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Genre: Personal Finance / Topic: Savings
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Georgie Frost

This Is Money: What does it take to win the Premium Bonds - and is it worth you trying?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: What does it take to win the Premium Bonds - and is it worth you trying?
How much do you need in Premium Bonds to win the jackpot? And if you haven’t maxed them out to the full £50,000, is it even worth bothering? This is Money has run some in-depth analysis on all the £1 million prizes over the past four years and this week revealed how much those lucky people held. Georgie Frost, Lee Boyce and Simon Lambert look at what it takes to win the Premium Bonds. Simon gives us his tax manifesto to get us out of the mess Britain’s tax system is in. Plus, one of our readers is in their mid-40s, would like to semi-retire to work on their own terms, travel and enjoy life in a decade, and wants to know if their £180,000 investments can grow enough to achieve that. What does someone with those ambitions need to consider? The team take a look. Should you consider buying a cheap electric car? Prospective buyers are worried about batteries but get over that and Simon says it could prove even cheaper to run than you think. And finally, the new King Charles notes are out but what are the serial numbers to check your wallet for which could make them worth big money?

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Georgie Frost

This Is Money: The mystery of the stolen Nectar Points - and the loyalty card price sting

Georgie Frost
Original Broadcast:

This is Money

This Is Money: The mystery of the stolen Nectar Points - and the loyalty card price sting
Supermarket loyalty schemes have become even more of a big thing in recent years as the two giants Tesco and Sainsbury's have rolled out Clubcard and Nectar Prices. But while cards bring lower prices, the points collected still mean prizes for some loyalty scheme fans. So, what happens if a fraudster steals your points? This is Money's Angharad Carrick recently went on the trail of some stolen Nectar points and uncovered a story that delivered as many questions as it did answers. Ang, Georgie Frost and Simon Lambert discuss the mystery of the stolen Nectar Points and how our reader got short shrift from Sainsbury's, Action Fraud and the police when they had £230 nicked. Plus, are these loyalty cards any good and worth having anyway and why is the competition watchdog investigating them? Also — many more people are taking mortgages than run past state pension age but with work and retirement blurring and changing does this matter? Simon explains why he thinks it does but for another reason. Would you buy fake cash for a knockdown price off social media? It sounds daft, but this is a genuine thing — we look at how it is happening. And should a reader who is still working at age 77, worth £2.6million and doesn't want a big inheritance tax bill start giving money away — and splashing out on themselves and their family?
Guest:

Angharad Carrick


Published:
Gavin Oldham

Thought for the Week: Action required for Default CTF Pay-out

Gavin Oldham
Original Broadcast:

Thought for the Week

Thought for the Week: Action required for Default CTF Pay-out
The core of the problem with unclaimed, adult-owned Child Trust Funds (of which there are over £2 billion waiting to be claimed) is with accounts opened by HMRC. That's why The Share Foundation has proposed a 'default withdrawal at 21' process, based on the young person's National Insurance number. Danny Kruger MP took part in the CTF conference in Westminster on Tuesday 5th March, and two weeks later in a Westminster Hall CTF debate, and supported this initiative which could release £1/4 billion each year to help these young and predominantly low-income young adults. Background music: 'Waiting' by Andrew Langdon

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Georgie Frost

This Is Money: State pension boosted by 8.5% from this week - will it ever become means tested?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: State pension boosted by 8.5% from this week - will it ever become means tested?
Older people received another boost to the state pension this week taking the full rate to over £11,000 a year. This year's increase of 8.5% was thanks to the triple lock commitment - a guarantee the state pension will rise each year by the higher of CPI, wages or 2.5%. What does the future hold? While there is plenty of speculation the state pension may become means tested, in reality it could be incredibly hard to implement. Tanya Jefferies, Georgie Frost, Helen Crane and Lee Boyce talk state pensions – and how they compare to other countries. And sticking on the theme, there is another delay for the Government’s new online state pension top-up service. When will it launch? NS&I has a four-day IT meltdown that makes it a struggle for customers to log-in – and it suggests to one that she may have a ‘time drift.’ What does this bizarre explanation mean? Crane is on the Case once more, this time Eon is in the firing line after it insisted a part-time dance teacher used £95,000 worth of energy … in a month. And who on earth would hold an American Express card in their wallet with an APR 704.6%? Lee has the answer.
Guests:

Tanya Jefferies, Helen Crane


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Gavin Oldham

Thought for the Week: Putting Dormant Assets to Work

Gavin Oldham
Original Broadcast:

Thought for the Week

Thought for the Week: Putting Dormant Assets to Work
Just in the United Kingdom alone, it has been estimated that there is £200 billion lying unclaimed as dormant assets. Better analysis is needed, more use should be made of search facilities by families — but the money needs to be put to work, prioritising inter-generational rebalancing. The Dormant Assets Act 2022 is a major step forward by Government, and the Reclaim Fund will enable its provisions to be put into practice. This will become an increasingly important contribution to empowering disadvantaged young people as the birth rate falls. Background music: 'Sea of Ancestry' by Jesse Gallagher.

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Georgie Frost

This Is Money: Beware fixed-rate savings trap, and secrets from an ISA millionaire

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Beware fixed-rate savings trap, and secrets from an ISA millionaire
There's a warning for savers who's fixed term deals are coming to an end - don't take your eye off the ball now or risk having your returns wiped out in a matter of months. A year ago, there was a flurry of savers choosing fixed-rate bonds as they improved drastically. But if you don't act, the chances are it'll rollover into an awful rate. Helen Crane, Lee Boyce and Georgie Frost talk savings, just as we head into a new financial year. Also on the savings front, NS&I reveals the rate of the new British Savings Bond - is it worth it? And an ISA millionaire reveals all to This is Money on how he built up a seven-figure pot. Helen tackles another reader problem – this time, it's a case of the unwanted and unneeded SIM card costing a pensioner couple hundreds of pounds. And on the utilities front, Lee reveals how Ofcom saved him from a 75% rise in his monthly broadband costs, and why you should check if you're out of contract with your mobile phone. Mortgage approvals are up - but house prices nudge lower. What's going on? Meanwhile, research shows a record third of all homes are being bought by first time buyers – and they make up 89% of buyers in one Berkshire town. Lastly, entrepreneur Tim Armoo runs the rule over five money-making fads doing the rounds on social media – are any of them worth your time?
Guest:

Helen Crane


Published:
Georgie Frost

This Is Money: Will the Bank of England cut rates as soon as people think?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Will the Bank of England cut rates as soon as people think?
The Bank of England held interest rates again this week as inflation dropped once more. So, are we out of the woods yet? Will inflation keep coming back down towards target and the Bank of England soon seamlessly switch back to cutting rates? Or will central bankers be keen to hold onto higher rates, even if we get hit by a bout of disinflation? Georgie Frost, Lee Boyce and Simon Lambert look at what next for inflation and interest rates and what it means for your money. Also, should the Waspi women who saw their state pension age rise rapidly be compensated for the poor communication and how much of a victory was this week’s Parliamentary Ombudsman Waspi report a victory for them? As that happened, more news emerged on underpaid state pensions – as exposed by our Tanya Jefferies and pension columnist Sir Steve Webb, and the team update us on that. Plus, what’s going on with the chaos at HMRC and who is to blame for the failure to keep up with our increasingly tricky tax system. And finally, meet the Scambaiters – we find out what they do and why.

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Georgie Frost

This Is Money: Tale of the state pension underpaid for 20 YEARS

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Tale of the state pension underpaid for 20 YEARS
The debacle over widespread errors in the state pension that This is Money and Sir Steve Webb uncovered, continues. As of the end of October last year, DWP had paid out just under half a billion pounds to more than 80,000 people who’ve been underpaid. But what about those who have died? Tanya Jefferies, Lee Boyce, Angharad Carrick and Georgie Frost reveal the case where a letter was sent to the daughter of an 100 year-old man three years after he passed away, stating he had been unpaid state pension for two decades. Yet, despite the letter – months later, she was left hanging on what the DWP was actually going to do about it. And still on the state pension front, people continue to complain of top-ups chaos as the Government gets ready to launch a new online service next month. Sir Steve is calling on DWP and HMRC to get in more staff. You don’t need HMRC to have more staff to answer your call, oh no! You just need to be a VIP. Apparently there is a helpline, also known as Public Department 1 (PD1) which answers calls nine times quicker. We explain more. On the savings front, the FCA is launching a campaign to encourage savers to shop around – and if you rushed to sign up for a one-year fixed-rate cash Isa this time in 2023, Lee explains why you must act. Optional and mandatory service charges at hospitality venues – Georgie, Ang and Lee give their verdict. And finally, the price of bitcoin jumped beyond $60,000 this week. What’s behind the latest cryptocurrency surge?
Guests:

Angharad Carrick, Tanya Jefferies


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Georgie Frost

This Is Money: Why has Britain fallen behind on getting richer?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Why has Britain fallen behind on getting richer?
Britain's disposable income has dropped substantially over the past 14 years compared to where it should be, according to a new report this week. The Centre for Cities said that the average household's disposable income has fallen £10,000 behind where it would have been if pre-2010 growth rates had been maintained. On average we have got better off, but we are well below what would have been expected. Georgie Frost, Lee Boyce and Simon Lambert look at what the problems could be, why aren't we getting richer quicker, why are we falling behind our international peers and what can be done. Plus, while our living standards aren't rapidly accelerating, house prices have and the average seller made more than £100,000 last year - are property inflation and the slowing in disposable income growth linked? Simon, thinks it's part of the problem. Savings rates have started to slip, so do dividend-paying investment trusts yielding 5% or more look like an attractive move? And finally, some tips on how to make the most of Avios points - but who on the team is the Avios winner, and who is the self-described Avios loser?

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Gavin Oldham

Thought for the Week: The £2 Billion Challenge

Gavin Oldham
Original Broadcast:

Thought for the Week

Thought for the Week: The £2 Billion Challenge
The UK sub-postmasters' scandal is not just an issue for politicians: it deeply questions the quality and integrity of corporate governance, auditors and the legal profession: for example, surely The Law Society should have monitored the quantum of convictions and cried 'wolf'? The huge quantum of unclaimed adult-owned Child Trust Funds is a similar massive injustice for young people from disadvantaged and low-income backgrounds. Politicians, account providers and regulators need to take urgent action to tackle the £2 billion challenge: however, The Share Foundation is crying 'wolf' in this case — but will people listen? Background music: 'Missing Persons' by Jeremy Blake

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