Tuesday, 17 November 2009

Why I'm ditching premium bonds


After reading the Moneysavingexpert website, it showed clearly that premium bonds are a terrible investment as you have far more chance of winning the UK national lottery, than getting a big premium bonds payout. Your chance of winning the UK National Lottery jackpot per £1 spent, is one in 14 million, but for Premium Bonds the chance per £1, is one in 40 billion

And thats why I'm ditching premium bonds. My money would be better invested in the UK National Lottery!

This fact stunned me so much that I've cashed in all of my premium bonds and put them into a high interest earning bank account, as reccommended by the article. Overall, the regular interest payments each year will add up to more than I would get from premium bonds in a year. It proves that making money does have a set of rules which need to be put into practice, and if you don't folllow the rules you will lose money.

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Straight from the horses mouth