Premium Bonds - Not a bean for months now!!!!
Discussion
Just trying to figure whether a financial flutter on these or the lottery is the best bet, out of interest. I know the latter's changing soon so it'll all change.
Pulled these out of the lotto website offs and moneysavingexpert's premium bonds calculator. Not too hot on my maths these days but I think there's a difference between 52 £2 plays and a single £104 play, the latter sounds simpler so let's take it.
At the best savings interest (without any fiddling) of 1.5%, holding £7k in premium bonds would have the same cost in lost interest of £104 a year.
There's probably a flaw in the comparsion, as I'm doing single draw vs. 12 draws. In theory each of my 7000 bonds could all win a prize every month.
Second post coming, formatted text seems to be limited to one per post.
Pulled these out of the lotto website offs and moneysavingexpert's premium bonds calculator. Not too hot on my maths these days but I think there's a difference between 52 £2 plays and a single £104 play, the latter sounds simpler so let's take it.
At the best savings interest (without any fiddling) of 1.5%, holding £7k in premium bonds would have the same cost in lost interest of £104 a year.
There's probably a flaw in the comparsion, as I'm doing single draw vs. 12 draws. In theory each of my 7000 bonds could all win a prize every month.
Lottery 1 draw
1 odds 52 odds
Jackpot 1:13,983,816 1:268,919
£50k 1: 2,330,636 1: 44,820
£1k 1: 55,492 1: 1,067
£100 1: 1,033 5%
£25 1: 57 91%
Second post coming, formatted text seems to be limited to one per post.
Edited by L555BAT on Tuesday 7th July 23:27
Premium bonds 1 year 12 draws
7000 odds
Jackpot 1:319,839
£50k+ 1: 40,059
£1k+ 1: 462
£100+ 42.2%
£75+ 63.5%
£50+ 83.5%
£25+ 96 %
So it seems like lotto for the jackpot (though only slightly better), but premium bonds not much worse and you have a much better chance of getting some small prices.
SimonTheSailor said:
Grumfutock said:
Me = Nowt
Mrs = £25
From £70k
Load of rubbish. 1 more draw and then it is all coming out and getting spent on birds and drugs.
I could be your friend for a while ?Mrs = £25
From £70k
Load of rubbish. 1 more draw and then it is all coming out and getting spent on birds and drugs.
L555BAT said:
Just trying to figure whether a financial flutter on these or the lottery is the best bet, out of interest. I know the latter's changing soon so it'll all change.
Pulled these out of the lotto website offs and moneysavingexpert's premium bonds calculator. Not too hot on my maths these days but I think there's a difference between 52 £2 plays and a single £104 play, the latter sounds simpler so let's take it.
At the best savings interest (without any fiddling) of 1.5%, holding £7k in premium bonds would have the same cost in lost interest of £104 a year.
There's probably a flaw in the comparsion, as I'm doing single draw vs. 12 draws. In theory each of my 7000 bonds could all win a prize every month.
Second post coming, formatted text seems to be limited to one per post.
MSE did a comparison a while back and basically concluded put the money in premium bonds and spend the winnings on lottery tickets.Pulled these out of the lotto website offs and moneysavingexpert's premium bonds calculator. Not too hot on my maths these days but I think there's a difference between 52 £2 plays and a single £104 play, the latter sounds simpler so let's take it.
At the best savings interest (without any fiddling) of 1.5%, holding £7k in premium bonds would have the same cost in lost interest of £104 a year.
There's probably a flaw in the comparsion, as I'm doing single draw vs. 12 draws. In theory each of my 7000 bonds could all win a prize every month.
Lottery 1 draw
1 odds 52 odds
Jackpot 1:13,983,816 1:268,919
£50k 1: 2,330,636 1: 44,820
£1k 1: 55,492 1: 1,067
£100 1: 1,033 5%
£25 1: 57 91%
Second post coming, formatted text seems to be limited to one per post.
Edited by L555BAT on Tuesday 7th July 23:27
Nothing showing yet... we buy a new house at the end of the month so going to take it all out.
Only had £200 since Jan. Our 123 has a similar amount in and has generated close to £400 after tax in the same time.
I suspect this is the last time we will be "investing" in NSI for a while unless they come up with something that gives a better return.
Only had £200 since Jan. Our 123 has a similar amount in and has generated close to £400 after tax in the same time.
I suspect this is the last time we will be "investing" in NSI for a while unless they come up with something that gives a better return.
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