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The penny drops

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Want to know more about your money? The penny drops podcast is here to help you understand your money and make better informed financial decisions. Presenter and Broadcast Journalist Andrea Fox will be grilling financial experts on your behalf to get the best tips on topics such as savings, pensions, budgeting, debt and retirement. This podcast series is brought to you by Royal London, the UK’s largest mutual life, pensions and investment company.
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In the first ever episode of 'The penny drops', our host Andrea Fox speaks to TV and radio presenter, author, stand-up comedian and founder of self-help money website MoneyMagpie, Jasmine Birtles. We’re kicking off the podcast series with a look at the UK’s most asked money questions.  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 general financial information on the following sites:  Money Advice ServiceWebsite: www.moneyadviceservice.org.ukTelephone: 0800 138 7777  Citizen’s AdviceWebsite: www.citizensadvice.org.ukTelephone: 03444 111 444  Money Advice TrustWebsite: www.moneyadvicetrust.orgTelephone: 0808 808 4000  Please note that all topics discussed in this episode can vary depending on your personal circumstances and investments can go down as well as up, meaning you could get back less than you invest. Tax relief could also change and depends on individual circumstances (read the Which! guide on tax reliefs for more information). Any figures quoted were accurate at the time of recording (October 2019).
In this month’s episode of 'The penny drops', our host Andrea Fox speaks to Sarah Pennells, money expert, author and creator of the UK's leading women’s money website SavvyWoman. Covering everything from contributions to taxes, we’re going 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 about pensions and retirement on the following sites:  Pensions Advisory ServiceWebsite: www.pensionsadvisoryservice.org.ukTelephone: 0800 011 3797  Pension WiseWebsite: www.pensionwise.gov.ukTelephone: 0800 138 3944   Age UKWebsite: www.ageuk.org.uk/information-advice/money-legal/pensionsTelephone: 0800 055 6112  Money Advice ServiceWebsite: www.moneyadviceservice.org.uk/en/categories/pensions-and-retirementTelephone: 0800 138 7777  And you can read more about the difference between men and women’s pensions in this report from the Chartered Insurance Institute.  Please note that all topics discussed in this episode can vary depending on your personal circumstances, and the value of your pension investments can go down as well as up. Tax relief could also change and depends on individual circumstances (read the Which! guide on tax reliefs for more information). Any figures quoted were accurate at the time of recording (October 2019).
In this episode of 'The penny drops', our host Andrea Fox talks to personal finance journalist and savings whizz Emma Lunn. This month we're finding out everything you need to know about how to save 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 about saving on the following sites:Money Advice ServiceWebsite: www.moneyadviceservice.org.uk/en/categories/how-to-save-moneyTelephone: 0800 138 7777  StepChangeWebsite: www.stepchange.org/debt-info/your-financial-situation.aspxTelephone: 0800 138 1111Which!Website: www.which.co.uk/money/savings-and-isasPlease note that all topics discussed in this episode can vary depending on your personal circumstances, and the value of investments or savings can go down as well as up. Any figures quoted were accurate at the time of recording (October 2019).
In this episode of 'The penny drops', our host Andrea Fox joins finance journalist and BBC broadcaster Guy Kilty to talk end-of-life planning and why it’s important to think about it early on.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 end-of-life planning on the following sites:Dying Matters Website: www.dyingmatters.org/page/planning-ahead Telephone: 08000 21 44 66Age UK Website: www.ageuk.org.uk/information-advice/money-legal/end-of-life-planning Telephone: 0800 055 6112NHS Website: www.nhs.uk/conditions/end-of-life-careCruse Bereavement Care Website: www.cruse.org.uk Telephone: 0808 808 1677Bereavement Advice Centre Website: www.bereavementadvice.org Telephone: 0800 634 9494Royal London Money Guides: www.royallondon.com/articles-guides/learn/money-guides Bereavement Hub: www.royallondon.com/articles-guides/learn/bereavementPlease 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 (October 2019).
In this episode of 'The penny drops', our host Andrea Fox speaks to Bola Sokunbi, a certified financial education instructor and founder of Clever Girl Finance, an educational platform and personal finance website designed for women. We talk about everything from financial goals and money management to relationships, careers and family finances.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 the topics discussed in this episode on the following sites:Women’s financesInsuring Women’s Futures, Financial Wellbeing Guide: www.insuringwomensfutures.co.ukGood Money Week: www.goodmoneyweek.com/women Financially Fabulous Newsletter: www.financiallyfabulous.co.ukFamily planningRoyal London Guides: www.royallondon.com/media/good-with-your-money-guides/family-financial-planningManaging money with a partnerMoney Advice Service: www.moneyadviceservice.org.uk/en/articles/should-we-manage-money-jointly-or-separatelySaving and budgetingCitizens Advice: www.citizensadvice.org.uk/debt-and-money/budgeting/budgeting/work-out-your-budget Money Advice Service: www.moneyadviceservice.org.uk/en/categories/how-to-save-moneyInvestingMoney Advice Service: www.moneyadviceservice.org.uk/en/articles/investing-beginners-guideDebtStepChange: www.stepchange.orgGeneral supportRoyal London: www.royallondon.com/about-us/members/understanding-your-finances/news-and-insights/where-to-get-information-about-your-financesPlease note that all topics discussed in this episode can vary depending on your personal circumstances, and savings and investments can go up and down. Any figures quoted were accurate at the time of recording (January 2020).
Determination and motivation is something we can all struggle with, whether it's to do with our work, health, personal life or our finances. In this episode of 'The penny drops', our host Andrea Fox joins Mikael Lawal to talk about his journey from poverty to professional boxing, and how he’s managed personal and financial struggles along the way.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 the topics discussed in this episode on the following sites:Self-employmentGOV.UK: www.gov.uk/working-for-yourselfMoney Advice Service: www.moneyadviceservice.org.uk/en/categories/self-employmentBudgeting and savingMoney Advice Service: www.moneyadviceservice.org.uk/en/articles/beginners-guide-to-managing-your-moneyMoney worriesCitizens Advice: www.citizensadvice.org.uk/debt-and-moneyNational Debtline: www.nationaldebtline.org StepChange Debt Charity: www.stepchange.orgMental health supportMind: www.mind.org.ukNHS: www.nhs.uk/conditions/stress-anxiety-depression/mental-health-helplines Please note that all topics discussed in this episode can vary depending on your personal circumstances, and savings and investments can go up and down.This episode was recorded in January 2020 before the release of any UK Government guidance or restrictions put in place in relation to coronavirus. Any figures quoted were accurate at the time of recording.
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 supportMind: www.mind.org.uk Rethink Mental Illness: www.rethink.org Young Minds: youngminds.org.ukWork 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-sickDebt Citizens Advice: www.citizensadvice.org.uk/debt-and-money StepChange Debt Charity:www.stepchange.orgHealth 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-depressionUrgent helpIf 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.
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:InsuranceMoney Advice Service: www.moneyadviceservice.org.uk/en/categories/insurancePensionsPensions Advisory Service: www.pensionsadvisoryservice.org.ukSaving and investingMoney Advice Service: www.moneyadviceservice.org.uk/en/categories/saving-and-investingUtilitiesOfgem: www.ofgem.gov.ukSimple Energy Advice: www.simpleenergyadvice.org.ukGeneral informationFriends of the Earth: friendsoftheearth.ukWWF: www.wwf.org.ukEthical Consumer: www.ethicalconsumer.orgEnergy Saving Trust: energysavingtrust.org.ukThis 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.
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.
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 familyMoney Advice Service: www.moneyadviceservice.org.uk/en/categories/having-a-babyRoyal London: www.royallondon.com/media/good-with-your-money-guides/family-financial-planningAdoptionAdoption UK: www.adoptionuk.orgGOV.UK: www.gov.uk/child-adoptionSaving and budgetingMoney Advice Service: www.moneyadviceservice.org.uk/en/articles/baby-costs-calculatorTime off work, maternity and paternity leaveGOV.UK: www.gov.uk/browse/working/time-offChildcare costsChildcare Choices: www.childcarechoices.gov.ukMoney Advice Service: www.moneyadviceservice.org.uk/en/articles/childcare-costsGOV.UK: www.gov.uk/help-with-childcare-costs/free-childcare-and-education-for-2-to-4-year-oldsGOV.UK: www.gov.uk/tax-free-childcareBenefitsCitizens Advice: www.citizensadvice.org.uk/benefits/child-benefitMoney Advice Service: www.moneyadviceservice.org.uk/en/articles/benefits-and-entitlements-to-claim-when-you-have-a-babyProtecting your familyRoyal London: www.royallondon.com/articles-guides/your-money/making-a-willMoney Advice Service: www.moneyadviceservice.org.uk/en/categories/life-and-protection-insuranceSaving for your childrenMoney Advice Service: www.moneyadviceservice.org.uk/en/articles/childrens-savings-optionsFamily support charitiesFamily Lives: www.familylives.org.ukFamily Action: www.family-action.org.ukCare for the Family: www.careforthefamily.org.ukThis 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.
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 disabilitiesGOV.UK: www.gov.uk/financial-help-disabledCitizens Advice: www.citizensadvice.org.uk/benefits/sick-or-disabled-people-and-carers/benefits-for-people-who-are-sick-or-disabledNHS: www.nhs.uk/conditions/social-care-and-support-guide/money-work-and-benefits/work-and-disabilityMoney Advice Service: www.moneyadviceservice.org.uk/en/articles/charitable-grants-for-ill-or-disabled-people Disability charitiesScope: www.scope.org.ukDisability Grants: www.disability-grants.orgThe Disabilities Trust: www.thedtgroup.org Saving, budgeting and money management Money Advice Service: www.moneyadviceservice.org.uk/en/categories/budgeting-and-managing-moneyRoyal London: www.royallondon.com/articles-guides/your-money/budgeting Self-employment GOV.UK: www.gov.uk/working-for-yourselfMoney Advice Service: www.moneyadviceservice.org.uk/en/categories/self-employmentTurn2Us: www.turn2us.org.uk/Benefit-guides/Self-employment-and-benefits/Self-employment-and-benefits-Frequently-asked-ques Support for athletesSports Aid: www.sportsaid.org.ukTASS: 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 make and stick to a budgetWhen 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: BudgetingMoney Advice Service: www.moneyadviceservice.org.uk/en/tools/budget-plannerRoyal London: www.royallondon.com/articles-guides/your-money/budgeting Bills and expensesRoyal London: www.royallondon.com/articles-guides/your-money/how-to-cut-your-billsEnergy Saving Trust: energysavingtrust.org.uk DebtStepChange: www.stepchange.orgRoyal London: www.royallondon.com/about-us/members/understanding-your-finances/your-personal-finances/prioritising-your-debts BenefitsTurn2Us: benefits-calculator.turn2us.org.uk/AboutYouRoyal London: www.royallondon.com/about-us/members/understanding-your-finances/your-personal-finances/jargon-buster-state-benefits Employment and redundancyCitizens Advice: www.citizensadvice.org.uk/work/leaving-a-jobMoney Advice Service: www.moneyadviceservice.org.uk/en/categories/work-and-redundancy Coronavirus and your financesMoney 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.
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-willPlanning a funeralMoney 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-funeralPower of attorney GOV.UK: www.gov.uk/power-of-attorney Royal London: www.royallondon.com/articles-guides/your-money/power-of-attorneyEnd of life careNHS: www.nhs.uk/conditions/end-of-life-careBereavement support and benefitsCruse 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-benefitsWhen 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-diesThis 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.
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 retirementMoney Advice Service: www.moneyadviceservice.org.uk/en/categories/saving-for-retirementRetirement planning Royal London: www.royallondon.com/articles-guides/learn/pensions-and-retirement/retirement-planning-toolsRetirement Living Standards: www.retirementlivingstandards.org.ukWhich: www.which.co.uk/money/pensions-and-retirement/starting-to-plan-your-retirement/how-to-plan-for-retirement-a9tzg1h766h9Royal London: www.royallondon.com/articles-guides/your-money/retirementPension options Pension Wise: www.pensionwise.gov.uk/en/pension-pot-optionsThe Pensions Advisory Service: www.pensionsadvisoryservice.org.uk/about-pensions/retirement-choicesBudgeting in retirementMoney Advice Service: www.moneyadviceservice.org.uk/en/pensions-and-retirement/budgetingCoronavirus support Royal London: www.royallondon.com/coronavirus/your-financesMoney Advice Service: www.moneyadviceservice.org.uk/en/hub/coronavirus-money-guidanceThis 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.
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