This Is Money Show

Should you save cash and accept low interest rates, or invest and take the risk that you could lose money? This is the perennial dilemma for those with some money to set aside, who are looking to build their wealth. And it’s not been made easier by a rollercoaster 20 years. Since the turn of the millennium, we’ve had three hefty stock market crashes, but we’ve also had the past decade of historically low interest rates. In response to paltry savings rates, more people have been encouraged to invest in shares for a better return, but the coronavirus crash has left the UK’s flagship stock market index, the FTSE 100, below its level on 31 December 1999, and burnt the fingers of many recent investors. So, is it worth investing, or should you just stick with the relative stability of cash? On this episode of the This is Money podcast, Simon Lambert, Lee Boyce and Georgie Frost look at our exclusive statistics on who is investing, who is bowing out of the market, and what the new generation of younge

The economic destruction of the coronavirus crash was laid bare in reports from the Office of Budget Responsibility and IMF this week. Lockdown has already wiped £50billion off the UK economy and is costing the nation £2billion a day, said the OBR. Meanwhile, the IMF warned the global economy would take the biggest hit since the Great Depression in the 1930s, with advanced economies shrinking 6.1% this year and developing countries by 1%.  But although the OBR forecast an astonishing 35% slump in UK output in the second quarter of this year - with a three-month lockdown - the other side of its chart showed a substantial bounce-back. What will we need to do for that recovery to happen – and what will it look like? On this week’s podcast, Simon Lambert and Georgie Frost look at the reports on the economic impact of Covid-19 and at the potential bounce back, along with which sectors and businesses could seize the day when it comes. They also discuss the big tech firms that have benefitted from

It can be tough to find good news at the moment but on this special Easter podcast we go looking for some. And amid the coronavirus gloom, there are some good news stories to tell, from how Britain has adapted to working from home, to the appreciation shown to our valued frontline workers and NHS staff, and those volunteering to help others. On the podcast, Simon Lambert, Lee Boyce and Georgie Frost discuss this and tell the stories of some of the small businesses that have been sought opportunity in adversity. From the pub doing meals and pints to go, to the garden centre that has stared delivering and the milkman who has seen business boom, these are inspiring stories of entrepreneurial spirit and helping out the local community. The team also reveal how you can visit the world from the comfort of your sofa – it’s not a real holiday but you can at least do some sight-seeing.  Meanwhile, Lee goes on the trail of the apps keeping us social in the lockdown: from Slack at work, to Zoom video chat

Every year Collins Dictionary chooses its word of the year and just three months into 2020, it feels like coronavirus might be a shoe-in for the title. But among the other words likely to be picked as high-fliers, it seems that furlough will also be in with a shout. Until a few weeks ago, it's unlikely many people had ever considered what being furloughed would mean, but now it's the topic on many workers’ minds. The concept of asking workers to go on furlough lies at the heart of the government’s coronavirus jobs rescue scheme – as it seeks to stall firms making people redundant and offers to pay 80% of their wages up to £2,500 a month. But is picking up the wage bills of big businesses a wise move, will it help save jobs and is the price worth paying because the cost of not doing it is worse? On this week’s podcast, Simon Lambert, Lee Boyce and Georgie Frost discuss what it means to be furloughed and whether the emergency plan can work. They also look at the travel industry chaos and how a

Britain is on lockdown and so is the property market. The Government has told people not to move home while the coronavirus lockdown is on, and the property market has been frozen as estate agents are instructed not to do viewings and valuations and surveys can’t happen. Meanwhile, banking giants Barclays and Halifax have axed a big chunk of their mortgage ranges – only offering new deals through brokers to those with the largest deposits – and the industry says it has been overwhelmed with requests for mortgage holidays. Amidst all this, many are asking the inevitable question: ‘What will happen to house prices?’ On this week’s podcast, Simon Lambert, Lee Boyce and Georgie Frost look at what buyers and sellers can do, how the freeze is affecting those due to move, and explore what could happen next for the property market. They also discuss Chancellor Rishi Sunak’s rescue package for the self-employed and why it is a welcome measure that seems to have some glaring gaps. And finally, among a

Britain has been told to stay at home, pubs have been ordered to shut and you’re not even allowed to go to the gym instead. The coronavirus crisis has turned the consumer economy upside down. Businesses and workers risk going bust on an almost unprecedented level, unless a rescue plan that works can be cooked up. Cutting interest rates and quantitative easing was the medicine in the financial crisis, but that’s not working this time round, so is it time to start up the helicopter and drop some money. Helicopter money, people’s QE and a universal basic income are three of the highly unusual measures suggested, as we go through the back of the financial looking glass. All involve handing out money directly to people and businesses to combat a global economic crisis triggered by pressing the pause button, but is that wise? On this week’s podcast, we discuss why rescue attempts so far have failed to stop share prices falling, how Chancellor Rishi Sunak stepped things up with a £350billion bailout p

Well, what a week. We've had a Budget, a 0.5 per cent base rate cut and stock markets going haywire thanks to coronavirus and oil price crashes. Why did the Bank of England cut rates to 0.25 per cent on the morning of the Budget and what are policymakers hoping to achieve? How did Rishi Sunak perform in his first Budget as Chancellor and what was announced in his speech? On Thursday, the FTSE 100 saw its second biggest dive on record. What is happening to the markets and where does it end? On this week's podcast, Simon Lambert, Lee Boyce and Georgie Frost, dissect what has been one of the most turbulent weeks in living memory. In the Budget, we had a number of coronavirus measures – but also some titbits of personal finance news that could hit the pound in your pocket. We also look at what coronavirus means for travel insurance and your refund rights to events

Every year, between March and April, there used to be a cash Isa season. Banks and building societies clambered over each other in the race to top the best buy tables. This hasn't been the case for a while. However, Nationwide - with a new savings lottery - and Coventry - with a new deal - have offered signs of some green shoots this year, but is it even worth having a tax-free savings account anymore? On this week's podcast, Simon Lambert, Lee Boyce and Georgie Frost go to Isa-town, to talk cash savings deals, the best services to invest, and how to overcome the fear that coronavirus-induced stock market falls have delivered.   Elsewhere, the coronavirus also hit the Geneva Motor Show, but the motor industry decided many of the launches could take place online instead.  What cars were unveiled? Well it broadly fell into two camps, very expensive limited edition hypercars and electric cars that might be the future for the mass market. Simon and Lee talk through the best of them. Meanwhile, a re

On this episode of Making the Money Work podcast, comedian Shappi Khorsandi joins Andi Peters and Simon Lambert to discuss how she built a career in comedy, her unusual life as the daughter of an exiled Iranian poet - and how she once hired Alan Carr to work in a charity call centre. This is the final episode of five in the Making the Money Work series, in partnership with FSCS, that has appeared in the This is Money podcast feed every fortnight since the start of the year. We hope you have enjoyed them. Your usual This is Money podcast will continue to be published every Friday How do you make comedy pay the bills? That’s not a problem for the handful of star names with giant arena tours, but what about the majority of comedians who’ve dedicated a life’s work to standing up and making people laugh without raking in millions? Shappi tells of her route to becoming a comedian and how she realised a job in an office wasn’t for her early on, swapping that for being a cleaner and nude life model for art

Bull markets don't die of old age, we've been told countless times in recent years, but do they die of coronavirus? That is the question that rattled investors are asking themselves after an astonishing week in which the FTSE 100 has fallen 12 per cent. Stock markets around the world have sold off, as investors dump shares driven by a combination of the fear that a crash is finally arriving and the forecasts that coronavirus and attempts to stop it spreading will cause a global slowdown. The UK stock market is down 15 per cent from its mid-January recent peak - what should investors do at times like these? On this week's podcast, Simon Lambert, Lee Boyce and Georgie Frost discuss why coronavirus has hit markets so hard, why investors should not act rashly out of fear and panic, and consider the advice from investing experts. Elsewhere, we reveal how we helped a couple get their £25,000 savings back after their phone number was ported away without consent. Things get a little silly as we talk

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

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 P

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 finance

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 b

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 talki

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 w

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.

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

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

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