What would YOU do if you won a tidy windfall from the Premium Bonds?

National Savings and Investments has launched Ernie 5.0 – its fifth generation machine that draws the Premium Bond numbers.

It now takes just 12 minutes for numbers to be generated by the Electronic Random Number Indicator Equipment compared to 10 days back in the early 1970s.

This week, editor Simon Lambert, assistant editor Lee Boyce and host Georgie Frost answer the question – what would you do if you gained a windfall, big or small, either from the Premium Bonds or by other means?

What does it mean to win big and what are the first things you need to think about if you’re lucky enough to come into some cash?

And when it comes to gifting some of your windfall to children, should it go towards their student loan, help with a house deposit, put in a pension or help them get involved in investing?

We also discuss a 57-year-old reader who was the latest star in our regular Money Pit Stop series, who wants to make sure his own investment portfolio can withstand downturns and provide him with a good income at retirement.

Additionally, after we launched our This is Money Diaries this week, we reveal the concerns our 28-year-old first Guinea Pig has – and why we want the younger generation to get involved.