I’m not keen on the National Lottery but with a lottoaid you’re giving more money to charity – ActionAid in fact – with that you can win something along the line. It’s a brilliant way of scratching the gambling while doing it genuinely for good.
This is something you can just do at a go at every now and then, though. You have a monthly direct debit, a minimum of 4.34 a month because of one play costs £ 1 a week (which equates to 4.34 per month). For each play you get a unique number which is entered every week (players must be UK residents and aged 16 or over) agen poker online.
Each week there are five winning tickets drawn at random by a computer. There are only about 8,500 people playing it every week so the odds of you winning something are far greater than the National Lottery.
With Lottoaid there’s a lottery fund that goes to charity rather than playing to a humanitarian aspect. For each play Lottoaid, 25p goes into the prize fund and 75p goes to ActionAid’s work to help poor people fight their way out of the world. If you would rather have all your money 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 the opportunity to receive the education, clean water and health care they need urgently.
Premium Bonds are about the good stuff and they are tax-free and even if you don’t have anything to do with the cash you put in. The £ 1 million jackpot, which is always a thrill for some – you can win small prizes every month too. The main problem with them is that the average return is less than you would get if you put in a high-interest savings account. In fact, if you’re not earning interest over time, the inflation of your money ends up worth less and less.
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 decide to do ‘invest’, don’t waste too much money on it. Use it as a bit of fun – something to take your mind off of other forms of gambling.
You can make more money by investing in long-term savings accounts, so consider this option 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 a genuine investment in overtime.
In fact, if you put money 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. . Like index-tracking funds, they are low-priced, simple, and easy to invest in.
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 anyway – you just have to ask). That way the government gets less of your tax money than its own sweet way!
Jasmine Birtles is the founder of the money-making and money-saving website http://www.moneymagpie.com
Jasmine earns her living as a finance journalist, expert, TV presenter and author of 38 books including the latest, “Beat the Banks!”
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