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stevmk2
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24-05-2015, 03:46 PM
31

Re: I aint got much BUT?

Originally Posted by Davenorave ->
To the point and as you put it obvious. Thanks. But my point is. Is an ISA a gamble or is it a safe method of saving???
It's safe enough Dave as all banks are required to ensure that they can cover the funds of all depositors.

Problem is the returns in terms of interest on your money are not great these days; I get 2.07% on my Regular Savings ISA and I've had to start that from scratch as you are not permitted to transfer funds in from another matufred ISA for example.

As per usual it's the people that already have the dosh to spare and can afford a risk it that do better in terms of savings Dave.

After all, 2% of of £2000 is nothing compared to 5% of £200,000 is it - £40 versus £10,000?!!!

I remember having an ISA with an interest rate that actually covered my Road Tax every year if I put away enough - happy days! stevmk2
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24-05-2015, 06:07 PM
32

Re: I aint got much BUT?

I received a cheque for 47p the other day...my dividend on the Lloyds shares.

What a joke! The postage alone would have cost more.
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24-05-2015, 06:12 PM
33

Re: I aint got much BUT?

Originally Posted by stevmk2 ->
It's safe enough Dave as all banks are required to ensure that they can cover the funds of all depositors.

Problem is the returns in terms of interest on your money are not great these days; I get 2.07% on my Regular Savings ISA and I've had to start that from scratch as you are not permitted to transfer funds in from another matufred ISA for example.

As per usual it's the people that already have the dosh to spare and can afford a risk it that do better in terms of savings Dave.

After all, 2% of of £2000 is nothing compared to 5% of £200,000 is it - £40 versus £10,000?!!!

I remember having an ISA with an interest rate that actually covered my Road Tax every year if I put away enough - happy days! stevmk2
I can remember years ago the interest on our Money paid my husbands Yearly Tax demand, long gone have those days.
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25-05-2015, 03:45 PM
34

Re: I aint got much BUT?

Jazzi I have just received my Lloyds dividend too, not a lot, but a bit more than yours. It was paid straight into my bank account. I wondered what this small amount was. Makes me cross as my shares were actually the original TSB shares and worth a reasonable amount. Once they merged with Lloyds and then Gordon Brown and Victor Blank did the dirty deal, the shares became almost worthless, as they still are. Lloyds used to always make a profit as did the original TSB. The shares of the new TSB are worth loads more, although how they will do when the take over by the Spanish bank goes ahead goodness knows. I don't have any of the new TSB shares.
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01-06-2015, 09:04 AM
35

Re: I aint got much BUT?

How about Premium Bonds ?
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01-06-2015, 09:29 PM
36

Re: I aint got much BUT?

Originally Posted by Rachel ->
How about Premium Bonds ?
Premium bonds are simply a way to give YOUR money to SOMEONE ELSE allowing THEM to use your money to invest in various things and to keep the profits for themselves. For that privilege they offer you nothing except the outside (and rather hopeless) chance of winning a lottery. It's really like handing you money to a guy in the street and saying, here you go, see if you can make some money with my money and if you do, just give me my original money back and you keep all the profits . . . !

I should coco !

Utter madness.
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Losos
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01-06-2015, 10:54 PM
37

Re: I aint got much BUT?

Originally Posted by Realist ->
For that privilege they offer you nothing except the outside (and rather hopeless) chance of winning a lottery.
Partly correct, but unlike the National lottery where your money goes down the tube the instant they print your ticket, in the Premium Bond example you can your original stake back.

Yes over time inflation will have degraded the value of your original stake but it's surely better than giving it to the National Lottery
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05-07-2015, 01:03 PM
38

Re: I aint got much BUT?

I like premium bonds. Over the last 12 months I have made 12% interest on my bonds
I have had better in the past as I have had them quite a few years.
I suppose I should have kept a record of the wins that I have had, so that if and when I cash them in I could have a total of the interest.
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05-07-2015, 10:34 PM
39

Re: I aint got much BUT?

Originally Posted by Emjay ->
I like premium bonds. Over the last 12 months I have made 12% interest on my bonds
I have had better in the past as I have had them quite a few years.
I suppose I should have kept a record of the wins that I have had, so that if and when I cash them in I could have a total of the interest.
Some people are blessed with good fortune, and some are not. With 12% you clearly fall in the former category in my case the interest has a lot of zeros in front of it
 
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