Money Box Live: Making savings work for you
Money Box
BBC
4.2 • 825 Ratings
🗓️ 5 October 2022
⏱️ 28 minutes
🧾️ Download transcript
Summary
The UK Inflation rate has hit 10.1%, the highest it’s been for 40 years, and it’s set to go even higher.
In this programme, our panel of experts hear about your saving habits and answer your questions on how to protect your savings from the record levels of inflation we now have.
Sarah Coles, senior personal finance analyst at Hargreaves Lansdown, Mat Megens, CEO and founder of HyperJar, and Bukiie Smart, personal finance expert, will answer your questions.
Presenter: Adam Shaw Producer: Amber Mehmood Editor: Jess Quayle
(First broadcast 3pm Wednesday 7th September, 2022)
Transcript
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| 0:00.0 | On a winter's night in 1974, a crime took place that would obsess the nation. |
| 0:07.0 | It was an extraordinary news story. |
| 0:09.0 | The story of an aristocrat, Lord Lucan, who's said to have killed the family Nanny, |
| 0:14.0 | mistaking her for his wife, then somehow just disappeared. |
| 0:18.0 | One of the great mysteries in English criminal history. We're still looking for |
| 0:21.7 | Lucan. It's honestly one of the most powerful stories of my lifetime. I'm Alex Fontunzelman. This is |
| 0:27.8 | the Lucan Obsession. Listen on BBC Sounds. BBC Sounds, music, radio, podcasts. Welcome to this Moneybox Live podcast, the programme about your money. |
| 0:41.6 | Today we're looking at how to protect your savings from the record levels of inflation |
| 0:45.9 | we're now facing and manage your money during one of the worst affordability crises in living |
| 0:51.2 | memory. |
| 0:52.4 | Inflation hasn't been this high for 40 years, and at the current |
| 0:56.3 | rate, if you do nothing, £1,000 of savings would be worth just over £900 within a year. |
| 1:03.4 | And if inflation stayed this high, your savings would have lost around 60% of their value |
| 1:08.1 | in 10 years. |
| 1:09.9 | Now, the cost of food, fuel, energy, mortgage and rents are of course |
| 1:13.3 | all rising fast. It's forcing families to make some very hard choices about how to use what |
| 1:19.7 | money they have. Well, Nikki from Cheshire is on the line. Her family are having to make some hard |
| 1:25.1 | choices about their budget. But I understand managing to save with the help of a special government scheme called Help to Save. |
| 1:32.1 | So welcome, Nikki. |
| 1:33.8 | Thanks for joining us. |
| 1:34.9 | Just tell me a little bit about your situation. |
| 1:36.8 | Good afternoon. |
... |
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