The big mistake many make when saving or investing for their children…
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This BBC podcast is supported by ads outside the UK. Oma varallisuus on elämämme henkilökohtaisimpia asioita. Kun se luottaa toisen hoidettavaksi, pitää sen olla henkilökohtaista myös hänelle. Me OP Privatella ymmärrämme tämän hyvin. Myös jokaisella meistä on oma taloutemme, jota huolellisesti vaalimme. Samalla sitoutumisella suhtaudumme myös sinun varojesi hoitoon. OP Private. Otamme varojesi hoidon henkilökohtaisesti. Tutustu palveluun op.fi kautta private. Varainhoidon tarjoaa Osuspankki tai OP Varainhoito Oy. Jätä arki satamaan.
I can only hope it succeeds in getting more for consumers. We are a nation of savers, not investors. They need to make a big point. They're just giving me love and only protecting from love. There is a rule on money put away by parents for under 18s. 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. Now, usually much of it comes from my BBC Radio 5 live show with Adrian Childs, but there's also bonus money-saving tips just for you lucky, lucky podcast listeners. In today's pod, it's a big ickle topic. How to save or invest for your children's future. Junior Isis, children's savings, regular savings, and what is the biggest mistake most parents make?
There's car finance compensation news as a claimed law firm has announced it will take the regulator to court to try and increase consumers' payments. But that could slow things down. And we as a nation underinvest. The government and investment firms are about to launch a campaign to change that. Will it work? Tell us this week, what's the cheapest thing you've ever taken back to a shop to complain about? You're going to love those. Play the theme tune.
When I was walking into Broadcasting House today, I was quite shocked because there were just huge amounts of crowds outside BBC Broadcasting House. Many, many people, and I couldn't quite work out why. First of all, I assumed that obviously you may have been late to the studio and they hadn't seen you yet, so it was your normal crowd who hadn't dispersed. But then it turned out you're not in the London studio, so it wasn't that. It's chaos in Cardiff, by the way.
Is it?
How many security do you have?
I don't bother with it because I'm a man of the people, but I mean, there's thousands of people.
And you're hard in your own right.
I mean, you could take everything for yourself. Well, but no, they're just giving me love. I'm only protecting from love. So anyway, go on. Who was it?
So then I asked, and apparently it's the cast of The Devil Wears Prada. But in Mastermind today, Adrian, it is not the devil wears Prada. It's the devil wears mid-range, unspecified brand high street clothing. Right. Because the question that you have today is all about credit and debt. So there you go. That gives you plenty of time to do your preparation to make sure you get it right.
OK. So, Martin, I heard there was something that happened with car finance and I was listening to the radio yesterday and then I kind of, I just thought, oh, I can't bother to listen. Martin will explain tomorrow. So now's your chance. What has happened with it?
So, well, there's a sort of irony here because... My suspicion is, look, let's go plain first. If we have this new mass redress scheme that was launched by the regulator, the FCA, and the idea of the mass redress scheme is it will cover people not only who complain, though you should always, and this changes nothing, get your complaint in. If you bought a car on finance since April 2007 and November 2024 and it was PCP or higher purchase finance, you should be putting a complaint in now because if you put a complaint in, you're likely to be paid out quicker than those people who haven't put a complaint in. So that changes nothing. If that's you, there are free tools online. You can go and put a complaint in and you should consider doing so because it will speed everything up.
So we have this mass redress scheme and the mass redress scheme is designed both to help people who complain and that you don't need to use a firm to complain, but also that firms must go and they must seek out and search people that were missold who haven't complained, which is what makes it unique and it's why I'm supporting it.
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