�1000 decision

[dimligump]

I've been very fortunate to have been left �1000 - given the poor interest rates at the moment, any ideas on what to do with it?

I'm veering towards premium bonds.

[Naomicorlett]

Yes I agree. Put it in Premium Bonds with auto re-investment ( that way any prizes buy more bonds and are entered in draw for that month). Good luck.

[dimligump]

Thanks - I'm going to do just that

[Rollo]

The odds against you winning any prize in a particular month are 3,600 to 1.

Best of luck.

[Ethel]

Yes, you're going to lose very money (the interest) if you don't win anything.

Now is a great time to 'have a pop at a premium bond'

[Rollo]

My mistake.

The odds against winning are 36 to 1 if you have �1,000 "invested".

[CheekyChops]

Assuming you have no debts to pay off, I would spend the lot - such a small sum is not worth saving with rates as they are!

[Whoever]

The only other option would be to stick it in the highest interest paying fixed term savings bond you can find, or stick it in an ISA if you're a taxpayer. At least you would get a tiny amount of interest although such a relatively small sum won't earn much. Probably won't get your any ERNIE winners either !

[PeasAndRice]

shopping spree

[Barquentine]

I've been buying premium bonds too. I'm also considering artworks - get a limited edition small print by someone not too well-known but on their way up, or I'm wondering about those 100g (3.22oz) gold bars. Gold prices seem to have gone slowly down over the last year but may be starting to move slowly up. How about a wine-auction? Maybe premium bonds, then use some of the winnings for something more interesting.

[angiebaby57]

Premium bonds can be great we had a �150 return on �1000 worth in less than a year...for us that was a cracking rate of interest! There is a risk that you may not win but your money is safe which counts for a lot and its great to get the odd cheque from NS&I landing on your doorstep! xx

[dimligump]

I've done it! Bought the premium bonds onlin and they came within a couple of days. Fingers crossed...