“I Don’t Get Money!” Back-to-basics special on pensions, savings, car insurance, energy and more
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What is the main topic discussed in this episode?
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Kyllä, se on lempeä kesä nyt, kun elämänmaku on kaikista makein. Mieli kuin nuorena tyttönä kaurapellolla, kun saa liihottaa. Nauti vaan ja ota väli pala välissä. Ai, ai, ai, ai, niin se on. Eloveena. Täyttä eloa.
You also get interest on the £100 interest you earned in the first year. You would have doubled your money within seven years. Because of the interest on the interest means everything grows quicker. I would prefer an imperfect Section 75 to no Section 75.
It's not something physical that you can hold in your hand.
Let's say not. Hello, I'm Martin Lewis and this is the cunningly named The Martin Lewis Podcast. I do wonder what that's going to be about. And today it's an I don't get money pod only special. I ask you to tell me what are the things about finance you just can't get your head around. And today I'm going to try and help you understand it. A back to basics if you like. And the questions we're going to cover include... How do pensions work? When you get an energy bill, what is a unit of energy actually? What's the difference between saving and investing? And isn't investing just gambling? Why doesn't Section 75 credit card protection include additional cardholders? Why does my car insurance cost go up if I have a no-fault accident?
Who's responsible for faulty items? Is it the retailer or is it the manufacturer? And finally, what is a bond? Play the theme tune.
I've got bills I've got to pay So I'm going to work, work, work, work I've got a mouth I've got feet So I'm going to make sure everybody eats
OK, so we're pod only today and this is a tell us special. It's all about what do you not get about money? And we're going to go through a whole potpourri of subjects. Now, what I specifically put out is I asked you, what is it about money, personal finance and consumer rights that you just can't get your head around? I want to go back to basics this week with easy, practical explainers. So do get in touch. We were fascinated. I'm flooded with your questions, and I've got in front of me a list of the order of which came up most commonly. By far, the biggest was all about pensions. It's pensions that many of you just don't seem to be able to get your heads around, so we're going to try and help that.
Also, then it was savings and investing, then energy and bills, then inheritance and family protection, followed by credit scores and credit cards, insurance, tax, self-assessment, then student finance, followed by broadband, and finally consumer rights. We're going to try and get as many of those as we possibly can in today and we've had such a good response i'm probably going to do a part two on this next week to answer some more of your questions joining me today in this pod only special well who else could it be it's podcast producer simon hello si how are you i'm excellent thank you i'm delighted to be speaking to you the sun's shining we're all good quick question yes You've got a big list, I mean, a really big list of questions, so much so in this I Don't Get Money special.
I think we'll probably be doing part two next week. What do you think's best? Should we be going through this topic by topic or should we be taking a potpourri, a selection out so we get a really broad spread of questions answered today?
I like to cover as many topics as possible. I think it's good to get as much information out there on various different places. And I like the word potpourri.
Okay, right. Well, it just brings up everything smelling of roses.
So what's your first question? Louise has got in touch. She wants to know about investing versus saving. Plus, because she can't explain it, a very simple definition of compound interest. I still see investing in the stock market just like gambling. And that's because 80% of the market is speculation. It just feels too far removed from real things. After all, it's not the profit a company makes. How are all the tech companies worth billions when they don't make any money?
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–5:33
2
What does Martin cover in this 'I Don’t Get Money' back-to-basics special?
5:33–19:12
3
How do saving and investing differ and when should I choose each?
19:12–37:11
4
Is investing the same as gambling and how does speculation differ from investing?
37:11–42:30
Speakers
5 identifiedMore from The Martin Lewis Podcast
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Question Time: Am I short-changing my kids’ savings? How to stop loans for gambling addict? Does Section 75 work with vouchers?
Time to save for kids’ uni? Time to refix your energy tariff? Plus more back-to-reality issues
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