Monday, 23 November 2015

(I don't have much money to invest) investment portfolio part 2 Premium bonds.

Following on in my I don't have much money to invest theme, I decided to add a few pounds into premium bonds.

Not a great fan of gambling, but premium bonds don't have any risk so it sits well with me.  Saying that,  the money invested in Premium bonds don't accrue any interest so with inflation you are in fact loosing a little bit of the value by holding the money in Premium bonds.

There is a big but though, you could win in the prize draw.  The draw is totally random so you could win with a £100 investment, you never know!

I have £100 invested in Premium bonds at the moment.  Once I get my backside in gear I am going to set up a standing order for the minimum monthly investment of £50 per month.

My motivation for using Premium bonds is that I am saving towards some building work on our house and would like to keep the money separate. I also know that a regular cash saver is making so very little in interest that why not stick the money in Premium bonds, with a decent win that extension could be on faster than planned!

So, as at today 23rd November 2015 we as a family have an investment of £200 in total (£100 was invested for the little one when he was born just over 7 years ago and the additional £100 I have recently purchased) To date we have zero wins!

Whilst were discussing investments I thought I would give an update on mu (I don't have much money to invest) investment portfolio part 1 Peer to Peer (AKA funding circle!)

The scores on the door as of today are

I have investments in 24 loans totalling £438.40
I am bidding on 1 loans totalling £20
I have £0.96 available funds which I am building up to £20 for my next investment.
I have paid £2.20 in fees

Recently I have added a few additional pounds and have had another £50 referral bonus which I have reinvested.

I have 1 loan in default £14.98 which I am really sad about, I will keep you updated as to whether I receive any of this amount back but mentally I am already writing it off.  These things happen.

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