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Georgie Frost

This Is Money: Should we gift every newborn £1,000 to invest?

Georgie Frost
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This is Money

This Is Money: Should we gift every newborn £1,000 to invest?
Every child could receive a pot of £1,000 at birth to be channelled into long-term investments in UK growth under proposals to give the young a leg up and revive a ‘stagnant’ economy. The idea of a ‘New Generation Trust’ is part of a package of reforms that could add £225billion to the economy, says a report by the City of London Corporation. A £1,000 payment to all newborn children would need to be invested - and it is claimed this could provide long-term capital for UK PLC. It revives memories of the Child Trust Fund scheme launched by Gordon Brown two decades ago, and later scrapped by George Osborne – and that hasn’t exactly been a roaring success. Lee Boyce, Simon Lambert and Georgie Frost discuss the merits of the idea – and why whether this happens or not parents should start building a pot for children as early as possible. It’s been another exciting week for savings – Santander has a new best buy easy-access deal, Moneybox has launched a top cash Isa and First Direct is offering five prizes of £12,500 for those who switch current account – including a £175 bonus for doing so. Bank of England Governor Andrew Bailey has been speaking in front of MPs at the Treasury Select Committee about base rate – are we close to the peak? House prices saw their biggest slump since 2009 according to Halifax, with the average home falls £14,000 in a year – chiming with similar data from Nationwide. And finally, electric cars are slumping in value – many models have lost 30% or more in a year. Is now the time to buy, and what on earth is going on?

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Georgie Frost

This Is Money: Are you on track for a comfy retirement and do you really need a £600k pot?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Are you on track for a comfy retirement and do you really need a £600k pot?
Inflation has been ravaging our finances, but it is also threatening our future. According to new research, if you want a comfortable retirement, you need to build a pot of nearly £600,000. The rising cost of living requires an extra £4,200 a year to maintain the same lifestyle as in spring last year - which means you have to save another £69,000 in all. Tanya Jefferies, Georgie Frost, Lee Boyce and Helen Crane delve into pensions, as separate research shows more than half of people saving into one believe they will never put away enough to stop working when they get older. What can you do? Tanya reveals how to invest your pension and live off it in retirement. One thing that isn’t going to help your retirement funds is forking out to help your kids get on the property ladder. But that is exactly what is happening at the moment and in huge numbers. Financial aid is expected to support almost half of all homes purchased by buyers under the age of 55 this year - totalling £8.1billion. Is tapping into the Bank of Mum and Dad fair? People who spent big sums on state pension top-ups are angry their cash has gone missing and they can't get answers out of HMRC or the Department for Work and Pensions – Tanya gives an important update. Lee runs the rule over the new 6.2% one-year fixed-rate from National Savings and Investments, alongside four savings trends gleaned from a new Bank of England report. Helen reveals the four pressures landlords are facing as more of them opt to sell up. And lastly, are you suffering from dogflation, catflation or any kind of petflation? And how can you bite back?

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Georgie Frost

This Is Money: Where would YOU put money for five years?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Where would YOU put money for five years?
Many people may be feeling in a state of financial flux at the moment and wondering where to put their money, and it's not an easy choice. Savings rates have improved, gold is holding steady, but property prices are slipping and stocks are sticky. That's just some of the myriad of options Britons are contemplating right now, alongside other areas such as overpaying the mortgage or saving for retirement. So, where would you put your money for the next five years? That’s the question the This is Money team put to the experts – and our readers – with a mixed response. Georgie Frost, Simon Lambert and Lee Boyce reveal what they told us, the results of a reader poll and how they’re grappling with these big financial decisions. Could unloved and cheap investment trusts be the answer? Simon runs the rule. Premium Bonds have been boosted again – Lee reveals why they are giving them a headache. And NS&I have boosted its green savings deal to 5.7%: is it a good deal now? Elsewhere, Ofgem has announced the new energy price cap for October 2023 will be £1,923. What does it mean for households – and why are many still facing higher bills this wint regardless? Loyal listeners may might remember predictions from a chap called Fred Harrison a few years ago, for a housing market crash in 2026: the British author and economic commentator identified the 18-year property cycle and believes it can accurately predict the next house price crash. But have today's inflation and high mortgage rates thrown the cycle off track? And property prices have become less expensive relative to average earnings, according to new data – but there’s a sting in the tail: higher mortgage rates mean homes are now LESS affordable. Finally, would you pay £25 million for a car?

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Georgie Frost

This Is Money: Have we turned the corner on high inflation or it could it bounce back?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Have we turned the corner on high inflation or it could it bounce back?
Inflation falling, wages rising, mortgage rates fall back a bit and fixed savings rates seem to be peaking at 6% - all without a recession (yet)! Is the oasis in sight, or is this a mirage? Georgie Frost, Simon Lambert and Helen Crane review the prospects looking forward. Also, Rishi Sunak vows to keep the 'triple lock' on pensions, but can we afford it?
Guest:

Helen Crane


Published:
Georgie Frost

This Is Money: Mortgage mayhem has stalled but what happens next?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Mortgage mayhem has stalled but what happens next?
After months of mortgage mayhem some better news finally arrived this week with major lenders delivering a slew of hefty rate cuts. Halifax, Nationwide, and NatWest have all delivered big chops to their home loans, with analysts saying that we may be past the moment of peak panic in the mortgage market. That’s the silver lining to a very dark cloud though, as mortgage rates are far higher than they have been in recent years and almost all of those whose fixes come up for renewal will face paying much more. So if this is the end of Mortgage Mayhem Part 2 (the uncalled for sequel to Liz Truss and Kwasi Kwarteng’s original instalment), what happens next? Georgie Frost, Helen Crane and Simon Lambert survey the wreckage of the past few months and look at what could come next for mortgage rates and homeowners? With higher rates here for the foreseeable future, they also discuss what this means for people’s finances and how mortgage hikes are likely to eat most people’s pay rises and then some. Simon explains why after such a long period of stagnant real wages, this is a major problem. In cheerier news, Premium Bonds have had another big bump up in the prize rate, so are they now a no-brainer? (For those listening to the podcast and looking for it, here is the link to our Premium Bonds winning stats piece Simon mentions: https://www.thisismoney.co.uk/money/saving/article-12161769/Premium-Bonds-likely-win-1m.html). Plus, what is the tale of good customer service that Simon has returned from holiday with? And finally — how did Helen go viral with an old carrier bag?

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Georgie Frost

This Is Money: Taxman customer service troubles unmasked and probate problems in the spotlight

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Taxman customer service troubles unmasked and probate problems in the spotlight
Join the latest episode from Georgie Frost, Lee Boyce, Tanya Jefferies and guest Angharad Carrick: business owners experience difficulties with HMRC service — the challenge of being an executor — interest rates rise again, but is it the right call? Plus, the team discuss fake lawns.
Guest:

Angharad Carrick


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Georgie Frost

This Is Money: Energy firms rapped for bad customer service... while still making mega profits

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Energy firms rapped for bad customer service... while still making mega profits
Energy firms have had their feet held to the fire this week. The industry as a whole has been blasted by the regulator Ofgem over poor customer service, while our investigation revealed that 200 customers don't think Ovo has been billing them properly. Meanwhile, British Gas has been in the spotlight for its bumper profits, which jumped by a whopping 889 per cent for the first half of this year. These firms are certainly making plenty of money - so should they be spending more of it to help their customers? Lee Boyce, Helen Crane and Georgie Frost ask why things are going so wrong, and what people can do if they don't think they are being billed correctly. We also look at what's going on with bank accounts. Crisis-hit Natwest is winning the switching battle thanks to its tasty cash incentives, and it’s not just Farage being 'de-banked'. We hear the story of one vulnerable couple who were left unable to pay bills and buy food after HSBC closed their account. Inheritance tax has also been in the news, as there are noises it might be scrapped - but the Treasury are raking in even more money from it. Will it go? Finally, we explain what blended families need to know about making a will - after one woman was forced to bid for her late mother's belongings at auction when her stepfather amended their mirror wills after she had died.
Guest:

Helen Crane


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Georgie Frost

This Is Money: Inflation eases to 7.9% - what does that mean for mortgage and savings rates?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Inflation eases to 7.9% - what does that mean for mortgage and savings rates?
Earlier in the week, the consumer prices index measure of inflation fell by more than expected thanks to a fall in transport and food prices. It eased to 7.9% in June, a bigger drop than expected, according to the Office for National Statistics. This was the lowest CPI rate since March 2022 when inflationary pressures began to amplify the headline figure. So what does that mean for the typical household and for potential future base rate rises? Lee Boyce, Sam Barker and Georgie Frost delve into CPI and what that means for mortgages and savers. And on the note of savers, two pieces of data this week point to a mixed picture for our financial resilience. On one hand, a survey suggests one in three people do not have enough savings for an emergency - and on the other, that a third of savers are earning 1% or less, and for some that's on five figure pots. If inflation does stay sticky, pensioners could see a big rise in in the state pension - if politicians keep the 'triple lock' pledge. Data suggests that by 2030, the annual state pension figure is likely to be between £13,000 and £14,000. Before you head off on holiday, we reveal the cruel new scams you need to know about. And… bitcoin to surge to $120,000 by the end of 2024 according to one major bank. How likely is that and why does one expert think it's nonsense.
Guest:

Sam Barker


Published:
Georgie Frost

This Is Money: Do you really want your pension invested in risky unlisted companies?

Georgie Frost
Original Broadcast:

This is Money

This Is Money: Do you really want your pension invested in risky unlisted companies?
Chancellor Jeremy Hunt is looking for more risk to be taken in pensions - is this right? And should they not first sort out the estimated ten million errors in state pension records? Meanwhile one million people will be paying an additional £5,000 per annum on mortgage payments: could the Bank of England have done more? And finally - would Britain be safer if only women were allowed to drive?

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Georgie Frost

This Is Money: How investors can back AI - Simon Lambert speaks to Sam North

Georgie Frost
Original Broadcast:

This is Money

This Is Money: How investors can back AI - Simon Lambert speaks to Sam North
Artificial intelligence has burst into the headlines over the past year and generated excitement among investors. But as with any exciting new technology that has generated a lot of hype, there will be pitfalls for investors along the way. If you want to invest in the AI revolution, what other companies could benefit and what do you need to consider. This is Money's Simon Lambert speaks to eToro’s Sam North to find out more.
Guest:

Sam North


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