Money Box Live: Your spending habits
Money Box
BBC
4.2 • 825 Ratings
🗓️ 23 November 2022
⏱️ 30 minutes
🧾️ Download transcript
Summary
Food prices are rising at their fastest rate for more than 40 years. Figures out this week from the Office of National Statistics the price of budget food is up 17% in the 12 months to September - with big increases in the cost of basic ingredients like bread, pasta, cooking oil and tea. Add spiking transport, rent, mortgage and energy costs to that - and the squeeze on household finances couldn’t be clearer. We’re looking at what the higher cost of living is doing to our spending behaviour. We’ll be hearing how some of you are keeping costs down - and also looking at potential options for financial support.
Charmaine Cozier will be joined by experts, Krystle McGilvery, a Behavioural Finance Consultant, and Michael Clarke, Head of Information Programmes at Turn2us.
Email us now with your experiences to moneybox@bbc.co.uk
Presenter: Charmaine Cozier Producer: Amber Mehmood Researcher: Star McFarlane Editor: Justin Bones
(First broadcast 3pm, Wednesday 26th October, 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. Hello and welcome to the latest edition of Moneybox Live, the podcast about you and your financial life. |
| 0:43.0 | This week we're looking at what the higher cost of living is doing to our spending behaviour. |
| 0:47.6 | It comes as budget food prices rise at their fastest rate for more than 40 years. |
| 0:52.9 | The latest figures from the Office for National |
| 0:54.9 | Statistics show it's up 17% in the 12 months to September, with steep rises in the cost |
| 1:00.7 | of basic ingredients like bread, pasta, cooking oil and tea. Add spiking transport, rent, mortgage |
| 1:07.5 | and energy costs to that, and the squeeze on household finances couldn't be clearer. |
| 1:12.5 | Our guests are Crystal McGilvery, a chartered accountant and behavioural finance consultant. |
| 1:18.0 | Hello Crystal, let's start with your job title. What is behavioural finance? |
| 1:23.5 | Yes, so behavioural finance is all about understanding psychologically the reasons for your decisions in the space of your finance. |
| 1:31.3 | And what does your work involve? Who do you work with? |
| 1:35.3 | A few. So I work with people one-on-one, helping them gain financial confidence, which from my experience is key to financial well-being. |
| 1:45.5 | I work also with organisations both on financial well-being |
| 1:49.4 | and on financial decision-making for the business itself. |
| 1:53.1 | So starting the psychological side and then given the tools to make the good decisions. |
| 1:58.0 | And also with us is Michael Clark. |
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