Premium Bonds - February 2023

I had no malicious intentions whatsoever in posting this.
Well, I thought it was funny.

But I was preparing my banner and my Thermos flask to go and protest outside the Treasury.

You’re doing a good thing!
When you save with us, what you’re actually doing is lending your money to the government and in return the government gives you interest on your money or, in the case of Premium Bonds, the chance to win cash prizes.

Because we’re part of the government we can guarantee that 100% of your money is safe - we have the unique backing of HM Treasury and that’s something nobody else can offer.

nothing for me today. I usually get 1 or 2 zeros a year. The 3 dgc got £175, £75 and £50 all will be re-invested

Oh, that posted itself...

Last point.

Investment in premium bonds, guaranteed to get your principle back because nation cannot go bankrupt. But it will, of course, lost value because of inflation.

But it’s not going to happen MaizieD. I imagine most of us knew the link already, so I don’t understand the point of your original post at all when being the economist you are, you know that too. All investment carries a risk to some degree, but this is very low risk compared to many others.

I don't think that most of us knew the link already, judging from the reactions. I think people are generally (and I don't mean this nastily at all) quite ignorant of how government finance and spending works. The 'debt' is such a massive political issue when it comes to general elections I think people ought to be clear about exactly what it is. Maybe it isn't my place to try to get people to understand, but

Nothing for us this month - but there’s always next month! I’m always grateful for any win!
Personally I love it when those high wins go to those that don’t hold the full amount - makes me feel like we have a chance!😂

Rosie51

MaizieD

Well, I hope I don't see any of you on any other threads supporting government cuts to public services 'because we can't afford it because the national debt is too big'.

Funny how you don't seem to want it repaid after all when it's your Bonds, part of the National Debt, that might be repaid 😀

What a thoroughly unnecessary and unpleasant post. Some very horrible assumptions being made when only 4 people had posted before your initial comment. On what basis are you accusing people of certain motivations?

I think you are completely misunderstanding what I am saying.

All I am saying is that your bonds are part of the National Debt. (As is, curiously enough, all the notes and coins in circulation)

So when people are moaning about the National Debt and worrying about the nation going bankrupt, and saying that we can't afford the NHS because we've borrowed too much, they might remember their premium bonds and have a rethink...

I had no malicious intentions whatsoever in posting this. I even have a few premium bonds tucked away somewhere and I won £50 once, about 30 years ago. It's nice that you enjoy your wins.

MaizieD

Rosie51

MaizieD

What will you all do when the government redeems your Premium Bonds as art of its reducing the National Debt programme?

What do you mean by "redeems"? Pay back our holdings? How would that reduce the national debt?

Because your Bonds are part of government borrowings. If they were to pay you all back that would cut the National Debt by about £60billions. 😀

But it’s not going to happen MaizieD. I imagine most of us knew the link already, so I don’t understand the point of your original post at all when being the economist you are, you know that too. All investment carries a risk to some degree, but this is very low risk compared to many others.

Nothing for me for the second month in a row but I had cashed in a sizeable chunk to pay a large bill.

Me nothing, husband £50. His third win in a row. We are going to be a bit more asidious in checking if the return we are getting is better than the current % rises in savings. Up to date it has been a better return but with the deals that Martin Lewis mentions on his show, perhaps we will be ditching them.

Just £25.00 between us. Sigh.....

Granny23, I imagine most posters have a large or full holding which is why they win regularly. But I did read that someone once won a million with only £17 in bonds. I won £50 this month, nothing last.

When my Uncle died 10 years ago, I inherited his £1000 of premium bonds. I did a check and discovered that he had not won anything even £25 in all the 20 to 30 years he had held them. Foolishly, I decided to put the £1000 back into bonds in his memory. I won £25 right away and not a sausage since.

You will understand that I am not thrilled to see these monthly reports from happy winners.

It's not up to us to use our bonds to repay the national debt. In our case anyway, buying bonds was just a way of hopefully getting a few wins when there was very little interest around. So if they take our bonds they'll take people's savings too. What a ridiculous notion.

MaizieD

Well, I hope I don't see any of you on any other threads supporting government cuts to public services 'because we can't afford it because the national debt is too big'.

Funny how you don't seem to want it repaid after all when it's your Bonds, part of the National Debt, that might be repaid 😀

What a thoroughly unnecessary and unpleasant post. Some very horrible assumptions being made when only 4 people had posted before your initial comment. On what basis are you accusing people of certain motivations?

Rosie51. Because the 119 billion Premium Bonds in circulation is money loaned to the Government on which they pay (some) bond holders interest through monthy prizes. It represents 5% of the national debt. The prize fund equates to 3% interest shared out unevenly.

Rosie51

MaizieD

What will you all do when the government redeems your Premium Bonds as art of its reducing the National Debt programme?

What do you mean by "redeems"? Pay back our holdings? How would that reduce the national debt?

Because your Bonds are part of government borrowings. If they were to pay you all back that would cut the National Debt by about £60billions. 😀

£50 today. I seem to get that most months.

😢 nothing this month

Well, I hope I don't see any of you on any other threads supporting government cuts to public services 'because we can't afford it because the national debt is too big'.

Funny how you don't seem to want it repaid after all when it's your Bonds, part of the National Debt, that might be repaid 😀

MaizieD

What will you all do when the government redeems your Premium Bonds as art of its reducing the National Debt programme?

What do you mean by "redeems"? Pay back our holdings? How would that reduce the national debt?

Callistemon If the government try to grab ours, we'll whip them out and spend them.

Oh dear, I thought it was funny.
Just me, then.

Actually, I was wondering, until recently, if they might want to borrow more from us.

MaizieD

What will you all do when the government redeems your Premium Bonds as art of its reducing the National Debt programme?

Spend, spend, spend 😂😂😂

Probably on new knees if the NHS can't deliver.
☹

I take it you don't approve of these bonds Mazie?

MaizieD How unpleasant.