The penny drops
Getting your financial year off to the right start

Getting your financial year off to the right start

January 10, 2021

Whether you’re one for making resolutions or not, the start of a new year is a good time to take stock of your finances. In this episode, host Andrea Fox joins Georgie Frost, award-winning financial journalist and radio presenter, and Josh Widdicombe, comedian, writer and co-host of Channel 4’s The Last Leg, to talk about the impact of the Covid-19 pandemic, self-employment and managing your finances in uncertain times, and how to set and stick to your money goals in the year ahead.

How can you find more information?

Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website, or visit Unbiased to find a trusted professional in your area.

You can also find lots of helpful information on some of the topics discussed in this episode on the following sites:

Saving and budgeting

Money Advice Service: www.moneyadviceservice.org.uk/en/tools/savings-calculator
Citizens Advice: www.citizensadvice.org.uk/debt-and-money/budgeting/budgeting/work-out-your-budget
Royal London: www.royallondon.com/articles-guides/your-money/budgeting

Cutting your bills

Money Advice Service: www.moneyadviceservice.org.uk/en/articles/how-to-save-money-on-household-bills
Energy Saving Trust: energysavingtrust.org.uk/energy-at-home

Paying off debt

StepChange: www.stepchange.org
Citizens Advice: www.citizensadvice.org.uk/debt-and-money/help-with-debt
Royal London: www.royallondon.com/articles-guides/your-money/debt

Managing your finances when you’re self-employed

GOV.UK: www.gov.uk/working-for-yourself
Money Advice Service: www.moneyadviceservice.org.uk/en/categories/self-employment

Coronavirus support

Royal London: www.royallondon.com/coronavirus/your-finances
Money Advice Service: www.moneyadviceservice.org.uk/en/hub/coronavirus-money-guidance

This episode was recorded in December 2020 during the coronavirus outbreak. For the latest information on financial support and benefits, visit gov.uk/coronavirus.

Please note that all topics discussed in this episode can vary depending on your personal circumstances. The value of investments can fall as well as rise and you could get back less then you pay in. Any figures quoted were accurate at the time of recording.

Getting through financial hardship

Getting through financial hardship

December 10, 2020

Any one of us can experience financial hardship because of an unexpected life shock. Things like losing a job, becoming ill or losing a loved one can have a huge impact on our finances and our lives. On this episode of ‘The penny drops’ Andrea Fox speaks to Duncan James, singer, actor and TV presenter best known for being part of the boyband Blue, who shares his personal story of financial hardship. Joining him is Jo Kerr, Director of Impact and Innovation at Turn2us, who guides us through the options and support available for people in need.

About Turn2us

Royal London has partnered with national charity Turn2us to help more people prevent a life shock from becoming a crisis. Turn2us helps millions of people in financial hardship each year, supporting them to get access to benefits, grants and support services. You can find out more about their services by visiting the website – www.turn2us.org.uk – or you can call the free helpline on 0808 802 2000 (open 9am – 5pm, Monday – Friday).

How can you find more information?

Royal London recommends you seek professional independent financial advice before making financial decisions, if you are able to. You can learn more about the value of financial advice on our website, or visit Unbiased to find a trusted professional in your area.

For more support and information on the topics discussed in this episode, including financial help and guidance and mental health support, visit the following websites: 

Mental health support

Mind
Website: www.mind.org.uk
Telephone: 0300 123 3393

Help with debt

StepChange
Website: www.stepchange.org
Telephone: 0800 138 1111

General financial information and support

Citizens Advice
Website: www.citizensadvice.org.uk
Telephone: 0800 144 8848 (England), 0800 702 2020 (Wales)

Money Advice Service
Website: www.moneyadviceservice.org.uk
Telephone: 0800 138 7777 (England), 0800 138 0555 (Wales)

This episode was recorded remotely in November 2020 during the coronavirus outbreak. For the latest information on financial support and benefits, visit gov.uk/coronavirus. Please note that all topics discussed in this episode can vary depending on your personal circumstances. Any figures quoted were accurate at the time of recording.

Everything you need to know about retirement planning

Everything you need to know about retirement planning

November 23, 2020

What sort of lifestyle do you want in retirement? Are you already taking steps to get there, or do you feel there are more important things to worry about right now? In this episode, our host Andrea Fox joins Sarah Pennells, head of financial capability and guidance at Royal London, for the second time to discuss why retirement planning is so important – covering everything from what you need to think about before you retire, to budgeting in retirement and your options when you reach pension age. To hear more from Sarah, listen to our episode from December 2019 where we go back to basics on pensions.

How can you find more information?

Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website, or visit Unbiased to find a trusted professional in your area.

You can also find lots of helpful information on retirement on the following sites:

Saving for retirement

Money Advice Service: www.moneyadviceservice.org.uk/en/categories/saving-for-retirement

Retirement planning

Royal London: www.royallondon.com/articles-guides/learn/pensions-and-retirement/retirement-planning-tools

Retirement Living Standards: www.retirementlivingstandards.org.uk

Which: www.which.co.uk/money/pensions-and-retirement/starting-to-plan-your-retirement/how-to-plan-for-retirement-a9tzg1h766h9

Royal London: www.royallondon.com/articles-guides/your-money/retirement

Pension options

Pension Wise: www.pensionwise.gov.uk/en/pension-pot-options

The Pensions Advisory Service: www.pensionsadvisoryservice.org.uk/about-pensions/retirement-choices

Budgeting in retirement

Money Advice Service: www.moneyadviceservice.org.uk/en/pensions-and-retirement/budgeting

Coronavirus support

Royal London: www.royallondon.com/coronavirus/your-finances

Money Advice Service: www.moneyadviceservice.org.uk/en/hub/coronavirus-money-guidance

This episode was recorded in July 2020 during the coronavirus outbreak. For the latest information on financial support and benefits, visit gov.uk/coronavirus.

Please note that all topics discussed in this episode can vary depending on your personal circumstances, and the value of investments can go down as well as up (meaning you could get back less than you pay in). Any figures quoted were accurate at the time of recording.

Why we should all be talking about death

Why we should all be talking about death

October 5, 2020

Death isn’t something we often like to talk about. But it impacts everyone – emotionally, practically and financially – so it’s a topic that we all should all take more time to think about. For some, this year’s coronavirus pandemic may have prompted these thoughts already and now, more than ever, it’s important we talk.

On this episode, Andrea Fox is joined by two special guests, TV presenter and published author Jeff Brazier and photographer and filmmaker Rankin, to have an open conversation about death and how we can all feel more comfortable discussing it.

How can you find more information?

Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website, or visit Unbiased to find a trusted professional in your area.

Listen to our podcast on ‘Why planning for death is so important’, released in February 2020, for more information on financially preparing for death. You can also find lots of helpful guidance and support on the following sites:

Making a will

Will Aid: www.willaid.org.uk
Royal London: www.royallondon.com/articles-guides/your-money/making-a-will

Planning a funeral

Money Advice Service: www.moneyadviceservice.org.uk/en/articles/help-paying-for-a-funeral
Citizens Advice: www.citizensadvice.org.uk/family/death-and-wills/funeral-services/arranging-a-funeral
Royal London: www.royallondon.com/articles-guides/learn/bereavement/what-to-do-when-someone-dies/paying-for-a-funeral

Power of attorney

GOV.UK: www.gov.uk/power-of-attorney
Royal London: www.royallondon.com/articles-guides/your-money/power-of-attorney

End of life care

NHS: www.nhs.uk/conditions/end-of-life-care

Bereavement support and benefits

Cruse Bereavement Care: www.cruse.org.uk
Mind: www.mind.org.uk/information-support/guides-to-support-and-services/bereavement
Age UK: www.ageuk.org.uk/information-advice/money-legal/benefits-entitlements/bereavement-benefits

When someone dies

Money Advice Service: www.moneyadviceservice.org.uk/en/categories/when-someone-dies
Citizens Advice: www.citizensadvice.org.uk/family/death-and-wills/what-to-do-after-a-death
Royal London: www.royallondon.com/articles-guides/your-money/when-someone-dies

This podcast was recorded in September 2020 during the coronavirus outbreak. For the latest information on financial support and benefits, visit gov.uk/coronavirus

Please note that all topics discussed in this episode can vary depending on your personal circumstances. Any figures quoted were accurate at the time of recording.

How to make and stick to a budget

How to make and stick to a budget

September 1, 2020

How to make and stick to a budget

When it comes to your personal finances, what does the word ‘budget’ mean to you? And would you know where to start if you had to put one together? In this episode, our host Andrea Fox talks to Kalpana Fitzpatrick, finance editor at Hearst UK for brands like Good Housekeeping, Red and Prima magazine, money expert on the BBC’s Money 101 podcast, and founder of Mummy Money Matters, an award-winning website that helps families with money.

 

How can you find more information?

Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website, or visit Unbiased to find a trusted professional in your area.

You can also find lots of helpful information on some of the topics discussed in this episode on the following sites:

 

Budgeting

Money Advice Service: www.moneyadviceservice.org.uk/en/tools/budget-planner

Royal London: www.royallondon.com/articles-guides/your-money/budgeting

 

Bills and expenses

Royal London: www.royallondon.com/articles-guides/your-money/how-to-cut-your-bills

Energy Saving Trust: energysavingtrust.org.uk

 

Debt

StepChange: www.stepchange.org

Royal London: www.royallondon.com/about-us/members/understanding-your-finances/your-personal-finances/prioritising-your-debts

 

Benefits

Turn2Us: benefits-calculator.turn2us.org.uk/AboutYou

Royal London: www.royallondon.com/about-us/members/understanding-your-finances/your-personal-finances/jargon-buster-state-benefits

 

Employment and redundancy

Citizens Advice: www.citizensadvice.org.uk/work/leaving-a-job

Money Advice Service: www.moneyadviceservice.org.uk/en/categories/work-and-redundancy

 

Coronavirus and your finances

Money Advice Service: www.moneyadviceservice.org.uk/en/tools/money-navigator-tool

 

This podcast was recorded remotely in July 2020 during the coronavirus outbreak. For the latest information on financial support and benefits, visit gov.uk/coronavirus.

Living, growing and thriving with a disability

Living, growing and thriving with a disability

August 3, 2020

In this episode of 'The penny drops', our host Andrea Fox joins Paralympian Sam Ruddock to talk sports, big ambitions, managing finances as an athlete and living with a disability. Born with a form of cerebral palsy that impacts his flexibility, coordination and balance, Sam has gone on to become a track, field and cycling athlete for Great Britain, and made his international sporting debut at the London 2012 Paralympics.

 

How can you find more information?

Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website, or visit Unbiased to find a trusted professional in your area.

 

You can also find lots of helpful information on some of the topics discussed in this episode on the following sites:

 

Financial support for people with disabilities

GOV.UK: www.gov.uk/financial-help-disabled

Citizens Advice: www.citizensadvice.org.uk/benefits/sick-or-disabled-people-and-carers/benefits-for-people-who-are-sick-or-disabled

NHS: www.nhs.uk/conditions/social-care-and-support-guide/money-work-and-benefits/work-and-disability

Money Advice Service: www.moneyadviceservice.org.uk/en/articles/charitable-grants-for-ill-or-disabled-people

 

Disability charities

Scope: www.scope.org.uk

Disability Grants: www.disability-grants.org

The Disabilities Trust: www.thedtgroup.org

 

Saving, budgeting and money management

Money Advice Service: www.moneyadviceservice.org.uk/en/categories/budgeting-and-managing-money

Royal London: www.royallondon.com/articles-guides/your-money/budgeting

 

Self-employment

GOV.UK: www.gov.uk/working-for-yourself

Money Advice Service: www.moneyadviceservice.org.uk/en/categories/self-employment

Turn2Us: www.turn2us.org.uk/Benefit-guides/Self-employment-and-benefits/Self-employment-and-benefits-Frequently-asked-ques

 

Support for athletes

Sports Aid: www.sportsaid.org.uk

TASS: www.tass.gov.uk

 

This month’s episode was recorded in May 2020 during the coronavirus outbreak. For up to date information on benefits and financial support being offered by the Government, please visit gov.uk/coronavirus.

 

Please note that all topics discussed in this episode can vary depending on your personal circumstances. Any figures quoted were accurate at the time of recording.

How to plan and manage family finances

How to plan and manage family finances

July 1, 2020

In this episode of 'The penny drops', our host Andrea Fox talks family finances with Rich Edwards, one half of the hugely popular Two Dads in London blog, and Becky O’Connor, a Personal Finance Specialist at Royal London. This month we discuss the financial implications of having a family, from planning your first child to growing your family and preparing for the long term.

How can you find more information?

Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website, or visit Unbiased to find a trusted professional in your area.

You can also find lots of helpful information on family finances on the following sites:

Planning a family
Money Advice Service: www.moneyadviceservice.org.uk/en/categories/having-a-baby
Royal London: www.royallondon.com/media/good-with-your-money-guides/family-financial-planning

Adoption
Adoption UK: www.adoptionuk.org
GOV.UK: www.gov.uk/child-adoption

Saving and budgeting
Money Advice Service: www.moneyadviceservice.org.uk/en/articles/baby-costs-calculator

Time off work, maternity and paternity leave
GOV.UK: www.gov.uk/browse/working/time-off

Childcare costs
Childcare Choices: www.childcarechoices.gov.uk
Money Advice Service: www.moneyadviceservice.org.uk/en/articles/childcare-costs
GOV.UK: www.gov.uk/help-with-childcare-costs/free-childcare-and-education-for-2-to-4-year-olds
GOV.UK: www.gov.uk/tax-free-childcare

Benefits
Citizens Advice: www.citizensadvice.org.uk/benefits/child-benefit
Money Advice Service: www.moneyadviceservice.org.uk/en/articles/benefits-and-entitlements-to-claim-when-you-have-a-baby

Protecting your family
Royal London: www.royallondon.com/articles-guides/your-money/making-a-will
Money Advice Service: www.moneyadviceservice.org.uk/en/categories/life-and-protection-insurance

Saving for your children
Money Advice Service: www.moneyadviceservice.org.uk/en/articles/childrens-savings-options

Family support charities
Family Lives: www.familylives.org.uk
Family Action: www.family-action.org.uk
Care for the Family: www.careforthefamily.org.uk

This month’s episode was recorded in May 2020 during the coronavirus outbreak. For up to date information on benefits and financial support being offered by the Government, please visit gov.uk/coronavirus.

Please note that all topics discussed in this episode can vary depending on your personal circumstances. Any figures quoted were accurate at the time of recording.

Bonus episode: cricket careers, overcoming challenges and life in lockdown

Bonus episode: cricket careers, overcoming challenges and life in lockdown

June 16, 2020

In this bonus episode of 'The penny drops', recorded as an official part of Royal London’s title sponsorship of One-Day International Cricket, our host Andrea Fox speaks to two English cricket stars.

Jonny Bairstow plays domestically for Yorkshire and internationally for England, and was part of the 2019 ICC Cricket World Cup winning team. Also a World Cup winner, Ebony Rainford-Brent – now retired – was captain of the Surrey women’s team and the first black woman to play for the England team.

We talk about career highs and lows, lessons learned, challenges overcome, and ambitions and goals for the future, as well as initiatives such as the African Caribbean Engagement Programme, and creating more opportunities for women and children in cricket. Recorded during the coronavirus outbreak, we also discuss how life has changed in lockdown, staying mentally and physically healthy, and at-home training tips for active or aspiring cricketers.

This month’s episode was recorded in May 2020, during the coronavirus outbreak. For up-to-date information and guidance offered by the Government, please visit gov.uk/coronavirus.

Making ethical choices with your money

Making ethical choices with your money

May 31, 2020

In this episode of 'The penny drops', our host Andrea Fox joins Rob Harrison, founder of Ethical Consumer – a not-for-profit organisation focused on ethical consumption, trade justice and companies’ social, ethical and environmental behaviour. This month we speak about the different ways we can be more ethical and sustainable with our money, from day-to-day spending to financial products.

How can you find more information?

Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website, or visit Unbiased to find a trusted professional in your area.

You can also find lots of helpful information on some of the topics discussed in this episode on the following sites:

Insurance
Money Advice Service: www.moneyadviceservice.org.uk/en/categories/insurance

Pensions
Pensions Advisory Service: www.pensionsadvisoryservice.org.uk

Saving and investing
Money Advice Service: www.moneyadviceservice.org.uk/en/categories/saving-and-investing

Utilities
Ofgem: www.ofgem.gov.uk
Simple Energy Advice: www.simpleenergyadvice.org.uk

General information
Friends of the Earth: friendsoftheearth.uk
WWF: www.wwf.org.uk
Ethical Consumer: www.ethicalconsumer.org
Energy Saving Trust: energysavingtrust.org.uk

This month’s episode was recorded in February 2020, before any Government restrictions were put in place in relation to coronavirus. For up-to-date information on travel and financial support being offered by the Government, please visit gov.uk/coronavirus.

Please note that all topics discussed in this episode can vary depending on your personal circumstances. Any figures quoted were accurate at the time of recording.

Money and your mental health

Money and your mental health

May 3, 2020

In this episode of 'The penny drops', our host Andrea Fox talks to fashionpreneur and mental health campaigner George David Hodgson and Brian Semple, Head of External Affairs at the independent charity Money & Mental Health. This month we look at how our finances can affect our mental health, and vice versa, with lots of helpful tips on everything from employee rights to where to go for support.

How can you find more information?

Royal London recommends you seek professional independent financial advice before making financial decisions. You can learn more about the value of financial advice on our website, or visit Unbiased to find a trusted professional in your area.

You can also find lots of helpful information about finances and mental health, some of which are mentioned in this episode, on the following sites:

General support
Mind: www.mind.org.uk
Rethink Mental Illness: www.rethink.org
Young Minds: youngminds.org.uk

Work and employment
Mind: www.mind.org.uk/information-support/legal-rights/discrimination-at-work/telling-my-employer
Citizens Advice: www.citizensadvice.org.uk/work/rights-at-work/sick-pay/getting-money-when-youre-off-work-sick

Debt
Citizens Advice: www.citizensadvice.org.uk/debt-and-money
StepChange Debt Charity:www.stepchange.org

Health services and support groups
Mind: www.mind.org.uk/about-us/local-minds/local-minds
NHS, GP Services: www.nhs.uk/using-the-nhs/nhs-services/gps
NHS, Mental Health and Wellbeing: www.nhs.uk/conditions/stress-anxiety-depression

Urgent help
If you need to speak to someone, you can call the Samaritans anytime, day or night, on 116 123.

This month’s episode was recorded in February 2020, before any Government restrictions were put in place in relation to coronavirus. For more information on the new measures and financial support being offered by the Government, please visit gov.uk/coronavirus.

Please note that all topics discussed in this episode can vary depending on your personal circumstances. Any figures quoted were accurate at the time of recording.

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