Premium bonds

Chippy_boy said:
Have you had a go at spread betting mate? Probably not for this thread, but I was out of work for 18 months and was doing that for a while. Once I'd found my way of working (and after a few er "mishaps") I was making really good money on that. I genuinely think you can start with a couple of grand and end up being a millionaire if you're any good at it. The scary bit is you could start with a couple of grand and lose ten, which is why spread betting got such bad press. Too many muppets without much money thought it was a get rich quick opportunity and lost more than their shirts on it. So they've tightened up the margin requirements a lot now, which means it's safer, but also a lot more difficult to make an amazing return. I was making on average 1.1% *per day*, which when you think about it, is absolutely ridiculous - I was doubling my money every 13 weeks! The problem was (a) it was far to stressful for me, (b) it was super intense and all-consuming and (c) I kept losing shed loads of my winnings, which I found really emotionally difficult to deal with. You need nerves of steel and blood that runs ice cold to do it successfully.
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I just use the spread betting firms to take advantage of their promos, even that is getting tougher though as they are limiting you to betting on certain markets. Le tissier tried making his mates money on spread betting and fucked up haha.

Pound for pound the best money earner is high risk casino, you need balls of steel and to trust the maths behind it. I know someone who does it full time he clears on average 30k a month tax free. He has made over 500k now doing it, requires no emotional attachment to money though.

Another lad I speak to is moving to Australia for 3 month to take advantage of their offers will make his stay free haha.
 
Scottyboi said:
requires no emotional attachment to money though.
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Same with spread betting. I ended up purely placing bets on the movement of the FTSE100, minute by minute, hour by hour. When you're doing it for a few quid it's fine, but when you're a couple of hundred quid down in an hour, I found that really tough. You've got to be cold and completely unemotional or it ruins your judgement. If you're OK making a few quid a week it's probably fine but if you want to make a million, then the problem is that every day you needed to gamble more and more and no matter how much I told myself "it doesn't matter, it's only my winnings I'm gambling with" that got harder and harder to do and I got progressively worse at it as a result.
 
Scottyboi said:
You know shit loads regarding all this was just wondering do you think we will ever see decent interest saving rates anytime soon? Or does the bank simply not need are money as much anymore?

I look back and jesus people had it good in the 90s when it come to savings and house prices.
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The banks take their rate from the BoE base rate. The BoE are keeping rates low to make borrowing cheaper to help the economy. You won’t see decent savings rates until the economy is stronger and/or inflation is rising.

Anyway, savings accounts aren’t meant to grow your money, they’re there to offset some of the effects of inflation.

The better off use other assets to grow money and use savings accounts for ‘emergency cash’ reserves.
 
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SWP's back said:
The banks take their rate from the BoE bade rate. The BoE are keeping rates low to make borrowing cheaper to help the economy. You won’t see decent savings rates until the economy is stronger and/or inflation is rising.

Anyway, savings accounts aren’t meant to grow your money, they’re there to offset some of the effects of inflation.

The better off use other assets to grow money and use savings accounts for ‘emergency cash’ reserves.
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Agree with all of the above but just to note Carney said only yesterday I think that there's a chance base rates may have to go up rather more and more quickly than previously suggested.

I'm guess for many, many people that will be bad news not good since they will very likely be losing more on their tracker mortgage payments than they make of their savings accounts.
 
Chippy_boy said:
Same with spread betting. I ended up purely placing bets on the movement of the FTSE100, minute by minute, hour by hour. When you're doing it for a few quid it's fine, but when you're a couple of hundred quid down in an hour, I found that really tough. You've got to be cold and completely unemotional or it ruins your judgement. If you're OK making a few quid a week it's probably fine but if you want to make a million, then the problem is that every day you needed to gamble more and more and no matter how much I told myself "it doesn't matter, it's only my winnings I'm gambling with" that got harder and harder to do and I got progressively worse at it as a result.
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Chippy_boy said:
Same with spread betting. I ended up purely placing bets on the movement of the FTSE100, minute by minute, hour by hour. When you're doing it for a few quid it's fine, but when you're a couple of hundred quid down in an hour, I found that really tough. You've got to be cold and completely unemotional or it ruins your judgement. If you're OK making a few quid a week it's probably fine but if you want to make a million, then the problem is that every day you needed to gamble more and more and no matter how much I told myself "it doesn't matter, it's only my winnings I'm gambling with" that got harder and harder to do and I got progressively worse at it as a result.
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Yeah without a doubt, when you bust 30 £100 casino buys in a row it tests your nerves. I did it for one month made 900 profit but it wasn't easy.
 
Chippy_boy said:
Agree with all of the above but just to note Carney said only yesterday I think that there's a chance base rates may have to go up rather more and more quickly than previously suggested.

I'm guess for many, many people that will be bad news not good since they will very likely be losing more on their tracker mortgage payments than they make of their savings accounts.
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Yeah but they’re only looking at 1.5-2% as opposed to 3-5%. It’s a very fine balancing act.
 
SWP's back said:
The banks take their rate from the BoE base rate. The BoE are keeping rates low to make borrowing cheaper to help the economy. You won’t see decent savings rates until the economy is stronger and/or inflation is rising.

Anyway, savings accounts aren’t meant to grow your money, they’re there to offset some of the effects of inflation.

The better off use other assets to grow money and use savings accounts for ‘emergency cash’ reserves.
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Ah I see makes sense, so say I fill my 20k isa allowance vanguard in a couple of months I would still be better off just topping that up instead of using a savings account? Do you have any more information regarding the 5000 interest being tax free, I could only find the 1k allowance. Cheers
 
Scottyboi said:
Ah I see makes sense, so say I fill my 20k isa allowance vanguard in a couple of months I would still be better off just topping that up instead of using a savings account? Do you have any more information regarding the 5000 interest being tax free, I could only find the 1k allowance. Cheers
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https://www.gov.uk/apply-tax-free-interest-on-savings

You only get all £5,000 if you earn less than £12,500 a year. The £5k reduces by £1 for each £1 you earn over the personal income tax allowance.
 
Scottyboi said:
You have to adapt mate I'm earning more than ever at the minute but I don't take close matches or use oddsmatchers and avoid price boosts

I love it mate changed my life.
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how do you continue to make money then? casino? (I'm the unluckiest player ever) arbing?
 
flook said:
how do you continue to make money then? casino? (I'm the unluckiest player ever) arbing?
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Arbing blacktype and doing low risk casino no such thing as unlucky mate gotta trust the estimated value. I have loads of accounts still too
 
Blue Hefner said:
My business partner put £10k in about 5 weeks ago simply with a view to leaving there and seeing what happens. From my limited understanding there aren't many cons, particularly given the low interest rates the banks are offering currently
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I had the then maximum amount in bonds for over a year and won fuck all... My Mum had a very small amount in bonds at the same time and won £100 in the same period...
 
Scottyboi said:
Arbing blacktype and doing low risk casino no such thing as unlucky mate gotta trust the estimated value. I have loads of accounts still too
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from personal experience I'd argue your casino assertion :) I know the theory, unfortunately it doesn't apply to me for some reason

Blacktype however, brilliant for arbing, I lasted a quite lucrative fortnight :(
 
worsleyweb said:
I can tell you from experience they don’t produce a great return on investment.
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Depends on your approach to risk, I suppose.

I once dumped a load on an overseas, overnight, short term investment - which came good.

My advisors always tell me to get in and out quick. Never leave your deposits in one place for too long waiting for the opportunity to mature. High risk, high return - then move on to the next opportunity.

That's why I've never fancied Ernie...
 
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One of this months millionaires won from a block of 50 bonds bought 23 years ago and someone has had 1 premium bond bought in 1963 has just won £5k, neither of which is me , think £350 is my biggest win.
 
bluebc said:
View attachment 97321View attachment 97322
One of this months millionaires won from a block of 50 bonds bought 23 years ago and someone has had 1 premium bond bought in 1963 has just won £5k, neither of which is me , think £350 is my biggest win.
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The March 63 win will be a present for a new born child
Chances are that prize will never be claimed
 
Eccles Blue said:
Now you are all going to laugh at this but I don't care!!

I have had ONE Premium Bond since the week they first came out in November 1956. At the firm I then worked for we all put in 1/- a week (5p for you youngsters) and as there were 20 of us we bought 1 bond and had a draw to see what order we would receive a bond and my name came out first. The idea was that, whilst we worked together, if we won the money would be split equally between us all. When someone left the bond went with them. (Just to give you an idea of prices etc. I was earning £2.00 a week at the time so a shilling felt like a lot of money when I was giving my Mum £1.15s for my keep. (£1.75 young 'uns) and having 5 shillings (25p) to pay for my lunches and my bus fares to work and my pocket money!!

Now 62 and a half years later, I am still waiting for my win!! But it is too much trouble to cash it in for £1 when maybe before I die I will win!! Is that the eternal optimist in me or what? After all I was supporting City for 50 odd years before we got some luck there!!! :-)


When I had my kids I bought them 1 each at the time of their birth and they have all won small amounts over the years!! But nothing for a few years now. I don't really think, now that they can only be bought in 'bulk', that ours actually still go in the draw!!! (just kidding)
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My parents gave me a premium bond on my 21st birthday, 54 years on and nothing yet, but maybe the cheque is in the post!
 
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