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Money Box

Updated 4 days ago

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

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

iTunes Ratings

15 Ratings
Average Ratings
7
4
1
1
2

Great advice

By Newsjunkie84 - Nov 12 2012
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Always full of great advice and useful information.

Avid Listener

By Toni Wall - Oct 11 2012
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Great show. I always look forward to listening.

iTunes Ratings

15 Ratings
Average Ratings
7
4
1
1
2

Great advice

By Newsjunkie84 - Nov 12 2012
Read more
Always full of great advice and useful information.

Avid Listener

By Toni Wall - Oct 11 2012
Read more
Great show. I always look forward to listening.
Cover image of Money Box

Money Box

Updated 4 days ago

Read more

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

Rank #1: Rent and Return

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For years we've rented carpet cleaners or hired a dinner jacket for a wedding. But now we're beginning to rent all sorts of other things too. Furniture., toys, even outfits for a work do. Money Box Live looks at the increasingly popular option of renting stuff rather than owning it. What can you borrow and what the pros and cons of doing so? We visit the Library of Things in south London where you can rent a tent, a waffle maker or even a ukulele. Will borrowing not buying help save the planet?

Guests:
Emily Gordon-Smith Director of Consumer Products at Stylus
Martyn James, Consumer rights expert at Resolver

Presenter: Louise Cooper
Producer: Sally Abrahams

Jun 12 2019

30mins

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Rank #2: How do you ask for a pay rise?

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Whether you are a freelancer or working for a big company, talking about how much you're worth can be hard. Have you been too scared to ask for a pay rise? Have you asked but been rejected? Have you dodged negotiating your pay when offered a new position?

We take your calls and offer advice on how to have those tricky conversations.

Contact the Money Box team - email moneybox@bbc.co.uk or tweet @moneybox.
Or call us from 1pm on Wednesday: 03 700 100 444 - geographic charges apply.

Join Louise Cooper and her expert panel:
Catherine Davies from Pay Rise Accelerator
Andrew Chamberlain, Deputy Director of Policy at IPSE
Natalie Reynolds author of "We have a Deal" and founder of negotiation consultancy Advantage spring

Producer: Phoebe Keane
Editor: Emma Rippon

Sep 11 2019

34mins

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Rank #3: Smart meter only energy tariffs

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Over 13 million smart meters have been installed in the UK. By the end of December next year gas and electricity suppliers will be expected to have taken "all reasonable steps" to roll them out to domestic and small business customers. One of those steps involves offering cheaper tariffs to customers - but only if they agree to have a smart meter installed. There's no legal requirement to have one so is it an unreasonable step too far? Guests: Lawrence Slade, Chief Executive at Energy UK and Joe Malinowski, founder of energyscanner.com

To what extent does the way we bank affect the way we spend, or don’t spend, our money? Guest: Abi Adams, Behavioural Economist at the University of Oxford.

The Serious Fraud Office has opened an investigation into individuals linked to London Capital & Finance. The failed high-risk mini-bond provider entered administration in January, but not before over 11,000 people had trusted it with £236m of their cash to invest in what they were told were fixed-rate ISAs. They now stand to get 20% of their money back at best.

Annuities are a retirement income product bought with some or all of your pension pot. The insurance and pension provider Prudential is currently transferring around 400,000 policy holders to Rothesay Life following the sale of its portfolio to the annuities specialist. Guest: Billy Burrows, Retirement Director at specialist pensions adviser Better Retirement who explains the underlying security behind annuities and how they are protected if the provider changes.

Reporter: Dan Whitworth
Presenter: Paul Lewis
Producer: Charmaine Cozier
Editor: Richard Vadon

Mar 23 2019

25mins

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Rank #4: Electric Cars

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Adam Shaw and guests discuss the costs and considerations of driving an electric car. To join the conversation call 03700 100 444 from 1pm – 3.30pm on Wednesday 10 July, email moneybox@bbc.co.uk or tweet @moneybox. We’d love to hear your views, questions and experiences.

On the panel:

Melanie Shufflebotham, Co-founder of Zap-Map and Next Green Car
Claire Evans Consumer editor, Autocar and What Car?
Anders Nilsson, GoCompare

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

Jul 10 2019

32mins

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Rank #5: Returning to work

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Looking for and finding a job following a long career break can be difficult and demoralising. There are various reasons for extended career breaks including redundancy, divorce or family commitments. What help is available for returners and how can employers do more to recruit them?

Adam Shaw and a panel of guests are ready to hear your questions and experiences and provide practical help. Email moneybox@bbc.co.uk or call 03700 100 444 after 1pm on Wednesday 15th May. Standard geographic charges from landlines and mobiles will apply.

Guests: Emily Andrews, Senior Evidence Manager at the Centre for Ageing Better, Stephanie Dillon, Founder of Inclusivity Partners and Sarah Chilton, Partner with specialist employment lawyers CM Murray.

Presenter: Adam Shaw
Producer: Charmaine Cozier
Editor: Andrew Smith

May 15 2019

30mins

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Rank #6: Inheritance Planning Goes Wrong

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We speak to people who are worried that they've lost control of their life savings having handed it to a company they can no longer contact. Their situation highlights the huge concerns about the unregulated industry of inheritance planning, even though some businesses handle huge amounts of cash. Anyone can set themselves up as an estate planner or will writer but that lack of regulation can have alarming consequences when things don't go as planned.

Also, Adam Shaw speaks to Richard Lloyd, the man appointed to lead an independent investigation into the running of the Financial Ombudsman Service. It follows a TV documentary that revealed a litany of problems facing the ombudsman, including severely under-trained staff, unachievable targets, and thousands of incorrect decisions. .

And, what should banks be doing to stop the persistence of transfer fraud? With more than £200 million worth of people's money was lost last year after criminals impersonating their bank persuaded them to transfer money to the criminal's account. The victim's own banks won't be held accountable, but what about the bank where the stolen money is moved to? Natasha Vernier, Monzo Bank's Head of Financial Crime gives us one bank's view, and fraud consultant Richard Emery of 4 Keys International explains how banks should be forced to accept responsibility.

Presenter: Adam Shaw
Producer: Marie Keyworth
Editor: Jim Frank.

May 05 2018

24mins

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Rank #7: Financial Resolutions

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A New Year, a new you!

Many of us have committed to eat better and get fitter. But just as popular is to save more.

We want to know how you have resolved to improve YOUR personal finances. Email us: moneybox@bbc.co.uk or call us from 1300 on 16th January on 03 700 100 444, geographic charges from landlines and mobiles apply. Let us know how you're doing.

Presenter: Louise Cooper
Producer: Alex Lewis
Editor: John Murphy

Jan 16 2019

34mins

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Rank #8: Aegon admin delays trap £40,000 for nine months

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In March of this year Money Box listener Nicola's financial adviser made his first attempt to move her investment fund, valued at £40,000, from Aegon to another provider. Nine months later, despite making a formal complaint and taking their case to the Financial Services Ombudsman, the money has yet to arrive. To date Aegon has offered Nicola £100 which it increased this week to £500, as an apology "for the unacceptable delays she has faced in the transfer of her funds." Guest: Nicola's independent financial adviser, Iain Forrest, Director of Forrest Financial Management and we also hear from the Financial Ombudsman Service.

Dan Whitworth reports on a HMRC VAT exemption rule clarification which recently came into force and has resulted in some people seeing a sudden increase in their property management company service charge. The clarification is intended to make it clear that third parties such as property management companies are subject to VAT. Some of these companies have started to pass the cost on. Guest: Alan Pearce, VAT Partner, Blick Rothenberg.

A pensions dashboard which will allow people to see their scheme details, old and new, big and small, in one place, online, for the first time is due to go live next year. However the first version won't contain state pension details and once it’s up and running pension providers will be able to offer their own commercial dashboards. Guest Sir Steve Webb, Director, Royal London and former pensions minister.

Presenter: Adam Shaw
Reporter: Dan Whitworth
Producer: Charmaine Cozier
Editor: Richard Vadon

Dec 08 2018

25mins

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Rank #9: Money Box Live: Mental Health & Money

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Our expert panel take a look at the problems around mental health and money. From how to make your benefits work better for you, talking with banks and how to avoid the complications that can come from periods of poor mental health.

You can call Money Box Live 03 700 100 444. Or email us moneybox@bbc.co.uk or tweet @moneybox.

Panel-
Anne Riddle from the Bridge Money Advisory Service in Stoke-on-Trent
Helen Undy from the Money and Mental Health Policy Institute
Ayaz Manji from Mind

Oct 30 2019

32mins

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Rank #10: London Capital & Finance plc updates

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Money Box reporter Dan Whitworth investigates the companies which marketed London Capital & Finance plc ('LCF') mini-bonds to investors, including on comparison websites. LCF entered administration in January, by then 11,000 bondholders had invested £236m of savings. The joint administrator to LCF, Finbarr O'Connell, also provides an update on efforts to determine how the investments of those 11,000 bondholders unravelled and whether they have any hope of getting any of their money back.

The cost of obtaining a death certificate in England and Wales recently increased from £4 to £11. People usually find, to their surprise, that they need to purchase multiple copies of certificates when alerting financial institutions or utility companies to a bereavement. Guest: Ian Bond Director and Head of Trusts and Estates at Talbots Law and chair of the Law Society's wills and equity committee.

Financial Independence, Retire Early or FIRE is a movement driven by the idea of extreme saving in order to fund an early retirement. How realistic is it? Guests: Kristian Danielson who is 27 and planning to retire before he's 40 and Nick Earl, Financial Planner at London Money where he specialises in investments and retirement planning.

Reporter: Dan Whitworth
Presenter: Paul Lewis
Producer: Charmaine Cozier
Editor: Richard Vadon

Mar 09 2019

24mins

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Rank #11: The East-West Energy Divide

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Why does a family in Wrexham pay more for their energy than a family in Nottinghamshire? It's not because they use more gas and electricity. It's because people in more rural areas, further away from the energy source, are charged more. The cost of sending energy down the lines and pipes is greater for more remote areas, pushing up household prices. But is that fair and why is there not a universal charge? Kevin Peachey reports.

Cash or pension? An NHS Trust is offering new recruits enhanced pay if they opt out of the NHS pension. Former pensions minister Steve Webb, who introduced auto-enrolment, tells Lesley Curwen why he thinks this is a worrying precedent.

Could property crowdfunding schemes help young people get on the housing ladder? The Social Market Foundation says they provide people with an opportunity to keep up with property market inflation while they save for a deposit. But MoneyWeek editor Merryn Somerset Webb tells Lesley Curwen people need to be aware of the risks.

Presenter: Lesley Curwen
Producer: Ruth Alexander.

Feb 20 2016

24mins

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Rank #12: Fundraising for schools

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Ever had the horror of running a cake stand? Do charity egg and spoon races haunt your dreams? Moneybox is looking to make you the Jeff Bezos of the the bake sale and make your fundraiser go further.

Parent Teacher Associations are changing, their roles and are now more important than ever. With budget cuts in schools and pressure for new technology the need for extra funding has never been greater.

Moneybox Live looks at how school fundraisers can maximise their money, bring in new volunteers, use charitable status to find new funding and adapt to the digital world.

Presenter Felicity Hannah is joined by Carol Rogerson of PTA Plus magazine, Kerry Jane Packman from charity Parentkind and Susan Burton from start-up Classlist to answer listeners' questions.

Contact the Money Box team to tell your stories
The number to call is 03 700 100 444, geographic charges apply. The lines open at 1pm on Wednesday.
Email moneybox@bbc.co.uk or tweet @moneybox

Oct 02 2019

32mins

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Rank #13: Rare victory for bank fraud victim

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Two banks have taken the unusual step of refunding a fraud victim all her money. With new rules for banks on this issue coming into force soon, is this a sign of things to come and are more victims likely to benefit? We hear from bank fraud consultant, Richard Emery, of 4 Keys international.

Economy Energy has become the ninth energy supply company to go bust in the last year. 235,000 customers are now being told to sit tight while Ofgem appoints a new supplier, but has the regulator opened up the market too much? We speak to one of its executive directors, Mary Starks.

And with Universal Credit complicating who does and doesn’t get free prescriptions in England, hundreds of thousands of people are being wrongly fined for not paying the £8.80 fee. We find out what it means for claimants and pharmacists and speak to Sandra Gidley, from the Royal Pharmaceutical Society.

Presenter: Paul Lewis
Producer: Sally Abrahams
Editor: Richard Vadon

Jan 12 2019

24mins

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Rank #14: What's next for QuickQuid borrowers?

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The payday lender QuickQuid has entered administration. It follows an earlier announcement of plans to close its business in the UK where it was the largest firm of its type. It's owned by the US-based company Enova which gave "regulatory uncertainty" as the reason for departure. What does this mean for existing borrowers and also for customers awaiting compensation for loans they say they should never have had because there's no way they could afford to repay them? Guest: Martin Lewis, founder of Money Saving Expert.

Money Box listener Elaine reveals how her 18-year-old son was bullied into becoming a money mule, which saw him laundering cash from criminal activities through his personal bank account. Guest: Detective Sargeant Marc Cananur from the Kent Police Economic Crime Unit.

An expensive plumber's bill - but not the sort you might be thinking of. Murray Menzies paid into a pension scheme for his employees and now faces a £1.2m bill triggered by his decision to retire and close down the small family firm. Guest Katie Banks, Partner at Hogan Lovells and Chair of the Association of Pension Lawyers.

Presenter: Paul Lewis
Producer: Charmaine Cozier
Editor: Bridget Harney

Oct 26 2019

33mins

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Rank #15: British Steel pension member - the worst decision of my life?

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There's concern that thousands of steelworkers and former steelworkers at Port Talbot may have been badly advised to withdraw funds and put them into unsuitable investments. Money Box has learned that six firms have now voluntarily stopped signing up new clients. Money Box's Tony Bonsignore reports from Port Talbot. The programme hears from steelworker Paul who fears he's made the worst financial decision in his life. Megan Butler, director of supervision at the FCA and Michelle Cracknell, from the Pensions Advisory Service, explain the latest details of this complex situation.

The Scottish Government is flexing its muscles over tax. As Money Box previewed last week, its draft Budget this week set out plans for increasing the present three income tax bands to five. Those earning up to £33,000 - will pay less income tax than they do this year. But some on higher incomes will pay considerably more.
Stephen Hay, head of tax at accountants RSM joins the programme.

Presenter; Paul Lewis
Producer: Lesley McAlpine
Editor: Andrew Smith.

Dec 16 2017

24mins

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Rank #16: The psychology of fraud

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Criminals fraudulently stole £1.2 billion last year from our bank accounts according to the industry body UK Finance.

But that’s just the tip of the iceberg - the true scale of financial fraud is hard to put a figure on. As many as four out of five people who have been stung don't report it.

Fraud is an epidemic that’s seemingly out of control.

In this programme, Iona Bain asks why do we fall for fraudsters?

How do they manage to dupe us into hitting the transfer button on fraudulent transactions worth thousands of pounds? Can understanding this give us more of a fighting chance against them? And what’s the role of technology in all of this - both as a catalyst and as a possible cure?

Producer: Alex Lewis
Editor: Emma Rippon

Apr 20 2019

24mins

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Rank #17: Credit Unions

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Credit unions are financial not-for-profit co-operatives run by their members which offer a range of saving accounts and loans. Around 2 million people in the UK belong to one. In order to join people must have something in common with other members such as living or working in the same area or having the same occupation.

The work that credit unions do with those who are excluded from mainstream financial services has led to the perception that they are a "poor man's bank" but this isn't the whole story. Paul Lewis talks to Robert Kelly, Chief Executive of the Association of British Credit Unions, and Dr Paul A. Jones, Head of the Research Unit for Financial Inclusion at Liverpool John Moores University, about how credit unions are adapting in the age of fast digital banking

With contributions from Teresa Manning, Chief Executive of Clockwise Credit Union and Professor Sharon Collard Research Director of the Personal Finance Research Centre at the University of Bristol.

If you have a credit union related question for the panel you can call 03700 100 444 after 1pm on Wednesday 5th June or email moneybox@bbc.co.uk

Standard geographic charges from landlines and mobiles will apply.

Presenter: Paul Lewis
Producer: Charmaine Cozier
Editor: Emma Rippon

Jun 05 2019

32mins

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Rank #18: High-risk trading fraud warning

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The FCA is warning about a form of online high-risk trading which some firms are illegally offering in the UK. Binary options trading involves betting on whether anything that can be measured in financial terms, like a currency or share index, will rise or fall below a specified price at a certain time. The FCA began regulating last month which means it's now illegal to sell those trades in the UK without its authorisation. Money Box listener Penny lost nearly £17,000 with an unauthorised firm but what can the FCA do in future to protect people like Penny? Christopher Woolard FCA Director of Strategy and Competition explains.

The Department of Work and Pensions has confirmed that all Personal Independence Payment (PIP) claims will be reviewed. It follows a Government decision not to challenge a court ruling that said changes to PIP were unfair to people with mental health conditions. Guest Paul Farmer, Chief Executive of the mental health charity Mind.

Interest-only mortgage holders are being urged to contact their lenders after a financial regulator review found too many people avoid planning how they intend to clear the underlying debt when the mortgage ends. It comes as Bank of England figures show December mortgage approvals reached a three year low. Why? Guests: Jane King, Independent Financial Adviser with Ash-Ridge Private Finance and Samuel Tombs, Chief UK Economist at Pantheon Macroeconomics.
Presenter: Paul Lewis
Producer: Charmaine Cozier
Editor: Jim Frank.

Feb 03 2018

26mins

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Rank #19: Investment ISAs

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In his first budget speech for the new Labour government chancellor Gordon Brown announced the 1999 introduction of individual savings accounts. The idea was to encourage the habit of putting money away, especially those who had never saved before. Twenty years later, there are more types available. We look at non-cash ISAs with Mark Polson, Founder of The Lang Cat financial services consultancy.

Money Box reporter Dan Whitworth looks into warnings sent to the Financial Conduct Authority years before it took action against London Capital & Finance plc. LCF entered administration in January. By that time over 11,000 people had put £236m into high risk mini-bonds. At best they might only get around 20% of their original investment back.

Laura received a letter from the Department of Work and Pensions asking for £625 of benefits it had placed into the bank account of her deceased grandmother. Laura's only involvement was to register the death. There was no will and no executor. The few assets her grandmother had went towards meeting funeral costs. The DWP confirmed to Money Box that there's no legal obligation to return a benefit direct payment of this type and if the recovery letter it sends is ignored, it will not pursue the amount. It also confirmed there are no plans to reimburse Laura the £625 she struggled to raise to pay it. Guest: Adam Sym, Probate Executive, Stephensons Solicitors.

The exit fees charged by investors who want to move from their current online platform, and the difficulty many face in doing so, is the subject of the latest market study from the FCA. What might change for investors and do the proposals go far enough?

Presenter: Paul Lewis
Reporter: Dan Whitworth
Producer: Charmaine Cozier
Editor: Richard Vadon

Mar 16 2019

25mins

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Rank #20: The Personal Finance of Comedy

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You might think of comedians as up on a stage in a pub, but that's just one part of what the job entails today.

Social media, streaming services and stadium tours have changed the game. Instead of doing gigs to get on TV, you do TV to get people to your gig!

We'll look at how to start out and deal with cash and card readers, how to navigate online streaming and how you can get a mortgage while still telling jokes for a living.

The panel are-

Charlie Dinkin, comedian,director and writer

Tiernan Douieb, a stand-up perfomer and podcast presenter

Sarah Fox Clinch, a mortgage specialist for comedians at Fox Davidson

David Coppard, Head of Media and Entertainment at accountancy firm MHA MacIntyre Hudson

Oct 23 2019

32mins

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