“Weekend Essay: Why I won’t be saying goodbye to ERNIE anytime soon”

I have been a big fan of Premium Bonds for many years now, and still regularly recommend them as an alternative to a bank or building society cash reserve. They’re safe (as the government and state), tax-free and accessible within a couple of days. OK, you win prizes, randomly allocated by Ernie (kids etc.) and if you only have a small amount, might not get anything. But if you’re able to have the full £50k or anything close, you will, in my experience, do as well with £25 here, £150 there, as you will in the bank, and you never know. Someone wins a £1m every month, and the £1 Bond bought by my grandmother when I was born, won £25  58 years later. Which turned out to be at least 3x what I could have earned elsewhere.

Read more here