…
This is Money Podcast
What you need to know about money each week and what the news means for you, from the UK's best financial website.
What you need to know about money each week and what the news means for you, from the UK's best financial website.
All
Progress
Duration
Release Date
State pension boosted by 8.5% from this week - will it ever become means tested?
Older people received another [boost to the state pension this week taking the full rate to over £11,000 a year.] (https://www.thisismoney.co.uk/money/pensions/article-13276295/Older-people-boost-state-pension-triple-lock.html) This year's increase of 8.5 per cent was thanks to the triple lock commitment - a guarantee the state pension will rise each year by the higher of CPI, wages or 2.5 per cent. What does the future hold? While there is [plenty of speculation the state pension may become means tested] (https://www.thisismoney.co.uk/money/pensions/article-13275623/Will-state-pension-means-tested-property-private-pensions-Steve-Webb-replies.html) , in reality it could be incredibly hard to implement. This week, Tanya Jefferies, Georgie Frost, Helen Crane and Lee Boyce talk state pensions – and how they compare to other countries. And sticking on the theme, there is another [delay for the Government’s new online state pension top-up service] (https://www.thisismoney.co.uk/money/pensions/article-13272333/New-online-state-pension-ups-service-delayed.html) . When will it launch? [NS&I has a four day IT meltdown] (https://www.thisismoney.co.uk/money/saving/article-13289673/NS-log-problems-persist-four-days-claims-NOT-cyber-attack.html) that makes it a struggle for customers to log-in – and it [suggests to one that she may have a ‘time drift.’] (https://www.thisismoney.co.uk/money/saving/article-13276063/NS-Premium-Bonds-log-problems-bizarre-time-drift-quirk-blame.html) What does this bizarre explanation mean? Crane is on the Case once more, this time [Eon is in the firing line after it insisted a part-time dance teacher used £95,000 worth of energy] (https://www.thisismoney.co.uk/money/bills/article-13292471/Eon-sent-small-dance-school-shock-95k-energy-bill-CRANE-CASE.html) … in a month. And who on earth would hold an [American Express card in their wallet with an APR 704.6 per cent?] (https://www.thisismoney.co.uk/money/cardsloans/article-13288619/This-American-Express-Platinum-card-APR-704-6-heres-why.html) Lee has the answer.
12 Apr 2024
55 MINS
55:28
12 Apr 2024
Beware fixed-rate savings trap… and secrets from an Isa millionaire
There's a warning for [savers who's fixed term deals are coming to an end] (https://www.thisismoney.co.uk/money/saving/article-13264845/Dont-let-banks-roll-Isa-easy-access-account-paying-just-1-5-says-SYLVIA-MORRIS.html) - don't take your eye off the ball now or risk having your returns wiped out in a matter of months. A year ago, there was a flurry of savers choosing fixed-rate bonds as they improved drastically. But if you don't act, the chances are it'll rollover into an awful rate. On this week's This is Money podcast, Helen Crane, Lee Boyce and Georgie Frost talk savings, just as we head into a new financial year. Also on the savings front, [NS&I reveals the rate of the new British Savings Bond] (https://www.thisismoney.co.uk/money/saving/article-13266785/British-Savings-Bonds-NS-reveals-rate-itll-pay-new-accounts.html) - is it worth it? And an [Isa millionaire reveals all to This is Money on how he built up a seven-figure pot] (https://www.thisismoney.co.uk/money/isainvesting/article-13263839/Im-Isa-millionaire-tips-building-chunky-tax-free-pot.html) . Helen tackles another reader problem – this time, it's a case of the [unwanted and unneeded Sim card costing a pensioner couple hundreds of pounds] (https://www.thisismoney.co.uk/money/bills/article-13267275/I-paid-Virgin-O2-650-Sim-card-didnt-want-nearly-two-years-CRANE-CASE.html) . And on the utilities front, Lee reveals how [Ofcom saved him from a 75 per cent rise in his monthly broadband costs] (https://www.thisismoney.co.uk/money/bills/article-13267983/I-faced-75-broadband-bill-rise-says-LEE-BOYCE-Ofcom-saved-haggle-dance-hassle.html) , and why you should check if you're out of contract with your mobile phone. [Mortgage approvals are up] (https://www.thisismoney.co.uk/money/mortgageshome/article-13263313/Mortgage-approvals-hit-17-month-high-says-Bank-England.html) - but house prices nudge lower. What's going on? Meanwhile, research shows a record [third of all homes are being bought by first time buyers] (https://www.thisismoney.co.uk/money/mortgageshome/article-13245167/A-homes-bought-time-buyers-London-HALF.html) – and they make up 89 per cent of buyers in one Berkshire town. Lastly, entrepreneur Tim Armoo runs the rule over [five money-making fads doing the rounds on social media] (https://www.thisismoney.co.uk/money/smallbusiness/article-13244091/Five-TikTok-money-making-fads-explained-Entrepreneur-TIM-ARMOO-gives-verdict.html) – are any of them worth your time?
05 Apr 2024
58 MINS
58:50
05 Apr 2024
Is a 99% mortgage really that bad?
The row over small deposit mortgage is the gift that keeps on giving. Hot on the heels of the Budget plan that never appeared arrives Yorkshire Building Society's new deal, that's been dubbed a 99 per cent mortgage. But is it really one of those and does it have any redeeming features? And if it's cheaper than you rent, is there anything wrong with taking a 99 per cent mortgage? On this week's This is Money podcast, Georgie Frost and Simon Lambert talk tiny deposit mortgages, negative equity and buying vs renting. Plus, gift card draining scammers, can your pension last retirement, and finally, where are the experts investing their Isa and how can you easily sort yours?
29 Mar 2024
46 MINS
46:05
29 Mar 2024
How to sort your pension and Isa before the tax year ends
There is less than a fortnight to go before the end of the tax year and that means it's time to sort your Isa, pension and finances before it's too late. With another tax raid on the way for investors on capital gains and dividends, this is one of the most important tax year ends in years. On this special bonus episode of the This is Money podcast, Simon Lambert talks to Rob Morgan, of Charles Stanley Direct, to find out what investors need to do and why sorting your pension and Isa can save you a substantial amount in tax.
25 Mar 2024
34 MINS
34:21
25 Mar 2024
Will the Bank of England cut rates as soon as people think?
The Bank of England held interest rates again this week as inflation dropped once more. So, are we out of the woods yet? Will inflation keep coming back down towards target and the Bank of England soon seamlessly switch back to cutting rates? Or will central bankers be keen to hold onto higher rates, even if we get hit by a bout of disinflation? On this week’s podcast, Georgie Frost, Lee Boyce and Simon Lambert look at [what next for inflation and interest rates] (/money/mortgageshome/article-13219881/Bank-England-holds-rates-5-25-means-mortgages-savings.html) and what it means for your money. Also on the episode, should the Waspi women who saw their state pension age rise rapidly be compensated for the poor communication and how much of a victory was this week’s [Parliamentary Ombudsman Waspi report a victory] (/money/pensions/article-13222927/Victory-WASPI-women-Ombudsman-compensation-scheme.html) for them? As that happened, [more news emerged on underpaid state pensions] (/money/pensions/article-13223101/DWP-tracks-half-billion-pounds-state-pension-underpayments-latest-count-shows.html) – as exposed by our Tanya Jefferies and pension columnist Sir Steve Webb, and the team update us on that. Plus, what’s going on with the chaos at HMRC and who is to blame for the failure to keep up with our increasingly tricky tax system. And finally, [meet the Scambaiters] (/money/beatthescammers/article-13209865/Were-not-caped-crusaders-Meet-scambaiters-beating-fraudsters-game.html) – we find out what they do and why.
22 Mar 2024
1 HR 02 MINS
1:02:35
22 Mar 2024
Was the Budget too little, too late - and what will it mean for your money?
Jeremy Hunt bounced around delivering his Budget on Wednesday, proudly declaring his commitment to tax cuts and supporting working families. Another 2p was chopped off National Insurance and the threshold at which child benefit is removed was raised from £50,000 to £60,000. But you don’t need to be a financial expert to know that the Chancellor’s version of events isn’t quite the whole story. Because Mr Hunt is also presiding over a long-term stealth tax freeze to thresholds that is costing workers dear and his child benefit move merely kicked sky-high marginal tax rates down the road, rather than getting rid of them altogether. Nonetheless, a tax cut and an extra £5,000 Isa allowance – even if it’s a slightly iffy, limited one – is not to be sniffed at. So, was this an escape velocity Budget that puts Britain back on the path to growth? Or was it too little, too late, from a Tory party that has sported successive Chancellors who have been keener to raise our taxes by hook or by crook rather than cut them – or even just keep thresholds in line with inflation. On this week’s Budget special This is Money podcast, Georgie Frost, Lee Boyce and Simon Lambert look at the winners and losers and go searching for the devils in the detail. What is the NI cut worth to you? Will you get some child benefit back? Did pensioners deserve a tax cut too? With a failure to reverse his capital gains and dividend tax raid, what has the Chancellor got against small investors? And will the British Isa be any good? All that and more – plus a look at why Nationwide is buying Virgin Money and whether that’s good or bad for us all.
08 Mar 2024
1 HR 07 MINS
1:07:59
08 Mar 2024
Quick Budget reaction: Investing experts on the Chancellor's speech
On this bonus episode of the This is Money Podcast, Simon Lambert is joined by Charles Stanley Direct’s Lisa Caplan and Garry White for a quick run through what was in the Budget. Investment experts Lisa and Garry talk us through the main Budget points and what they mean for people. Join us on Friday for the full Budget episode where the This is Money Podcast team will dissect Jeremy Hunt's plan and reveal the devils uncovered in the details.
06 Mar 2024
15 MINS
15:36
06 Mar 2024
Tale of the state pension underpaid for 20 YEARS
The debacle over widespread errors in the state pension that This is Money and Sir Steve Webb uncovered, continues.
As of the end of October last year, DWP had paid out just under half a billion pounds to more than 80,000 people who’ve been underpaid. But what about those who have died? This week, Tanya Jefferies, Lee Boyce, Angharad Carrick and Georgie Frost reveal the case where a letter was sent to the daughter of an 100 year-old man three years after he passed away, stating he had been unpaid state pension for two decades.
Yet, despite the letter – months later, she was left hanging on what the DWP was actually going to do about it.
And still on the state pension front, people continue to complain of top-ups chaos as the Government gets ready to launch a new online service next month.
Sir Steve is calling on DWP and HMRC to get in more staff. You don’t need HMRC to have more staff to answer your call, oh no! You just need to be a VIP. Apparently there is a helpline, also known as Public Department 1 (PD1) which answers calls nine times quicker. We explain more.
On the savings front, the FCA is launching a campaign to encourage savers to shop around – and if you rushed to sign up for a one-year fixed-rate cash Isa this time in 2023, Lee explains why you must act.
Optional and mandatory service charges at hospitality venues – Georgie, Ang and Lee give their verdict. And finally the price of bitcoin jumped beyond $60,000 this week. What’s behind the latest cryptocurrency surge?
01 Mar 2024
53 MINS
53:25
01 Mar 2024
Will the Budget cut taxes and get rid of these traps?
With the Budget tipped to be the Chancellor’s last roll of the dice before a General Election, expectations over tax cuts are growing. But what taxes could Jeremy Hunt choose to cut and why – and is there hope that he will sort out the tax mess that Britain has got stuck in. The higher income child benefit charge creates marginal tax rates above 50 per cent, meanwhile the removal of the personal allowance bakes in a 60 per cent income tax rate between £100,000 and £125,140. Should these tax traps and painfully high stamp duty be removed? On this week’s podcast Simon Lambert argues that Mr Hunt needs to have a clear out, chuck a load of stuff in the stupid tax box and bin it. Simon, Georgie Frost and Lee Boyce look ahead to [what could be in the Budget] (https://www.thisismoney.co.uk/money/bills/article-13103591/Spring-Budget-2024-changes-Jeremy-Hunt.html) and what it would mean for you. Also, on this week’s episode, [energy bills are due to fall as the price cap is cut] (https://www.thisismoney.co.uk/money/bills/article-13114045/Energy-bills-fall-238-year-April-Ofgem-confirms-price-cap-drop.html) but how much will this save you? It’s not just tax catching people out, [student loans are also proving difficult to shift] (https://www.thisismoney.co.uk/money/cardsloans/article-13100415/My-student-loan-increased-25-six-years-pay-early.html) as interest mounts up due to high inflation. Does the student finance system need a sort out too? And what is Simon’s triple lock for student loans plan? And finally, don’t get spear phished or tap jacked, Lee talks us through [the new scams you need to know about] (https://www.thisismoney.co.uk/money/beatthescammers/article-13091893/Experts-warn-five-scams-scammers-look-2024-phishing-quishing.html) .
23 Feb 2024
1 HR 08 MINS
1:08:33
23 Feb 2024
The UK is in recession but does that matter (and could things be about to get better)?
It's finally happened. After months of will-we, won't-we speculation, the UK economy has finally succumbed to recession. The ONS revealed this week that a drop in GDP in the final three months of 2023 meant that Britain had racked up two consecutive of negative growth - and thus the dreaded R word is here. But is this a bad one, why does the term 'technical recession' keep being bandied about and do these backward-looking figures mask things already getting better? On this week's podcast, Georgie Frost, Helen Crane and Simon Lambert look at what recession means for the UK and you. Plus, who are the villains among big banks and building societies when it comes to sky-high standard variable rates for mortgage borrowers and is it them or the customers themselves to blame if somone ends up paying almost 10 per cent interest? Also on the show, the customer turned down for a switching bonus by HSBC because they had a Midland account 21 years ago. And finally, electric car sales aren't growing as fast as the government or car makers want. Does that mean it's time to drive a bargain?
16 Feb 2024
52 MINS
52:50
16 Feb 2024
Interview: Sir Stelios on how he launched easyJet - and backing young entrepreneurs
In this special bonus This is Money podcast episode, Simon Lambert speaks to easyJet founder Sir Stelios Haji-Ioannou. Sir Stelios tells the story of how he launched easyJet his easyGroup of companies - and how allowing others to build companies using the easy brand works. He also explains why he is backing entrepreneurs under the age of 35 with his Stelios Philanthropic Foundation awards and giving away £150,000 to the successful winner.
13 Feb 2024
14 MINS
14:58
13 Feb 2024
Will you be able to afford a comfortable retirement?
The cost of a comfortable retirement has jumped over the past year - but what do you need to get one and will you get there? As the Pension and Lifetime Savings Association updates its annual look at how much income people need for a basic, moderate or comfortable retirement, Georgie Frost, Lee Boyce and Simon Lambert take a look at what this all means for you. If a comfortable retirement costs a couple £59,000 a year and a moderate one £43,000, which one do you have a chance of achieving - and are there any important bits being left out of the costs? The team look at the cost of retiring, why it might not be as expensive as it first looks, how to invest for retirement and what sort of back up the state pension will provide. Plus, why our real top rate of income tax is 60 per cent - and it's not the highest earners hit by it on their next pay rise - and is there any hope that Jeremy Hunt will be the Chancellor who finally does something about it. The case for not just cutting stamp duty but getting rid of it altogether. And an interview with a modern-day business legend. Simon speaks to easyJet and easyGroup founder Sir Stelios Haji-Ionnou about how he started the airline and built it up and his Young Entrepreneur awards.
09 Feb 2024
1 HR 03 MINS
1:03:28
09 Feb 2024
Why would the Bank of England cut rates this year?
The Bank of England [held base rate once again at 5.25 per cent] (https://www.thisismoney.co.uk/money/mortgageshome/article-13028685/Bank-England-holds-rates-5-25-means-mortgages-savings.html) , the fourth hold in succession – but this time, it was a genuine split by MPC members. So, when will we start seeing rates fall – and will inflation really be at the target 2 per cent by April? This week, Simon Lambert, Lee Boyce and Georgie Frost discuss what another interest rate pause means for you – and what that means for savings and mortgage rates, along with investors. Where do you stand on the smart meter debate? With This is Money readers getting in touch to [say they’re stuck with faulty devices] (https://www.thisismoney.co.uk/money/bills/article-13028313/I-no-inclination-smart-meter-says-LEE-BOYCE.html) , are they worth having? Lee says he still has no plans to get one of the marmite devices while Simon believes they can be worth it, especially for those who are rubbish at submitting meter readings. We also go back to school and have a maths lesson from Mr Lambert to reveal the [six real world calculations you should have in your arsenal to improve your financial health.] (https://www.thisismoney.co.uk/money/pensions/article-11644599/Six-maths-lessons-learn-richer.html) And we get on the money therapist’s couch to discuss the [pitfalls of getting - and over-using - a joint bank account] (https://www.thisismoney.co.uk/money/saving/article-13032487/My-husband-resents-splashing-joint-account-making-miserable-Money-psychotherapist-VICKY-REYNAL-replies.html) … should a partner ever be made to feel guilty for spending?
02 Feb 2024
58 MINS
58:45
02 Feb 2024
Why has Britain fallen behind on getting richer?
Britain's disposable income has dropped substantially over the past 14 years compared to where it should be, according to a new report this week. The Centre for Cities said that the average household's disposable income has fallen £10,000 behind where it would have been if pre-2010 growth rates had been maintained. On average we have got better off, but we are well below what would have been expected. On this episode of the This is Money podcast, Georgie Frost, Lee Boyce and Simon Lambert look at what the problems could be, why aren't we getting richer quicker, why are we falling behind our international peers and what can be done. Plus, while our living standards arent rapidly accelerating, house prices have and the average seller made more than £100,000 last year - is property inflation and the slowing in disposable income growth linked? Simon, thinks it's part of the problem. Savings rates have started to slip, so do dividend-paying investment trusts yielding 5 per cent or more look like an attractive move. And finally, some tips on how to make the most of Avios points - but who on the team is the Avios winner and who is the self-described Avios loser.
26 Jan 2024
1 HR 07 MINS
1:07:00
26 Jan 2024
You can bag a £10k heat pump discount... would that tempt you to get one?
The Government wants us to get heat pumps fitted in our homes and it's offering up to £7,500 for us to do so. Now Worcester Bosch is bumping that up by an extra £2,500 - if you pick one of theirs of course. But with the devices cost between £8,000 to £30,000 to buy and fit, would it tempt you? Georgie Frost, Helen Crane and Lee Boyce reveal all... and talk the 'boiler tax'. Is inflation back on the rise? How worried should we be by the latest figures? And where next for interest rates? And millions face a big price hike for their mobile and broadband from March. Isn't it time these inflation-busting mid-contract increases were banned? Also today…following campaigning by This is Money for years for fair treatment for parents who do not qualify for child benefit, parents denied state pension credits WILL get them. Tanya Jefferies explains all you need to know. Tanya also talks about a bungled handover to a new administrator that has left BAE Systems retirees suffering drastic cuts of up to 50 per cent in their pensions. And Crane is on the Case, this time over a robot vacuum cleaner...
19 Jan 2024
1 HR 00 MINS
1:00:58
19 Jan 2024
Should you stick your money in Premium Bonds, a savings account or invest?
After a good year for Premium Bonds when the only way was up for the prize fund rate, savers got a blow this week as a cut arrived. The prize fund rate is being cut to 4.4 per cent from 4.65 per cent. That edges the average return - which you may or may not get - from Premium Bonds further below the best savings deals, so should you save instead? Or would many Premium Bond holders be better off investing? On this podcast episode, Georgie Frost, Lee Boyce and Simon Lambert discuss whether Premium Bonds stack up. Plus, as the US securities regulator aproves bitcoin ETFs, is the price now headed for $200,000 as some suggest, or could this be enticing more naive investors into the volatile world of crypto that's been dogged by fraud? Later, Lee reveals his car insurance woes - and shares tips on how to deal with your own renewal quite pain. And finally, find out who on the podcast team is not drinking for January, who is taking an extremely haphazard approach to it, and who is planning to go all the way to Easter, as we discuss the no and low-alcohol beer boom and the ones we rate the best.
12 Jan 2024
1 HR 02 MINS
1:02:04
12 Jan 2024
Is the taxman really going after Ebay sellers?
Have you ever sold anything on Ebay, Vinted or Facebook Marketplace to make a bit of extra cash? Those who do may have been worried this week, as news that the websites will now be required to [report sellers' activities to the taxman ] (https://www.thisismoney.co.uk/money/savemoneymakemoney/article-12922689/Will-HMRC-really-come-selling-old-clothes-unlikely-youll-taxed.html) caused panic online. So what are the rules - and is HMRC really going after people who sell the odd frock or mobile phone? In this week's episode, Lee Boyce, Helen Crane and Georgie Frost explain what's really happening, how to tell if you are a 'trader' - and why most people having a clear-out of their old clothes won't need to worry. Mortgage lenders have started 2024 with a bang, with the likes of HSBC, NatWest and TSB announcing rate cuts left, right and centre. There is now a five-year fix with a rate of 3.94 per cent - so what does that tell us about how low the base right might go this year, and [will these cheaper home loans start to drive up house prices again] (https://www.thisismoney.co.uk/money/mortgageshome/article-12926527/As-lenders-cutting-fall-mortgage-rates-drive-house-prices.html) ? As we get back to reality after the festive break, we are also approaching Divorce Day. The first working Monday of the year is supposedly when unhappy couples are most likely to call it quits. If that is you, we are on hand to explain what you need to know about [splitting your property, pension and more with an ex] (https://www.thisismoney.co.uk/money/bills/article-12922827/Getting-divorced-clean-fair-financial-break.html) . Finally, Lee, Helen and Georgie discuss what they learned about their finances in 2023 - and the mistakes they won't be making again this year.
05 Jan 2024
54 MINS
54:06
05 Jan 2024