What is revenge saving and could it help you build up a pot of cash?
This is Money Podcast
This is Money
4.4 • 734 Ratings
🗓️ 26 September 2025
⏱️ 48 minutes
🧾️ Download transcript
Summary
This week, Lee Boyce, Simon Lambert and Georgie Frost dive into the world of revenge saving.
And while this new buzz-term does the rounds, we have a stab at making our version - the mind-trick savings method.
We discuss why you shouldn't get hung up on saving large amounts, chasing high interest rates and to visualise money like a snowball going downhill.
Meanwhile, we look at the little known government savings account that has seen £220m in bonus payments – could you benefit from opening one?
A current account with a 6 per cent savings rate but it’ll set you back a whopping £17 a month - can it really be worth it?
HMRC can now take money DIRECT from your bank account or Isa if you haven't paid taxes and Steve Webb answers a reader question: why can't I get my state pension on my 66th birthday?
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Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane
Producer: Georgie Frost
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Transcript
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| 0:00.0 | Welcome to This Is Money podcast sponsored by Charles Stanley Direct. |
| 0:06.4 | I'm Georgie Frost and joining me and Simon Lamber today is Lee Boyce. |
| 0:10.2 | And coming up, what on earth is revenge saving and why are more of us doing it? |
| 0:15.4 | We'll look at the latest social media money trend. |
| 0:18.0 | But hang on, actually we're meant to forget about revenge saving |
| 0:22.1 | and use a mind-trick saving method instead to build a healthy pot of cash. All will become clear, |
| 0:28.9 | I hope. Meanwhile, we look at the little-known government savings account that has seen |
| 0:32.8 | 220 million pounds paid out in bonus payments. Could you benefit from opening one? |
| 0:38.6 | And a current account with a 6% savings rate, but it'll set you back a whopping £17 a month. |
| 0:45.9 | Is it worth it? |
| 0:47.0 | Also today, HMRC can now take money directly from your bank account or ICER. |
| 0:52.2 | If you haven't paid your taxes, can't see any problems |
| 0:54.7 | there. Nationwide offers a bumper cash bonus for current account switches, and why won't I get |
| 1:00.0 | my state pension on my 66th birthday? Pension's agony uncle, Steve Webb, answers your questions. |
| 1:06.5 | Don't forget, it's up to date with all the latest breaking money news just to go to thisismoney.com. |
| 1:10.0 | Or download the app. |
| 1:13.1 | But first, a message from our sponsors. |
| 1:15.6 | You've probably heard Lisa Kaplan from Charles Stanley Direct on this podcast sharing her brilliant financial tips. |
| 1:21.5 | Well, now it's your turn. |
| 1:23.4 | With Charles Stanley direct's financial coaching service, you can speak to Lisa or one of her expert team one-to-one about your own money questions. |
| 1:32.0 | No jargon, no pressure, just clear practical guidance. |
| 1:35.5 | And the best bit, you can start with a free 15-minute call. |
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