Well, what a week. We've had a Budget, a 0.5 per cent base rate cut and stock markets going haywire thanks to coronavirus and oil price crashes. Why did the Bank of England cut rates to 0.25 per cent on the morning of the Budget and what are policymakers hoping to achieve? How did Rishi Sunak perform in his first Budget as Chancellor and what was announced in his speech? On Thursday, the FTSE 100 saw its second biggest dive on record. What is happening to the markets and where does it end? On this week's podcast, Simon Lambert, Lee Boyce and Georgie Frost, dissect what has been one of the most turbulent weeks in living memory. In the Budget, we had a number of coronavirus measures – but also some titbits of personal finance news that could hit the pound in your pocket. We also look at what coronavirus means for travel insurance and your refund rights to events

This is Money Podcast

The Budget, the base rate cut and the stock market crash

Every year, between March and April, there used to be a cash Isa season. Banks and building societies clambered over each other in the race to top the best buy tables. This hasn't been the case for a while. However, Nationwide - with a new savings lottery - and Coventry - with a new deal - have offered signs of some green shoots this year, but is it even worth having a tax-free savings account anymore? On this week's podcast, Simon Lambert, Lee Boyce and Georgie Frost go to Isa-town, to talk cash savings deals, the best services to invest, and how to overcome the fear that coronavirus-induced stock market falls have delivered.   Elsewhere, the coronavirus also hit the Geneva Motor Show, but the motor industry decided many of the launches could take place online instead.  What cars were unveiled? Well it broadly fell into two camps, very expensive limited edition hypercars and electric cars that might be the future for the mass market. Simon and Lee talk through the best of them. Meanwhile, a reader takes the taxman to court over a child benefit penalty and finally Lee cracks open a low-alcohol beer at Adnams brewery, in Suffolk, and asks: has the taste become better... and why?

Does Nationwide's savings lottery show there's still life in the cash Isa?

On this episode of Making the Money Work podcast, comedian Shappi Khorsandi joins Andi Peters and Simon Lambert to discuss how she built a career in comedy, her unusual life as the daughter of an exiled Iranian poet - and how she once hired Alan Carr to work in a charity call centre. This is the final episode of five in the Making the Money Work series, in partnership with FSCS, that has appeared in the This is Money podcast feed every fortnight since the start of the year. We hope you have enjoyed them. Your usual This is Money podcast will continue to be published every Friday How do you make comedy pay the bills? That’s not a problem for the handful of star names with giant arena tours, but what about the majority of comedians who’ve dedicated a life’s work to standing up and making people laugh without raking in millions? Shappi tells of her route to becoming a comedian and how she realised a job in an office wasn’t for her early on, swapping that for being a cleaner and nude life model for art students - because she could do those jobs while daydreaming.  Later on, she says having stripped off to sit for artists meant she was less worried about getting up on stage and doing stand-up in front of a crowd. The comedian, who has appeared on popular TV shows including Have I Got News for You, QI, Live at the Apollo and Mock the Week, is a single mother-of-two who supports her and her two children alone and has struggled to make ends meet. Shappi says she spent many years being ‘skint’ but that when her career took off, she was so taken aback at suddenly having money that she had to learn she had earned it and was worth it, and not to be overly generous in giving it away. She says she loves her work so much that she cannot imagine ever doing anything else, but now plans her comedy and writing so that the money she earns enables her to spend the time she wants to with her children. And as for the money she earned for doing I’m A Celebrity Get Me Out of Here?  That, says Shappi, bought her entire year of bedtimes with her children.

Making the Money Work: Shappi Khorsandi on getting comedy to pay the bills?

Bull markets don't die of old age, we've been told countless times in recent years, but do they die of coronavirus? That is the question that rattled investors are asking themselves after an astonishing week in which the FTSE 100 has fallen 12 per cent. Stock markets around the world have sold off, as investors dump shares driven by a combination of the fear that a crash is finally arriving and the forecasts that coronavirus and attempts to stop it spreading will cause a global slowdown. The UK stock market is down 15 per cent from its mid-January recent peak - what should investors do at times like these? On this week's podcast, Simon Lambert, Lee Boyce and Georgie Frost discuss why coronavirus has hit markets so hard, why investors should not act rashly out of fear and panic, and consider the advice from investing experts. Elsewhere, we reveal how we helped a couple get their £25,000 savings back after their phone number was ported away without consent. Things get a little silly as we talk about how to deal with those difficult and bizarre interview questions that don't have a correct answer. And finally, the 100 most iconic cars of all time have been named in a survey voted for by Boundless members – previously known as the Civil Service Motoring Association. We reveal what topped the charts.

Bull markets don't die of old age, but do they die of coronavirus?

This week, savings have been in the spotlight with National Savings and Investments cutting rates on a number of its offerings, including popular Premium Bonds. Both Marcus Bank and Saga also cut easy-access rates. On this week's podcast, Simon Lambert, Lee Boyce and Georgie Frost look at what's behind the cuts and question: should savers head elsewhere, and what is the point of tucking money away for little interest? Nationwide Building Society has launched a Start to Save easy-access account with a £100 lottery – is it any good and can it help get people into the savings habit? We cover a curious case of one reader who found their Spotify infiltrated by someone with appalling music taste. Simon reveals how he was stung by the loyalty penalty when a renewal letter came through from his insurer Halifax. It hiked his premium, but after weeks of back-and-forth, couldn't give him a concrete reason as to why. And Lee looks at whether a Fitbit is worth the money and how a fitness tracker helped his mum, with an underlying health condition, become healthier.

NS&I and Marcus Bank cut rates - what's the point of saving?

From hosting their podcast Nobody Panic, to being in comedy trio Massive Dad, writing scripts and articles, and putting on Edinburgh shows, Stevie and Tessa have a lot of things to juggle. The pair tell Andi Peters and Simon Lambert their tales of living on a shoestring to get ahead in the London publishing world, including sharing a one-bedroom flat and sleeping under the kitchen table. The duo also explain how to set up an Edinburgh Fringe show and why it is similar to launching a small business, from fronting the cost to book a venue, to selling tickets and hoping you can break even or maybe even make a little money. And Tessa tells of the difficulties of trying to get a mortgage, even with a contract to write a pilot season of a new show for US television. In the Making the Money Work series, in partnership with the Financial Services Compensation Scheme, we talk earnings, budgeting and savings with those whose lives and finances roam far from the norm. The five podcasts are hosted by Andi Peters, alongside This is Money’s Simon Lambert, and every fortnight you can listen to a new interview with different special guests talking about their financial lives.

Making the Money Work: How to make being a comedian, writer and podcaster pay with Tessa Coates and Stevie Martin

This week started with rumours of a pension tax relief cut and mansion tax, saw the Chancellor fall on his sword, and ended with people none the wiser about whether a Budget tax raid is more or less likely after all that. Sajid Javid exited the stage to be replaced by one of his own men, Rishi Sunak, after an attempt by Boris Johnson and Dominic Cummings to take back control at the Treasury was rebuffed by the short-lived Chancellor. The question now is just whose idea the pension tax relief and mansion tax plans were and whether they are now on the cards or not (or was the whole shebang just a bit of Machiavellian manoeuvring)? What we do know is that a Budget is due in less than a month, so other than the national purse strings being loosened for the ‘levelling-up’ agenda what are we likely to see? On this week’s podcast, Simon Lambert, Tanya Jefferies and Georgie Frost delve into the Chancellor saga, what we know about the new man, and what could happen in the Budget that will affect your finances, from a stamp duty cut, to IR35 easing and a tax raid on the wealthier. Also on the show, the team discuss an inheritance puzzler where a reader asked if it’s possible to challenge his father’s will that would leave him £25,000, while his brother would get £5million. Another reader problem about paying for care is answered too, where a reader fears losing the house they live in now his mother requires care for dementia. And finally, on a lighter note, do you drive one of Britain’s most popular second hand cars? And what makes a car a contender to get onto that list?

Will the new Chancellor give pension tax relief the chop? This is Money podcast

Would you swap your car for an electric one? If the government gets it way, soon many more of us will have to. The proposed ban on selling new petrol and diesel cars was dragged forward by five years to 2035 this week – and hybrid cars were bundled into the showroom clear-out too. If that sticks, this means that by 2030 – just a decade from now – it’s highly likely the vast majority of cars being sold new will be pure electric. For a modern world that has been shaped by the internal combustion-engined motor car that’s quite the change. On this week’s podcast, we deliver an electric car special. Simon Lambert, Georgie Frost and Lee Boyce look at the logic behind banning the sale of petrol and diesel cars, whether the move can be pulled off and why hybrids are now also on the naughty list. Charging infrastructure, range anxiety and questions over their lifecycle environmental costs are issues flagged by electric car sceptics, are they right? Meanwhile, the thing holding many people back from buying them, argues Simon, is cost. Second hand supply of electric cars is thin and choice is limited; and while the pipeline of new models is picking up dramatically, they remain pricey compared to a standard petrol car. But there could be a game-changer in the form of a salary sacrifice perk combined with a change to benefit-in-kind rules, so should you be badgering your boss to sign the company up so that you can buy a new electric car at 32% or 42% off? Fittingly, this week the great Tesla adventure tale delivered another riveting chapter. In the first two days of the week, shares rocketed more than 35 per cent and have doubled since the start of 2020. Can Elon Musk’s stock heading for the moon be justified in any way? Also, on this week’s show we talk about the 5 per cent interest offered by Zeuk – and our exclusive on the Financial Conduct Authority hitting back at adverts. And finally, why did Lee Boyce take his wife and daughter out to lunch with a set of scales to eat a watermelon steak?

Are you ready for an electric car? From range anxiety, to Tesla’s boom, and how to buy at 40% off

How do you decide to become an adventurer? For Alastair Humphreys, the decision in his twenties stemmed from his love of a challenge, the outdoors and curiosity about the world. The decision led to a life of adventure, in which Alastair has spent four years cycling round the world, run six Sahara Desert marathons, been on an Arctic expedition, busked his way round Spain, spending only money he could earn, and has written 13 books. But Alastair’s adventure philosophy isn’t about big expensive trips, he would rather do things on a shoestring - and wrote a book encouraging others to have their own cheap ‘microadventures’ close to home. Alastair joins Andi Peters and Simon Lambert on the third episode of the Making the Money Work podcast to tell us about funding the life of an adventurer and building a career out of his exploits. He also explains why he wants to help people live more adventurously – even if that’s just heading out of town and sleeping under the stars on a hillside. As well as talking microadventures - and encouraging Andi to try out sleeping in his garden - Alastair reveals how he comes up with ideas and money for his feats, whether it is walking a desert or rowing the Atlantic. He tells Andi and Simon about how he once headed for Spain without a euro in his pocket and no bank or credit cards, with the aim of busking his way round and only spending the money that he could earn from playing the violin. Alastair also reveals how he manages his money and saves, shares his thoughts on writing books and why self-publishing can pay off, and explains why being told he was an idiot for not having a pension - after a talk to a pensions firm - spurred him into saving for retirement.

Making the Money Work: Alastair Humphreys on how to fund a life of adventure:

It’s Brexit Day – and whether you voted leave or remain, are celebrating, or commiserating, we wish you a happy one. After 11pm on Friday 31 January 2019, Britain is officially no longer a member of the European Union. The big question is, what happens next? On this week’s podcast, Simon Lambert, Lee Boyce and Georgie Frost discuss both what Brexit means immediately for consumers and travellers, and how things may pan out for the economy and our finances over the year ahead. Where do we stand on Ehic medical cover in Europe, driving on the continent, mobile phone roaming, flight compensation and expat pensions? And what will the trade discussions on our future relationship with Europe and the rest of the world mean for the nation’s finances, businesses, inflation, the pound and interest rates? Also on this week’s podcast, the team dive much deeper into house prices than the usual survey, with a look at 174 years of property affordability and whether we can learn anything from a 70 year period when they got cheaper. They discuss Neil Woodford’s investors getting some money back and finding out how much they have lost so far and the curious case of the Lloyds customer of years who won a surprise bumper PPI payout that proved to be the ultimate loyalty penalty for being ripped off.

It's Brexit Day, so what happens next?

Are tax returns too taxing, why did new overdraft rules backfire, are challenger banks biting and what are the cars that hold their value best? We answer these questions on this week’s This is Money podcast.  It’s tax return time. The organised will have safely filed their tax returns long ago, but there are still plenty of people who don’t yet feel the last minute has arrived. But what if you are meant to fill in a tax return and don’t realise? On this week’s podcast, Simon Lambert, Lee Boyce and Georgie Frost discuss the ten reasons that people may have to fill a tax return in, even though they are employees paid through PAYE. The team also discuss whether much of the tax return is really needed, or whether people are needlessly spending time filling in an over complicated form for an overly complex system. Also on this week’s podcast is the overdraft row that’s blown up on the back of the FCA’s attempt to improve borrowing and bank’s deciding that 39.9 per cent rates sounded about right. The team discuss whether the challenger banks are starting to bite and why people are attracted to them. The ten cars that should hold their value best are also revealed, from a Dacia to a Bentley. But remember that even the best of these will lose you 35 per cent. And finally, Simon tells us about the new episode of the Making the Money Work podcast with London 2012 Olympic-medal winning boxer Anthony Ogogo.

Are tax returns too taxing - and could you not know you need to do one?

In this second Making the Money Work episode, Andi Peters and Simon Lambert talk to Olympic bronze medal winner and former professional boxer Anthony Ogogo about how people fund a boxing career and whether an Olympian makes much money.   Anthony tells us about building his boxing career and how an amateur boxer has to support themselves on a shoestring – even when they are heading for the Olympics.  He discusses his subsequent professional career and how after injury forced his retirement, he is swapping the boxing ring for the wrestling ring.   The 30-year-old was one of the sportsmen and women celebrated by Britain as the nation enjoyed the thrill of the London 2012 Olympics and a slew of medals.   Then aged 23, the middle-weight boxed his way to a bronze medal to add to the gold that he had won in the Junior Olympics in 2004.   Anthony, who was also a promising footballer who played for Norwich City’s youth team, had taken up boxing at the age of 12 and by the time he arrived at the London Olympics he had also won a silver medal at the 2010 Commonwealth Games.   He turned professional after the 2012 Olympics and had a short but successful career in which he challenged to be world champion.   He suffered a number of injuries before a fractured eye socket forced his retirement from the sport in 2019, with 11 wins and just one loss in his professional career.   In a statement on his retirement, Anthony said: ‘I’ve been through a lot in my career. I’ve had 17 operations and suffered every pain imaginable. I’ve won, lost, cried and hurt. But if you were to ask me would I do it again? In a heartbeat. I love this game’   He signed off with the words ‘Never give up’.   Anthony discusses how he got through hard financial times when he was injured, why he’s been careful with money and tried to save, and what it’s like being a cash-strapped up-and-coming fighter in the boxing world where those at the top are making millions.   Unable to box anymore due to his eye problems, Anthony is now on the path to a new career as a professional wrestler with All Elite Wrestling and he tells us how he intends to build that and what his financial resolutions for the future are. About Making the Money Work In our new podcast series Making the Money Work, in partnership with the Financial Services Compensation Scheme, we talk earnings, budgeting and savings with those whose lives and finances roam far from the norm.   The five podcasts are hosted by Andi Peters, alongside This is Money’s Simon Lambert, and every fortnight over the next ten weeks you can listen to a new interview with a different special guest about their financial lives. This is Money’s Podcast will continue to appear each Friday as usual, and the Making the Money Work podcasts will be published fortnightly as a bonus episode in the feed.

Making the Money Work: Boxer Anthony Ogogo on what happened after the London Olympics

Santander is to cut the rate of interest customers can earn with its 123 current account. It will mean one of Britain's most popular accounts will have dropped from a top tier 3 per cent when it launched in 2012 to 1 per cent. Why has the high street banking giant done this and could it result in an exodus of people moving? Does it signal the end of current accounts with benefits? It is also capping the level of cashback customers can earn while putting a blanket 39.9 per cent overdraft rate in place – following a similar move from its banking rivals. Simon Lambert, Lee Boyce and Georgie Frost take a look at what it means for the current account market, whether there are other – better – accounts to switch to and how it managed to become so popular. Also on this week's podcast, we look at the rise of the buy now, pay later form of credit and whether it is another debt trap to watch out for. Why have nearly 40,000 people put in retrospective planning applications? And can you really hide a castle behind a haystack… Lastly, the love affair with car buyers and SUVs shows no signs of abating – sales continue to grow at a faster rate than any other group. We list the five reasons, allegedly, not to snap one up and whether you should consider an alternative.

Has Santander signalled the end of current accounts with benefits?

Savers had a resoundingly duff deal over the decade that just ended, as they paid the price for the borrowing binge that proceeded it. Understandably, many feel somewhat aggrieved – like a moderate drinker who got the hangover that should have gone to the party animal. But it’s not just ‘emergency’ low interest rates that turned permanent that delivered the pain, banks and building societies paying little respect to loyal customers and undermining them with rock bottom rates on legacy accounts has also played a major part. Now, the financial watchdog has a plan to deal with the so-called loyalty penalty. A standard savings rate across all easy access accounts and Isas, with the ability to offer better rates over limited periods, for example, 12 months. When bonus time was up, that standard rate would act a floor to protect savers against the 0.01 per cent-paying accounts of this world. Is this a solution to the problem, or just some tinkering that all but mandates bonus accounts and does nothing to tackle saver inertia? Simon Lambert, Sarah Davidson and Georgie Frost tackle the plan to improve the savings market on this week’s podcast – and discuss whether this is a wise idea for a new decade or a recipe for more of the same. Also, on this week’s podcast, as a decade ends and one begins, we look at the property market: what happened to house prices in the 2010s and how did it compare to the 2000s, 1990s and 1980s, and also what will happen this year and in years to come? The team also look ahead to the 11 March Budget and what may crop up for our personal finances, along with the growing population of over-90s and how we look after our nonagenarians properly.

Is this the plan that will finally help savers?

This bonus podcast episode is from This is Money's new special series Making the Money Work, in partnership with the Financial Services Compensation Scheme. Andi Peters and Simon Lambert talk to record-breaking Atlantic solo rower Kiko Matthews. How do you fund a life less ordinary? For most of us financial life means paydays, bills, mortgages and attempts to save or invest, but for others it is very different. If you decide to row the Atlantic, are an Olympic boxer, or have made a career out of having adventures or doing comedy, what on earth do you do with your finances? In our new special podcast series Making the Money Work, in partnership with the Financial Services Compensation Scheme, we talk earnings, budgeting and savings with those whose lives and finances roam far from the norm. The five podcasts are hosted by Andi Peters, alongside This is Money’s Simon Lambert, and every fortnight over the next ten weeks you can listen to a new interview with a different special guest about their financial lives. This is Money’s Podcast will continue to appear each Friday as usual, and the Making the Money Work podcasts will be published fortnightly as a bonus episode in the feed. The first episode features Kiko Matthews, who on 22 March 2018, became the fastest woman to row the Atlantic, solo and unsupported, over 49 days, 7 hours and 15 minutes.  Through sponsorship of her world record attempt she raised more than £105,000 for King's College Hospital by the end of that year. But that isn’t even half the story, because in 2009 Kiko had been diagnosed with Cushings Disease, a rare and life-threatening condition, which causes tumours on the pituitary gland that controls the body’s hormones. That life-changing discovery led her to quit her job as a science teacher, qualify as a paddle-boarding instructor and set up her own business, before deciding to row the Atlantic, despite not being a rower. Midway through her training in 2017, her Cushings Disease returned and although she had to undergo neurosurgery, Kiko pushed on with her Atlantic rowing attempt. Since then, Kiko has focussed on environmental campaigning and recently cycled round the coasts of Britain and Ireland completing beach cleans. On this podcast, Kiko tells us her fascinating story, discusses her finances - and reveals just how you go about funding rowing the Atlantic.

Making the Money Work: Kiko Matthews on how you fund rowing the Atlantic

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