Premium Bonds -I'm Staying Now

[The Samaritan]

Was considering closing my account with PB's after the June draw.
However, just read this and about time too so shall stay as will my OH


PS:We've always had cash around these are as good as cash as they va be accessed within a few days annd also keep monies in bank - I
I know the inflation rate is high and eating into our substantial cash holdings but we dont want to buy another property or gamble in shares

Premium Bond savings rates boosted by NS&I from June

NS&I will increase the Premium Bonds prize fund rate from 1 to 1.4% boosting the chances of its 21m savers bagging a monthly prize.

www.dailymail.co.uk

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[JohnD]

with inflation topping 9%, I am continuing to run down my cash holdings.

9% minus 1.4% means you are losing 7.6%


see also https://www.moneysavingexpert.com/news/2022/05/ns-i-premium-bond-rate/

 

[The Samaritan]

Indeed, losing cash as it sits in the ban/NS&I but there are a lot of people like me that don't want to buy another property because of the extra taxes and increasing T rights and new council laws where you pay for licences etc, etc.

For us these PB's are not taxed and would be if we were to move into an ordinary bank account etc. I've never done ISA's never bothered and cant be.

fixed rate best at 2.8% but 5 years, lol.

 

[Vinty]

With the predictions of high inflation i am thinking of cashing in my premium bonds and using the money to carry out repairs to my daughters apartment.
The concrete steps leading to her back garden are broken and the path needs dug out and redone, also might consider have the oil boiler taken out and have gas heating installed.
Property is usually a good investment as people will always need somewhere to live.

 

[The Samaritan]

With the predictions of high inflation i am thinking of cashing in my premium bonds and using the money to carry out repairs to my daughters apartment.
The concrete steps leading to her back garden are broken and the path needs dug out and redone, also might consider have the oil boiler taken out and have gas heating installed.
Property is usually a good investment as people will always need somewhere to live.

Parts of Leeds city centre where they built apartments after apartments where up until a year or so ago I'm told still pre peak prices of 2007

Ideal property to invest in a realtively nice place close to transport as ideally you'd be letting out to working people/family etc.

Another option is before anyone goes hard up is renting out a room. I could never do that but a bibling of mine did when they bought their first house - it was was just the two of them, both out to work for about 12 hours of ht e day just like the lodger. I met him once a quik hi, he stayed there for about 5 years and it gave my sibling and thei OH a flying start.