Money thoughts …

KIPAX said:
been there done that 48 yrs ago and it still scares me to think of how close I came to killing myself on it haha


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Is that a GT 550? I had one in the early 80s and loved it.

Went back to biking 17 years ago with a Trident 900, but found I no longer have the ability to ride like I want to, and not interested to ride within the ability I do have, so gave it up.
 
ancient_mariner said:
Is that a GT 550? I had one in the early 80s and loved it.

Went back to biking 17 years ago with a Trident 900, but found I no longer have the ability to ride like I want to, and not interested to ride within the ability I do have, so gave it up.
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Sorry @ancient_mariner only just seen this...GT250 There was half a dozen of us ..two with GT250 ..There was yamaha rd? 250 and honda b? something 250... reportadly the yamaha the fastest and the honda prone to over heat and set on fire haha

The only difference between a suzuki 250 and 380 was the oil cover ..you could ride a 250 on a provisional licence.. I know some people had the 380 with a 250 oil cover so the more powerful motorbike but police didnt know :)
 
So month 3 and my second £25 win ..... I think that puts me in the pretty lucky catagory... somehting I have never been accused of...ever ! :)
 
KIPAX said:
Sorry @ancient_mariner only just seen this...GT250 There was half a dozen of us ..two with GT250 ..There was yamaha rd? 250 and honda b? something 250... reportadly the yamaha the fastest and the honda prone to over heat and set on fire haha

The only difference between a suzuki 250 and 380 was the oil cover ..you could ride a 250 on a provisional licence.. I know some people had the 380 with a 250 oil cover so the more powerful motorbike but police didnt know :)
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The Honda was probably a CB250, one of the then coolest sounding bikes around. I never had a Ram Air but can still see the clouds of 2 stroke oil that the local one pumped out. RD250's seemed to be the most popular.
I had a Puch MV 50 in dull green. Not really a contender..
Story of my life, and sorry for going so far off topic!
 
beyond the blue said:
I've just won £100 today, over the last 12months APR 1.275%. The prize fund was increased last month so you will do even better in future.
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Nice one.... I dont k now how to work out the APR :(
 
I had some money in premium bonds for many years. Won nothing, zero, cashed it in and bought some beer! Far more satisfying.

Worth noting some Fixed cash ISAs are paying more than 4% (and likely to increase again if bank rates increase)... My savings accounts linked to my current account are starting to pay meaningful interest now. So when my current cash ISA matures at the end of the month I think I will reinvest to get 4-5%.

I have a lot in unit/investment trusts - they are cheap at the moment - good job I don't need the money at the moment as some trusts have collapsed in the last year (thank you Putin/Xi), but some of my shares are paying really good returns so if I can get a reasonable dividend income when I retire I will be fairly happy.
 
welshwizard645 said:
I had some money in premium bonds for many years. Won nothing, zero, cashed it in and bought some beer! Far more satisfying.

Worth noting some Fixed cash ISAs are paying more than 4% (and likely to increase again if bank rates increase)... My savings accounts linked to my current account are starting to pay meaningful interest now. So when my current cash ISA matures at the end of the month I think I will reinvest to get 4-5%.

I have a lot in unit/investment trusts - they are cheap at the moment - good job I don't need the money at the moment as some trusts have collapsed in the last year (thank you Putin/Xi), but some of my shares are paying really good returns so if I can get a reasonable dividend income when I retire I will be fairly happy.
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When I first stopped working my money kept going up but then interest rates fell through the floor and stayed there and my money went down every month. Recently it's going up again and for the first time in years my income seems to be exceeding my outgoings. I do feel for those with debts and repayments but I do think people living off savings have been overlooked for a long time.
 
I had the max in bonds and ok, most months prizes came my way but decided to quite the risk, put the lot in a bond with an income of £350 a month*, plus the investment has the chance to grow when the worlds markets settle again, wife likes a gamble so she’s held on to PB’s, off to check this months draw.

* I have other similar bonds paying out different amounts, amounts showing as worth vary with markets, down at the mo but May rise again.
 
I am in one of them moods now and have bene looking around... I like the look of One year fixed rate online bond at 4% .. Natuionwide who i am with anyway offer this and looks a decent return... The only way I can find higher than 4% is 3 and 5 yrs fixed investment which at my age I dont fancy... 1 yr no witdrawels sounds OK

Anyone find better ?
 
KIPAX said:
I am in one of them moods now and have bene looking around... I like the look of One year fixed rate online bond at 4% .. Natuionwide who i am with anyway offer this and looks a decent return... The only way I can find higher than 4% is 3 and 5 yrs fixed investment which at my age I dont fancy... 1 yr no witdrawels sounds OK

Anyone find better ?
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Interesting.

I have looked at the info and surmise that the interest is taxable/taxed.......but could not see anything about tax in the info :thinking:
 
Box Brownie said:
Interesting.

I have looked at the info and surmise that the interest is taxable/taxed.......but could not see anything about tax in the info :thinking:
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Most say taxable but they dont tax it.. up to you to declare

so yeagh take into cosideration 20% less :(
 
KIPAX said:
Most say taxable but they dont tax it.. up to you to declare

so yeagh take into cosideration 20% less :(
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Good point but as interest on savings has been diddly squat for ages even with tax paid with this product the amount of interest is very attractive if it suits one's personal circumstances or not as the case may be?
 
I am thinking give the Bonds a full yr and see what return that brings... 2.2% supposedly but could be more and that's tax free (do you just not need to declare it?) so actually worth a little bit more than 2.2% when compared to 4% taxable the gap isn't as wide
 
KIPAX said:
I am thinking give the Bonds a full yr and see what return that brings... 2.2% supposedly but could be more and that's tax free (do you just not need to declare it?) so actually worth a little bit more than 2.2% when compared to 4% taxable the gap isn't as wide
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On a side note....

I had a payout from a dormant policy that had some untaxed element to it and it does not 'sit well with me' to not declare it.
 
My OH mentioned that there is a tax free interest level of £5000....

It is mentioned here https://www.gov.uk/apply-tax-free-interest-on-savings

But like all things HMRC I think you have to declare the interest to show that you are eligible for it to be non taxable. In other words whether you end up paying any tax the interest will be down to an individual's circumstances.
 
Yes. For most people you can "earn" £1000 from interest tax free. Until recently that meant you had to have c100k in the back before you paid tax on the interest. Now, not so much.

People who earn a lot get a lower allowance and people who earn less get a higher one. Mostly it means you don't need to bother adding up your interest when completing a self assessment but with higher interest rates more people will be paying tax on interest.
 
Month 4 of premium bonds and today its another £25 win... thats 3 our of 4 wins all £25 each
 
My old dad always saved for a rainy day. He never drank to excess, smoked or gambled, never bought a new car and was always careful with money. Late in life, he had to go into a care home, due to dementia. Every penny of his savings, over the maximum limit, were spent on his care (and it was excellent care too). The upsetting part was that the "gentleman" in the next room to him had spent everything he had earned on all the previously mentioned and his care was totally funded by the state! (Our taxes!). Moral of the story - enjoy it whilst you can because you never know what is around the corner!
 
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£100 here, not too shabby.
 
Next couple of years I will be doing a lot of Bed & ISA transfers. Sell shares and rebuy them in an ISA, especially those earning a good dividend yield. Don't want Hunt or the next Labour Chancellor getting their hands on my dividends, thanks to the reduction in the dividend tax allowance. - I was borderline before but in 2 years time I will be over the threshold by a considerable margin :headbang:.
 
Pixbarmy said:
My old dad always saved for a rainy day. He never drank to excess, smoked or gambled, never bought a new car and was always careful with money. Late in life, he had to go into a care home, due to dementia. Every penny of his savings, over the maximum limit, were spent on his care (and it was excellent care too). The upsetting part was that the "gentleman" in the next room to him had spent everything he had earned on all the previously mentioned and his care was totally funded by the state! (Our taxes!). Moral of the story - enjoy it whilst you can because you never know what is around the corner!
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Been having a money conversation with the MiL today - she needs more carer time and has plenty of savings but is reluctant to touch them. We pointed out that it's HER money not her beneficiaries' and that it's not as if she's wasting it. Hopefully it penetrated the slight codeine fog.
 
Pixbarmy said:
My old dad always saved for a rainy day. He never drank to excess, smoked or gambled, never bought a new car and was always careful with money. Late in life, he had to go into a care home, due to dementia. Every penny of his savings, over the maximum limit, were spent on his care (and it was excellent care too). The upsetting part was that the "gentleman" in the next room to him had spent everything he had earned on all the previously mentioned and his care was totally funded by the state! (Our taxes!). Moral of the story - enjoy it whilst you can because you never know what is around the corner!
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Id rather not leave my old age to a hope and prayer that the state will adequately pay for it. Im not living like a pauper but equally have plans in place to ensure I will be comfortable
 
I am earning more than the 0.50% my bank would give me... but far less than a fixed rate online bond at 4% for one year.. So am givng it until april next yr then decide wether to keep premium bonds or move to a guaranteed 4% (4% of investment -20% of the 4% to taxman) ... So come on Ernie get my numbers out :)
 
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Just tallied up my premium bonds winnings for the year and its been just inder 1.5%. Much better than the savings account was offering back in January.
On the other hand my ISA is now paying 2.5% so that's pretty decent and tax free too.
Happy enough with the PB investment as well and it does offer the slim chance of a big win.
 
KIPAX said:
I am earning more than the 0.50% my bank would give me... but far less than a fixed rate online bond at 4% for one year.. So am givng it until april next yr then decide wether to keep premium bonds or move to a guaranteed 4% (4% of investment -20% of the 4% to taxman) ... So come on Ernie get my numbers out :)
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My savings account is paying 2.5%. on a fixed rate mortgage so I'm actually making money off the banks right now :)

But I can do better. Time for a morning looking for the best rates
 
JonathanRyan said:
My savings account is paying 2.5%. on a fixed rate mortgage so I'm actually making money off the banks right now :)

But I can do better. Time for a morning looking for the best rates
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From what I have found... But certainly no expert :) I ahve only looked at no risk options.. so no stocks etc

Locking your money away seems to yield the highest return.
The longer you lock it away the more you get .You can get 5% and maybe slightly more but you have to lock your money away for 3+ yrs. I ahvent found anything much over 5% ..

Thus 4% for one year is the best I have found with nationwide https://www.nationwide.co.uk/savings/fixed-rate-online-bond/

If anyone can find better at no risk I would welcome a link ? :)
 
KIPAX said:
From what I have found... But certainly no expert :) I ahve only looked at no risk options.. so no stocks etc

Locking your money away seems to yield the highest return.
The longer you lock it away the more you get .You can get 5% and maybe slightly more but you have to lock your money away for 3+ yrs. I ahvent found anything much over 5% ..

Thus 4% for one year is the best I have found with nationwide https://www.nationwide.co.uk/savings/fixed-rate-online-bond/

If anyone can find better at no risk I would welcome a link ? :)
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I find this page very useful whenever I'm looking


I've just swapped to a 3.6% 1 year ISA with Paragon. Depending on your tax position it _may_ beat your 4%.
 
£50 on the premium bonds today.. Its going up .. :)
 
KIPAX said:
From what I have found... But certainly no expert :) I ahve only looked at no risk options.. so no stocks etc

Locking your money away seems to yield the highest return.
The longer you lock it away the more you get .You can get 5% and maybe slightly more but you have to lock your money away for 3+ yrs. I ahvent found anything much over 5% ..

Thus 4% for one year is the best I have found with nationwide https://www.nationwide.co.uk/savings/fixed-rate-online-bond/

If anyone can find better at no risk I would welcome a link ? :)
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I went for this too, a husband and wife can put £25k in each and depending on your tax situation not pay any tax, as previously mentioned, we all have £1000 allowance on interest per tax year each. Self employed have to declare, employed is taken off at source.
 
admirable said:
we all have £1000 allowance on interest per tax year each
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Most :) It could actually be quite a lot more or as little as £0. It's one of the more reasonable tax rules.

www.raisin.co.uk

Tax on savings account

How are savings accounts taxed? ✅ Is the interest taxable? ✅ What is the personal savings allowance? ✅ Learn more at Raisin UK
www.raisin.co.uk www.raisin.co.uk
 
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