Money Box

As many as two million of the poorest households have seen the amount they owe their energy suppliers double over the past year. This new analysis of debt figures has been given to Money Box by the consultancy firm Baringa. It says people who've fallen behind on their payments are now £1,100 in the red, an amount that has doubled in a year. Energy UK, which represents suppliers, say they're doing all they can - and we'll hear more about Ofgem's plans to help tackle debt in the industry.Twenty financial advice firms have been told that they must provide the regulator with details of the services they provide customers when they charge them for what is called “ongoing advice”. The Financial Conduct Authority has written to the companies as part of its enforcement of the new Consumer Duty. What will this mean for consumers?And, an annuity is a contract with an insurance provider which converts your savings or pension pot into a guaranteed income for your retirement. As annuity sales rise, we'll discuss what they are and how they work.Presenter: Paul Lewis Reporter: Sarah Rogers Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 24th Feb 2024)

Exploring the complexities of managing finances in co-parenting post-separation, including child support enforcement changes. Insights into handling expenses, mediation's role, and challenges faced by separated parents. Emphasizing children's well-being, flexibility in financial arrangements, and the importance of rational decision-making. Insights into Child Maintenance Service operations and upcoming improvements. Prioritizing children's well-being and fostering positive co-parenting relationships.

When someone dies and leaves a property in their own name, or has significant savings or investments, the executors must apply for probate - a legal document which gives them the right to deal with the dead person's estate and distribute their assets. The Ministry of Justice says probate should be granted within 16 weeks, but some bereaved families have been facing delays of nearly a year. Why is that?A new report shared exclusively with Money Box suggests many of us know very little about the charges being taken out of our pensions. People's Partnership carried out a survey which found that out of a thousand people who'd transferred their pension in the past two years without getting advice beforehand - 72% didn’t know exactly what the fees for their old pensions were, or what they were being charged for their new one. What should you look out for?And for the first time the percentage people in England who're married or in a civil partnership has fallen below 50 percent. If you live with someone and share your money - what do you need to know?Presenter: Paul Lewis Reporters: Dan Whitworth and Jo Krasner Researcher: Sandra Hardial Editor: Jess Quayle(First broadcast 12pm Saturday 17th February 2024)

The discussion dives into the financial realities of retirement, revealing that individuals may need an extra £8,000 annually for a comfortable lifestyle. There’s a debate on raising the state pension age to 71 by 2050. Personal experiences shine, from a 70-something worker to a super saver planning retirement in her 40s. Strategies for early retirement focus on disciplined saving and navigating job market challenges for older workers. The emotional and financial aspects of downsizing are also explored, showcasing the complex relationship with one's home.

Warning of Citizens Advice closures due to council funding shortages, increased retirement costs in the UK, new regulations impacting investment firms' treatment of cash balances. Show explores financial struggles in Mansfield and the crucial role of community services like Citizens Advice. Discusses pension adequacy and the duties of financial advisors towards consumers.

Exploring how savers are earning low interest rates despite the high base rate. Over a trillion pounds sitting in accounts earning 2% or no interest at all. Expert advice on where to start with savings and navigating tax implications on your money.

Unmarried parents have a deadline to claim bereavement benefits. Banks are holding billions with no interest. Government cost of living payments are on the way. Changes to Warm Home Discount scheme mean some may miss out on bill relief.

Learn how to start a business with advice from Dragons' Den star Deborah Meaden. Discover the rise in self-employment post-pandemic, especially among those over 50. Get insights on self-assessment tax returns and funding challenges for entrepreneurs. Explore the journey from idea to business, including self-employment strategies and navigating entrepreneurship

Learn about the battle against investment fraud, upcoming childcare changes, and the disturbing trend of funeral scams targeting bereaved families. Also, get insights on new rules for online selling platforms and tax implications for selling online. Hosted by Paul Lewis, with in-depth reporting by Dan Whitworth and Sarah Rogers.

How are you dealing with energy costs this winter?Money Box Live has heard some people are skipping meals whilst others in full time employment are turning to warm banks and food hubs to cut costs.The energy price cap, which is now what most of us pay, jumped 5% at the start of the year to £1928 for typical use - but what exactly does that mean and are you a typical user?Meanwhile, the charity Citizens Advice has estimated two million people on prepayment meters could have their gas and electricity cut off because they cannot afford to top up. The Department for Energy Security and Net Zero says its spending an average of £3,700 per household to support families with the cost-of-living. And there is some relief on the way as prices are predicted to fall in the spring.Answering all your questions and comments with Felicity Hannah is Peter Smith, Director of Policy at the charity National Energy Action and Deputy Policy Director Daniel Portis from Energy UK which speaks for the industry.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle(This episode was first broadcast oat 3pm Wednesday the 24th of January 2024)