Money Box

Car, home, travel and life insurance are just some of the policies we might take out to protect ourselves if the worst happens.

This year we've already seen floods followed by freezing temperatures and property claim pay outs hit £4.1 billion last year according to industry figures.

So this week we look at whether insurance companies step up when we need them, and more widely at the rising costs of insurance, particularly for motorists.

Felicity Hannah is joined by experts Mark Shepherd from the Association of British Insurers, and Sam Richardson, Deputy Editor of Which? Money.

Presenter: Felicity Hannah

(This programme was first broadcast at 3p.m. on Wednesday 22nd of January 2025)

A senior MP has backed calls to start automatically paying out hundreds of millions of pounds to young adults if they haven’t claimed government-backed child trusts funds by the time they turn 21. Sir Geoffrey Clifton-Brown, who is also chair of parliament’s Public Accounts Committee, says the move would help nearly half a million people born between 2002 and 2011 access one billion pounds of their own money that they don’t even know about. The government says the idea would be complex and costly.

There has been a lot of talk on the news about gilts and the bond market. We're joined by Russ Mould, the investment director of AJ Bell, to explain what a gilt is and whether you can buy one?

There's less than three months left to boost your state pension by to filling old gaps in your National Insurance record. At the moment people who have not yet reached pension age and those already on the new state pension can fill gaps in their record back as far as 2006. From this April that window will be shut. What should you do, if you think you've got gaps to fill?

And, the couple who boosted their income by more than a hundred pounds a week after listening to Money Box. Find out how they did it.

Presenter: Paul Lewis

(First broadcast 12pm Saturday 18th January 2025)

1 in 5 parents say they're struggling with the cost of sending their children to school according to the National Parent Survey.

There're uniform costs, school trips, afterschool clubs and school dinners to consider, but is there a way to keep costs down?

Some changes are on the way with government plans to give every parent of a child in a state primary school in England the legal right to a half hour breakfast club, as well as limits on how many branded uniform parents have to buy.

This week Felicity Hannah will hear from parents and is joined by Jo Thurston, parenting coach from Action for Children’s Parent Talk service,

Presenter: Felicity Hannah

(This programme was first broadcast at 3pm on Wednesday the 15th of January 2025)

The Government made a start this week on its manifesto promise to provide free breakfast clubs in every primary school in England. The Children's Wellbeing and Schools Bill got through its first big step in the House of Commons on Wednesday and will give every parent of a child in a state primary school in England the legal right to a half hour breakfast club for their children with food and childcare. Schools Minister Stephen Morgan speaks to Paul Lewis about the plans.

New research form the housing and homelessness charity Shelter, seen exclusively by this programme, suggests more than half of those facing housing worries have been kept awake at night over the past year due to concerns about things like high rents, poor conditions and the risk of eviction. What can be done to help them?

And millions of people who need to file a self assessment tax form have still not done it - and the deadline is less than three weeks away on January 31st. Listen for the Money Box guide on what you need to know.

Presenter: Paul Lewis

(First broadcast 12pm Saturday 11th January 2025)

Money Box Live broadcasts from Grange Crescent Residential Care Home in Sheffield for a special programme on the cost of care.

Unlike NHS services, social care is not free at the point of use. It costs an average of around £60,000 per year to live in a residential care home and considerably more if you need nursing care.

Last week the Department of Health and Social Care announced a new review into care costs, but the independent commission tasked with the job will not publish it's final report until 2028.

We'll be speaking to residents and family members about how they're paying their care bills and hearing from the care home manager about how it all works.

Joining Felicity Hannah is Claire Rintoul, CEO of the charity Sheffcare which operates Grange Crescent Residential Care Home as well as eight others in the city,

Presenter: Felicity Hannah

(This programme was first broadcast 3pm on Wednesday the 8th of January, 2025)

Temperatures have fallen below zero in much of the UK this week, just as gas and electricity prices rose. From New Year's Day the price cap set by the regulator Ofgem on every unit of power we use will mean the price for heating, washing and cooking for a typical household will rise by just over one per cent. A typical bill will go up £21 a year to £1,738. But, that is in fact 10% or £190 lower than the price cap set a year ago. How are people coping with costs this winter?

From New Year's Day the fees private schools charge parents will be subject to VAT at 20%. Previously private school fees were exempt. The Independent Schools’ Bursars Association has told Money Box that schools are raising fees from this term by between 13% and 18%, though some are absorbing the whole cost while others pass on the full amount raising fees by 20%. What impact will that have on schools and parents? The Treasury says pupils numbers at independent schools have remained steady since 2000, despite fees increasing by around 75% in real terms since then. We'll speak to Rudolf Eliott Lockhart - CEO of the Independent Schools Association.

From 1st January catching the bus could cost you 50% more. Single fares in England which had been capped at £2 have risen by a pound to a maximum of £3. What impact will that have on passengers?

And 'tis the season to be - taking things back. What are your refund rights?

Presenter: Paul Lewis

(First broadcast 12noon Saturday 4th January 2025)

There are 36 million pets in the UK, which doesn't include fish and other aquatics, and the cost of owning one can add up.

One of the biggest bills a pet owner can face is the price of taking their animal to the vet.

The Competition and Markets Authority launched an investigation earlier this year into whether people are paying too much and whether they are getting information about treatment options. It says the 'unprecedented response' it's had shows the strength of feeling.

Aside from that, there's the general cost of care like food and heating bills.

This week Felicity Hannah is joined by Dr. Elizabeth Mullineaux, dog owner, vet and current president of the British Veterinary Association and by Lisa Webb, dog and cat owner and senior lawyer at the consumer organisation Which?

We also hear from an award winning dog breeder, a cat and rabbit rescue centre and even head to a dog Christmas party - although we must point out, a pet is for life, not just for the festive season.

Presenter: Felicity Hannah

(This episode was first broadcast on Saturday the 28th of December 2024).

Electricity and gas suppliers say they're offering hundreds of millions of pounds of additional support for customers this winter. Energy prices will rise again on New Year's Day and the latest figures from the regulator Ofgem show customers already owe suppliers a record £3.7bn in unpaid bills. We'll look at what help customers might be able to get if they're struggling to pay their bills.

On Thursday the Bank of England kept the Bank Rate unchanged at 4.75%. We'll ask a mortgage broker what buyers can expect in 2025?

As a deadline approaches for government funded childcare hours for some working parents – how does it work and how can they apply?

We'll look back at some of the help given to Money Box listeners this year and hear music from the Barton Road Choir.

Presenter: Paul Lewis

(First broadcast at 12pm Saturday 21st December 2024)

Almost half of us are making money from side hustles according to the comparison site, Finder.

But how do they work, what do you need to do if you have one and when do you need to tell the tax office?

We will be meeting those using their hobbies to boost their bank balances this Christmas as well as clearing up the rules around selling on online platforms.

Joining Felicity Hannah is Helen Thornley from the Association of Tax Technicians and Vicks Rodwell of IPSE, the association for self-employed people.

(This episode was first broadcast at 3pm on Wednesday 18th December 2024)

Some councils in England are offering vouchers or money directly to pensioners who've lost out on the Winter Fuel Payment this year. The money is being offered as part of the Household Support Fund, which is money given by the government to local councils to use to help residents who're struggling with essential bills, like energy and food costs. Winter Fuel Payment can be £200 or £300, but this year it's means tested, meaning millions of people will no longer get it. Money Box has found that some pensioners may still be able to get help with their energy bills via their council, if they've just missed on qualifying but are still struggling. The government says over a million pensioners will still receive the Winter Fuel Payment and that its drive to boost Pension Credit take up has seen applications more than double with over 40,000 more pensioners now receiving it.

The law relating to how couples split their assets and provide for each other and any children after divorce was last changed in England and Wales more than fifty years ago. On Wednesday the Law Commission which advises the government on how well laws are working will publish its findings on whether the current rules deliver fair and consistent outcomes. If it finds problems it will make suggestions for how they might be solved. We'll discuss what those options might be.

And, we often talk about how hard it is for young people to afford buy their first home - but how easy is to manage finances once you get on the property ladder?

Presenter: Paul Lewis

(First broadcast 12noon Saturday 14th December 2024)