Saving and investing

Discussion in 'The Lounge - Off Topic' started by zxspectrum, Mar 1, 2020.

  1. zxspectrum

    zxspectrum Terabyte Poster Forum Leader Gold Member

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    Mar 1, 2020 #1
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    So, its about time I started to think about buying my place, its a 2 bed flat and its council, I have been here for 10 years so I have the right to buy option on it. However I need to save for a deposit but the interest these days is laughable

    I have been looking at premium bonds, does anyone do these, I know you dont get interest but you do get entered into a proxe draw and all that and you can draw out whenever you like?

    Anyone got any tips?

    Zx
     
    Certifications: BSc computing and information systems
    WIP: 70-680
  2. JK2447
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    JK2447 Petabyte Poster Administrator Premium Member

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    Hiya buddy, I think it's a great idea to look to buy your place. Hopefully you'll get it with a good discount. Also very wise to save for your deposit. Interest rates are terribly but on the flip side, mortgage rates are mega low now too, so hopefully you'll be able to fix in a very cheap deal.

    It's really hard to know where's best to save at the moment. Something like premium bonds is safe and secure being government backed. I use these myself. I've not won anything for a while but you've got to be in it to win it they say. Do you get anything that you could use at work? Share save or profit share or something?
     
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  3. nisseki

    nisseki Byte Poster

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    Mar 1, 2020 #3
    Have you looked at a lifetime ISA? HMRC adds 25% to your savings max £4000 per year.
     
  4. zxspectrum

    zxspectrum Terabyte Poster Forum Leader Gold Member

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    Yeah, great suggestion, im over 40 so I dont get access to that
     
    Certifications: BSc computing and information systems
    WIP: 70-680
  5. chartered

    chartered Bit Poster

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    Mar 13, 2020 #5
    Exactly, investment to things like this would make you feel better and see what kind of life you will have in the future.
     
  6. MSJ Jeni

    MSJ Jeni Bit Poster

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    Mar 13, 2020 #6
    You got the best suggestion, this puts more value to those that are really interested. Thanks!
     
  7. aushus

    aushus Kilobyte Poster

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    I invested in cryptos and lost big
     
  8. JK2447
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    JK2447 Petabyte Poster Administrator Premium Member

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    Sorry to hear that mate :(
     
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