Better than the lottery. (Premium Bonds)

Member Name: moonbailey

Product:	Premium Bonds
Date:	25/09/01 (562 review reads)
Rating:

Advantages: occasional big wins, lots of prizes given so greater chance than the lottery of your numbers coming up.

Disadvantages: No guarantees of a win, Minimum £100 investment

I love my Premium Bonds - they have helped me out of a sticky patch, many a time.

With rubbish interest rates and poorly stock markets, there's never been a better reason to invest in Premium Bonds.



So, how does it work?

Well, the bonds are like lottery tickets, each with an individual number assigned by a computer.

They cost just £1 each but have to be bought in batches of 100, up to a maximum holding of 20,000. Forms can be picked up at a Post Office.

Your investment is safe and, like a building society, you can withdraw your money by selling your bonds at any time.

BUT, instead of paying interest on your money, the profit is paid out in winnings.

So you might not win one year, or you might win £50, but you just might win anything up to £1 million!

Either way you will not lose money - unlike the lottery and any other gambling system.

If you want to build up your number of bonds, you can choose to reinvest any winnings automatically, until you choose otherwise, or have the maximum holding.

Personally, I find that rather boring! I'd rather buy more when I have the cash, but take the winnings when they come. It allows me the pleasure of seeing them with my own eyes and perhaps dancing round the room with the cheque a few times before skipping off to the bank.

Whenever I've reached rock bottom and not had the money to pay the bills...

Plop! A cheque for £50 lands on my doormat!

OK, so there are no guarantees and I could just be jammy, but I simply can't find fault with this system of gambling.


When you compare the winnings to the same ammount your bank might accrue in interest each year, it might be the same, but you'd never appreciate it as much.

If you get sent a cheque, out of the blue, however, now that's party time!

Obviously, no-one can be guaranteed a win, but the odds are a lot h
igher than playing the national lottery and the prizes are more widespead - not to mention secret!

Well, I'm still holding out for my big win, but the small ones will keep me going until that happens. I love the fact that it arrives by post, so if you don't have debts that desperately need paying off, it's a gift you have every right to splurge!

It's like having an extra birthday now and again!

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