This is Money Podcast

This week, savings have been in the spotlight with National Savings and Investments cutting rates on a number of its offerings, including popular Premium Bonds.Both Marcus Bank and Saga also cut easy-access rates.On this week's podcast, Simon Lambert, Lee Boyce and Georgie Frost look at what's behind the cuts and question: should savers head elsewhere, and what is the point of tucking money away for little interest?Nationwide Building Society has launched a Start to Save easy-access account with a £100 lottery – is it any good and can it help get people into the savings habit?We cover a curious case of one reader who found their Spotify infiltrated by someone with appalling music taste.Simon reveals how he was stung by the loyalty penalty when a renewal letter came through from his insurer Halifax.It hiked his premium, but after weeks of back-and-forth, couldn't give him a concrete reason as to why.And Lee looks at whether a Fitbit is worth the money and how a fitness tracker helped his mum, with an underlying health condition, become healthier. Hosted on Acast. See acast.com/privacy for more information.

From hosting their podcast Nobody Panic, to being in comedy trio Massive Dad, writing scripts and articles, and putting on Edinburgh shows, Stevie and Tessa have a lot of things to juggle.The pair tell Andi Peters and Simon Lambert their tales of living on a shoestring to get ahead in the London publishing world, including sharing a one-bedroom flat and sleeping under the kitchen table.The duo also explain how to set up an Edinburgh Fringe show and why it is similar to launching a small business, from fronting the cost to book a venue, to selling tickets and hoping you can break even or maybe even make a little money.And Tessa tells of the difficulties of trying to get a mortgage, even with a contract to write a pilot season of a new show for US television. In the Making the Money Work series, in partnership with the Financial Services Compensation Scheme, we talk earnings, budgeting and savings with those whose lives and finances roam far from the norm.The five podcasts are hosted by Andi Peters, alongside This is Money’s Simon Lambert, and every fortnight you can listen to a new interview with different special guests talking about their financial lives. Hosted on Acast. See acast.com/privacy for more information.

This week started with rumours of a pension tax relief cut and mansion tax, saw the Chancellor fall on his sword, and ended with people none the wiser about whether a Budget tax raid is more or less likely after all that.Sajid Javid exited the stage to be replaced by one of his own men, Rishi Sunak, after an attempt by Boris Johnson and Dominic Cummings to take back control at the Treasury was rebuffed by the short-lived Chancellor.The question now is just whose idea the pension tax relief and mansion tax plans were and whether they are now on the cards or not (or was the whole shebang just a bit of Machiavellian manoeuvring)?What we do know is that a Budget is due in less than a month, so other than the national purse strings being loosened for the ‘levelling-up’ agenda what are we likely to see?On this week’s podcast, Simon Lambert, Tanya Jefferies and Georgie Frost delve into the Chancellor saga, what we know about the new man, and what could happen in the Budget that will affect your finances, from a stamp duty cut, to IR35 easing and a tax raid on the wealthier.Also on the show, the team discuss an inheritance puzzler where a reader asked if it’s possible to challenge his father’s will that would leave him £25,000, while his brother would get £5million.Another reader problem about paying for care is answered too, where a reader fears losing the house they live in now his mother requires care for dementia.And finally, on a lighter note, do you drive one of Britain’s most popular second hand cars? And what makes a car a contender to get onto that list? Hosted on Acast. See acast.com/privacy for more information.

Would you swap your car for an electric one? If the government gets it way, soon many more of us will have to.The proposed ban on selling new petrol and diesel cars was dragged forward by five years to 2035 this week – and hybrid cars were bundled into the showroom clear-out too.If that sticks, this means that by 2030 – just a decade from now – it’s highly likely the vast majority of cars being sold new will be pure electric.For a modern world that has been shaped by the internal combustion-engined motor car that’s quite the change.On this week’s podcast, we deliver an electric car special. Simon Lambert, Georgie Frost and Lee Boyce look at the logic behind banning the sale of petrol and diesel cars, whether the move can be pulled off and why hybrids are now also on the naughty list.Charging infrastructure, range anxiety and questions over their lifecycle environmental costs are issues flagged by electric car sceptics, are they right?Meanwhile, the thing holding many people back from buying them, argues Simon, is cost. Second hand supply of electric cars is thin and choice is limited; and while the pipeline of new models is picking up dramatically, they remain pricey compared to a standard petrol car.But there could be a game-changer in the form of a salary sacrifice perk combined with a change to benefit-in-kind rules, so should you be badgering your boss to sign the company up so that you can buy a new electric car at 32% or 42% off?Fittingly, this week the great Tesla adventure tale delivered another riveting chapter. In the first two days of the week, shares rocketed more than 35 per cent and have doubled since the start of 2020. Can Elon Musk’s stock heading for the moon be justified in any way?Also, on this week’s show we talk about the 5 per cent interest offered by Zeuk – and our exclusive on the Financial Conduct Authority hitting back at adverts.And finally, why did Lee Boyce take his wife and daughter out to lunch with a set of scales to eat a watermelon steak? Hosted on Acast. See acast.com/privacy for more information.

How do you decide to become an adventurer? For Alastair Humphreys, the decision in his twenties stemmed from his love of a challenge, the outdoors and curiosity about the world.The decision led to a life of adventure, in which Alastair has spent four years cycling round the world, run six Sahara Desert marathons, been on an Arctic expedition, busked his way round Spain, spending only money he could earn, and has written 13 books.But Alastair’s adventure philosophy isn’t about big expensive trips, he would rather do things on a shoestring - and wrote a book encouraging others to have their own cheap ‘microadventures’ close to home.Alastair joins Andi Peters and Simon Lambert on the third episode of the Making the Money Work podcast to tell us about funding the life of an adventurer and building a career out of his exploits.He also explains why he wants to help people live more adventurously – even if that’s just heading out of town and sleeping under the stars on a hillside.As well as talking microadventures - and encouraging Andi to try out sleeping in his garden - Alastair reveals how he comes up with ideas and money for his feats, whether it is walking a desert or rowing the Atlantic.He tells Andi and Simon about how he once headed for Spain without a euro in his pocket and no bank or credit cards, with the aim of busking his way round and only spending the money that he could earn from playing the violin.Alastair also reveals how he manages his money and saves, shares his thoughts on writing books and why self-publishing can pay off, and explains why being told he was an idiot for not having a pension - after a talk to a pensions firm - spurred him into saving for retirement. Hosted on Acast. See acast.com/privacy for more information.

It’s Brexit Day – and whether you voted leave or remain, are celebrating, or commiserating, we wish you a happy one.After 11pm on Friday 31 January 2019, Britain is officially no longer a member of the European Union. The big question is, what happens next?On this week’s podcast, Simon Lambert, Lee Boyce and Georgie Frost discuss both what Brexit means immediately for consumers and travellers, and how things may pan out for the economy and our finances over the year ahead.Where do we stand on Ehic medical cover in Europe, driving on the continent, mobile phone roaming, flight compensation and expat pensions?And what will the trade discussions on our future relationship with Europe and the rest of the world mean for the nation’s finances, businesses, inflation, the pound and interest rates?Also on this week’s podcast, the team dive much deeper into house prices than the usual survey, with a look at 174 years of property affordability and whether we can learn anything from a 70 year period when they got cheaper.They discuss Neil Woodford’s investors getting some money back and finding out how much they have lost so far and the curious case of the Lloyds customer of years who won a surprise bumper PPI payout that proved to be the ultimate loyalty penalty for being ripped off. Hosted on Acast. See acast.com/privacy for more information.

Are tax returns too taxing, why did new overdraft rules backfire, are challenger banks biting and what are the cars that hold their value best? We answer these questions on this week’s This is Money podcast. It’s tax return time. The organised will have safely filed their tax returns long ago, but there are still plenty of people who don’t yet feel the last minute has arrived.But what if you are meant to fill in a tax return and don’t realise?On this week’s podcast, Simon Lambert, Lee Boyce and Georgie Frost discuss the ten reasons that people may have to fill a tax return in, even though they are employees paid through PAYE.The team also discuss whether much of the tax return is really needed, or whether people are needlessly spending time filling in an over complicated form for an overly complex system.Also on this week’s podcast is the overdraft row that’s blown up on the back of the FCA’s attempt to improve borrowing and bank’s deciding that 39.9 per cent rates sounded about right.The team discuss whether the challenger banks are starting to bite and why people are attracted to them.The ten cars that should hold their value best are also revealed, from a Dacia to a Bentley.But remember that even the best of these will lose you 35 per cent.And finally, Simon tells us about the new episode of the Making the Money Work podcast with London 2012 Olympic-medal winning boxer Anthony Ogogo. Hosted on Acast. See acast.com/privacy for more information.

In this second Making the Money Work episode, Andi Peters and Simon Lambert talk to Olympic bronze medal winner and former professional boxer Anthony Ogogo about how people fund a boxing career and whether an Olympian makes much money. Anthony tells us about building his boxing career and how an amateur boxer has to support themselves on a shoestring – even when they are heading for the Olympics. He discusses his subsequent professional career and how after injury forced his retirement, he is swapping the boxing ring for the wrestling ring. The 30-year-old was one of the sportsmen and women celebrated by Britain as the nation enjoyed the thrill of the London 2012 Olympics and a slew of medals. Then aged 23, the middle-weight boxed his way to a bronze medal to add to the gold that he had won in the Junior Olympics in 2004. Anthony, who was also a promising footballer who played for Norwich City’s youth team, had taken up boxing at the age of 12 and by the time he arrived at the London Olympics he had also won a silver medal at the 2010 Commonwealth Games. He turned professional after the 2012 Olympics and had a short but successful career in which he challenged to be world champion. He suffered a number of injuries before a fractured eye socket forced his retirement from the sport in 2019, with 11 wins and just one loss in his professional career. In a statement on his retirement, Anthony said: ‘I’ve been through a lot in my career. I’ve had 17 operations and suffered every pain imaginable. I’ve won, lost, cried and hurt. But if you were to ask me would I do it again? In a heartbeat. I love this game’ He signed off with the words ‘Never give up’. Anthony discusses how he got through hard financial times when he was injured, why he’s been careful with money and tried to save, and what it’s like being a cash-strapped up-and-coming fighter in the boxing world where those at the top are making millions. Unable to box anymore due to his eye problems, Anthony is now on the path to a new career as a professional wrestler with All Elite Wrestling and he tells us how he intends to build that and what his financial resolutions for the future are.About Making the Money WorkIn our new podcast series Making the Money Work, in partnership with the Financial Services Compensation Scheme, we talk earnings, budgeting and savings with those whose lives and finances roam far from the norm. The five podcasts are hosted by Andi Peters, alongside This is Money’s Simon Lambert, and every fortnight over the next ten weeks you can listen to a new interview with a different special guest about their financial lives.This is Money’s Podcast will continue to appear each Friday as usual, and the Making the Money Work podcasts will be published fortnightly as a bonus episode in the feed. Hosted on Acast. See acast.com/privacy for more information.

Santander is to cut the rate of interest customers can earn with its 123 current account.It will mean one of Britain's most popular accounts will have dropped from a top tier 3 per cent when it launched in 2012 to 1 per cent.Why has the high street banking giant done this and could it result in an exodus of people moving? Does it signal the end of current accounts with benefits?It is also capping the level of cashback customers can earn while putting a blanket 39.9 per cent overdraft rate in place – following a similar move from its banking rivals.Simon Lambert, Lee Boyce and Georgie Frost take a look at what it means for the current account market, whether there are other – better – accounts to switch to and how it managed to become so popular.Also on this week's podcast, we look at the rise of the buy now, pay later form of credit and whether it is another debt trap to watch out for.Why have nearly 40,000 people put in retrospective planning applications? And can you really hide a castle behind a haystack…Lastly, the love affair with car buyers and SUVs shows no signs of abating – sales continue to grow at a faster rate than any other group.We list the five reasons, allegedly, not to snap one up and whether you should consider an alternative. Hosted on Acast. See acast.com/privacy for more information.

Savers had a resoundingly duff deal over the decade that just ended, as they paid the price for the borrowing binge that proceeded it.Understandably, many feel somewhat aggrieved – like a moderate drinker who got the hangover that should have gone to the party animal.But it’s not just ‘emergency’ low interest rates that turned permanent that delivered the pain, banks and building societies paying little respect to loyal customers and undermining them with rock bottom rates on legacy accounts has also played a major part.Now, the financial watchdog has a plan to deal with the so-called loyalty penalty. A standard savings rate across all easy access accounts and Isas, with the ability to offer better rates over limited periods, for example, 12 months.When bonus time was up, that standard rate would act a floor to protect savers against the 0.01 per cent-paying accounts of this world.Is this a solution to the problem, or just some tinkering that all but mandates bonus accounts and does nothing to tackle saver inertia?Simon Lambert, Sarah Davidson and Georgie Frost tackle the plan to improve the savings market on this week’s podcast – and discuss whether this is a wise idea for a new decade or a recipe for more of the same.Also, on this week’s podcast, as a decade ends and one begins, we look at the property market: what happened to house prices in the 2010s and how did it compare to the 2000s, 1990s and 1980s, and also what will happen this year and in years to come?The team also look ahead to the 11 March Budget and what may crop up for our personal finances, along with the growing population of over-90s and how we look after our nonagenarians properly.   Hosted on Acast. See acast.com/privacy for more information.