work at school! Argh. He regrets it now.

Gillybob?

It's all going pear shaped! Someone will give you more info but avoid it.

Well I have about £360 in £2 coins a little box in the bottom of my pouffe. I'm saving it for the DGC and not sure if I should maybe move it to under the bed?

What a dilemma.

Newquay please tell me about Metro bank, DS has just suggested putting some money there.

Thank you all SO much for your replies. We already have Nationwide account. Must admit hadn’t given PBS much thought although we do already have some but haven’t won anything for ages and then only the odd £25! It would certainly be easier than the faff I fell we’re having at the mo trying to decide. When I started this a few weeks ago, best account was Metro and they’re going down the tubes now. 7%, of course, sounds wonderful!

Good advice here!! We had £30,000 in pb and won virtually every month, mainly £25, £50 and £100 a month. I don't know what that means in terms of return but it was nice receiving the envelopes and having the thrill of hoping it was a big win.

Our meagre savings are also in Premium Bonds. Like Luckygirl couldn't be bothered to keep shopping around for better rates, and happy with the odd win. ISAs not worth it if you don't earn enough interest to pay tax on it. Have far more concerns than how to make money in my old age.

I'm waiting on a couple of PPI's before perfume buying then I'll know I'll get the right one instead of one " which will do ".

I've been bragging about my win but dh is completely in charge of that side of things. He spends ages in the study playing about! And, it stops him bothering me!!

He usually spots when my perfume is getting low and replaced it. I bought it today and was very glad for my win.

Lucky I suppose that gives you a simple choice - easy access at 1.5% or PBs at 1.4% where you are gambling and could have a win or your money could gradually lose its value. Rather depends if you want to gamble or have security. I have always loved figures so quite enjoy managing our money but DH would hate it and probably make mistakes.

I like life to be simple - I don't want to be tatting around looking for the best interest rates; or the best insurance or fuel providers. Life is too short.

We are not remotely rich, but we have enough to live on and I would rather spend my time doing other things.

Or I'm just lazy maybe!

I've just checked it out the return is higher than I thought 1.4% but it is still a matter of luck if you win or someone else does. I don't think I'm a particularly lucky person! blog.moneysavingexpert.com/2017/11/premium-bond-rate-boosted-1-15-1-4-pile/

life is so short, I know, 3 bereavements in 18 months. We saved for a comfortable old age for me and my husband, now I am one and I have enough for care if ever needed, so I buy what I want when I want it. I could spend loads on holidays but don`t really fancy a holiday, happy to have nice food, pottering and days out.

I do still keep an eye on savings rates eg yorkshire has gone down to very low, so I transferred the lot to virgin. Tbh I cannot really be bothered to open new accounts. I like premium bonds and the tax free prizes too. I look after the sipp, decided to change from shares to safe and steady income, being my age and having to be risk averse. The excitement of share trading has gone but served us well in the past

Well obviously the more you hold the better your chances.
However one of the million £ winners this month held just over £4000 's worth, so odds can be beaten.

How many Premium Bonds gives you a good return? I have had £1000 worth for many years - one measly £25 is all I’ve won.

I won't buy PBs then as you are all the lucky winners! I think overall they pay out about 1.3% so not as good as easy access. Incidentally, unless you have more than £1000 per year in interest you don't pay tax on your savings. If you do earn more than that you only pay tax on the additional amount.

Santander give 1.5% up to £20k but also cask back on all sorts of things. I have only had premium bonds since January and won for four months. Kitty has my May win!

It did, charley, but I expect that's it for years now and it will be back to £25 every now and again!!

kitty congratulations- I do not think I have "known" anybody to have won so much. That would put a smile on your face!

I find that I make more from my Premium Bonds than from my bank accounts.
The best interest I could manage for an ISA was 1.8% and that was for three years.
My rainy day savings are in index linked certificates which I have had for many years and sadly not available to new investors.
We did think our second home was better value than money in the bank but the estate agent has told us that there is little chance of it selling, despite it being located just outside the Lake District National Park.

I won £575 on Premium Bonds this month. Dh also won but not as much as me!!!

We also have stocks and shares but dh has always followed the stick market so it is a bit of a hobby

My one suggestion for shares was Northern Rock - enough said!

All our savings are in Premium Bonds - simple, tax free, no brain effort required. We get about 1.8% - can't grumble about that in the current situation.

I won £25 x 2 this month with my premium bonds this month so I was very pleased. I do not have the full amount- that is a dream.

Coolgran - good financial adviser- 7% is a nice little earner