Premium bonds or saving account.

[kevinjohnsonmbe]

Had a cash advance of 2k to cover travel costs in advance in a previous job (we did a lot of travelling), I bunged it into PB and have had a reasonable tickle every now and again. Nothing significant, but it's a real pleasure when a cheque drops in the mail - it's money I wasn't expecting so it's nice to do a slap up dinner or the like.

 

One think not mentioned so far, watch your upper limits in a bank account, I think it's 80k government sponsored guarantee return of your money if the bank goes bust (that really isn't as far fetched as it might seem) on a sole account, it's higher on a joint account.

 

I've been meaning to dump some cash into PBs, I just like the thought of not letting the greedy, shiny assed traders making investments with my money!

[aspenarb]

I've got a lump of money that isn't needed for anything at the moment (first time in my life that I've said that). So, it's sitting in the bank, not doing a great deal, what with interest rates being what they are. I thought I might invest in Premium bonds, always been a bit of a gambling man. I know there is no interest on premium bonds, but your bonds are entered into a monthly draw with cash prizes.

 

Anyone done this if so with what sort of a return?

 

If its a decent lump shove it into some property and get it let out, nothing beats that.

 

Bob

[eggsarascal]

If its a decent lump shove it into some property and get it let out, nothing beats that.

 

Bob

 

Property is one of the things that Mrs Egg and I have spoken about. We're going to build An extension on our place (planned before this money came our way).

 

I want to have quick access to some of this cash until the extension is finished, that's one of the reasons I thought PB's were a good bet.

 

What next year will bring is anyone's guess!......But property is high on the list.

[gensetsteve]

I've got a lump of money that isn't needed for anything at the moment (first time in my life that I've said that). So, it's sitting in the bank, not doing a great deal, what with interest rates being what they are. I thought I might invest in Premium bonds, always been a bit of a gambling man. I know there is no interest on premium bonds, but your bonds are entered into a monthly draw with cash prizes.

 

Anyone done this if so with what sort of a return?

 

Let u know as I go on stuck 40k in 2weeks ago. Rates in the bank are terrible especially if u pay tax. Ask Jon what he does he got pots of molar

[ArthurBottlesworth]

 

One think not mentioned so far, watch your upper limits in a bank account, I think it's 80k government sponsored guarantee return of your money if the bank goes bust (that really isn't as far fetched as it might seem) on a sole account, it's higher on a joint account.

 

100% right there

Client used to import figaros from japan into cyprus

No tax if you had business in some parts of cyprus

They rebuilt them there ( stripped, painted, carpets dyed etc etc)

Then exported for sale to UK

Lost fortune when cyprus banks folded

[eggsarascal]

Let u know as I go on stuck 40k in 2weeks ago. Rates in the bank are terrible especially if u pay tax. Ask Jon what he does he got pots of molar

 

I was reading the other day that the maximum amount had gone up from 30k to 40k as of the first of this month.

 

Jon flies that far under the radar that not even his nearest and dearest know what he does with all his "tut".

[Billy]

The current accounts are the best ATM from what I've seen paying 3-4% on up to £5k but they want you to put £1000 through it a month too

[eggsarascal]

Let u know as I go on stuck 40k in 2weeks ago. Rates in the bank are terrible especially if u pay tax. Ask Jon what he does he got pots of molar

 

How have your PB's performed in the first six months Steve?

[gensetsteve]

How have your PB's performed in the first six months Steve?

 

Think I have had 5 or 6 cheques for about £25 a time may be a couple for £50 about on par with an isa but you never know when u could get a big one. never with an isa.

[gensetsteve]

The current accounts are the best ATM from what I've seen paying 3-4% on up to £5k but they want you to put £1000 through it a month too

 

 

I see the Santander but it was paying 3 % on max 2k and you have to pay a fee. A few hoops to jump through and you have to pay tax on the interest.