Some money has come my way and I have become interested in premium bonds. I'm not incredibly knowledgeable in these particular bonds, so pro's and cons along with any opinions would be good.
I hold £5 worth of premium bonds. My uncle bought them for me when I was just a baby. I've won once and won £50. My sister won £50 three times as well
They're not like stock market bonds though, they're just like a lottery. A machine pulls a random number out its ass and and you can win various different prize levels. My parents bought quite a large sum of them many years ago and so did a couple of their friends and their friends won quite a bit once. Don't really know the details.
I'm much rather have had the money invested somewhere that earned interest all these years though.
>>1024944
They're not worth it senpai
>http://www.google.co.uk/url?sa=t&source=web&cd=2&ved=0ahUKEwisscrOzpDKAhVC8Q4KHc0zAZEQFggeMAE&url=http%3A%2F%2Fwww.theweek.co.uk%2F63282%2Fpremium-bond-changes-why-theyre-still-a-bad-investment&usg=AFQjCNFWZujGDPZSrMQwdAW9WWmgyY0iGA&sig2=wnlB0aWCqpbcWcNs4YAABQ
Just get a FTSE tracker or something.
>>1024944
"Premium" just means they sell above par. That doesn't mean you're getting a good deal.
