Savings Account or Premium Bonds?

No, Doodledog - it was just a suggestion that he feels I have too much cash at hand (as if).
Unfortunately, since DH died, my income often doesn’t cover my outgoings, so I’m dipping into it. Plus, while you can win with S&S, your capital’s at risk, so I think I’ll just buy a few PBs.

I won £25 this month (I have the max)

Well..... I had one cheque for £100 and four for £25. So used to only £25 ones that I didn't notice the former. Happily, the bank did.

Congratulations to all the winners!

I have decided that ERNIE is saving all my luck for the big prize, which will be mine very soon .

DH & I won £175 this month on a £95k holding of PBs. £50 last month.

£100 for me ?

£25 for me.

£100 this month. I like that there is no tax and no declaration needed.

£25 each this month.

tanith

How did everyone do this month mine was £25x2 it’s been a good year.

I got £25 and DH got 3x£25. Good year for us too.

tanith

How did everyone do this month mine was £25x2 it’s been a good year.

2 x £25 here too.
I am also getting 1.5% on instant access savings with Chas Bank. So making about the same on both.

Kim19

If your cash is 'languishing' then I recommend Virgin cash isa fixed for 1 year @ 2.06% On the other hand (and depending on amount involved, of course) Premium bonds are fun

Thanks, Kim. I'll look at that. I don't think I am cut out for even low risk investment, so cash is better for me. I'm told it is better not to sell S&S when they are low, though.

I think I have £32k, but that should still give me a reasonable chance of an odd win? It seems I am not lucky, though .

If your cash is 'languishing' then I recommend Virgin cash isa fixed for 1 year @ 2.06% On the other hand (and depending on amount involved, of course) Premium bonds are fun

I have 50k in there so that clearly ups my chances - and don't forget I am a Luckygirl!

That was my thinking too, but it hasn't worked out like that . I have the old max and didn't feel like upping it when they increased it a couple of years ago (I think it's now £50k?).

Just checked for July - £75 - and I won the same last month!! A steady trickle and tax free.

I have the max holding of PBs. They provide a steady income which averages out at about £50 per month. I like them because it is simple, and also because of the tiny frisson of a possibility that I might become a millionaire!

Georgesgran, did your FA suggest a particular ISA? I have a S&S one with Nutmeg, and it has lost £2k in the last year. It doesn't have a huge amount in it either (I am quite risk averse), so I'd be very wary of putting life savings into one.

tanith

How did everyone do this month mine was £25x2 it’s been a good year.

Nothing. Again. I checked, and the last time I won was £25 in 2018. Someone else has got my share of the good luck, I think.

I had a visit from my financial advisor last week. His advice was to allow me to invest some of my cash ISA into stocks and share ISA, because if I need a big item in a few years time my cash will have lost some of its buying power, through inflation. I wasn’t happy to tie my money up, so he said to buy some premium bonds and hopefully any prizes will offset the depreciation.

How did everyone do this month mine was £25x2 it’s been a good year.

I’m sticking with cash ISAs for now, although interest rates are better in some normal savings accounts. Partly because the £1000 tax free savings allowance could easily be removed in the future, and partly because it leaves the option open if transferring the cash ISA into a stocks & shares ISA.

I won 3 x £25 this month, husband won nothing and son with only £1250 won £25. My savings account interest has just increased to 1.3%.

I won £100 this month on the premium bonds ? 4 x £25 prizes. Plus the interest on my easy access cash ISA has been increased to 1.25%. So feel like I am winning at the moment.?