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- 942 - Hannah and Seagull: Learning Money
How do schools teach children and teenagers about money?
Learning about money is part of the curriculum but more than three-quarters of teachers say young people are leaving school without the money skills they need for adulthood.
We’re going back to school to hear from pupils at Trinity Academy Cathedral School in Wakefield who are learning about money in special classes. We’ll listen in to find out how the experts teach children about credit cards, pensions, budgeting and more.
The government says its reformed the curriculum and invested substantially over £100 million in its Maths Hubs programme.
Felicity Hannah presents alongside the broadcaster, maths teacher and University Challenge alumni Bobby Seagull. They’ll be finding out how it all works from the school’s headteacher Anna Gillinder and Stephanie Fitzgerald, Head of Young People Programmes at The Money Charity.
Presenters: Felicity Hannah and Bobby Seagull Producers: Kath Paddison and Sarah Rogers Reporters: Tamzin Kraftman Researcher: Eimear Devlin Editor: Jess Quayle
(This episode was first broadcast at 3pm on Wednesday 28th February 2024)
Wed, 27 Mar 2024 - 941 - Energy Debt and Annuities
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)
Sat, 23 Mar 2024 - 940 - Money Box Live: Co-parenting Finances
There are approximately four million children in Great Britain whose parents are separated.
When couples break up they cut their finances apart, but for parents there's that ongoing relationship that comes with supporting those children - emotionally but also financially. So how do you manage that?
Sometimes, of course, it breaks down and a parent has to ask the state to step in and make their ex pay support. We'll discuss some changes coming to how that's enforced.
And we hear from parents who are sharing care and finding ways to make the finances and the new circumstances work.
Joining Felicity Hannah is Leah Caldwell who is the Director of Mediation First and treasurer on the board of the Family Mediators Association and also Gemma Hope who is a solicitor at Family Law Partners.
Presenter: Felicity Hannah Producers: Kath Paddison and Izzy Greenfield Editor: Jess Quayle
(This episode was first broadcast at 3pm on Wednesday 21st February 2024)
Wed, 20 Mar 2024 - 939 - Probate Delays and Pension Charges
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)
Sat, 16 Mar 2024 - 938 - Money Box Live: When Can You Retire?
When do you think you'll be able to retire?
Perhaps you can't wait to pick up your last pay check or maybe you love your job so much you want to work for the rest of your life.
For those who do hope to retire, the latest research suggests we'll all need an an extra £8,000 a year for a so-called moderate retirement according to the Pensions and Lifetime Savings Association.
Meanwhile, the International Longevity Centre reckons we'll need to raise the state pension age to 71 by 2050.
On this Money Box Live we're getting to the bottom of how realistic that is and what it all means.
We'll hear from someone working well into their 70s as well as a super saver hoping to retire in her 40s!
Felicity Hannah is joined by Helen Morrisey, Head of Retirement at financial services company Hargreaves Lansdown and Dr Emily Andrews, Deputy Director for Work at the Centre for Ageing Better charity to answer your questions and comments.
Presenter: Felicity Hannah Reporter: Eimear Devlin Producer: Sarah Rogers Editor: Jess Quayle
(This episode was first broadcast at 3pm on Radio 4 on the 14th of February 2023).
Wed, 13 Mar 2024 - 937 - Citizens Advice Closure and Investment Platforms
Dozens of Citizens Advice centres are at risk of closing because local councils which support them are running out of money. That warning came this week by the senior Labour MP Clive Betts in an exclusive interview with Money Box. He is also the Chair of Parliament's select committee on Levelling Up, Housing and Communities. Dan Whitworth visits one of those citizens advice services at risk in Mansfield. The government says up to £64 billion has been made available to local authorities in England, an increase of 7.5% on the previous year which will allow local authorities to support communities and reform services to help them prepare for the future.
The cost of a comfortable retirement in Britain has jumped by nearly £6,000 to just over £43,000 a year for a single person and £59,000 for a couple. Every year the Pensions and Lifetime Savings Association publishes figures worked out by Loughborough University for the amount of money you'd need to afford certain lifestyles in retirement. How is it calculated and how can you prepare for your retirement?
And, investment platforms and providers of personal pensions, have just a few weeks left to make sure the way they treat customers' cash balances fits in with new rules called their Consumer Duty. In December the Financial Conduct Authority wrote to 42 firms after concerns that some of them were keeping some or all of the interest they earn on customers’ cash balances. And with rates of 4% or more that's meant big returns. If you invest, what might that mean for you?
Presenter: Paul Lewis Reporters: Dan Whitworth and Sandra Hardial Researcher: Jo Krasner Editor: Jess Quayle
(First broadcast 12pm Saturday 10th February 2024)
Sat, 09 Mar 2024 - 936 - Money Box Live: Are Savers Getting a Good Deal?
Are savers getting a good return on their cash?
Although times are tight, we are actually saving slightly more according to the Bank of England. In December, we collectively saved £6bn.
But, more than a trillion pounds is sitting in accounts earning around 2% interest - even though the base rate is still at 5.25% - according to analysis by Lightyear of the Bank of England's data.
And £250bn is in accounts that are paying no interest at all.
So are banks doing enough? UK finance which speaks on their behalf, says many of its members have been contacting their customers to let them know about different savings accounts that are available.
As always we've got the experts to answer your savings questions - including where to start as well as some of the many emails you've sent us about when and how to pay tax on your money.
Joining Felicity Hannah is Anna Bowes founder of savingschampion.co.uk, banking analyst Frances Coppola and Chris Gray, independent financial advisor with Forester Boyd Wealth management.
(This episode was first broadcast on Wednesday the 7th of February 2024).
Wed, 06 Mar 2024 - 935 - Bereavement Support Deadline and Warm Home Discount
Around twelve thousand unmarried parents with dependent children whose partner has died have just a few days to claim their share of an estimated £175 million in bereavement benefits. The figures came from Freedom of Information Requests to the Department for Work and Pensions. People must claim that money before Thursday 8th February. If you think you, or someone you know, may be eligible check by searching for "bereavement support payment" on the gov.uk website.
New figures show £253 billion is sitting in bank accounts which pay no interest at all. Should banks be telling us to move it?
The government is sending out the final cost of living payment for low income households this month. It's £299 straight into bank accounts. We've got all the details. And some people who got £150 off their electricity bill last year are discovering they are not entitled this year, because their home isn't hard enough to heat. We'll discuss changes to the Warm Home Discount Scheme.
Presenter: Paul Lewis Reporters: Dan Whitworth, Tamzin Kraftman, Eimear Devlin Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm Saturday 3rd February 2024)
Sat, 02 Mar 2024 - 934 - Money Box Live: How to Start a Business
Are you thinking of turning your 'side hustle' into a full time job?
Perhaps you want to take the plunge but don't know your sole trader from your limited company.
This Money Box Live is a toolkit for anyone planning to start a new business - or those who've started one but might need a helping hand.
And we have Dragons' Den star Deborah Meaden on the show to talk about what makes a good idea, the positives of running your own business as well as the pitfalls to look out for.
Following the pandemic there was a huge drop in the number of self-employed people but last year more than 100,000 people decided to go it alone and work for themselves compare to the year before - and it's the over 50's taking the lead according to the freelancer organisation IPSE.
It's also deadline day to fill out your self assessment tax return - so we'll be answering all your tax questions too.
Felicity Hannah is joined by Vicks Rodwell from the Association of Independent Professionals and the Self-Employed and Richard Jones from the Institute of Chartered Accountants in England and Wales.
Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle
(First broadcast 3pm Wednesday January 31st 2024)
Wed, 28 Feb 2024 - 933 - Fraud Victims Treasury Meeting and Funeral Scams
Campaigners for victims of pension and investment fraud met with the Treasury this week. We'll hear from the Conservative MP who is the co-chair of the All Party Parliamentary Group on Investment Fraud, Caroline Nokes, who was at that meeting.
What's the latest for working parents of two year olds planning to take advantage of the free 15 hours of childcare in term time which begins in April?
Thieves are stealing the identities of bereaved families to try and steal money from friends and relatives of the person who has died. The National Association of Funeral Directors says it has seen a spike of such frauds in the past few weeks in Northern Ireland. What do you need to look out for?
And, some new rules started this month for platforms which allow people to sell goods online. We'll clear up some confusion after listeners contacted the programme.
Presenter: Paul Lewis Reporters: Dan Whitworth and Sarah Rogers Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm Saturday 27th Jan, 2024)
Sat, 24 Feb 2024 - 932 - Money Box Live: What's going on with Energy Bills?
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)
Wed, 21 Feb 2024 - 931 - Pension Scams & HMRC and Fuel Vouchers
Some people who have been defrauded out of some or all of their pension fund are now being chased by HM Revenue & Customs for tax on money they no longer have. They were persuaded by advisers to cash in their pension and invest it in schemes that promised big returns. In fact they were often fake and some or all of their money disappeared. But HMRC is demanding tax on this missing money because they cashed in their pension too early. A campaign group based in Parliament is calling for a change in the law to protect them from what it calls the largest tax scandal in British history. In response, HMRC told Money Box “We do not tax pension savings lost to fraud. What we do tax are amounts that people release, or attempt to release, from their pensions where not authorised in law. It is our responsibility to collect the tax people legally owe and maintain a fair tax system for all. We sympathise with people who may have lost money by entering such arrangements and handle these situations on a case by case basis. We take the wellbeing of all taxpayers seriously and do everything we can for those who engage with us to get their tax affairs in order, including by offering affordable payment plans.”
As temperatures hit a new low this week one charity is nearly doubling the size of the vouchers it gives to those who can't keep warm. We'll speak to the Fuel Bank Foundation which helps people on prepayment meters manage their bills.
A record number of people will need to re-mortgage this year - are the choices getting any better?
And all you need to know about filing your self assessment form.
Presenter: Paul Lewis Reporters: Dan Whitworth and Tamzin Kraftman Researcher: Jo Krasner Editor: Jess Quayle
(First broadcast 12pm Saturday 20th January 2024)
Sat, 17 Feb 2024 - 930 - Money Box Live: Flooding and Insurance
Flooding damages property, lives and can be incredibly financially damaging as well.
There was £352 million pounds in insurance claims for damaged homes following storms Babet, Ciaran and Debi at the end of last year according to the Association of British Insurers. We don't yet know the financial fall out of January's storm Henk - the eighth named storm of the season - but as the climate changes, insurers expect even more of this kind of weather.
So what is flooding costing homeowners and businesses and what is the best advice if you've been affected?
Felicity Hannah visits a flat owner in Worcestershire and we hear from the man who spent £80,000 taking matters into his own hands.
This week we're joined by Heather Shepherd from the charity the National Flood Forum as well as Laura Hughes, Manager of General Insurance at the Association of British Insurers, which represents the industry.
Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Sara Wadeson
(This episode was first broadcast on Wednesday the 17th of January on Radio 4 at 3pm)
Wed, 14 Feb 2024 - 929 - Fake Job Offers and Pension Pots
New figures given to Money Box show there has been a big increase in the amount of money being stolen through fake text messages offering people jobs. These recruitment scams are usually sent via text or WhatsApp and offer high pay, easy hours and the chance to work from home. Last year 126 people contacted Action Fraud saying they'd been victims of this type of scam with £977,000 stolen from them. That is 50 times as much as was reported the year before. What do you need to look out for?
Storm Henk was the 8th storm of this season and more could well be on the way. As the flooding costs for insurers rise, home insurance premiums move up with them. According to the Consumer Intelligence Home Insurance Price Index they had already risen 36% by last October. We'll explain all you need to know about flood insurance.
When you pay into a pension you expect it to be there for you when you retire. We investigate one listener's case who discovered her pension company had taken all her money in charges.
And Paul Lewis asks listeners how they buy their music? Email moneybox@bbc.co.uk
Presenter: Paul Lewis Reporters: Dan Whitworth and Sandra Hardial Researcher: Jo Krasner Editor: Jess Quayle
(First broadcast 12pm Saturday 13th January, 2024)
Sat, 10 Feb 2024 - 928 - Money Box Live: The Childcare Challenge
The price of nursery can be more than a mortgage. In fact, to send a two-year-old to nursery for 50 hours a week, allowing you to work full time, can set you back more than £14,000 a year according to Coram the children's charity.
But, from April this year, working parents in England can claim 15 government funded hours for two year olds, instead of waiting for them to turn three to get help.
Applications for that support are now open - but there are concerns that not all parents will be be able to get their applications processed in time to use them. We've been investigating that, and what else is available to cut childcare costs for mums and dads.
We'll also hear from a nursery owner on the financial pressures of caring for children and talk about the costs of having school age kids.
Felicity Hannah is joined by Paul Rhodes from the Money and Pensions Service and Meghan Meek-O'Connor, senior policy adviser on child poverty at Save the Children UK.
Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle
(This episode was first broadcast on the 10th of January at 3pm on Radio 4).
Wed, 07 Feb 2024 - 927 - National Insurance Cut and Fraud Refunds
National Insurance will be cut for millions workers from today. It'll be cut from 12% to 10% - the lowest main rate for more than twenty years. The government says this cut will save an employee on average earnings around £450 a year. However, some experts including the Office for Budget Responsibility say that gain is far less than the cost of freezing personal tax allowances from 2021 while wages rose. What will it mean for you?
A new set of regulations designed to help victims of fraud should see up to 90% of them get the money stolen from them refunded by their banks. That's according to Chris Hemsley, who runs the Payment Systems Regulator. He says he hopes the change will encourage the industry to do even more to stop fraud from happening in the first place.
HM Revenue and Customs says it will only take what it calls 'priority calls' on its Self Assessment helpline ahead of the 31st January tax deadline - sending everyone else to its online services. How will that work in practice?
And what parents of small children need to do to apply for the new 15 hours of free childcare.
Presenter: Paul Lewis Reporters: Dan Whitworth, Sandra Hardial and Eimear Devlin Editor: Jess Quayle
(First broadcast 12pm Saturday 6th January 2024)
Sat, 03 Feb 2024 - 926 - Money Box Live: Financial Resolutions
It can feel like new year, new you, with so much potential for change and improvement, but then reality can kick in.
Around 1 in 3 of us will have made a financial resolution this year, but according to Hargreaves Lansdown, almost 20% of us won't even make it to the end of this week.
So how do you make them stick? Felicity Hannah is joined by behavioural & data scientist Professor Pragya Agarwal, Laura Suter, Head of Personal Finance at AJ Bell and consumer rights expert Martyn James.
Presenter: Felicity Hannah Reporter: Andrew Strachan Producer: Sarah Rogers Editor: Jess Quayle
(This episode was first broadcast on Radio 4, Wednesday the 3rd of January 2024 at 3pm)
Wed, 31 Jan 2024 - 925 - Money Box Live: Survival Guide
Are you putting down the mince pies and opening your bank statements? Well, you're in the right place as we're dedicating some time to the kinds of money topics that come up between Christmas and New Year.
Perhaps you want to know your consumer rights before hitting the sales, what to do with unwanted gifts or maybe you've spent more than you can afford this festive season? If so, then you've come to the right place.
We'll hear why for hundreds of thousands of people, their tax return has become a festive tradition.
And we'll also look ahead to Summer 2024 and how to get some holiday bargains.
Felicity Hannah is joined by, etiquette coach William Hanson, Emma Munbodh, the money news editor at The Telegraph, Anna Hall the head of money and debt operations at the Money and Pensions Service and Rob Staines an independent travel expert.
Presenter: Felicity Hannah Reporter: Luke Smithurst Producer: Sarah Rogers Editor: Jess Quayle
(This is a slightly shorter version of an episode was first broadcast on Wednesday the 27th of December 2023 at 3pm on Radio 4)
Wed, 24 Jan 2024 - 924 - Scottish Budget, Core Maths and Christmas Winners
Higher earners in Scotland are to pay more income tax from April. That was one of the headlines from the Scottish government in its budget on Tuesday. We'll discuss that change and more with Professor Mairi Spowage, director of the Fraser of Allander Institute at the University of Strathclyde.
Tens of thousands of teenagers could benefit from studying the subject of core maths once they turn 16. That's according to the charity Maths in Education and Industry. The course was launched in 2014 and currently has around 12,000 teenagers studying it in around 30 per cent of schools across England. However, the MEI says it's vital to get as many students as possible signed up.
We have our top three Christmas crackers – tips to save you money in 2024. We also revisit some of the people we've helped this year.
Plus, festive music from the City of Lincoln Band.
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm Saturday 23rd December 2023)
Sat, 20 Jan 2024 - 923 - Money Box Live: The Rising Cost of Rent
A typical rental property gets 25 enquires from people who want to view it, according to the property listings site Rightmove. That high demand also comes alongside high prices. The estate agents Hamptons says tenants have been hit with the biggest rise in rental costs in at least a decade. And it's not just tenants feeling the pinch. We look at the impact rising interest rates have had on those owning the homes people are renting.
With Felicity Hannah today to go through your questions and comments we have Richard Blanco from the National Residential Landlords Association, Jasmine Basran - Head of Policy and Campaigns and CRISIS, and Richard Donnell - Head of Research and Insight at Zoopla.
Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle
(First broadcast 3pm Wednesday 20th December, 2023)
Wed, 17 Jan 2024 - 922 - Inflation, Gift Cards and Energy Deals
The Office for National Statistics has published the first of a new quarterly set of figures designed to reflect how inflation is experienced by households. They are called the Household Costs Indices and include things like mortgage costs, interest and insurance. It showed that overall UK household costs rose by 8.2% in the 12 months to September. How does it compare to other measures and what impact could it have? Are you thinking of buying a gift card as a present for Christmas? There's a warning that people looking to use gift cards this Christmas need to be on the look out for scams and fraud.
And from 1st January the cost of heating and lighting your home and cooking your food will rise in England, Scotland, and Wales. The average increase in energy bills will be just over 5% adding £94 a year to the typical bill. As some suppliers begin offering deals to fix your costs we'll ask what should you do?
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Eimear Devlin and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm Saturday 16th December 2023)
Sat, 13 Jan 2024 - 921 - Money Box Live: Christmas Spending and Scams
This week we're tackling the cost of the festive season and looking at how to avoid scams.
The cost of Christmas is up almost a quarter over the last three years according to the The Centre for Economics and Business Research. What can you do to keep costs down?
And as figures from UK Finance, the trade body for banks, suggest nearly £100m will be stolen from around 200,000 people through fraud and scams over the Christmas period we'll discuss what you can do to avoid them.
With Felicity Hannah today to go through your questions and comments we have Sarah Pennells, consumer finance specialist at Royal London and Professor Sharon Collard, Research Director at the University of Bristol's Personal Finance Research Centre.
We'll also be hearing from Paul Askew a chef and the owner of the Art School restaurant in Liverpool and he'll be giving us some tips on how to cut the cost of Christmas Dinner.
Presenter: Felicity Hannah Producer: Sarah Rogers Reporters: Dan Whitworth and Kath Paddison Editor: Jess Quayle
(First broadcast 3pm Wednesday 13th December, 2023)
Wed, 10 Jan 2024 - 920 - Teenage Scam Ads and Mortgage Overpayments
Teenagers are being bombarded on social media with promotions for financial products they might not understand and that are usually too risky or dangerous for them to invest in. The MP Robin Walker, who chairs the Commons Education Select Committee, wants to see financial education for 16-18 year olds strengthened. The Department for Education told us "Financial literacy within citizenship is compulsory for 11-16-year-olds in the national curriculum, so young people are taught about the importance of personal budgeting, savings, money management and calculating interest.”
Figures indicate an increasing number of homeowners are making overpayments on their mortgages, to take the sting out of new interest rates. More than £21.3 billion was overpaid in the first ten months of this year - up more than 14% from the same period last year. But how much do you need to overpay, to make a difference?
The new project where people can get loans at zero interest to help with the cost of electricity, gas, and heating oil. We visit Ballyhackamore Credit Union in East Belfast to see how it works.
Presenter: Paul Lewis Reporters: Dan Whitworth, Sandra Hardial and Eimear Devlin Researcher: Jo Krasner Editor: Jess Quayle
(First broadcast 12pm, Saturday 9th Dec 2023)
Sat, 06 Jan 2024 - 919 - Money Box Live: Banking
This is a transformative time for banking. The last decade has seen an incredibly fast-paced increase in the use of technology and also a rapid decrease in the use of cash. High Street banks, where most of us have our money, have adapted. From branch closures to online accounts, we'll discuss how banking is changing.
We look back at the history of banking with Cambridge University Economic Historian Dr Victoria Batemen.
We’ll also speak to Dave Fishwick whose life story became a movie after he set up his own bank in his community.
And Felicity Hannah is joined by independent banking analyst Frances Coppola and Cat Farrow, Chief Operating Officer at Cash Access UK
Presenter: Felicity Hannah Producers: Sarah Rogers and Kath Paddison Reporter: Eimear Devlin Editor: Jess Quayle
(This programme was first broadcast on BBC Radio 4 on Wednesday the 6th of December at 3pm)
Wed, 03 Jan 2024 - 918 - Cyber-Attack Hits Home Sales and Charity Bank Accounts
Property buyers have said their home completions are being left in limbo after a company providing IT services to law firms was hit by a cyber incident. Money Box has found some of the UK's largest lenders have begun extending mortgage offers for those affected.
A national debt charity is calling on lenders to improve the way they identify customers who're getting into problem debt. StepChange says its recent research shows almost half of people with credit debt are experiencing difficulty with household bills and 1 in 6 adults are using credit to make ends meet. UK Finance which represents banks and credit card companies says lenders are committed to lending responsibly.
Charities are facing weeks or even months unable to access their own money thanks to the unexpected closures of their bank accounts. We've been getting emails about accounts being closed without people being given any reason or warning. UK Finance says banks will only take a decision to close an account after an extensive review and analysis.
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm Saturday 2nd December 2023)
Sat, 30 Dec 2023 - 917 - Money Box Live: Power of Attorney
This week on Money Box Live we're talking about Power of Attorney. What it means, who needs one and some of the pros and pitfalls.
Presenter and Strictly Come Dancing star, Angela Rippon shares her experiences with the programme and Felicity Hannah is joined by a panel of experts to answer your comments and questions.
Solicitor Gary Rycroft helps clients set up and manage the legal side of Power of Attorneys and Sandra McDonald is former Public Guardian for Scotland and author of 'Power of Attorney: All you need to know: granting, it, using it or relying on it.'
Presenter: Felicity Hannah Reporter: Luke Smithurst Producer: Sarah Rogers Editor: Jess Quayle
(This programme was first broadcast on BBC Radio 4 on Wednesday the 29th of November at 3pm).
Wed, 27 Dec 2023 - 916 - Tax Cuts, Housing Costs and Paying at the Pump
We'll take a closer look at what the Autumn Statement means for your personal finances. On Wednesday the Chancellor, Jeremy Hunt, made announcements about tax, pensions and benefits. With his top takeaways, Paul Lewis talks tax cuts and the unfreezing of the local housing allowance.
A listener went into a filling station to put just enough petrol in her car to leave her enough money to buy food for the family dinner. Then, the petrol station ringfenced the cost of a full tank and although she spent a fraction of that, the rest was not released for two days. Why did that happen and what can she do?
And the new global report from the Society of Trust and Estate Practitioners which says reports of financial abuse of vulnerable clients is increasing.
Presenter: Paul Lewis Reporters: Dan Whitworth and Sandra Hardial Researcher: Jo Krasner Editor: Jess Quayle
(First broadcast, 12noon Saturday 25th November 2023)
Sat, 23 Dec 2023 - 915 - Money Box Live: Autumn Statement Special
The Chancellor, Jeremy Hunt has opened the red briefcase once again to deliver the Autumn Statement in the Commons.
But what does it mean for you and your money?
Felicity Hannah will be looking at how today's announcements impact your personal finances - from pensions, to taxes and benefits.
Joining her to answer your questions and comments are, Alice Haine, Personal Finance Analyst at BestInvest, Dawn Register, Partner at the accountancy firm BDO and Sangita Chawla, Managing Director for Standard Life.
Presenter: Felicity Hannah Reporter: Paul Ruddick Producer: Sarah Rogers Editor: Jess Quayle
(This episode was first broadcast at 3pm, Wednesday the 22nd November, 2023).
Wed, 20 Dec 2023 - 914 - QR Code Scams and Bank Account Access
The number of reported scams involving QR codes has nearly quadrupled in less than three years according to figures seen by Money Box. The data was revealed by City of London Police and gathered from reports made to Action Fraud. The Charted Institute of Trading Standards is warning those reports are likely to be just the tip of the iceberg. We'll hear the story of one woman who was scammed after using a QR code in a car park.
The government's cost of living support payments to help people on low incomes cope with rising bills have not been enough to meet the scale of the problem. That's the warning from Parliament's Work and Pensions Committee which this week called on the government to consider widening the eligibility for future payments. The Department for Work and Pensions says the payments have provided a significant financial boost to millions of households and are just one part of the record £94 billion support package - which includes a 10.1% rise to benefits earlier this year and a more than £2 billion Household Support Fund to help with the cost of household essentials.
A young disabled man was denied access to a high interest savings account - after his parents, who have a court order to deal with his finances, tried to open the account. How common is this and what can you do? And what can you expect from the Autumn Statement?
Presenter: Paul Lewis Reporters: Joanna Morris and Jo Krasner Producer: Dan Whitworth Researcher: Sandra Hardial Editor: Jess Quayle
(First broadcast 12pm, Saturday 18th November 2023)
Sat, 16 Dec 2023 - 913 - Money Box Live: How to Save for Children
Most people would like to save for their children but it's not always straightforward. There are questions about the best accounts, about how much you can afford - and about what those children might decide to spend the money on once they hit 18!
According to Standard Life 7 out of 10 parents are worried they're not saving enough for their youngsters' futures.
Felicity Hannah is joined by Kirsty Stone, a Chartered Financial Planner at the financial adviser The Private Office and Stephanie Fitzgerald, Head of Young People Programmes at The Money Charity to answer your comments and questions.
Presenter: Felicity Hannah Producer: Sarah Rogers Reporter: Eimear Devlin Editor: Jess Quayle
(This programme was first broadcast on Wednesday the 15th of November at 3pm).
Wed, 13 Dec 2023 - 912 - Help for people in mortgage arrears and deferring your state pension.
As the number of homeowners behind on their mortgage jumps we look at a scheme in Wales trying to help people stay in their homes.
Also on the programme we speak to experts who weigh up the pros and cons of deferring your state pension and hear about the complications one woman had in getting the money she was owed.
We'll tell you if you're eligible for the winter fuel payment and, as the cost of living continues to bite, we visit a baby bank in Perth and Kinross to meet the volunteers who run it to speak to them about the increasing demand for help in providing everything from nappies to milk powder to wipes and toys.
Sat, 09 Dec 2023 - 911 - Money Box Live: Love and Money
This week we are talking all things love and money and what co-habiting, marriage and divorce mean for your finances.
Do you split the bills evenly or have a complicated spreadsheet to work out who pays what?
It comes as recent research published by the University of Bristol revealed 100,000 couples divorce in England and Wales every year - but only a third of them use the legal system to sort out their finances - the majority negotiate their own arrangements or in the worst cases, reach no settlement at all.
So, Felicity Hannah will cover everything from how to have those tricky money conversations with each other to how couples split their finances.
This week to answer your questions and comments, we're joined by Laura Suter, Head of Personal Finance at AJ Bell and Nigel Shepherd, specialist family lawyer and consultant with Mills & Reeve.
Presenter: Felicity Hannah Producers: Sarah Rogers Editor: Dan Whitworth
(This episode was first broadcast on Wednesday the 8th of November).
Wed, 06 Dec 2023 - 910 - Fraud Refunds Report and Savings Tax
For the first time we know the record of individual banks on reimbursing victims of fraud. The Payment Systems Regulator published figures this week which show, bank by bank, what proportion of the victims were reimbursed and what proportion of their money they got back.
Millions of people, some with quite modest savings, now face the prospect of paying tax on the interest those savings earn. Who does it affect and what do you need to do about it?
We'll discuss a new report from the University of Bristol about finances and divorce.
And as recent research suggests two out of three British adults have told a 'financial fib' by lying about their earnings or what something cost, we want to know your financial fibs - email moneybox@bbc.co.uk
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm, Saturday 4th November, 2023)
Sat, 02 Dec 2023 - 909 - Lancaster Live: Can You Afford Your Home?
This week the team is live at a community centre in Lancaster to look at all things housing.
It's one of the biggest financial stories of the year. Rising interest rates led to hundreds of mortgage deals being pulled earlier this year before being replaced by costlier versions. This week the Bank of England will decide where they'll go next.
Exclusive figures for Money Box have revealed a third of people with a mortgages are overdrawn or have to borrow at the end of the month, meanwhile monthly rents average £1,304 a month.
To answer your comments and questions, Felicity Hannah will be joined by Sarah Pennells, Consumer Finance Specialist at Royal London, Dr Hilary Ingham, Professor of Economics at Lancaster University and Kim Howarth, Branch Manager of Entwistle Green estate agents in Lancaster.
Presenter: Felicity Hannah Produced by: Sarah Rogers & Kath Paddison Editor: Jess Quayle
(This episode was first broadcast 3pm Wednesday the 1st of November, 2023)
Wed, 29 Nov 2023 - 908 - Loan Sharks and Car Insurance
The official body which tackles loan sharks tells Money Box that for the first time in its almost 20 year history it is seeing people turn to loan sharks to pay for essentials like food and fuel. The England Illegal Money Lending Team investigates and prosecutes loan sharks and supports those threatened by them. We report from Blackpool and visit a credit union - CLEVR Money - where people can borrow money legally and at reasonable cost.
Why some pensioners may have to pay tax next year on their state pension even if they have no other income.
A cost of living payment of £300 will drop into the bank accounts of people on means-tested benefits from Tuesday - find out who's eligible.
And what's driving a rise in the cost of car insurance?
Presenter: Paul Lewis Reporter: Sarah Rogers Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm Saturday 28th October, 2023)
Sat, 25 Nov 2023 - 907 - Money Box Live: Fighting Back Against Fraud
More than £500m was stolen by fraudsters in the first half of 2023, according to figures from UK Finance. This is less than the same period in 2022, but Authorised Push Payment (APP) scams, where people are tricked into transferring money to thieves, are on the rise.
We ask what can be done to fight back against the fraudsters, both on a personal and industry-wide level?
Joining Felicity Hannah are Ben Donaldson, Director of Economic Crime at UK Finance, TSB’s Manager of Fraud Operations, Paul Davis and Kathryn Westmore, Senior Research Fellow at the Centre for Financial Crime and Security at the Royal United Services Institute (RUSI) think tank.
Plus Dan Whitworth goes behind the scenes at TSB’s Fraud Prevention Centre in Sunderland. And we hear from case studies who’ve lost money, managed to get it back – but been left devastated by being scammed.
Presenter: Felicity Hannah Reporter: Dan Whitworth Producers: Sam Clack and Sarah Rogers Editor: Jess Quayle
(First broadcast 3pm, Wednesday 25th October, 2023)
Wed, 22 Nov 2023 - 906 - £1.6m fraud investigation and Help to Buy
We investigate the case of Kent Brushes, a hairbrush company founded in 1777, which has had £1.6m stolen by thieves. The money was transferred in 40 separate transactions, all to new payees, in less than 20 minutes. Dan Whitworth reports.
And - the difficulties facing people in England who used the government’s Help To Buy loan scheme to get on the property ladder. What advice is there for those affected?
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Jo Krasner and Sandra Hardial Editor: Jess Quayle
(First broadcast 12pm Saturday 21st October, 2023)
Sat, 18 Nov 2023 - 905 - Money Box Live: Digital Divide
Just how much does technology impact your finances?
Do you search for the best deals on your laptop or phone? Perhaps you keep track of your money through online banking.
As many as 40% of people in the UK feel they cannot keep up with newer technology according to the charity the Good Things Foundation.
And not being online can cost you money, over £1,000 a year, according to Hargreaves Lansdown.
This week we've been out to meet people learning how to take on tech for the first time and Felicity Hannah is joined by Helen Milner, CEO of Good Things Foundation and Sarah Coles, head of personal finance at Hargreaves Lansdown to answer your calls and questions.
Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle
(This episode was first broadcast 3pm on Wednesday the 18th of October, 2023)
Wed, 15 Nov 2023 - 904 - Energy debt and Pension Withdrawals
This week, the energy watchdog Ofgem released data showing energy debts reached £2.6 billion between April and June. It says the rise in debt was due to both the increase in wholesale energy prices and wider cost of living pressures. We'll get reaction to that figure from Octopus Energy, one of the UK's biggest suppliers.
More and more people are taking money out of their private pensions. Between April and June, 4 billion pounds was withdrawn from pensions by more than 500,000 people - 15% more than a year ago. What should you consider before you take money out of your pension?
And, two weeks before the deadline to get your paper tax return in, HMRC says it will take three weeks to post the form to you. What are your options if you still need to send one?
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast, 12pm Saturday 14th October, 2023)
Sat, 11 Nov 2023 - 903 - Money Box Live: Saving for Your Send Off
A lot of us like to save up for special occasions - a holiday, some home improvements - but, as we grow older, more of us think about saving for the costs that come after we die.
In fact, 69% of people make some sort of provision to help with the cost of their funeral, according to the financial services firm Sunlife.
And it's a big bill - more than £9,000 if you want a funeral and a wake or even a party afterwards.
Today on Money Box Live, we'll be talking about what kind of send off you might want from, woodland burials to tradition services as well as how to pay for it.
This week Felicity Hannah is joined by solicitor Gary Rycroft and Julian Ferguson from the Association of Green Funeral Directors.
Presenter: Felicity Hannah Producer: Sarah Rogers Researcher: Eimear Devlin Editor: Jess Quayle
(First broadcast 3pm, Wednesday 11th October, 2023)
Wed, 08 Nov 2023 - 902 - Funeral Plans and Energy Credit
A funeral plan company with more than 13,000 customers has gone bust leaving thousands of people without the plan they paid for. One Life Funeral Planning Limited was just 1 of around 40 firms which were not approved by the Financial Conduct Authority in July 2022 when it took over regulation of funeral planners. Attempts to find a regulated firm to take over its customers failed and last November its directors put it into administration. What can its customers do?
Christine Farnish, a former non-executive director at the energy regulator Ofgem, has told Money Box the amount of credit held by energy companies is a "real problem" that needs looking at. It comes after we revealed last week that suppliers held more than £8bn of customers' money in the form of credit on their accounts in the first three months of this year. Ofgem said protecting customers is its top priority and that it encourages suppliers to help customers spread the cost of winter over a full year to help them manage their bills. Previously Energy UK have told us told us at the time this £8.1bn was being held as credit prices were extremely volatile and the level of government help was unknown.
Nearly half a million new 18 year olds have not claimed hundreds even thousands of pounds waiting for them in child trust funds the govt and parents set aside for them. Check here: findctf.sharefound.org And is there a way to tell if you really are investing ethically? A new database may be a step towards that.
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast, 12pm Saturday 7th October, 2023)
Sat, 04 Nov 2023 - 901 - Money Box Live: Cutting Energy Costs this Winter
Money Box Live is looking at how to prepare for the cold nights ahead this winter following a year of high energy costs.
The Ofgem energy price cap has fallen by 7% to just over £1900. The price cap is the maximum amount your provider can charge per unit of gas and electricity. It is the amount a typical home in England, Scotland and Wales will pay a year, but if you use more, you will pay more.
Last year, there was government support to the tune of £400 to help households with rising costs. That isn't coming this year, and standing charges have gone up. It means people may end up paying more this Winter.
So, this week on Money Box Live, we're looking at how what you're doing to keep costs down as well as tips from our experts ranging from how thick your insulation should be to exactly how much it costs to put the oven on.
Matthew Cole, head of the Fuel Bank Foundation, and Madeleine Gabriel, Director of Sustainability at charity Nesta, join Felicity Hannah for this week's programme.
Presenter: Felicity Hannah Producer: Sarah Rogers Researcher: Eimear Devlin Editor: Jess Quayle
Wed, 01 Nov 2023 - 900 - Energy Credit and Bereavement Support
Energy companies are holding on to too much of their customers' money in the form of credit on their accounts. That's according to Angus MacNeil, Chair of the House of Commons Energy Security and Net Zero committee. Money Box has uncovered the total amount of credit being held in the first three months of this year was £8.1 billion. Those figures are from the regulator, Ofgem. Energy UK, which represents energy companies says suppliers are obligated to set direct debits that are, over a 12 month period, estimated to result in a balanced account. It also told us at the time this £8.1bn was being held as credit prices were extremely volatile and the level of government help was unknown. It also said it's not meaningful to compare credit and debt.
Charities say new figures obtained by Money Box show that less than 1 in 4 bereaved parents who were not married have claimed a support payment they became entitled to in February. That was when the government changed the law to give cohabiting parents equal rights with parents who were married or in a civil partnership. The Department for Work and Pensions say it's telling bereaved parents about the backdated benefit via stakeholders, charities and a targeted media and social media campaign. More information on who can claim is available at: www.childhoodbereavementnetwork.org.uk/cohabiting
What you need to know about the self-assessment tax deadline on 5th October.
And, we'll also run through the changes to energy bills coming in on 1st October.
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Luke Smithurst Editor: Jess Quayle
Energy Credit 00:00 Bereavement Support 08:43 Tax Deadline 14:49 Energy Bills 16:32
(First broadcast, 12pm Saturday 30th September, 2023)
Sat, 28 Oct 2023 - 899 - Mortgages and Part-time Work for Students
The Bank of England has held interest rates at 5.25%, ending a run of 14 consecutive increases. What does that mean for mortgages? We'll also look back one year on from the mini-budget. Hear from Clare Beardmore the Director of the Mortgage Club at Legal and General and Nimesh Shah the CEO of Blick Rothenberg.
Nearly half of our universities are now encouraging students to work part time by promoting it on their websites. The Higher Education Policy Institute, which carried out the research, has described it as a major change in the attitude of universities. Dan Whitworth reports from St. Andrews.
And what does the rates freeze mean for savers - we'll speak to Anna Bowes the founder of SavingsChampion.co.uk.
Presenter: Paul Lewis Reporters: Dan Whitworth and Sam Clack Researchers: Luke Smithurst and Jo Krasner Editor: Jess Quayle
Mortgages 00:00 Students and Part-time Work 10:26 Energy Report 18:35 Savings and Best Rates 19:29
(First broadcast 12pm, Saturday 23rd September, 2023)
Sat, 21 Oct 2023 - 898 - Money Box Live: The Battle Against Rising Bills
Inflation has dropped to 6.7% but that doesn't mean our bills will be coming down anytime soon.
The news offers a small amount of welcome relief as the dip means prices are rising slower than they have been.
But inflation is still way off the Bank of England's target of 2%.
This week on Money Box Live we're looking at how to try and lower your personal rate of inflation and cut costs.
Felicity Hannah is joined by Christopher Jenkins a Senior Inflation Statistician from the Office For National Statistics as well as personal finance journalist Martyn James and Lisa Webb from consumer group Which?
Presenter: Felicity Hannah Producer: Sarah Rogers Researcher: Luke Smithurst Editor: Jess Quayle
(First broadcast, 3pm Wednesday September 20th, 2023)
Wed, 18 Oct 2023 - 897 - Rationing to pay debts and Bank Account Closures
Exclusive data for Money Box suggest that 1 in 5 UK adults have had to ration things like heating or electricity to keep up with their debt repayments. 1 in 8 have changed the food they eat for less healthy options. The survey, carried out by debt charity StepChange, found a third of adults say they are in financial difficulties, but half would be reluctant to contact their lenders to try to sort things out. We'll speak to the CEO of StepChange Vikki Brownridge.
Listeners who run community groups battle their banks over unexplained account closures. What are your rights?
Millions of pounds of Pension Credit has been claimed by thousands of people in London who didn't know they were eligible. A recent campaign saw 8,200 older households in 17 London boroughs receive targeted letters to make them aware that they might be able to get the benefit. As a result there were more than 2,000 successful claims, worth just under £8.4 million.
Plus, Money Box journalism leads to questions being asked in parliament over an energy scheme that thousands of people missed out on.
Presenter: Paul Lewis Reporter: Dan Whitworth Researcher: Sandra Hardial Editor: Jess Quayle
(First broadcast 12pm, Saturday 16th Sept, 2023)
00:00 Rationing to pay debts 08:40 Bank Account Closures 14:44 Energy Bills 16:59 Pension Credit
Sat, 14 Oct 2023 - 896 - Money Box Live: Pensions, Actually
This week we're talking about pensions for the next generation and taking your questions and comments.
Writer and director Richard Curtis is with us to consider why green investments could be the key better engagement when it comes to young people.
Also joining us, Sophie Smith, News Editor of Pensions Age and Helen Morrisey, Head of Retirement Analysis from Hargreaves Lansdown.
Presenter: Felicity Hannah Producer: Sarah Rogers Researcher: Luke Smithurst Editor: Jess Quayle
(First broadcast, 3pm on the 13th September, 2023)
Wed, 11 Oct 2023 - 895 - Saving for Retirement and Hollywood Strikes
This week there have been warnings that millions of people aren't saving enough for retirement and calls for pension contributions to be increased. One thinktank - New Financial - released a report saying that despite the success of auto-enrolment nearly a third of the UK workforce are not saving for a pension at all. Most aren't saving enough and will have smaller pensions in future. The government says auto-enrolment means billions more is being saved into pensions.
If you are one of the millions of people who own shares directly in a UK company then you may have to give them up. There are just two weeks left to have your say about the future of how those shares are held. It's because paper share certificates are on the way out to be replaced by digital versions. We'll discuss what this means. If want to have your say email "digitisationtaskforce@hmtreasury.gov.uk".
If you're wondering where your favourite show on Netflix or Paramount has gone it might be a victim of the strikes in Hollywood where 11,000 writers and more than 150,000 actors have been on strike for the last few months. It means a large number of productions being filmed or produced in the UK have been put on hold, leaving the mainly self-employed crew members with no work and no financial support. We'll hear from those affected.
Plus Royal Mail has announced that the price of posting a letter will rise in October for the second time this year. We'll have the details on that.
Presenter: Paul Lewis Reporters: Dan Whitworth and Sarah Rogers Researcher: Sandra Hardial Editor: Jess Quayle
(First broadcast 12pm, Saturday 9th September 2023)
Sat, 07 Oct 2023 - 894 - Money Box Live: How to Handle Debt
15 million adults in the UK feel financially insecure as a result of the rising cost of living. And almost 1 in 10 say they have debt they don’t know how they will repay – that’s according to the charity Christians Against Poverty.
Felicity Hannah and a panel of experts answer your questions on everything debt related - from the cost of childcare, bankruptcy and support if you have been the victim of financial abuse.
Featuring, Alice Haine, Personal Finance Analyst at Bestinvest and Richard Lane from the debt charity StepChange.
Presenter: Felicity Hannah Producer: Sarah Rogers Researcher: Luke Smithurst Editor: Jess Quayle
(First broadcast 3pm, Wednesday 6th September, 2023)
Wed, 04 Oct 2023 - 893 - Buy Now, Pay Later and Accessible Homes
New research has found that one in five people are paying for essentials - like food and household bills - by borrowing on Buy Now, Pay Later. A report from The Money and Pensions Service says more than ten million people now use it and claims around 40% of people they surveyed were managing their repayments badly including turning to credit cards, savings or overdrafts to pay it back.
Millions of pounds could be saved every year by building more homes that are accessible to people in wheelchairs - that's the conclusion of a report by the London School of Economics and the Housing Association, Habinteg. It looked into the financial costs and benefits of building more accessible homes for people who need them. The number of wheelchair users living in unsuitable homes across the UK is estimated to be more than 400,000. Dan Whitworth visits Kenilworth to meet Georgia and her family for a tour of their partly accessible home.
The government is currently considering ways it could change pensions in the UK to drive better outcomes for savers. Part of this includes a call for evidence looking at how defined benefit schemes might be invested differently. One idea is to make it easier for private sector employers to access tens of billions of pounds of surplus funds that have built up in their pension schemes. The Department for Work and Pensions says "the direction of future policy is not yet decided.” Tom Selby from AJ Bell explores this idea.
Presenter: Paul Lewis Reporters: Dan Whitworth and Sarah Rogers Researcher: Sandra Hardial Editor: Jess Quayle
(First broadcast 12pm, Saturday 2nd September)
00:00 Introduction 00:41 Buy Now Pay Later 07:25 Accessible Homes 15:41 Self-Assessment Tax Helpline 17:02 Defined Benefit Pensions
Sat, 30 Sep 2023 - 892 - Money Box Live from Leeds: Student Finance
Felicity Hannah and the team broadcast live from Leeds University as students from England face a massive overhaul to their finances. It's the biggest change in more than a decade.
Previously, student loans were written off after 30 years, but under a new scheme called 'Plan 5' it's 40 years. Graduates will also have to start paying money back when they earn £25,000, the threshold has been lowered this year from £27,295.
So, this week we're looking at how much a really degree costs as well as taking your questions and comments.
On the programme we have money guru Martin Lewis to explain exactly what the changes mean as well as Louise Banahene, Leeds University Engagement Officer, Bethan Corner, who is the Education Officer at the Student Union, and Tom Allingham from student finance website, Save the Student.
Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle
(First broadcast, 3pm, Wednesday 27th September 2023)
Wed, 27 Sep 2023 - 891 - Surviving to Thriving? The High Street
High streets have a double challenge; they need to cope with their own rising costs and keeping hard pressed customers spending. We hear how Barnsley’s sellers are adapting to tricky times. Is anyone able to see a path through to a thriving business?
Felicity Hannah meets traders in The Glassworks, home to the town’s new redeveloped undercover market. Here she’s made a special coffee by Dave in his new café which is thriving; Katy, who’s side hustle is making candle melts to sell at the young traders monthly market & David, a butcher who’s been selling meat here for over 30 years.
The programme also talks to Dr Jackie Mulligan founder & CEO, ShopAppy.com & a member of High Streets Task Force, who explains how high street businesses are fairing across the UK.
Series Producer Smita Patel Editor Clare Fordham Studio Engineer by Rod Farquhar
Sat, 23 Sep 2023 - 890 - Surviving or Thriving? School
Schools are dealing with their own rising costs, but they are also coping with the impact of the cost-of-living on their pupils and their families. One primary school tells us how they’re facing up to the challenge. Can they thrive in tricky economic times? Felicity Hannah spends a day at school with Sally Herbert, Principal at Oasis Academy Harpur Mount, primary school in Manchester. She meets staff, parents and pupils to hear how the cost of living is impacting on their children’s education.
The Programme also talks to education expert Laura McInErney, co-founder of Teacher Tapp, to ask what does the future look like for schools.
Series Producer Smita Patel Editor Clare Fordham Studio mixed by Rod Farquhar
Sat, 16 Sep 2023 - 889 - Surviving or Thriving? Farms
Rising costs are having an impact on almost everyone, but that impact is very different for different sections of the economy. Rising food production costs are pushing up everyone’s grocery bills, and squeezing farmers’ profit margins. How are farms adapting to survive difficult times? Are any of them finding new ways to thrive?
Felicity Hannah travels to South Wales to meet two farmers, both running family businesses. Kevin and Sian, who, since covid, have diversified their 200 acre mixed farm into a profit making business. And Abi who works alongside her parents and uncle on a 700 acres mixed farm of dairy, sheep, arable, and beef has seen costs spiral but has long term financial solutions for her family business to thrive again.
The programme also talks to Minette Batters, president of the National Farmers’ Union which represents 47,000 farming businesses across England and Wales, to ask what does the future look like for farmers.
Series Producer Smita Patel Editor Clare Fordham Studio Engineer Rod Farquhar
Sat, 09 Sep 2023 - 888 - Money Box: Surviving or Thriving? Households
Rising costs are having an impact on almost everyone, but that impact is very different for different social groups. Is anyone managing to make a difference to their own budget, however small? Whether they be high earners or low income households, how are people taking control of their finances?
Felicity Hannah meets Peter who lives alone in a rented flat in Stoke and has a disability that prevents him from working; Hollie, a new mum, living with her fiancé in Wigan, who’s trying to juggle money while on maternity leave with the rising costs of having a small baby. And Kishan, one of many people being bitten by monthly mortgage rate hikes. He lives in London and has three mortgages; his own plus two buy to lets.
The programme also talks to Dr Gemma Tetlow Chief Economist at the Institute for Government to ask what does Peter, Hollie and Kishan’s experience tell us about the cost of living crisis across the nation. Are households surviving or thriving?
Series Producer Smita Patel Editor Clare Fordham Studio Engineer Rod Farquhar
Sat, 02 Sep 2023 - 887 - Money Box Live: The Mortgage Dilemma
The Bank of England is expected to raise interest rates again this week, for the fourteenth consecutive time. The increase will hike the monthly repayments for anyone on a variable rate mortgage, for those trying to re-mortgage after coming off a fixed-rate and for first time buyers with new home loans.
In this podcast we look at the dilemmas created by high borrowing rates. The experts in this podcast are Sonya Matharu, Senior Mortgage Broker at The Mortgage Mum and Tom Bill, Head of UK Residential Research at Knight Frank.
Presenter: Sam Fenwick Producer: Amber Mehmood Researcher: Luke Smithurst Editor: Jess Quayle
(First broadcast 3pm, Wednesday 2nd August, 2023)
Wed, 30 Aug 2023 - 886 - Care Homes, Consumer Duty and Stamps
Care home leaders are the latest group criticising the Government for failing to get £400 of winter fuel help to the people entitled to it. The Energy Bill Support Scheme Alternative Fund was supposed to help nearly one million households who don't pay an energy supplier directly. 20,000 households in care homes got this money, but according to new BBC Verify analysis for this programme that suggests 1 in 7 who were eligible, didn't. The government says it spent billions of pounds helping millions of households last winter with their energy bills, covering nearly half the cost of a typical household's bill.
On Monday major changes begin in the way we are sold financial products and services by regulated firms like banks, insurers, advisers. Not only will they have to stick to the 20 year old rules about treating customers fairly. They will be subject to a new Consumer Duty. What is it and what does it mean?
A scheme which offers debt advice and help with money problems through doctors’ surgeries, is being extended thanks to some new funding. We first reported on the trial two years ago. Since then the Centre for Responsible Credit which runs the scheme says hundreds of people have been helped to access hundreds of thousands of pounds in support.
Plus, from 1st August most old first and second class stamps without barcodes are no longer valid. What should you do if you still have any old stamps?
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast, 12pm Saturday 29th July, 2023)
Sat, 26 Aug 2023 - 885 - Money Box Live: Your Rental Rights
An average of 20 potential tenants request to view each available rental home, more than triple the amount in 2019, according to data commissioned by the BBC. The queue to view is even longer in some regions, reaching 30 in the North West of England, according to the property portal Rightmove.
From facing tough competition for a home to receiving a section 21 notice of eviction, we hear what renters are experiencing in the current market and we offer advice on what their rights are.
The experts on the panel are Nyree Applegarth, Partner at Higgs LLP, Tim Bannister, Director at Rightmove and Ben Beadle, Chief Executive at National Residential Landlords Association.
For tips on how to get ahead in the race to secure a rental property and information on your rights as a tenant go to the Tackling it Together section on the front page of the BBC News website.
Presenter: Felicity Hannah Producer: Amber Mehmood Reporter: Sam Gruet Researcher: Luke Smithurst Editor: Jess Quayle
(First Broadcast at 3pm, Wednesday 26th July, 2023)
Wed, 23 Aug 2023 - 884 - NHS Prescriptions and Banks Defy Customers to Stop Fraud
Sick people in England are being caught out by the complex rules which exempt some from NHS prescription charges. The Patients Association says the rules surrounding the £9.65 per item levy should be simplified. The call comes after Money Box listeners told us how they struggled to navigate the rules. The NHS Business Services Authority which runs the system told us "Patients can check they are eligible for free NHS prescriptions before claiming by using the free eligibility checker at www.nhsbsa.nhs.uk/check. It takes just three minutes".
Money Box can exclusively reveal that £55 million of fraud was prevented last year by bank and building society employees deliberately ignoring customers' instructions to transfer their money to thieves. They're allowed to do that in a branch because of what is called the banking protocol - a UK-wide law that allows staff in the branch to stop transfers and ask customers what they're doing with their money and why. We'll hear from Sophie who saved one of her customers £90,000.
And, what does this week's fall in inflation really mean for your personal finances?
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm Saturday 22nd July, 2023)
Sat, 19 Aug 2023 - 883 - Money Box Live: Can you afford to retire?
The UK government has announced a package of reforms designed to boost pensions and increase investment in British businesses. A panel of experts explore the impact of this on your pots and what it could mean for your retirement.
The experts in this podcast are Nigel Peaple, Director of Policy and Research at the Pensions and Lifetime Savings Association (PLSA) and Alice Guy, Head of Pensions and Savings at Interactive Investor.
Presenter: Adam Shaw Reporter: Luke Smithurst Producer: Amber Mehmood Editor: Jess Quayle
(First broadcast 3pm, Wednesday 19th July, 2023)
Wed, 16 Aug 2023 - 882 - Call to Reopen Energy Support Scheme
A “staggering failure” is how one senior MP has described a government scheme designed to help nearly a million households with their energy bills last winter. Former SNP and now independent MP Angus MacNeil, who's Chair of Parliament’s Energy Security and Net Zero committee, has called on the government to reopen the scheme after a Money Box investigation reported that 750,000 eligible households have not received the £400 to help with their fuel costs and can't now apply for it. The Energy Bill Support Scheme Alternative Funding was launched in February to give the £400 to people who live in park homes, on narrow boats, in care homes, and travellers who had not automatically had the £400 which was sent to households with an electricity meter. In response, a government spokesperson said: "We spent billions to protect families when prices rose over winter, covering nearly half a typical household's energy bill – this includes more than £50m supporting 130,000 households without a domestic energy supplier".
What do the government’s new proposals for pensions mean for the millions of people with money invested and how risky are the plans?
There's a warning about mortgage scams where people are being tricked into giving away personal details by phishing emails and texts.
And will government plans to reform consumer credit law strengthen or weaken our rights?
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm Saturday 15th July, 2023)
Sat, 12 Aug 2023 - 881 - Money Box Live: Your Travel Rights
Millions of people are booking their holidays right now, but with hundreds of flights already cancelled and the threat of air traffic control strikes looming, how do you fight for your rights if your travel plans get disrupted? What's the best way to manage your money overseas? And how is the cost of living impacting people's plans if you are lucky enough to be getting away?
The experts in this podcast are: Cathy Adams, Senior Content Editor (Travel) at The Times and Sunday Times, Alan Dean, Managing Director at CoverForYou and Cedar Tree, and Sean Tipton, Media Relations Manager at the Association of British Travel Agents (ABTA).
Presenter: Dan Whitworth Reporter: Sarah Rogers Researcher: Luke Smithurst Producer: Amber Mehmood Editor: Elisabeth Mahy
(First broadcast 3pm, Wednesday 12th July, 2023)
Wed, 09 Aug 2023 - 880 - Energy Bill Support and AI in Banking
New data shows more than 700,000 households across Great Britain have missed out on £300 million worth of support with their energy bills. The government said in February 900,000 households were eligible to apply for a one-off £400 payment because they did not have an energy supplier that would apply it automatically. The government said it had spent more than £50m 'supporting households without a domestic energy supplier', but this data suggests just over £300 million of the possible £360 million in Great Britain had not been claimed before the deadline.
The big high street banks have been told to be more open with their customers about savings rates - what will that mean in practice?
And could Artificial Intelligence transform how banks decide whether to lend us money?
Presenter: Paul Lewis Reporters: Dan Whitworth and Sarah Rogers Researcher: Sandra Hardial Editor: Jess Quayle
(First broadcast 12pm Saturday 8th July, 2023)
Sat, 05 Aug 2023 - 776 - Money Box Live: Making Sense of Savings
Bank bosses are being asked to explain why interest rates on savings aren't keeping up with the rising cost of borrowing.
The heads of Lloyds, HSBC, NatWest and Barclays banks will meet the Financial Conduct Authority (FCA) on Thursday.
Chancellor Jeremy Hunt has already stepped in to tell banks to put up rates for savers.
At the moment the Bank of England base rate is 5 per cent, following last months 13th consecutive rise.
UK Finance who speak for banks say "savings rates are driven by a number of factors," not just the base rate.
Laura Suter, head of Personal Finance at AJ Bell and Kirsty Stone, Chartered Financial Planner at The Private Office, are here to help make sense of your savings.
Presenter: Adam Shaw Producer: Sarah Rogers Editor: Jess Quayle
(First broadcast 3pm, Wednesday 5th July, 2023)
Wed, 02 Aug 2023 - 775 - Saving Rates and Pension Helpline Problems
The Chancellor Jeremy Hunt has stepped in to tell banks to put up the rates paid to savers after the Bank of England raised the official Bank Rate to 5%. Many mortgage rates went up at once and more have been increased this week, but the rates paid on savings by the banks have not followed them. The gap between the two has almost doubled from December 2021. We hear from Gillian who runs a business in Bromsgrove and ask how banks make decisions on savings rates.
More than two million calls to a helpline for people wanting to boost their state pension have been blocked by the Department for Work and Pensions. The Minister in charge of what is called the Future Pension Centre, Laura Trott, has admitted that in the first five months of the year more than two million calls were cut off without even being allowed to join the call waiting queue.
A new energy price cap comes into effect today. This will see households pay an average of 2,074 pounds a year. This is lower than the level at which government subsidies kept bills but still 800 pounds more than two years ago. We'll also look at how smart meter data is being used to research fuel poverty.
Presenter: Paul Lewis Reporters: Dan Whitworth and Felicity Hannah Researcher: Sandra Hardial Editor: Jess Quayle
(First broadcast 12pm, Saturday 1st July, 2023)
Sat, 29 Jul 2023 - 774 - Money Box Live: Finance for the under 30s
Amidst a cost of living crisis, almost 9 in 10 young adults say that simply having enough money to cover their basic needs is classed as aspirational, according to a survey by the children's charity Barnardo's. We hear about some of the financial pressures burdening young people - from renting, to food costs and car expenses.
In this podcast, BBC Newsbeat's Cost of Living Reporter, Sam Gruet, joins Felicity Hannah and Alice Haine, Personal Finance Analyst at Bestinvest.
Presenter: Felicity Hannah Producer: Amber Mehmood and Sarah Rogers Reporter: Sam Gruet (Newsbeat Cost of Living Reporter) Editor: Beatrice Pickup
(First broadcast 3pm, Wednesday 28th June, 2023)
Wed, 26 Jul 2023 - 773 - Rising Mortgage Costs and Young People's Finances
Rising interest rates are putting pressure on those homeowners with variable mortgages, or with fixed terms due to end this year. The Chancellor Jeremy Hunt has met with the big banks to discuss the forbearance options lenders can offer to customers in difficulty. We discuss the long term financial implications of options such as payment deferrals, extending the length of the mortgage or switching to interest only with Sarah Coles, Head of Personal Finance at Hargreaves Lansdown.
The children's charity Barnardos is concerned about the impact of rising living costs on young people aged 18-25. The charity worked with the Co-op to survey 2,500 people in that age bracket. Almost 9 in 10 responded that having enough money to cover basic needs was considered 'aspirational', and more than half had worried about whether they could afford things in the last six months. We speak to a 20 year old care leaver about their relationship with money.
And what should you do to protect large sums of money from fraud? We've been contacted by listeners in the process of buying and selling a house, wondering where to keep large sums safe until they're ready to make their purchase. Reporter Dan Whitworth has the answers.
Presenter: Felicity Hannah Reporter: Dan Whitworth Researcher: Sandra Hardial Editor: Beatrice Pickup
Sat, 22 Jul 2023 - 772 - Money Box Live: Mortgage Affordability
The average interest rate charged by mortgage lenders is now much higher than many homeowners have been used to.
So what can those struggling to make repayments do - and what if any help should lenders provide?
The experts in this podcast are Charles Roe, Director of Mortgages at UK Finance, Andrew Wishart, Senior Economist at Capital Economist and Rita Kohli, Managing Director at The Mortgage Stop.
Presenter: Felicity Hannah Producer: Amber Mehmood Editor: Beatrice Pickup
(First broadcast 3pm, Wednesday 21st June, 2023)
Wed, 19 Jul 2023 - 771 - HMRC Helpline Closure and Insurance Costs
On June 12th, HMRC closed its self assessment tax helpline - a helpline that last summer people tried to call over a million times. Instead, it's directing people who want advice or who need help with their online self assessments to its digital services. HMRC says this is a pilot for a new seasonal model and that it will reopen in September. It says the plan will free up staff time to deal with urgent queries. The decision has prompted criticism from tax groups who say that the closure is extremely disappointing, that it's ill thought out and that its a clear indication that HMRC can't cope with demand. Angela McDonald the Deputy CEO and Second Permanent Secretary at HMRC speaks to Felicity Hannah live.
MPs have questioned insurances bosses over high premiums. The Treasury Committee called executives in to answer questions about potential profiteering during the cost of living crisis. Dan Whitworth reports on that hearing.
More on plans to make sure banks give innocent victims of push payment fraud the refunds that they are supposed to.
And what do you need to think about when it comes to money and travel abroad? From currency to travel and health insurance, not to mention mobile phone roaming charges, there are lots of ways to make sure you're not losing out or paying over the odds.
Presenter: Felicity Hannah Reporter: Dan Whitworth Researchers: Eimear Devlin and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm, Saturday 17th June, 2023)
Sun, 16 Jul 2023 - 770 - Money Box Live: How to protect your data
A prolific cyber crime gang has stolen personal data belonging to more than 100,000 employees. It's a mass hack which has impacted organisations globally.
In the hands of criminals, your personal data can be used to make cloned credit cards, buy phone plans, falsely claim government benefits and even take out a mortgage, for which you can become liable. In this podcast, we discuss how you can try and prevent this from happening and what you can do if you are a victim.
The experts on the panel are Sarah Lyons, from the National Cyber Security Centre and Matt Cooke, Cyber Security Strategist at Proofpoint - which helps protect businesses and employees online.
Presenter: Adam Shaw Producer: Amber Mehmood and Clare Worden Editor: Jess Quayle
(First broadcast 3pm Wednesday 14th June, 2023)
Wed, 12 Jul 2023 - 769 - Child Trust Funds and Data Breaches
Changes to how families of disabled children can access UK government-backed trust funds have been announced. Currently, parents and carers of 18-year-olds who lack mental capacity have to apply to the Court of Protection to access the money. The Ministry of Justice says claims will now be dealt with in eight weeks - rather than six months. We'll hear from Mike Freer the Minister for Courts and Legal Services and from a campaigner who says the changes don't go far enough.
Hundreds of thousands of people have had their personal information stolen by hackers. We'll ask what you can do now to stay safe.
We'll discuss a new report calling for banks and other financial institutions to do more to improve services for people with hearing difficulties. The report is from the Lending Standards Board which is calling for greater inclusion. UK Finance, which represents the banking and finance sectors, told us it's committed to supporting customers and do offer extra support including British Sign Language translations in branches, longer appointments and quiet rooms.
Help To Save, a savings scheme for people on low incomes, has been extended. We've got the details.
Presenter: Felicity Hannah Team: Dan Whitworth, Sandra Hardial, Jo Krasner Editor: Jess Quayle
(First broadcast 12pm, Saturday 10th June, 2023)
Sat, 08 Jul 2023 - 768 - Money Box Live: The Cost of Owning a House
House prices have fallen by 1% compared with a year ago – the first drop since 2012 (Halifax) and as inflation remains high, lenders are increasing the cost of mortgage borrowing.
But what do these changes in the housing market mean for anyone who dreams of owning their own home, for people trying to move up the ladder or those thinking about equity release?
The experts in this podcast are Tim Bannister, Director of Property Science at Rightmove and Clare Beardmore, Director of Mortgages at Legal & General.
Presenter: Dan Whitworth Producer: Amber Mehmood Editor: Sara Wadeson
(First broadcast 3pm, Wednesday 7th June, 2023)
Wed, 05 Jul 2023 - 767 - Mortgages, Tax Free Childcare and Funeral plans
Mortgages are back in the headlines this week, with the news that hundreds of deals are being pulled from the market. Since the start of last week, the total number of mortgage products on the market has fallen by 11.3% according to new figures from Money Facts. We'll discuss this with Sonya Matharu, Senior Mortgage Broker with The Mortgage Mum.
There are calls to simplify and reform the tax free childcare system. The charity Coram says many families don't even know they are eligible because the system is so difficult to manage. HMRC says Tax-Free Childcare is quick and easy to claim and that it can be a real boost to the household budget of working families. Adding that families can choose the financial support that best suits their needs. It recommends that parents use the Childcare Choices website (https://www.childcarechoices.gov.uk/) to find the right childcare offer for them.
We'll discuss what the latest updates are for funeral plan holders with companies which have gone out of business - following a major shake up of the industry. We'll speak to one of the providers which has taken on customers of failed firms and to James Daley from Fairer Finance.
And the listener who manages his mum's finances but was told he couldn't switch her to a more competitive savings account.
Presenter: Felicity Hannah Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm, Saturday 3rd June, 2023)
Sat, 01 Jul 2023 - 766 - Money Box Live: Investing
The Financial Conduct Authority is concerned that young people in particular are turning to bloggers and influencers for investing advice - without fully understanding the risks. Scammers are also using social media platforms like Instagram, Facebook, YouTube and TikTok to target people, as the cost of living pushes people to look for high return investments.
In this podcast, we discuss what red flags to watch out for and how easy it can be to end up parted from your money.
The experts on the panel are Giles Mason, Director of Campaigns at UK Finance, Laura Suter, Head of Personal Finance at AJ Bell and Sharon Davies, CEO of Young Enterprise.
Presenter: Ruth Alexander Producer: Amber Mehmood Reporter: Sandra Hardial Editor: Elisabeth Mahy
If you have been affected by the issues covered in this podcast, visit BBC Action Line for advice or support: https://www.bbc.co.uk/programmes/articles/375cB1pZ3FwFRQMh9zLxZhb/information-and-support-fraud
(First broadcast 3pm, Wednesday 21st May 2023)
Wed, 28 Jun 2023 - 765 - Buy Now Pay Later and Mortgage Prisoners
The Chief Executive of the Association of British Credit Unions has told Money Box his members are seeing more people applying for borrowing who already have multiple buy now, pay later loans. We'll hear from a young woman who got into debt that way and get a response from the industry.
Mortgage costs will go up again this week. That's going to put the squeeze on many households but it's especially bad news for the tens of thousands of people who are trapped paying unaffordable mortgages. We'll speak to Martin Lewis, who's campaigning for change, and get a response from the Treasury.
The Financial Conduct Authority is concerned that younger investors are using social media platforms for investing advice - without fully understanding the risks and how much money they might lose. We'll speak to their Director of Consumer Investments, hear from some young people and from the platforms themselves.
Presenter: Felicity Hannah Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm, Saturday 27th May 2023)
Sat, 24 Jun 2023 - 764 - Money Box Live: Being Widowed
When your spouse dies your world changes, from admin to organising a funeral, new widows are hit with a slew of tasks amid dealing with grief.
As well as those challenges, losing a husband, wife or partner can mean significant changes to your finances.
In this podcast we discuss what the death of your partner can mean for your money. What challenges are there and where can you find help and support.
The experts on the panel are, Emma Gray, Ambassador at WAY Widowed & Young and Jane Hodges, Chartered Financial Planner at Money Honey Financial Planning.
Presenter: Felicity Hannah Producer: Amber Mehmood Editor: Jess Quayle
(First broadcast 3pm Wednesday 24th May, 2023)
Wed, 21 Jun 2023 - 763 - Mobile Phone Scams and Scottish Widows
Criminals are targeting victims more effectively and exploiting banking apps on phones to steal thousands of pounds. That's the warning from one of the UK's most senior fraud officers, Detective Superintendent John Roch, who runs the Economic Crime Unit for London's Metropolitan Police. He's been speaking exclusively to Money Box - and you can hear that interview in full.
The Financial Conduct Authority has told this programme it has been speaking to Scottish Widows about concerns over the company's poor customer service. For the past year Money Box has been investigating complaints about the insurance and pensions firm. Customers have been contacting us to say they have faced lengthy delays when they have tried to get hold of their money. We'll hear from some of those listeners and get a response from Scottish Widows which says its overall service levels are getting back to normal as it continues to work hard behind the scenes. It says it has significantly increased the number of colleagues answering calls and dealing with customer requests.
Long-awaited plans to shake up the private rented sector in England were finally released this week. The Renters’ Reform Bill includes some very significant changes, including abolishing section 21 or so-called "no-fault" evictions and preventing landlords from banning tenants who claim benefits or have children. We'll discuss what this means for renters' rights.
And war widows who were forced to forfeit their pensions will receive a lump sum payment after a long running campaign. How will it work and who's eligible?
Presenter: Felicity Hannah Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm, Saturday 20th May 2023)
Sat, 17 Jun 2023 - 762 - Money Box Live: Fighting Fraud
The UK is the fraud capital of the world with hundreds of thousands of victims and billions of pounds stolen every year.
Every minute of 2022, thieves stole £2300 from bank and credit card accounts. They took a total of 1.2 billion from nearly 3 million people. In this podcast, we discuss these figures by the banking trade body, UK Finance, and we speak to victims of fraud about the impact it’s had on them and the steps you can take to protect yourself.
On the panel are experts Kathryn Westmore, Senior Research Fellow at the Centre of Financial Crime and Security at RUSI, and Andy Donald, Director of Communications at UK Finance.
We'll also hear from an ex-fraudster about how criminals manipulate their victims intro transferring thousands of pounds.
Presenter: Dan Whitworth Producer: Amber Mehmood Reporter: Sarah Rogers Editor: Jess Quayle
(First broadcast, 3pm Wednesday 17th May, 2023)
Wed, 14 Jun 2023 - 761 - Fraud and Food Prices
The banking trade body UK Finance says that every minute of 2022 thieves stole £2,300 from bank and credit card accounts. In total they took £1.2 billion from nearly 3 million people. These figures were released this week in its Annual Fraud Report. We'll discuss the figures and get reaction from Arun Chauhan, a solicitor at Tenet Law, who specialises in fraud and financial crime.
There were new warnings about inflation this week. The Bank of England said that headline rate would soon fall, though not quite so much as it had predicted earlier this year. The Chief Economist at the Office for National Statistics answers your questions and talks about the new ONS comparison tool where you can check prices.
As HMRC stops sending paper tax returns out to under 70s – what does this mean for the 3 million over 55s who don’t have a digital presence?
And how to make sure you get a new Cost of Living payment if you're entitled to it.
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Eimear Devlin and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm, Saturday 13th May 2023)
Sat, 10 Jun 2023 - 760 - Money Box Live: Making Sense of Mortgages
The Bank of England is expected to hike interest rates for the 12th month in a row this week and deposit-free mortgages are back after a 15-year-long absence from the market that stretches back to the financial crisis. We find out how they’ll really work, who can benefit from them and what interest rates mean for you whether you’re a renter, homeowner or prospective new buyer.
The experts in this podcast are, Nick Mendes, Mortgage Technical Manager at John Charcol, Charles Roe, Director of Mortgages at UK Finance and Rachel Springall, Finance Expert at Money Facts.
Presenter: Felicity Hannah Producer: Amber Mehmood Editor: Jess Quayle
(First broadcast 3pm, Wednesday 10th May, 2023)
Wed, 07 Jun 2023 - 759 - Money Box Live: The King's Cash
To mark the Coronation of King Charles III our presenter Adam Shaw gets exclusive access to the Royal Mint to witness how new £2 commemorative coins are produced and to see its extensive archives. In this programme, we discuss how different monarchs have affected our money and what the future might hold for the physical cash that we carry in our pockets. To help explore the Crown and our currency, Adam is joined be a panel of experts, Dominic Chorney, an Ancient Coin Specialist at Baldwin's, Catherine Schenk, Professor of Economic and Social History at the University of Oxford and Jennifer Adam, Curator at the Bank of England Museum.
Presenter: Adam Shaw Producer: Amber Mehmood Researcher: Jo Krasner Editor: Jess Quayle
(First broadcast 3pm, Wednesday 3rd May, 2023)
Wed, 31 May 2023 - 758 - Pensions and the Coronation
The prospects for many current employees hoping for a comfortable retirement looks "risky at best". That's the warning from the Institute for Fiscal Studies, which has started a major review of pensions together with Financial Fairness Trust, a charity funded by the investment firm Abrdn. We'll speak to the IFS and answer your questions on pensions.
The listener who had to remortgage but was turned down because he had a Ukrainian family living in part of his home.
Are you going to Europe this summer? If so, have you got your GHIC card which can give you cheap or free medical care in some countries? We'll explain how it works.
And next Saturday is the Coronation of Charles III. He and his wife, Camilla will be crowned King and Queen of the United Kingdom and 14 other Commonwealth countries. It is nearly 70 years since the last coronation in June 1953 when Charles's mother was crowned Queen Elizabeth II but what has changed in our personal finance since then? Paul Lewis speaks to Dr. Duncan Needham, Director of the Centre of Financial History at Cambridge University.
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Justin Bones
(First broadcast, 12noon Saturday 29th April, 2023)
Sat, 27 May 2023 - 757 - Money Box Live: Small Businesses
Small businesses represent as much as 99% of UK companies, according to government figures. They employ about half of the workforce and often contribute a vital service to local communities. The small business sector has been facing significant challenges - higher inflation, more expensive business loans and uncertain markets. In this podcast, we look at both the challenges and the opportunities for small businesses.
The experts on the panel are:
Charlotte Thomason, Head of Policy and Government Relations at Enterprise Nation, an organisation which helps advise small businesses on how to set-up and grow. Andy Chamberlain, Director of Policy at IPSE - The Association of Independent Professionals and the Self-Employed. Adnan Sajjad, an accountant specialising in helping small businesses.
Presenter: Adam Shaw Producer: Amber Mehmood Researcher: Catherine Lund Editor: Beatrice Pickup
Wed, 24 May 2023 - 756 - Self Employment and Scam Texts
This week, the Office for National Statistics employment data showed that one reason behind the increase in the number of people in work is the growth in self-employment. Though the total numbers are still below pre-pandemic levels, more people are now starting a new business. We'll hear from four entrepreneurs about their experiences and have some advice for anyone thinking about doing so.
Money Box has learned more than 1,100 people have reported having had a total of £1.3m stolen from them in the last year by criminals using so called "hi mum" or "hi dad" scam messages. The figures from Action Fraud peaked in the run up to Christmas but the scam is still very active with hundreds of thousands of pounds being stolen in the first three months of this year alone. What should you look out for?
We often talk about the cost of living and the effect of rising inflation on lower income households, but this week there is new evidence of how it is hitting people earning between £40,000 and £80,000. We'll hear from Royal London whose research found over a third of people had gone overdrawn or borrowed in other ways - some even taking out expensive payday loans.
And a new report suggests tens of millions of pounds belonging to about 80,000 young people without mental capacity to make financial decisions could be locked in trust funds. What does that mean for families and what is the government's response?
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast 12noon Saturday 22nd April, 2023)
Sat, 20 May 2023 - 755 - Money Box Live: Babies and Toddlers
Raising children is expensive. It’s estimated that it costs over £200,000 to raise a child from birth to 18 in the UK.
In this podcast we hear from parents about how they're managing these costs from new-born baby necessities to nursery fees.
The experts on the panel are, Anna Stevenson, Senior Welfare Benefits Specialist at the Charity Turn2Us, and Tara Spence, the CEO of Homestart Suffolk, a community network of trained volunteers that helps families with young children.
Presenter: Felicity Hannah Producer: Amber Mehmood Researcher: Catherine Lund Editor: Jess Quayle
(First broadcast, 3pm Wednesday 19th April, 2023)
Wed, 17 May 2023 - 754 - Healthy Start and Digital Memories
It's estimated that more than 200 thousand low income parents --in England, Wales and Northern Ireland -- are missing out on government assistance to help them buy food for their children. The Healthy Start Scheme offers money for milk, fruit and vegetables - but uptake is well below the government's target. In response Department of Health says uptake is increasing and it's committed to promoting a healthy diet for children.
The high-cost lender Amigo has said it will halt all lending and wind down its business after failing to raise extra funds from investors. What does this mean for thousands of who’ve applied for compensation believing they were mis-sold loans?
State benefits and pensions paid to tens of millions of people went up this week by 10.1% - almost the current rate of inflation. When can you expect your increased payment?
And what you should do to protect your digital memories after you’ve died?
Presenter: Paul Lewis Reporter: Sarah Rogers Researcher: Sandra Hardial Editor: Jess Quayle
(First broadcast, 12pm Saturday 15th April, 2023)
Sat, 13 May 2023 - 753 - Money Box Live: Learning Disability and Neurodiversity
Trying to understand interest rates, credit card changes and mortgage deals is an effort for most of us, so how do you manage if you have a learning disability?
Dan Pepper, a former Paralympian joins presenter, Ruth Alexander, to talk about how he manages his money, and what challenges he faces.
We'll also be talking about how ADHD and other neuro differences can affect your personal finances.
On hand to answer listener questions: Tony Lloyd, CEO of the ADHD Foundation, The Neurodiversity Charity, and Phillipa Gould, Financial Advocacy Manager at Dosh, a not-for-profit organisation.
Presenter: Ruth Alexander Producer: Amber Mehmood Editor: Jess Quayle
(First broadcast 3pm Wednesday 12th April, 2023)
Wed, 10 May 2023 - 752 - How to grow an entrepreneur
What are your children up to this weekend? Many will be busy eating chocolate eggs and enjoying their Easter break from school.
Some youngsters are out there running businesses, balancing their books and even turning a profit. In this Money Box Easter special, we meet some of those remarkable kids and ask how we can help children learn entrepreneurial skills - and whether they should be? Featuring: Precisa, Max and Louis Plus, Julian Hall, CEO of Ultra Education, and Zoe Bennet, Managing Director at Training Personified.
Presenter: Felicity Hannah Editor: Jess Quayle
(First broadcast 12pm, Saturday 8th April 2023)
Sat, 06 May 2023 - 751 - Money Box Live: New Financial Year
From 6th April, there's set to be a host of financial changes. From household bills, changes to pensions, national insurance and help for energy bills. Almost every household will be affected in some way.
We breakdown the main things that you need to know and put your questions to a panel of experts - Helen Thornley, from The Association of Tax Technicians and Sam Richardson, Deputy Editor at Which? Money Magazine.
Presenter: Dan Whitworth Producer: Amber Mehmood Reporter: Hannah Mullane Editor: Jess Quayle
(First broadcast 3pm, Wednesday 5th April, 2023)
Wed, 03 May 2023 - 750 - Your Household Bills: Lincoln Live
In this special extended programme broadcast live from Lincoln, the Money Box team covers all you need to know as the financial year comes to an end and a new one begins. For many household bills are going up, from broadband costs and water bills to council tax - but what can you do if you're struggling? The team are joined by organisations who're supporting people every day, to find out what help is out there.
We're in Skegness to find out how local people and businesses are coping with energy costs.
We'll discuss what tax changes are coming in from April, and what allowances you're entitled to. Plus we'll mark 50 years since the introduction of VAT - Value Added Tax.
Don't miss music from the City of Lincoln Band and a special introduction from the Official Town Crier of Lincoln City too.
Presenter: Felicity Hannah Reporter: Dan Whitworth Researcher: Sandra Hardial Editor: Jess Quayle
(First broadcast 1130am on Saturday 1st April, 2023)
Sat, 29 Apr 2023 - 749 - Money Box Live: Rental Health Special
Felicity Hannah and Winifred Robinson take questions on the legal rights of renters with experts Jasmine Basran from the housing and homelessness charity Crisis and Tessa Shepperson founder of the The Landlord Law Services she advises landlords of their legal rights and responsibilities.
The number of people renting across England, Wales and Scotland has more than doubled in the last decade.
The picture in Northern Ireland is similar with the numbers of people renting is up by nearly 2 thirds in the last 20 years.
Producer: Catherine Lund Studio Manager: Mitch Goodall Editor: Clare Worden
Wed, 26 Apr 2023 - 748 - Rental Health: Housing benefits frozen as rents rise
Felicity Hannah starts a week of BBC coverage on the theme of Rental Health. For Money Box she examines the 3 year freeze in Local Housing Allowance (the portion of Universal Credit designed to cover housing) is leaving some on low incomes struggling to afford rental properties.
Also on this episode as NatWest become the latest bank to impose restrictions on how much their customers can spend on crypto platforms and exchanges we ask if it’s ever a good idea to invest in this area.
And we'll have advice for you if you've lost money through a push payment scam.
Presenter: Felicity Hannah Reporter: Dan Whitworth Researcher: Sandra Hardial Editor: Clare Worden
Sat, 22 Apr 2023 - 747 - Money Box Live: First-Time Buyers
In this podcast we hear from prospective and recent first-time buyers about the challenges, opportunities and top tips on taking the first steps into the housing market.
The experts on the panel are, Ray Boulger, Senior Mortgage Technical Manager at John Charcol and Aneisha Beveridge, Head of Research at the estate and letting agents, Hamptons.
Presenter: Adam Shaw Producer: Amber Mehmood Editor: Clare Worden
Wed, 19 Apr 2023 - 746 - Romance scam refund and prepayment meter penalty
A Money Box investigation has resulted in a £150,000 refund for a vulnerable romance fraud victim, after their bank initially refused to reimburse. The victim's family were told that a voluntary code, known as the Contingent Reimbursement Model or CRM, designed to protect victims of fraud would not apply in their case, because the payments had been made to an international bank account. We look at what, if anything, banks can do to prevent payments to criminal accounts overseas.
In the Spring Budget the Chancellor promised to end the so-called prepayment meter penalty, where customers currently pay an extra £45 compared to direct debit customers. We look at how the new policy will work, and if it's feasible to level the playing field between pre-payment meter customers and direct debit customers long term. And where does this leave customers who pay by cash or cheque?
The Department for Levelling Up, Housing and Communities has announced another extension to the Help to Buy Equity loan scheme. For many buyers this extension came at the last possible moment, the previous deadline was the 31st March and some stood to lose their sales. Other buyers had already received their deposits back and won't benefit from the two-month extension. We hear from a buyer and a conveyancing solicitor.
Presenter: Dan Whitworth Reporter: Aruna Iyengar and Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Beatrice Pickup
Sat, 15 Apr 2023 - 745 - Money Box Live: Budget Day Special
In this podcast we breakdown what was in the Spring 2023 budget and how the chancellor’s announcements impact your finances.
The experts on the panel are:
Laura Suter, Head of Personal Finance at AJ Bell Dawn Register, Head of Tax Dispute Resolution at BDO Matt Copeland, Head of Policy and Public Affairs at National Energy Action Subrahmanian Krishnan Harihara, Head of Research at the Greater Manchester Chamber of Commerce
Presenter: Felicity Hannah Producer: Amber Mehmood Editor: Beatrice Pickup
Wed, 12 Apr 2023 - 744 - HMRC National Insurance deadline extended
Felicity Hannah hears how HMRC have extended the National Insurance top up deadline after a surge in calls plus a listener asks if a drop in house prices means they should worry about negative equity?
Presenter: Felicity Hannah Editor: Clare Worden Reporter: Dan Whitworth Researcher: Eimear Devlin Studio Manager: Olivia Miceli
Sat, 08 Apr 2023 - 743 - Money Box Live: Cost of Food
Grocery prices have increased by 17.1% in the four weeks to 19th February, meaning it’s at the highest level they’ve ever been recorded. This could mean households see over £800 extra on their annual food shop (Kantar).
With grocery inflation being the second most important financial issue for the public, behind energy costs, we speak to shopper’s about how their household budgets are being affected.
The experts on the panel are, Kris Hamer, Director of Insights at the British Retail Consortium, Sabine Goodwin, Coordinator at the Independent Food Aid Network and Lisa Webb, consumer expert at Which.
Presenter: Dan Whitworth Producer: Amber Mehmood Editor: Clare Worden
Wed, 05 Apr 2023 - 742 - Rising Rents and Energy Bills
The BBC understands that the Chancellor, Jeremy Hunt, is expected to extend the Energy Price Guarantee at current levels for a further three months- but what does that mean for your energy bills?
One of the UK's biggest flat share websites has told Money Box that rents are rising very fast: up almost 13% last year. In January 2022, the average UK monthly rent listed on SpareRoom was just over £650. By January this year it had risen to almost £750 pounds a month. We'll hear from them and also speak to a renter and landlord.
And, as food inflation rises, we'll also look at what kind of impact that's having on household finances? Dan Whitworth speaks to supermarket shoppers in Halifax.
Presenter: Felicity Hannah Reporters: Dan Whitworth and Star MacFarlane Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm Saturday 4th March, 2023)
Sat, 01 Apr 2023 - 741 - Money Box Live: Working Over 50
The Chancellor, Jeremy Hunt, is expected to introduce measures in his March Budget to encourage people who have retired early to return to work in-order to help revive the economy.
In this podcast, we speak to people who are retired, people who are over 50 and looking for a new job, and some who are continuing to work after 70. With them, we identify what the barriers are keeping them out of work, and what the incentives are to keep them in the workforce.
The experts on the panel are, Kim Chaplain, specialist advisor for work at the Centre for Ageing Better, and Adrian Adair, chief operating officer at Morson Group.
Presenter: Felicity Hannah Producer: Amber Mehmood Researcher: Dan Bater Editor: Jess Quayle
(First broadcast 3pm Wednesday 1st March, 2023)
Wed, 29 Mar 2023 - 740 - Over 50s Workers and Faulty Prepayment Meters
The Chancellor, Jeremy Hunt, is expected to use his Budget on March 15th to introduce measures to to encourage people over 50 to return to work. Since 2019 there has been a rise in the number of people defined as economically inactive. That means they are not working, self-employed, or looking for work to claim benefits. The number rose by 830,000 between 2019 and 2022, with three quarters of that increase among those aged 50 and over. The Department for Work and Pensions has a programme to encourage people over 50 back into work by offering help with health support, pension planning and flexible working opportunities. Clare Worden visits Shrewsbury Job Centre to find out more.
Some energy customers are being left for months with faulty prepayment meters. Several people have told Money Box that although their electricity has not been disconnected the screens showing their credit has been blank since Christmas and they cannot top up, so they have no idea how much electricity they're using or what it is costing them. The law says suppliers should take 'appropriate action' within hours - arranging to fix or replace the meter. Or at the least to arrange an appointment. We'll get reaction from their suppliers and talk to Matt Cole from the Fuel Bank Foundation.
And where should you put your money to make the most out of it? We'll talk savings with Anna Bowes from Savings Champion.
Presenter: Paul Lewis Reporter: Clare Worden Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle
(First broadcast 12pm, Saturday 25th February, 2023)
Sat, 25 Mar 2023
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