I’m not keen on the National Lottery but with Lottoaid you’re giving more money to charity – ActionAid in fact – with the possibility that you might win something along the line. It’s a brilliant way of scratching the gambling itch while genuinely doing good for other people less lucky than you.
This isn’t something you can just have a go at every now and then, though. You have to sign up to a monthly direct debit, a minimum of 4.34 a month because one play costs £1 a week (which equates to 4.34 per month). For each play you get a unique number which is entered into the draw every week (players must be UK residents and aged 16 or over).
Every week there are five winning tickets drawn at random by a computer. There are currently only about 8,500 people playing it each week so the odds of you winning something are far greater than they are for the National Lottery.
With Lottoaid there’s a humanitarian aspect to playing too as more of your money is going to charity than the Lottery fund gives. For each play on Lottoaid, 25p goes into the prize fund and 75p goes to ActionAid’s work to help poor people around the world fight their way out of poverty. If you would rather all your money was given to ActionAid you could consider sponsoring a child through their work.
Just 50p a day can transform a child’s life and give a child in poverty the opportunity to receive the education, clean water and health care they urgently need.
The good things about Premium Bonds are that they are tax-free and even if you don’t win anything, you don’t lose the cash you put in. There’s also the chance that you could win the £1 million jackpot, which is always a thrill for some – you can win smaller prizes each month too. The main problem with them is that the average return is less than you would get if you put the same amount in a high-interest savings account. In fact, over time if you’re not earning interest, your money ends up worth less and less because of inflation.
You need to put in a minimum investment of 100, and a maximum of 30,000. Go to the NsandI website to find out more, but if you do decide to ‘invest’, don’t waste too much money on it. Use it as a bit of fun – something to take your mind off other forms of gambling. If you liked this post and you would like to acquire a lot more details regarding fortnite stats kindly pay a visit to our own web page.
You can make more money over the long-term by saving in higher interest savings accounts, so consider this as an option too if you’re looking for an interest return on your cash.
The stock market
Many people see the stock market as a scary, dicey place to put your money, and in the short term they’re not wrong. However, if you put money in and leave it for at least five years – ideally longer – it stops being a more sophisticated form of gambling and becomes genuine investing which, over time, should make serious money for you.
In fact, if you put money regularly into a cheap, index-tracking fund that tracks the FTSE 100 or the FTSE All-share you will absorb the ups and downs of the Stock Market over time and gradually create a decent nest egg for your future. I like index-tracking funds as they are low-priced, simple, and easy to invest in – they also do much better than managed funds.
If you want to make it even less of a gamble then wrap it in an Isa (most of the Index Trackers come pre-wrapped in one anyway – you just have to ask). That way the Government gets less of your tax money to gamble away in its own sweet way!