Savings (1 Viewer)

[gril]

you know prize bonds? whats the story there?

 

[nlgbbbblth]

you know prize bonds? whats the story there?

I've seen people win modest sums with prize bonds.

 

[La La]

i should have done the SSIA when i had the chance. kicking myself i didnt.

 

[Lord Damian]

question from a foreigner - is this SSIA that term savings plan that pays 20% interest when it matures that a friend of mine over there was telling me about a while back? is there no danger it could tank the irish economy (or at least damage it a bit) when all that interest has to be paid out?

 

[broken arm]

question from a foreigner - is this SSIA that term savings plan that pays 20% interest when it matures that a friend of mine over there was telling me about a while back? is there no danger it could tank the irish economy (or at least damage it a bit) when all that interest has to be paid out?

http://oasis.gov.ie/personal_finance/government_savings_scheme.html


oh and Tadgh is a mans name i think. it's pronounced taighegheghe.

 

[nlgbbbblth]

question from a foreigner - is this SSIA that term savings plan that pays 20% interest when it matures that a friend of mine over there was telling me about a while back? is there no danger it could tank the irish economy (or at least damage it a bit) when all that interest has to be paid out?

25%
Government gives €1 for every €4 you save.
Plus you get interest from the bank - 4% or thereabouts.

 

[krystal]

my da has about 50 billion and wins something almost every month - usually 50 - 100 sort of thing but the more you have the more likely you are to win. I have 4, I await a grand prize.

I've seen people win modest sums with prize bonds.

 

[gril]

my da has about 50 billion and wins something almost every month - usually 50 - 100 sort of thing but the more you have the more likely you are to win. I have 4, I await a grand prize.

i'm not good with maths and statistics, but why doesn't everyone put all their savings into prize bonds? if you had a few grand in prize bonds then would you be bond to win stuff all the time, way more than you would ever make in interest? yeah? and then you can cash them back in at face value if you need the money again, they don't cost anything, so whats the catch?

how many do you actually need to be likely to win regularly?

 

[krystal]

there's no catch. You just buy them (you have to buy at least 4) and then they're entered into a draw every month. Obviously the more you have the more chance you have of winning a prize. Savings accounts are never very high yield interest rate wise anyway so if you had a good few bonds and had a few wins then it would probably work out as good if not better than interest on savings. And you still have the money if you ever want to cash them in too. I'm not sure how many you need to start winning, but I think it's definitely more than 4 anyway, going by my lack of wins.

I really should buy more.

 

[pete]

but isn't your money losing value at the rate of inflation while its tied up in prize bonds? or do they pay interest?

pretty sure i could have phrased that a bit better.

 

[c0De_n1NjA]

does anyone have an "ethical" bank account?

i give my money to african orphans with AIDS, then i write to them whenever i need a few bob and they send it over.

 

[gril]

but isn't your money losing value at the rate of inflation while its tied up in prize bonds? or do they pay interest?

pretty sure i could have phrased that a bit better.

oh ok.. they don't pay interest, so yeah, i guess that makes sense and thats what the catch is.

 

[Wilbert]

Here's my one and only savings tip.

My brother had this huge empty Smirnoff Vodka bottle (3 Litre). Every night when I get home, I throw whatever change I have into it. If I need change for a bus or parking the next day, I can nick some back, but in general all my change every night goes into it.

I had been saving in it for about three months and needed some money sharpish. I took the coins down to the Spar where they have one of those coin-counting machines and there was almost €400 in it. The next time I let it go for about 8 months and there was almost a grand in it.

Thats an average of around €4 in change a day.

Stick that up your bollocks*, Eddie Hobbs!

*copyright Roy Keane

 

[pete]

Here's my one and only savings tip.

My brother had this huge empty Smirnoff Vodka bottle (3 Litre). Every night when I get home, I throw whatever change I have into it. If I need change for a bus or parking the next day, I can nick some back, but in general all my change every night goes into it.

I had been saving in it for about three months and needed some money sharpish. I took the coins down to the Spar where they have one of those coin-counting machines and there was almost €400 in it. The next time I let it go for about 8 months and there was almost a grand in it.

Thats an average of around €4 in change a day.

Stick that up your bollocks*, Eddie Hobbs!

*copyright Roy Keane

my hero!

i use an old 4 star pizza cookie tin. there's about 95 quid in it now.

i know this because my wife got me a coin sorting machine for the christmas.

 

[Wilbert]

my hero!

i use an old 4 star pizza cookie tin. there's about 95 quid in it now.

i know this because my wife got me a coin sorting machine for the christmas.

A coin-sorting machine, eh?

Where would a guy, an ordinary Joe like myself, get one of these?

 

[pete]

A coin-sorting machine, eh?

Where would a guy, an ordinary Joe like myself, get one of these?

power city!

 

[Wilbert]

power city!

Excellent
*rubs hands together*
Eeeeeexxxxccceellleenttt.

 

[pete]

looks like this:

be warned: the amounts of coins that go into each of the tubes bear no relation to the amounts that go into the bank coin bags, which is a bit of a pain as it requires some mental arithmetic (how many tubes of 80x2c coins go into a €2 bag?)

 

[snakybus]

Excellent
*rubs hands together*
Eeeeeexxxxccceellleenttt.

Yes, thos money sorting machines, they cost a few quid, but you could save up your change for a year and you could afford it, plus have enough left over to purchase a 3 litre bottle of Smirnoff. Money well spent.