276 episodes

The latest news from the world of personal finance plus advice for those trying to make the most of their money.

Money Bo‪x‬ BBC

    • Business
    • 4.1 • 21 Ratings

The latest news from the world of personal finance plus advice for those trying to make the most of their money.

    Why is the state pension so complicated?

    Why is the state pension so complicated?

    More than 200 pensioners responded to a request to tell us how much their state pension was. They were nearly all different amounts. Next week the basic pension is rising to £137.60 a week and the new state pension paid to younger pensioners to £179.60. But those are amounts that hardly anyone actually gets. So why are pensions - the old and the new - so complicated?

    Who better to answer that than two former pensions ministers. Sir Steve Webb had that job throughout the years of the coalition government and Baroness Ros Altmann for just over a year under David Cameron.

    Pockit is not a bank. But it does offer what it calls a current account. In fact that is a pre-paid card which customers load money onto and then can spend it almost as if it was a bank account. But some users have told Moneybox that their accounts have been locked and they they have struggled to get through to Pockit to find out what's going on. Paul talks to Martyn James, consumer rights expert at Resolver.

    It is now more than 90 days since the UK left the ambit of the EU at the end of the transition period. And more than one million UK people living in EU countries must adapt to the laws that apply to foreign residents. And if you have thought that maybe one day you would like to go to work or retire to an EU country what are the rules you will now have to follow? This week we look at Spain which is home to more people from the UK than any other EU country. Barry Davys is a partner in Spectrum International Financial Adviser group based in Catalunya.

    Researcher: Sowda Ali
    Producer: Ben Carter
    Editor: Richard Vadon

    • 36 min
    Divorce and separation during the pandemic

    Divorce and separation during the pandemic

    There’s been a rise in the number of divorces according to the Office for National Statistics along with predictions that even more couples will split as a result of the coronavirus crisis.

    Many law firms are reporting huge spikes in the number of separations during the pandemic.

    Plans for new “no fault” divorce rules are due to come in in the next few months and will abolish the need to blame one of the parties when pursuing a divorce.

    But what happens to the finances during all of this? What if a couple weren’t married or owned some assets before the marriage?

    Presenter Louise Cooper will be joined by:

    Rhona Adams, partner at Morton Fraser and head of the family law team
    Claire Gordon, family law partner at Farrer & Co
    Michael Royce, senior policy and propositions manager at the Money and Pensions Service

    E-mail moneybox@bbc.co.uk or tweet @Moneybox now with your thoughts, questions and experiences.

    Producer: Darin Graham
    Editor: Richard Vadon

    • 33 min
    What might negative interest rates mean for UK banking services?

    What might negative interest rates mean for UK banking services?

    Fancy earning interest on a £10,000 loan? We’ll find out about what negative interest rates mean for consumers in Denmark and what might happen if they were introduced here. Felicity Hannah talks to Niels Arne Dam, Chief Economist at Finance Denmark and Paul Pester, former CEO of TSB and currently the chair of research and ratings agency Fairer Finance.

    Women’s finances have been hit harder than men’s by the Covid crisis, so could that risk a widening wealth gap and how do we fix it? Maike Currie, investment director at Fidelity Investments and Professor Annamaria Lusardi, head of the Global Financial Literacy Excellence Center at The George Washington University School of Business have some ideas.

    And, if you’re eating too much chocolate this weekend then you’re not alone! But can that tell us anything about how you plan your pension, your investments, your savings? Or does it just mean you like chocolate? Felicity talks to Dr Pragya Agarwal, a behavioural data scientist and Claire Walsh, a chartered financial planner.

    Researcher: Jonelle Awomoyi
    Production Co-ordinator: Janet Staples
    Sound Engineer: Graham Puddifoot
    Producer: Ben Carter
    Editor: Emma Rippon

    • 35 min
    Apprenticeships

    Apprenticeships

    Apprenticeships allow you to earn money as you study for qualifications and gain practical experience on the job.

    There's a wide range of careers and industries to choose from but a recent Ofsted report said that 10% of apprenticeships are inadequate, so how do you find a good quality scheme to help you develop the skills you need to succeed?

    On Wednesday's programme Adam Shaw speaks to apprentices and employers about their experiences and ambitions and we'd love to hear from you too.

    If you're interested in becoming an apprentice or you're an employer who'd like to hire apprentices e-mail moneybox@bbc.co.uk now.

    Presenter: Adam Shaw
    Producer: Diane Richardson
    Editor: Emma Rippon

    • 27 min
    Number spoofing facilitating fraud

    Number spoofing facilitating fraud

    All too often we hear about fraudsters using the phone to trick victims into handing over thousands or tens of thousands of pounds and destroying lives in the process. But how often to we get to hear an actual recording of these criminals in action? We play a recording of a fraud call in progress because a criminal made the terrible mistake of calling our Money Box reporter Dan Whitworth. Paul Lewis talks to Graeme Biggar, Director General of National Economic Crime Centre for the National Crime Agency and MP Steve Baker, who's a member of the Treasury Select Committee.

    The Government plans to put more regulations in place to address the widespread concerns about the poor practice and behaviour of private car parking operators.
    A new code of practice will be drawn up, with the system being introduced by the middle of next year. Paul talks to Steve Clark, Director of Operations and Business Development, British Parking Association.

    The FCA says it has no current plans to take further regulatory action against a compensation scheme set up by the guarantor loans lender Amigo - despite admitting the scheme might not be compatible with its current rules. Sara Williams, founder of the debt advice website Debt Camel, talks us through the latest developments.

    Presenter: Paul Lewis
    Reporter: Dan Whitworth
    Researcher: Jonelle Awomoyi
    Production Coordinator: Janet Staples
    Producer: Ben Carter
    Editor: Rosamund Jones

    • 45 min
    Debt during the pandemic

    Debt during the pandemic

    A recent report by the Financial Conduct Authority (FCA) found that the coronavirus pandemic has driven more people into financial vulnerability. More adults in the UK have fallen into debt or have little capacity to ride out financial shocks, the FCA said.

    While furlough, other support grants and the Universal Credit uplift have helped many people avoid money problems, concerns are growing over the financial damage from multiple lockdowns, job losses, lower earnings and redundancies.

    How are people coping with debt during the pandemic and what support is available?

    Joining presenter Louise Cooper on the panel:

    Helen Undy, chief executive, Money and Mental Health Policy Institute
    Richard Lane, head of external affairs, Stepchange
    Colin Mathieson, from Advice Direct Scotland

    If you have a question about debt, please get in touch. E-mail moneybox@bbc.co.uk or tweet @MoneyBox.

    Producer: Darin Graham
    Editor: Rosamund Jones

    • 34 min

Customer Reviews

4.1 out of 5
21 Ratings

21 Ratings

McDavies ,

Standard UK Listening

This should be part of your standard podcast listening if your in the UK.

The more you listen to it the more you'll find youself understanding.

Newsjunkie84 ,

Great advice

Always full of great advice and useful information.

Toni Wall ,

Avid Listener

Great show. I always look forward to listening.

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