This is Money Podcast

It finally happened. The Bank of England raised interest rates for the first time in more than a decade this week.But what was the point of that rate rise? It was certainly a curiosity, coming alongside a decidedly downbeat Inflation Report.Was it to dampen inflation, to send a warning sign to borrowers, or just to put a tiny smile on beleaguered savers’ faces?On this week’s podcast, Simon Lambert, Rachel Rickard Straus and Georgie Frost look at why the Bank raised rates and what it means for you.They also dive into the really crucial question: how high will the base rate go from here and how fast will it rise?There’s also some ideas to get richer whatever happens next with interest rates, a jargon-busting look at what on earth is the bank of England talking about in its reports, and tips on how to find the best savings account… while one of the worst is shamed.And it’s not all interest rates, we’ve also got the state pension trap for those trying to boost payouts and the intriguing question of whether someone has to pay tax on an astonishing £3,995,000 profit on Bitcoin.Enjoy. Hosted on Acast. See acast.com/privacy for more information.

Do you have a will? If not you should probably get one. But if you do have one, do you understand what’s in it?According to Will Aid, MORE THAN HALF (54%) of parents with children under the age of 18 don’t have a will. That’s 54 per cent minus one person now, however, after This is Money editor Simon Lambert finally got his act together and sorted his out.So what do you need to know about getting a will, what’s easy, what’s complicated and what are the things you don’t want to think about but have to? Simon explains what he found out when he got his.Also on this week’s show, Georgie Frost and Lee Boyce discuss the best way to help bank fraud victims – and whether enough is being done to get people’s money back and warn potential victims.Plus, we find out how to invest like one of the most successful investors ever, Warren Buffett, from the Buffettology fund manager who has spent the past five years beating the UK market by doing just that.The cars most people want to ditch through scrappage are also revealed, as we look at the question of whether people are getting themselves a good deal or just being lazy.And finally, it’s time for a last ditch round of ‘will interest rates rise next week?’ Find out which one of our podcast trio says they will by giving it a listen.Enjoy. Hosted on Acast. See acast.com/privacy for more information.

Inheritance tax is one of the most hated around.Despite the fact that most people will never leave enough wealth to have it charged on their estates, we really don't like the idea of 40% above a certain amount going to the taxman.But IHT is also a tax that can be avoided. How? Listen to this week's podcast to find out, as Simon Lambert, Georgie Frost and Sarah Davidson discuss all things inheritance.They look at how it works, ways to avoid it and the traps you could fall into.They also have some ideas about what we should do about it.If Chancellor Philip Hammond is listening - and we sincerely hope he does tune in – then he can get some feedback on an idea he was credited with this week: taking some money off the old, to give to the young. What started out as rumours of a lower tax rate for the under-30s, ended up as an apparent Budget plan to cut pension tax relief for older savers and somehow boost what’s on offer to younger people.Our story on this has been the most read of the week and the idea has faced a huge backlash. Why is that, could this work or is it just more shuffling of the deckchairs?Also, up for discussion is the latest economy news, from inflation, to wages, a state pension increase and a November rate rise that may or may not be nailed on.And finally, do you have a favourite motorway service station? It turns out that some of the This is Money team are sad enough to have one – so if you’re like us you’ll be glad to know an astonishing 112 British service stations have been ranked. What is Georgie’s top motorway service station? Listen to the end to find out. (Now, there’s an invitation.)Enjoy. Hosted on Acast. See acast.com/privacy for more information.

Behavioural economists believe a gentle nudge in the right direction can make you richer and over recent years they have managed to win the ears of governments around the world – including the UK’s.This week one of the thinkers who helped spread the word on behavioural economics, Professor Richard Thaler, won a Nobel Prize for economics.In the old world of economics textbooks, people behaved perfectly rationally and made the right choices. In the real world, of course, we don’t. We make irrational decisions that fly in the face of economic theory all the time.Yet, our irrational behaviour can be an asset. It means that we can be nudged into making the best choices.Professor Thaler’s catch-all advice is whether you’re a business or a government, if you want people to do something, make it easy.In Britain, one example adopted by the Government has been pensions. Instead of getting people to opt into a pension, we’re now automatically enrolled and then offered the chance to opt out. It’s now easier to have a pension than not to. Unsurprisingly, more people now save into pensions.On this week’s podcast, Simon Lambert, Rachel Rickard Straus and Georgie Frost take a look at Professor Thaler’s work, his prize, behavioural economics and the whole nudge idea. Does this all really work?Also, on the show we look at the ONS’ new price per square metre map of UK house prices and whether it tells us anything new – and we pick up on an interesting report from estate agent Savills on how to get homes built and sold for less than the market price.With mortgage rates suddenly taking a step up we look at whether now is the time to fix, how to find the best deal and what you should do if you’re already on a fixed rate but think you may miss out on the cheapest deals by the time it finishes.Also on the agenda, we lift the lid on a new batch of ‘better’ savings rates coming to the market and dive into why shares, bonds, property and other asset prices rise.And finally, Simon tells us about the new Great British Entrepreneur’s Challenge in which This is Money and entrepreneur Andy Yates are looking to find a start-up and help it grow.Enjoy. Hosted on Acast. See acast.com/privacy for more information.

Households are being pushed into having smart meters fitted by energy giants trying to meet their own targets.But despite delivering accurate billing many are unhappy at having the meters fitted. So what's the problem with them?Lee Boyce, Georgie Frost and Simon Lambert, discuss smart meters on this excerpt from the This is Money podcast. Hosted on Acast. See acast.com/privacy for more information.

Forget coughing fits, pranksters and tumbling letters for a minute. Along with a car crash speech for Theresa May, the Tory party conference also brought a few policies that might make a difference to our financial lives.Student fees, housebuilding and an energy price cap all came up on the agenda.But was this just tinkering around the edges, or a solid plan to improve three highly controversial areas?Last week, the This is Money Podcast asked what Labour would do to the UK economy and your finances, so this week it seems only fair to ask the question of the Conservatives.Listen to the podcast to join Simon Lambert, Laura Whitcombe and Georgie Frost on a tour through those Tory policies – and whether they have any chance of working – alongside the rest of the money news you need to know about this week.Also on the agenda this week, we talk pensions, discussing why a reader’s state pension has been cut even for the years they were contracted in and whether we need to be worried about final salary schemes paying out what they are meant to.'Open banking' and whether banks should be allowed to scan your spending habits to then alert you to better deals is also discussed, along with the things you should avoid doing to your home if you ever want to sell it.And finally, in some breaking news we bring you the information you’ve all been waiting for. How much did the top new £10 note sell for at the Bank of England auction?Was it £700, £3,400, or £7,200? Enjoy. Hosted on Acast. See acast.com/privacy for more information.

In this excerpt from the This is Money Podcast, Simon Lambert, Rob Hull and Georgie Frost discuss how new car buyers can get the best deal from the car scrappage schemes being offered by dealers. The This is Money Podcast brings you everything you need to know about money each week, in partnership with NS&I Hosted on Acast. See acast.com/privacy for more information.

Labour didn’t win the last General Election but leader Jeremy Corbyn believes it could do next time. In case that comes around anytime soon, the party this week laid out some plans at its conference.Shadow Chancellor John McDonnell also revealed that the leadership would be doing war game planning should a Labour victory cause a run on the pound or a stock market slump.Depending on your point of view, this may sound amusing, scary or exciting. But what does it actually mean and should we be worried?Corbyn's plans are pretty radical and would herald a sharp turn in the country's economic direction but should we be worried about the economy as it is now?Perhaps the rumoured Bank of England rate hike is a sign that things are absolutely fine.On this week’s This is Money podcast, Simon Lambert, Georgie Frost and Lee Boyce take a look at whether the UK’s pint glass is half empty or half full – and whether that means you will get richer or poorer.The team also look at whether the unloved UK is a contrarian investing opportunity and how people taking advantage of pension freedom can make their pot last and enjoy a richer retirement.And for those who enjoyed the driving theory test quiz of a fortnight ago (and the towing a trailer-based knowledge bashing that came with it), it’s question time again: This week, how much do your household appliances cost to run each year?Enjoy. Hosted on Acast. See acast.com/privacy for more information.

This week the team ask the million dollar question: are interest rates really about to rise before the end of 2017?Are house buyers in property 'paradise' after a recent index showed a fall in monthly house asking prices - and should homeowners fix their mortgages for the long term?Brexit has thrown up many potential problems and could private expat pensions be one of them?And note mania is back - last week saw the new polymer £10 note launched. We tell you what serial numbers to look out for to potentially make a tidy profit.Enjoy. Hosted on Acast. See acast.com/privacy for more information.

This is Money has had a string of questions from readers looking to give their cash to children or grandchildren but who also wish to protect it from being squandered or lost in a relationship break-up.Whether the money is for a house deposit or to avoid inheritance tax, or for any other reason, it’s a major modern concern - especially as the sums involved can be tens or hundreds of thousands of pounds.On this week’s This is Money podcast, Simon Lambert, Rachel Rickard Straus and Georgie Frost discuss why people are worried and what they can do – if anything.Can you really control money once it has been given away?Could partners – or even theoretical future partners – get their hands on it?And why give it away in the first place if you’re going to worry about how it’s used?Also, on the agenda is the 10-year anniversary of the run on Northern Rock – when customers feared for the bank’s future and queued up outside branches to withdraw all their cash. It was the birth of the financial crisis in the UK followed by the credit crunch.How did the decade that followed change our financial lives and who have been the winners and losers?With interest rates held again we look at whether they could still rise this year – as Simon has bravely predicted – and why you shouldn’t be suckered in by a stunning looking 7.75% fixed-rate bond claiming official FSCS protection that you found on Google.If it looks too good to be true it surely is – right? That’s the rule. But if someone told you that you could buy into something that’s up 70% in two years at a discount - and it still looks reasonably cheap - you’d walk away wouldn’t you? But that’s the deal with emerging markets investment trusts. Why?And finally, we see whether Simon, Georgie, or Rachel could pass a driving theory test today using the quiz we put to our readers. It sets off more discussions about towing a trailer than you’d ever expect on a money podcast.Enjoy. Hosted on Acast. See acast.com/privacy for more information.