I found my parents bonds from 1973 which I am told is still less than £100 after all that time. It seems they were clearly sweet talked at the time by some financial advisor but only purchased £7 at the time (roughly £75 in today's money) . That money is going nowhere clearly so I plan to withdraw it and pay some bills off instead. There are betters ways to invest I think when you consider time vs money.
I wouldn't see these as investments, as an investment they are usually terrible. It is however usually a good place to store money that you will need soon.
Premium bonds only make sense if you have already maxed out your ISA allowance (IMO). Even then, the chances of winning are low unless you have a significant amount. I have had £1000 in bonds for many years and only won twice (£25 and £100). Which is ok. My wife recently used inheritance to buy full 50k and won £100 on her first draw. We’ll see how it goes over the year
I wonder if anyone with a very low amount of money has ever won anything big - the chance/luck. Chance is same for bond..so maybe someone out there, possibly?
In 2004, someone with just £17 in holdings won the million pound jackpot. More than 10 people have won the jackpot after holding premium bonds for only 2 months!
@Dr.JubairsFinance is it because I put in £25 a time? Let's say I put in £25 a time and managed to save quite a bit, would it still make no difference as I should put in bigger deposits? I thought every bond ticket was unique.
Don’t bother. Before I was financially literate I put 100k in. 2 accounts. What a joke. 1 would Constantly get nothing from 1 account and the odd £25 from the other. This is just like losers that play the lottery or buy scratch cards. Emergency fund in a savings account or T212 is the best idea. Then invest in stocks with the rest
I can't imagine you were too financially illiterate if you had £100k to spare. I wouldn't put that much in as an investment, I only use it as an emergency fund.
@@Cosmo38436 Even the people that don't win don't consider themselves losers for playing but that doesn't mean they aren't statistically making unwise investments.
the maximum is 50K I have 2 accounts at maximum for 3 years and the vast majority of time never win anything! return is just awful if you have the cash put it in an ISA
I do not see them increasing it any time soon, because it would change the odds of everything as there are a lot of wealthy people who could easily put in £50k
Thanks for video. Just bought £5000 worth 🤞
You're very welcome, good luck!
s & p 500 way better mate don’t bother
Nice video and good to see you winning so many times, i have been doing it for 4 years and won once (£25)
Oh wow, so interesting to see what other people get
How much do you hold in premium bonds?
Looks like you were pretty lucky with those returns.
Yes, definitely would consider myself lucky
I deposited the max £50k at the end of July 2024.Wasn’t eligible for the draw on Aug 1st. Luckily won £1025 in Sept and another £75 in October.
That's amazing! I've never seen such high numbers for myself
I found my parents bonds from 1973 which I am told is still less than £100 after all that time. It seems they were clearly sweet talked at the time by some financial advisor but only purchased £7 at the time (roughly £75 in today's money) . That money is going nowhere clearly so I plan to withdraw it and pay some bills off instead. There are betters ways to invest I think when you consider time vs money.
I wouldn't see these as investments, as an investment they are usually terrible. It is however usually a good place to store money that you will need soon.
You really should do a comparison with investing the same amount of money in a good easy access account or a good ISA.
I've actually done one before! ua-cam.com/video/-wiwnejbp7A/v-deo.htmlsi=ZFNytQDL9TDN5mm_
But I can do an updated one
From May to Aug 2024 my Mum has won 100 pounds, my Dad has not had a win for like over 16 months,
And what amount did they deposit?
@@acmramon my Mum has 3000 pounds in, and started mid 2021. my Dad has 2000 pounds and started his a few months later.
Seems like I'm lucky then!
@@pagrantguess the more you deposit , chances are higher. 🤷🏻♂️
I want to deposit in premium bonds but i invested those money with T212, and still on red😄 it would be nice to have them both😇
Things will get better in the stock market, you can always buy premium bonds later
@@Dr.JubairsFinance This is true as your circumstances may improve and you may have funds in the future.
Premium bonds only make sense if you have already maxed out your ISA allowance (IMO). Even then, the chances of winning are low unless you have a significant amount. I have had £1000 in bonds for many years and only won twice (£25 and £100). Which is ok. My wife recently used inheritance to buy full 50k and won £100 on her first draw. We’ll see how it goes over the year
Also makes sense when you have no personal savings allowance left, thanks for commenting!
50k in bonds regular win 1800 a month
I wonder if anyone with a very low amount of money has ever won anything big - the chance/luck. Chance is same for bond..so maybe someone out there, possibly?
In 2004, someone with just £17 in holdings won the million pound jackpot. More than 10 people have won the jackpot after holding premium bonds for only 2 months!
@Dr.JubairsFinance really!! But the minimum is £25 ??
It wasn't always £25, people bought bonds for £1 back then
I've had a £1000 in there since summer 2022 and not won a bean.
Hopefully you will soon?
I must be extremely unlucky had 12k in for nearly 4 years won 2 x £25
Maybe I've just been lucky!
I can only afford to deposit £25 now and again (not very often)! Am I wasting my time?
There's always a chance, but with £25, I wouldn't count on winning much
@Dr.JubairsFinance is it because I put in £25 a time? Let's say I put in £25 a time and managed to save quite a bit, would it still make no difference as I should put in bigger deposits? I thought every bond ticket was unique.
Don’t bother. Before I was financially literate I put 100k in. 2 accounts. What a joke. 1 would
Constantly get nothing from 1 account and the odd £25 from the other. This is just like losers that play the lottery or buy scratch cards. Emergency fund in a savings account or T212 is the best idea. Then invest in stocks with the rest
I can't imagine you were too financially illiterate if you had £100k to spare. I wouldn't put that much in as an investment, I only use it as an emergency fund.
I don’t think the people that’s won the lottery would consider them selfs losers 😁
Dont believe you. You arent literate.
@@Cosmo38436 Even the people that don't win don't consider themselves losers for playing but that doesn't mean they aren't statistically making unwise investments.
The S&P 500 averages 10% ROI for last 100 years
Yep very good, but not great as an emergency fund!
I've won every month this year.
Nice one! Glad to hear
Nothing as I don't hold any Premium Bonds as I have very limited funds.
Financial situations can always change, I hope it becomes better for you.
I know a few people with the maximum of 40k allowance and never get this lucky! Well done. I have 6k and won £100 in 6months
Good to know that I'm getting lucky here!
the maximum is 50K I have 2 accounts at maximum for 3 years and the vast majority of time never win anything! return is just awful if you have the cash put it in an ISA
Last financial year I won 3.1%. When will they increase the amount we can invest do you think?
I do not see them increasing it any time soon, because it would change the odds of everything as there are a lot of wealthy people who could easily put in £50k