The Martin Lewis Podcast Question Time: Best kids’ savings or investments? Pension at 50? Which mortgage to overpay? Snakes, or an angry gorilla?
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Feb 2, 2026 Practical money puzzles get tackled, from why interest can appear after paying a card in full to which mortgage to overpay. Strategies for children’s savings, JISAs, and junior SIPPs are explored. Tax quirks around dependent pensions and pension moves at 50 are discussed. There's also playful banter about choosing between 1,000 snakes or an angry gorilla.
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Avoid Interest By Paying In Full
- If you clear your card spending in full each month you avoid interest, but cash withdrawals still incur interest immediately.
- Always pay the full statement balance and avoid cash advances to stop unexpected charges.
Use JISAs And Junior SIPPs
- Use a Junior ISA and consider investing rather than keeping long-term child savings in cash.
- Put a portion into a junior SIPP to capture the 20% tax top-up and long-term compound growth.
Premium Bonds Often Lose To Modest Returns
- Premium Bonds rarely beat cash or stocks for small sums because median return is effectively zero.
- Paying tax on a modest cash return can still outperform zero return from premium bonds.