£200 today. Not won a penny since December (to be fair there wasn’t much in the account to win with until recently), so let’s hope this is the start of a good run!
With thanks to this thread, I finally got around to putting a chunk of money into Premium Bonds. First time I've ever really done anything remotely 'different' with my savings beyond just letting them sit there in a bank account.
£150 for my first prize.
Nice first hit, but still behind savings if you’ve £50,000 in.
With thanks to this thread, I finally got around to putting a chunk of money into Premium Bonds. First time I've ever really done anything remotely 'different' with my savings beyond just letting them sit there in a bank account.
£150 for my first prize.
Nice first hit, but still behind savings if you’ve £50,000 in.
Even as a 45% tax payer?
I still have the majority of my money in regular savings, but I will have a tax bill for it at the end of the financial year. I just thought it would be a good idea to put some of it into a place where there’s the very remote chance I could get a decent sized win one day. And of course, the tax free returns are nice.
With thanks to this thread, I finally got around to putting a chunk of money into Premium Bonds. First time I've ever really done anything remotely 'different' with my savings beyond just letting them sit there in a bank account.
£150 for my first prize.
Nice first hit, but still behind savings if you’ve £50,000 in.
Even as a 45% tax payer?
I still have the majority of my money in savings, but I will have a tax bill for it at the end of the financial year.
Annualised that would be £1800 or 3.6% net if £50k. If you are a higher rate tax payer it's minimum 6% gross, not aware of any instant access paying that yet.
With thanks to this thread, I finally got around to putting a chunk of money into Premium Bonds. First time I've ever really done anything remotely 'different' with my savings beyond just letting them sit there in a bank account.
£150 for my first prize.
Nice first hit, but still behind savings if you’ve £50,000 in.
Even as a 45% tax payer?
I still have the majority of my money in savings, but I will have a tax bill for it at the end of the financial year.
Annualised that would be £1800 or 3.6% net if £50k. If you are a higher rate tax payer it's minimum 6% gross, not aware of any instant access paying that yet.
Exactly that.
If I remember correctly you need to multiply a tax free rate by 1.66 for 40% tax payers and 1.82 for a 45% tax payer to get a savings rate comparable (saw it on Martin Lewis) which makes premium bonds a very attractive easy access account, and it's a lot more fun!
Maxing out ISA allowance then buying premium bonds makes the most sense to me if a 40-45% tax payer (as long as you don't have other forms of debt that are more expensive).
With thanks to this thread, I finally got around to putting a chunk of money into Premium Bonds. First time I've ever really done anything remotely 'different' with my savings beyond just letting them sit there in a bank account.
£150 for my first prize.
Nice first hit, but still behind savings if you’ve £50,000 in.
Probably comparable over 12 months.
£1800 tax free. If you are a higher tax payer you would get £500 tax free interest and anything on top would be taxed at 40%. 5% instant access (which PB's are in reality) would give you £2.5k. Take off the £500 tax free savings allowance, leaving £2000 to be taxed at 40%. £800 in tax leaves £1200. Add in the £500 tax free allowance gives you £1700.
With Market at 7252 this morning how are peoples investments holding up with the FTSE heading South every day. My share / fund holdings are down by 5.6% from recent high. Although this is savings not pension, as I declined transferring my DB Lloyds pension.
With Market at 7252 this morning how are peoples investments holding up with the FTSE heading South every day. My share / fund holdings are down by 5.6% from recent high. Although this is savings not pension, as I declined transferring my DB Lloyds pension.
I try not to check mine too often - it can mess with your head when its having a downturn. There will be ups and downs but in the medium to longer term history says it'll pay off. Dont let bad days get to you.
With Market at 7252 this morning how are peoples investments holding up with the FTSE heading South every day. My share / fund holdings are down by 5.6% from recent high. Although this is savings not pension, as I declined transferring my DB Lloyds pension.
My pension is down 1.7% since the turn of the month. Still up over 7% in the last 12 months.
Comments
I still have the majority of my money in regular savings, but I will have a tax bill for it at the end of the financial year. I just thought it would be a good idea to put some of it into a place where there’s the very remote chance I could get a decent sized win one day. And of course, the tax free returns are nice.
If I remember correctly you need to multiply a tax free rate by 1.66 for 40% tax payers and 1.82 for a 45% tax payer to get a savings rate comparable (saw it on Martin Lewis) which makes premium bonds a very attractive easy access account, and it's a lot more fun!
Maxing out ISA allowance then buying premium bonds makes the most sense to me if a 40-45% tax payer (as long as you don't have other forms of debt that are more expensive).
£1800 tax free. If you are a higher tax payer you would get £500 tax free interest and anything on top would be taxed at 40%. 5% instant access (which PB's are in reality) would give you £2.5k. Take off the £500 tax free savings allowance, leaving £2000 to be taxed at 40%. £800 in tax leaves £1200. Add in the £500 tax free allowance gives you £1700.
FTSE down 2.2% with most European markets down the same- France down almost 3%.
US opened lower with S&P500 down 1.3% and DJ down 1.4%.
Tbf they are currently the best around & are snowed under with applications.
I'm sure there is another way of combating inflation than simply putting up interest rates every time.
My pension is down 1.7% since the turn of the month. Still up over 7% in the last 12 months.
Also, how's everyone's investments doing? My pension is back to an all time high, I'm making more a month on it than my gross salary!
Really good fun finishing above financial experts.
Bring it on again please.