Beware fixed-rate savings trap… and secrets from an Isa millionaire
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 5 April 2024
⏱️ 59 minutes
🧾️ Download transcript
Summary
A year ago, there was a flurry of savers choosing fixed-rate bonds as they improved drastically. But if you don't act, the chances are it'll rollover into an awful rate.
On this week's This is Money podcast, Helen Crane, Lee Boyce and Georgie Frost talk savings, just as we head into a new financial year.
Also on the savings front, NS&I reveals the rate of the new British Savings Bond - is it worth it? And an Isa millionaire reveals all to This is Money on how he built up a seven-figure pot.
Helen tackles another reader problem – this time, it's a case of the unwanted and unneeded Sim card costing a pensioner couple hundreds of pounds.
And on the utilities front, Lee reveals how Ofcom saved him from a 75 per cent rise in his monthly broadband costs, and why you should check if you're out of contract with your mobile phone.
Mortgage approvals are up - but house prices nudge lower. What's going on?
Meanwhile, research shows a record third of all homes are being bought by first time buyers – and they make up 89 per cent of buyers in one Berkshire town.
Lastly, entrepreneur Tim Armoo runs the rule over five money-making fads doing the rounds on social media – are any of them worth your time?
Transcript
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| 0:00.0 | Welcome to This Is Money podcast, sponsored by Charles Stanley Direct. |
| 0:07.1 | I'm Georgie Frost and joining me and Lee Boyce today is Helen Crane. |
| 0:10.6 | And coming up, there's a warning for savers whose fixed term deals are coming to an end. |
| 0:15.3 | Don't take your eye off the ball now or risk having your returns wiped out in a matter of months. |
| 0:20.4 | Also, NS&I reveal the rate of the new British savings bond. |
| 0:24.4 | Is it worth it? |
| 0:25.8 | I face a 75% broadband Bill Rice, says Arleigh, |
| 0:30.2 | but Offcom saved him the haggled arts hassle. |
| 0:33.7 | Meanwhile, Crane is back on the case |
| 0:35.1 | of the unwanted SIM card costing hundreds of pounds. |
| 0:39.1 | Lots of home news and the five TikTok money-making fads explained. |
| 0:45.2 | Don't be any step to date with all the latest breaking money news. |
| 0:47.4 | Just go to this ismoney.co.uk or download the app. |
| 0:52.2 | Charles Stanley Direct. |
| 0:56.0 | Investing made easy.ing Made Easy Cost effective and flexible |
| 1:00.0 | Using our website or app |
| 1:04.0 | With our comprehensive range of investments |
| 1:07.0 | trade in shares, funds, investment trusts and ETFs. There's a range to suit all levels of investor. |
| 1:15.1 | Choose your own or consider our ready-made solutions. Charles Stanley Direct. Sign up now. |
| 1:21.3 | Investment involves risk. But first, this time last year, thousands of sabres, |
| 1:26.6 | poured billions of pounds into fixed-rate deals. |
| 1:29.6 | The most popular accounts, one-year fixes, are coming to the end of their term. |
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