689 episodes

The pandemic has forced everyone to reexamine their finances, whether it’s dealing with a pay cut, how to best use cash from staying home, managing the ups and downs of investment markets or using this time to make a career change. Whatever the question, Financial Times consumer editor Claer Barrett knows where to find the right tips for your money. Every week, Claer talks to a listener about their money queries and consults her rolodex of financial advisors, planners and writers for no-nonsense and informed guidance that will help all of us feel more confident making our money work. Produced by Josh de la Mare. The sound engineer is Breen Turner and the editor is Aimee Keane. Music by Metaphor Music.

Money Clinic with Claer Barrett Financial Times

    • Investing
    • 4.2 • 279 Ratings

The pandemic has forced everyone to reexamine their finances, whether it’s dealing with a pay cut, how to best use cash from staying home, managing the ups and downs of investment markets or using this time to make a career change. Whatever the question, Financial Times consumer editor Claer Barrett knows where to find the right tips for your money. Every week, Claer talks to a listener about their money queries and consults her rolodex of financial advisors, planners and writers for no-nonsense and informed guidance that will help all of us feel more confident making our money work. Produced by Josh de la Mare. The sound engineer is Breen Turner and the editor is Aimee Keane. Music by Metaphor Music.

    The finances of moving in together

    The finances of moving in together

    Since they moved in together at the start of the UK lockdown in March, Marijke and Danny’s relationship has gone from strength to strength. Marijke owns the flat they both live in — but Danny has recently come into an inheritance and wants to finance building an extension to their home. How can the cohabiting couple structure this arrangement in a way that will be fair to both of them if they later split up? Presenter Claer Barrett seeks guidance from experts, Michael Gouriet, partner in the family law team at Withers, the legal firm, and Angela Marson, chartered financial planner at Fairstone, the financial advisory business.
    If you would like to talk to Claer for a future episode, please email the Money Clinic team at money@ft.com with a short description of your dilemma, and how you would like us to help. Follow Claer on Twitter and Instagram @Claerb and read her weekly Serious Money column in the FT Money section of the FT Weekend newspaper.
    Further reading:
    -Our guests on this episode were shocked to find out that cohabitation is such a ‘grey area’ of the law in England and Wales.
    -This FT Money article by Lucy Warwick-Ching — Is my boyfriend entitled to a share of my flat if we split? — covers many of the legal options couples like Marijke and Danny could consider.
    -Of course, talking about money is a big issue for many couples. This FT column by Claer — Six ways to manage money and not fall out with your partner — is packed with practical tips and is currently free to read.
    -Michael Gouriet, the legal expert featured on this podcast, has also made a more in-depth podcast series with his firm Withers focusing on the issues arising from cohabitation agreements.
    Finally, this column by the FT’s economics correspondent Delphine Strauss — Unmarried couples in the UK pay the price of an outdated system — looks at repeated attempts to reform the laws concerning the rights of cohabiting couples.
     
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    • 22 min
    Can a second career save my retirement?

    Can a second career save my retirement?

    For 61-year old Margaret, and millions of other women, being able to retire with a pension has become an unaffordable dream. She has relied on working as a supply teacher to pay the bills. But she says employers don’t want to hire older workers. After many unsuccessful job applications, Margaret has gone back to university to study creative writing and to seek a new career. Lindsay Cook, the FT’s Money Mentor columnist, suggests how women in Margaret’s situation can maximise their retirement income, and Stuart Lewis, the founder of over-50s online community Rest Less, has plenty of tips for older jobseekers.


    If you would like to talk to Claer for a future episode, please email the Money Clinic team at money@ft.com with a short description of your dilemma, and how you would like us to help. Follow Claer on Twitter and Instagram @Claerb and read her weekly Serious Money column in the FT Money section of the FT Weekend newspaper.


    Further reading:
    -The experts had plenty of practical tips for UK listeners looking to get on top of their retirement planning.
    -To track down lost pensions, Lindsay Cook suggested that Margaret uses the government’s Pensions Tracing Service, which is free to use. As we said on the show, please be careful of copycat websites run by commercial firms.
    -You can also check how many years’ worth of State Pension contributions you’ve made, and what you could receive in retirement
    -Looking for a job in your 50s and 60s can be a very challenging and lonely experience, as Margaret has found. Rest Less is an online community and recruitment website for older workers which is packed with all kinds of tips and advice. Membership is free, and has trebled since the start of lockdown.
    -Claer’s latest FT column is full of practical advice for job seekers, drawing on a live video Q&A with Jonathan Black, the FT’s “Dear Jonathan’ columnist and director of the careers service at Oxford University. This contains useful suggestions of how to reach out to contacts for help finding your next position, and the strange theory of why wearing smart shoes in Zoom interviews could boost your performance — even though your feet are out of shot!
    -Finally, if you’re considering going back to university in later life, you may be concerned about student loans. In the UK, these operate more like a graduate tax than a conventional loan, as this free to read column by Claer explains.
     
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    • 23 min
    A young entrepreneur's story

    A young entrepreneur's story

    29-year-old jewellery designer Roseanna Croft is having her mettle tested by the pandemic. Wedding cancellations have dented her sales, and now the second UK lockdown threatens Christmas trading. As a limited company director, she has restricted access to government support and must rely on her own efforts to redesign her business plan. Claer finds creative inspiration for Roseanna from Suli Breaks, the entrepreneur, poet and presenter of the 7even Figures Business Podcast, and financial tips from Andy Chamberlain, head of policy at IPSE (the Association of Independent Professionals and the Self Employed).


    Further reading:
    -Claer has written extensively about issues facing small business owners during the pandemic, and the problems of accessing government support schemes. Her recent FT column Help for the self-employed won’t save everyone is free to read 
    -Suli presents the 7even Figures podcast, where he interviews an entrepreneur who has set up a business from scratch, finding out how they grew their passion into a million pound company
    -Watch Suli in action on his website and follow him on Twitter @SuliBreaks
    -Andy Chamberlain is head of policy at IPSE, and tweets @AndyChamberlain
    -The IPSE website has a hub full of advice and information for the self employed and limited company directors detailing the help available during the pandemic
    -You can follow Claer on Twitter and Instagram @Claerb 
     
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    • 21 min
    Should I buy a shared ownership property?

    Should I buy a shared ownership property?

    Lucy is on the cusp of buying a shared ownership flat with her partner — but she’s getting cold feet. The shared ownership model enables buyers to take out a mortgage on part of the property, and pay rent on the rest. However, Lucy is worried this could be more expensive than she bargained for, and fears she will never be able to afford to own 100 per cent of her new home. Claer hears from independent property expert Henry Pryor and mortgage broker Andrew Montlake from Coreco. 


    Further reading:
    -Henry Pryor tweets @HenryPryor and has a website packed with tips for property buyers.
    -Andrew Montlake tweets @Montysblog and blogs about the mortgage market (which is genuinely more interesting that it sounds!) Read it here.
    -Claer’s recent column in FT Money tackled the pitfalls of shared ownership properties, the government’s Help to Buy scheme and a mad-sounding new idea to let young people borrow from their pensions to get on the property ladder.
    -This Millennial Money column from Kate Beioley, the FT’s legal correspondent, reveals how being single made it practically impossible for her to pursue the shared ownership route. 


    You can follow Claer on Twitter and Instagram @Claerb
     
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    • 18 min
    Can ESG investing really change the world?

    Can ESG investing really change the world?

    Claer Barrett chats to Harri about the challenges of building an ethical investment portfolio. The 29-year old is saving £1,000 a month into his retirement fund, and has noticed a growing array of ESG options (a label applied to investments that address environment, social and governance considerations). Are they genuinely doing good — or have they just done a good job on their marketing? And does investing ethically mean he has to sacrifice some investment returns? Experts Gillian Tett and Moira O’Neill offer their tips.


    If you would like to talk to Claer for a future episode, please email the Money Clinic team at money@ft.com with a short description of your dilemma, and how you would like us to help. Follow Claer on Twitter and Instagram @Claerb and read her weekly Serious Money column in the FT Money section of the FT Weekend newspaper.


    Further reading:
    --Gillian Tett chairs the FT’s editorial board, and set up Moral Money, the FT’s online hub for all things ESG. Read the latest stories and sign up for the twice-weekly newsletter at FT.com/moralmoney (the newsletter is currently free for the first 30 days). You can follow Gillian on Twitter: @GillianTett.
    --Moira O’Neill is an investment columnist in FT Money, and the head of personal finance at Interactive Investor. Read Moira’s latest column about why it’s a myth that only the “young and woke” are interested in ESG investment at ft.com/goodmoneyweek. You can follow Moira on Twitter: @MoiraONeill.
    --The dilemmas of ESG investors are explored in a forthcoming book by Alice Ross, the FT’s deputy news editor. You can read an extract from Investing to Save the Planet via this link ft.com/investingtosavetheplanet and it will be published by Penguin Books in November 2020.
     
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    • 24 min
    Should I pay off my credit cards or buy a house?

    Should I pay off my credit cards or buy a house?

    Claer Barrett chats to Josh, a high-earner living in New Jersey who has large credit card bills to settle. The 30-something finance worker has spent $20,000 paying for holidays and unexpected bills on his interest-free cards, but his wife is unaware of how much he now owes. Under lockdown, the couple have impressively managed to save more than $27,000. His wife wants to use their savings towards a deposit on a house, but should Josh come clean and pay off some of his card debt? Experts Robert Armstrong and Sara Williams (aka the Debt Camel) offer their tips.


    If you would like to talk to Claer for a future episode, please email the Money Clinic team at money@ft.com with a short description of your problem, and how you would like us to help. Follow Claer on Twitter and Instagram @Claerb. 


    Further reading:
    --Sara Williams writes the independent Debt Camel blog, offering no-nonsense advice for people who want to get out of debt. Covering debt problems and debt solutions, she has won praise for answering common questions about debt without jargon, and has been a debt adviser in the UK for more than 15 years.
    --Robert Armstrong, the FT’s US Finance editor, recently bought a house in Brooklyn, and is already regretting his purchase, as he explains in this column: Was buying a Brooklyn townhouse just before lockdown the worst trade of my life?
    --He has also explored the topic of mounting consumer debt in this FT video: Will Covid-19 light the fuse on a debt bomb?
    --If, like Josh, you find it difficult to talk openly to your partner about your finances, check out Claer’s column, Six ways to manage money - and not fall out with your partner (which is free to read).
    --Last year, Claer spent a day inside one of the UK’s biggest debt helplines and spoke to advisers about how people of all income levels can and do suffer from debt problems — and heard practical tips on what to do about it. 
     
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    • 25 min

Customer Reviews

4.2 out of 5
279 Ratings

279 Ratings

# alone at xmas ,

Retirement

Heartfelt episode I do think that is mature ones are left behind cast away and indeed forgotten. But this episode was so gentle and encouraging
Being able to listen , be understood, is important. Now more so than any other time in history . What taking place with jobless events is crushing the sense of hope
Fear is palpable and then you giving her a hand at the end was a moment I felt wow Something is changed for her and to me has I listened.
I wish someone would give me and others a hand up None should feel forgotten I wonder and yes worry about what lays ahead
Maybe right now all we can is is survive each day and just hope someone will help us all out of this I have no confidence in this government help us

110andyg ,

Money Clinic

Excellent iresource. Claer is outstanding

15263748 ,

Accessible

Unlike some financial/money related podcasts, this is very accessible and gives great practical advice and caters for all ages. Only discovered it recently but now it’s a weekly listen...

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