Ep 504 - Holiday Scams, Tax Code Checks & Direct Debit Warning
The Money To The Masses Podcast
Damien Fahy
4.8 • 589 Ratings
🗓️ 18 May 2025
⏱️ 31 minutes
🧾️ Download transcript
Summary
On this week's show, Andy highlights seven of the most prevalent holiday scams to watch out for as summer approaches. Next, Damien takes a look at UK tax codes, explaining how they work, what the letters and numbers mean (eg. 1257L), why they can often be incorrect and the steps you can take if you think your code is wrong. Finally, Damien shares a critical warning for those who diligently pay off their credit card in full each month after he discovered a little-known issue that could inadvertently harm your credit score.
This episode is sponsored by Coinbase - Visit Coinbase* to learn more. Crypto comes with unique risks, take 2 minutes to learn more
Check out this week's podcast article on the Money to the Masses website to see the full list of resources from this week's show
(00:00) - Episode 504 of The Money to the Masses podcast(04:45) - Holiday Scams: Seven Ways Fraudsters Target Your Getaway(13:26) - Decoding Your Tax Code: Are You Paying the Right Amount?(21:12) - A Word of Warning for Those Who Clear Their Credit Card in Full
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Transcript
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| 0:00.0 | We'd like to thank this week's podcast sponsor, Coinbase, a leading online cryptocurrency platform for buying, selling, trading, storing and staking cryptocurrency. |
| 0:08.9 | Coinbase is the only major publicly traded crypto exchange in the US, and it's used by millions of users in the UK alone. |
| 0:15.6 | With a wide selection of more than 250 cryptocurrencies, industry-leading security measures, and a single user experience, |
| 0:22.5 | Coinbase makes it easier to explore the world of crypto, whether you're just getting started |
| 0:26.7 | or looking to expand your portfolio. |
| 0:29.3 | To start your crypto journey, sign up through the link in the podcast description. |
| 0:32.6 | But remember, don't invest unless you're prepared to lose all the money you invest. |
| 0:37.0 | It is a high-risk investment, and you shouldn't expect to be protected if something goes |
| 0:41.3 | wrong. |
| 0:41.7 | Hello and welcome to episode 504 of the Money to the Masses podcast with your resident, expert as |
| 0:46.8 | always, Damien Faye and me, Andy Link to Damien. |
| 0:49.2 | Welcome back. |
| 0:49.9 | How are you doing? |
| 0:50.7 | I'm really good, Andy. |
| 0:52.4 | Two reasons why this week particularly exciting. First of all, |
| 0:56.7 | we went to the Renaissance Foundation against us, the charity that we help and we go in once a |
| 1:02.3 | quarter to give a talk about money and teach the young people there who are people who are |
| 1:08.4 | carers or they may have chronic illnesses and the charity help them and the aim really is to give them opportunities or exposure to things that they may be missing out on and some of that is education or helping them do things like apply for university or give them some guidance and really help them be the best version of themselves. |
| 1:28.6 | It's a fantastic charity. |
| 1:29.7 | So if you not seen it, do look them up. |
| 1:32.4 | And there are pictures on our social channels. |
| 1:34.8 | You can click through and see their own Instagram profiles, for example. |
... |
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