You should remember that past performance is not necessarily a guide to the future. Market and currency movements may cause the value of units, and the value derived from them, to fall as well as rise and you may get back less than you invested when you decide to sell your units. The tax treatment of investments and pensions is not guaranteed and may change in the future.
Your home is at risk if you do not keep up the payments on a mortgage
As the chart in the above link shows, holding onto cash in banks is possibly the worst thing you could do with your money, if it is to grow in value.
Before investing money ask yourself; -
1. What are you trying to achieve?
2. Over what period?
3. What risk are you prepared to take to achieve your objective?
Sure you can always buy Premium bonds but the chances of winning a major prize, £500 or more, are literally infinitesimal around 44,000,000,000 to 1.
If all the bonds in existence were blades of grass in a field, that field would be 64 miles long and 64 miles wide. Ernie has to pick your blade
Can you afford to risk your future on being that lucky???
THE ADVICE CENTRE - making sense of a complicated world
If you think that Cash would be a good home for all your capital over the longer term, this chart produced by Barclays Capital and issued by Scottish Widows may make you re-think your strategy. (click UK to view)