22 episodes

Confused about your finances? The penny drops podcast is here to help you understand your money and make better informed financial decisions. Presenter and Broadcast Journalist Andrea Fox will be grilling financial experts on your behalf to get the best tips on topics such as savings, pensions, budgeting, debt and retirement. This podcast series is brought to you by Royal London, the UK’s largest mutual life, pensions and investment company.

The penny drops thepennydrops

    • Education
    • 4.9 • 32 Ratings

Confused about your finances? The penny drops podcast is here to help you understand your money and make better informed financial decisions. Presenter and Broadcast Journalist Andrea Fox will be grilling financial experts on your behalf to get the best tips on topics such as savings, pensions, budgeting, debt and retirement. This podcast series is brought to you by Royal London, the UK’s largest mutual life, pensions and investment company.

    Why it’s time to think differently about our finances

    Why it’s time to think differently about our finances

    For most of us, when we think about finance, we might consider what products we need or how to save for that big purchase. But in this month’s episode Andrea Fox speaks to Royal London’s Sarah Pennells, a personal finance expert and broadcaster, about why it’s time to think differently about our finances and what we want from them. We explore how we can both save for the future and invest responsibly, helping us to build financial resilience as well as a better and more sustainable world to live in.  


    How can you find more information?

    Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website.

    You can also find lots of helpful information on some of the topics discussed in this episode on the following sites:


    Responsible investing


    Royal London: royallondon.com/mutuality/together-for-good

    Royal London: royallondon.com/about-us/members/understanding-your-finances/how-we-manage-your-money/what-is-responsible-investing

    Money Advice Service: moneyadviceservice.org.uk/en/articles/ethical-saving-and-investing


    Climate change and net zero


    United Nations, Race To Zero: https://unfccc.int/climate-action/race-to-zero-campaign

     

    The Institutional Investors Group on Climate Change: iigcc.org

    Climate Action 100+: climateaction100.org


    Pensions


    Pension Wise: pensionwise.gov.uk

    The Pensions Advisory Service: pensionsadvisoryservice.org.uk


    Case studies


    Royal London: royallondon.com/pensions/investment-options/investing-responsibly/case-studies


    This episode was recorded in June 2021 during the coronavirus outbreak. For the latest information on financial support and benefits, visit gov.uk/coronavirus.


    Please note that all topics discussed in this episode can vary depending on your personal circumstances. Any figures quoted were accurate at the time of recording.

    • 37 min
    PRIDE month and LGBT+ finances

    PRIDE month and LGBT+ finances

    For many countries around the world, June marks PRIDE month. In this episode we find out why PRIDE month and the events associated with it are still so important and touching on some of the financial issues and barriers faced by the LGBT+ community.


    How can you find more information?

    Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website.

    You can also find lots of helpful information on the following sites:


    LGBT Foundation: https://lgbt.foundation


    Stonewall: www.stonewall.org.uk


    Mind Out: https://mindout.org.uk


    Albert Kennedy Trust: https://www.akt.org.uk


     


    General information and guidance


    Citizens Advice: citizensadvice.org.uk/consumer/insurance/insurance

    Association of British Insurers: abi.org.uk

    British Insurance Broker’s Association: biba.org.uk



    This episode was recorded during the coronavirus outbreak. For the latest information on financial support and benefits, visit gov.uk/coronavirus.


    Please note that all topics discussed in this episode can vary depending on your personal circumstances. Any figures quoted were accurate at the time of recording.


     

    • 51 min
    Why is protection insurance so important?

    Why is protection insurance so important?

    From life insurance and income protection to critical illness cover, protection insurance can be a great way to help to protect your financial future or that of your loved ones. But how do we work out what cover is right for us? On this episode Andrea Fox speaks to Kara Gammell, award-winning personal finance journalist and founder of money-saving blog ‘Your Best Friend's Guide to Cash’ to find out everything you need to know.


    How can you find more information?
    Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website.

    You can also find lots of helpful information on protection insurance on the following sites:


    Life insurance


    Do you need life insurance: moneyadviceservice.org.uk/en/articles/do-you-need-life-insurance

    Choosing a policy: moneyadviceservice.org.uk/en/articles/life-insurance-choosing-the-right-policy-and-cover


    Income protection insurance


    Do you need income protection insurance: moneyadviceservice.org.uk/en/articles/do-you-need-income-protection-insurance

    Choosing a policy: moneyadviceservice.org.uk/en/articles/income-protection-insurance-choose-the-right-policy-and-cover


    Critical illness cover


    Do you need critical illness cover: moneyadviceservice.org.uk/en/articles/critical-illness-insurance-do-you-need-it

    Choosing a policy: moneyadviceservice.org.uk/en/articles/critical-illness-insurance-choose-the-right-policy-and-cover


    General information and guidance


    Citizens Advice: citizensadvice.org.uk/consumer/insurance/insurance

    Association of British Insurers: abi.org.uk

    British Insurance Broker’s Association: biba.org.uk


    This episode was recorded in March 2021 during the coronavirus outbreak. For the latest information on financial support and benefits, visit gov.uk/coronavirus.


    Please note that all topics discussed in this episode can vary depending on your personal circumstances. Any figures quoted were accurate at the time of recording.

    • 37 min
    Your guide to mortgages and home buying

    Your guide to mortgages and home buying

    There’s a lot to think about when you buy a property, from mortgages and deposits to homebuying schemes and hidden costs. This month Andrea Fox joins Andy Webb, broadcaster, money expert and founder of personal finance blog Be Clever With Your Cash, to find out everything you need to know.


    How can you find more information?
    Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website, or visit Unbiased to find a trusted professional in your area.

    You can also find lots of helpful information on mortgages and home buying on the following sites:

    Preparing to buy


    HomeOwners Alliance: hoa.org.uk/advice/guides-for-homeowners/i-am-buying/the-hoa-step-by-step-guide-to-buying-a-home


    Money Advice Service: moneyadviceservice.org.uk/en/articles/saving-money-for-a-deposit


    GOV.UK: gov.uk/lifetime-isa


    Money Advice Service: moneyadviceservice.org.uk/en/articles/how-to-improve-your-credit-rating

    Homebuying schemes


    Help to Buy: helptobuy.gov.uk/help-to-buy-isa/how-does-it-work


    Shared Ownership: helptobuy.gov.uk/shared-ownership


    Equity Loans: helptobuy.gov.uk/equity-loan/equity-loans

    Mortgages 


    Money Advice Service: moneyadviceservice.org.uk/en/categories/mortgages

    Other housing costs


    Royal London: royallondon.com/about-us/members/understanding-your-finances/your-personal-finances/the-hidden-costs-of-buying-a-house


    GOV.UK: gov.uk/stamp-duty-land-tax

    This episode was recorded in March 2021 during the coronavirus outbreak. For the latest information on financial support and benefits, visit gov.uk/coronavirus.

    Please note that all topics discussed in this episode can vary depending on your personal circumstances. Any figures quoted were accurate at the time of recording.

    • 34 min
    Navigating your career as a woman or parent

    Navigating your career as a woman or parent

    In celebration of International Women’s Day, host Andrea Fox joins working parents and comedy duo The Scummy Mummies, also known as Helen Thorn and Ellie Gibson, and Helen Morrissey, a personal finance expert from Royal London. In this episode, we discuss some of the challenges of being a woman in the workplace, as well as the impact of being a parent on your career and finances.


    How can you find more information?


    Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website, or visit Unbiased to find a trusted professional in your area.


    You can also find lots of helpful information on some of the topics discussed on the following sites:


    Employment and flexible working


    Money Advice Service: www.moneyadviceservice.org.uk/en/categories/work-and-redundancy


    Citizens Advice: www.citizensadvice.org.uk/work/rights-at-work/flexible-working/flexible-working-what-is-it


    Career planning


    National Careers Service: nationalcareers.service.gov.uk


    Family financial planning


    Royal London: www.royallondon.com/media/good-with-your-money-guides/family-financial-planning


    Maternity leave and pay


    Money Advice Service: www.moneyadviceservice.org.uk/en/articles/maternity-pay-and-leave


    Returning to work


    Money Advice Service: www.moneyadviceservice.org.uk/en/articles/know-your-rights-when-you-go-back-to-work-after-having-a-baby


    Financial support for parents


    GOV.UK: www.gov.uk/browse/childcare-parenting/financial-help-children


    Turn2us: www.turn2us.org.uk/Benefit-guides/Beginner-s-Guide-to-Benefits/Checking-benefit-entitlement


    This episode was recorded in February 2021 during the coronavirus outbreak. For the latest information on financial support and benefits, visit gov.uk/coronavirus.


    Please note that all topics discussed in this episode can vary depending on your personal circumstances. Any figures quoted were accurate at the time of recording.

    • 37 min
    Protecting yourself against financial scams

    Protecting yourself against financial scams

    Millions of people are affected by financial fraud and scams every year – whether it’s online, over the phone, by post or in person. In this episode, host Andrea Fox speaks to Marilyn Baldwin OBE, founder of Think Jessica, about how we can spot financial scams and protect ourselves from them. Marilyn spent five years trying to help her elderly mother Jessica who fell victim to numerous scammers and set up Think Jessica, an organisation committed to protecting people from financial fraud, shortly after she died.


    How can you find more information?

    Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website, or visit Unbiased to find a trusted professional in your area.

    You can also find lots of helpful information on recognising, avoiding and reporting financial scams on the following sites:


    General information and support


    Think Jessica: www.thinkjessica.com


    Take Five: takefive-stopfraud.org.uk


    Money Advice Service: www.moneyadviceservice.org.uk/en/categories/scams


    Royal London: www.royallondon.com/media/good-with-your-money-guides/avoiding-scams


    Preventing postal fraud


    Mail Preference Service: www.mpsonline.org.uk


    Citizens Advice: www.citizensadvice.org.uk/consumer/post/stop-getting-junk-mail


    Preventing telephone fraud


    Telephone Preference Service: www.tpsonline.org.uk


    Citizens Advice: www.citizensadvice.org.uk/consumer/phone-internet-downloads-or-tv/stop-getting-nuisance-calls-and-texts


    Preventing online fraud


    Nation Cyber Security Centre: www.ncsc.gov.uk


    Reporting a scam


    Action Fraud: www.actionfraud.police.uk


    This episode was recorded in January 2021 during the coronavirus outbreak. For the latest information on financial support and benefits, visit gov.uk/coronavirus.

    Please note that all topics discussed in this episode can vary depending on your personal circumstances. Any figures quoted were accurate at the time of recording.

    • 28 min

Customer Reviews

4.9 out of 5
32 Ratings

32 Ratings

Alan143 ,

On the money

A great podcast with a fun and relatable host. Subject matter touches on some great topics and points to some really useful information. The guests are great too 😊

abdheifhxhsjfjc ,

Basic information

Helpful but basic information. Worth listening to for someone in the early stages of considering a loan, buying a house, saving etc. Useful tips to manage your budget and plan for the future. I like how they use simple language that doesn’t over complicate what they are taking about. Slightly patronising sounding at times but I think it is ultimately based at people with little to no knowledge and it can be hard to find this advice displayed in a clear and simple way. This podcast does the job

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