How will the Ukraine crisis hit your finances and what should investors do?
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 25 February 2022
⏱️ 45 minutes
🧾️ Download transcript
Summary
The ins and outs of the conflict are not something that This is Money is qualified to comment on, but the financial impact of events is something that readers and listeners come to us to learn about.
On this podcast, Georgie Frost, Tanya Jefferies and Simon Lambert look at what that impact could be.
How the Russian-Ukraine conflict will affect out personal finances: from energy bills, to petrol prices and food, to the immediate volatility it has thrust on to people's investments, the team look at what is happening and what may happen next.
Should investors stay calm and stick to their guns, or are their merits in one outlier suggestion of moving 50 per cent to cash and batteing down the hatches?
Also on this week's podcast, the added problem of inflation for people's investments and how to combat it.
Plus, the latest on the state pension underpayment scandal and how some councils are now trying to rake in money from those paid back lump sums.
And finally, its not an uncommon situation now to sell a property and step out of the market while you find a new one, but what should you do with a huge sum of cash in the meantime?
Transcript
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| 0:00.0 | Welcome to This Is Money Podcast. I'm Georgie Frost and joining me and editor Simon Lambert. |
| 0:04.5 | Today is pensions and investment editor, Tanya Jeffries. And coming up, it might be 2,000 miles away. |
| 0:10.6 | But what's going on in Ukraine is impacting our finances back home. From petrol prices to mortgage rates, the cost of our groceries and energy bills, |
| 0:18.5 | Simon and Tanya will guide us through what Putin's invasion means |
| 0:21.6 | for your money. Elsewhere, the team have been chatting to experts about where to invest when |
| 0:26.2 | inflation is running hot, a victory for a couple in their 70s over the state pension blunder, |
| 0:31.4 | but others are under threat, and how to protect the money from a house sale when you've not |
| 0:35.7 | found another to buy yet. Don't forget you step to date with all the latest breaking money news, just go to this |
| 0:40.8 | ismoney.co.uk or download the app. But first, after months of expectation, the worst finally |
| 0:47.4 | happened, a full-scale Russian invasion of Ukraine. Now, there are plenty of other far more experienced |
| 0:52.7 | commentators that will pour over the wise and wherefores of the tragedy. |
| 0:56.0 | Instead, let's do what we do best on this pod and look at the financial matters. |
| 1:01.0 | Look at the effect that the war and subsequent economic sanctions against Vladimir Putin will have on our finances. |
| 1:07.0 | From pensions, investments, energy bills, petrol, mortgage rates, food prices, the list goes on. |
| 1:11.8 | Simon, awful, awful events. |
| 1:15.5 | Why does a war, thousands of miles away, affects so many things here? |
| 1:22.6 | Because of the magnitude of the event, it affects us a great deal. |
| 1:27.0 | It's because it involves Russia. It's |
| 1:28.8 | not just a war involving two countries a very long way away. It is a war involving Russia, |
| 1:33.7 | which is one of the world's superpowers. Its economy actually isn't that big, but Russia has a very |
| 1:40.5 | large influence on the world stage, as does Vladimir Putin, and it also happens to |
| 1:45.5 | have quite a lot of nuclear weapons. |
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