S
sodthisforfun
21 and a new driver. £3000 a year insurance, £15k for the car+ interest over 5 years and it was 3 years old when be had it. Must be mad.
Are you paying him too much?!
Guess he's only young once..
21 and a new driver. £3000 a year insurance, £15k for the car+ interest over 5 years and it was 3 years old when be had it. Must be mad.
And pay more for them..That's the modern way -
no longer work so you can afford things, but
buy on credit so you have to work more to pay for them.
Are you paying him too much?!
Guess he's only young once..
That's the modern way -
no longer work so you can afford things, but
buy on credit so you have to work more to pay for them.
As don't get interest on premium bonds but pay interest on a loan, how does it make you money?
As don't get interest on premium bonds but pay interest on a loan, how does it make you money?
Lotto tickets?! Do the pools still exist?Prizes, I would have been hoping for the £1,000,000 draw.
I was also thinking i’d never save up £10,000 but I would pay back £10,000.
I know how bonds work, ta.the financial model is that the accrued interest is paid into a prize fund, and every bond earns its owner a monthly ticket. The prizes are raffled and every ticket holder has the chance of a prize. The random distribution of raffle prizes means that in any particular draw, any particular bond is unlikely to win. But the more you have, and the longer you hold them, the more your chances of winning approximate to the return determined by the "interest rate" that is paid into the prize fund. Prizes are free of UK tax, which makes them more attractive for higher-rate taxpayers. The value of your bonds is guaranteed by HM government which, unlike, say, an Icelandic bank, is considered very unlikely to go bust and lose all your money.
You've only staked your monthly "interest" into the raffle, your principal £1 is untouched and returned to you if you cash in your bond.
Father in law every time he wins says 'ner-ner', it's a running joke between them now. However, both father in law and better half don't have much luck considering the large amount they've bought in bonds and upping the odds of winning.that might be what he tells you....
I just looked up my winnings over 24 months, and divided them by the number of bonds, and divided by two, and the return is 1.45% p.a.
Some will do better, some will do worse.
Perhaps he has been unlucky.
Save up the dosh and buy bonds by all means, just don't pay interest in order to buy em first.