Martin Lewis warns against giving Premium Bonds as gifts for children

Money expert Martin Lewis has cautioned against giving Premium Bonds as gifts for children. He noted that with a typical investment of £1,000, many people may not win anything, making it a less appealing option. Lewis explained that Premium Bonds are more beneficial for those investing larger sums, like £10,000 or more. He emphasized that most children do not meet this criterion, which diminishes the likelihood of winning. While Premium Bonds are government-backed and safe, Lewis clarified that all bonds have the same chance of winning. The perception that newer bonds win more often is due to the larger amounts being invested today compared to the past.