Money Box: Your toolkit for balancing your budget, growing your bank balance and living a better financial life

Product Information

The presenter of Money Box on BBC Radio 4 and the son of two teachers, there isn’t much he doesn’t know about money.

In some ways, you might think it’s a good thing that we’re being families again and looking after one another. To get a good pension – by which I mean around half to two thirds of your income when you were working – you have to be saving 25 per cent, ideally from day one. If you are renting, then you’re working from Monday until possibly Wednesday lunchtime to pay your landlord. My problem is that the fear of losing money is so much greater to me than the pleasure of making it, that I’m much happier when my money is just sitting there getting a little bit bigger every year.For over 40 years, Money Box has been arming you with the most up-to-date knowledge, giving you the confidence to take on the financial world. Interest rates have gone up, but even so, unless you’ve got a large amount of money – tens of thousands of pounds – you will still be better off in the non-Isa. If you have already used your withdrawal for the month, the next time you will be able to withdraw is the 1st of the following month.

Despite attempts by the Government – still wending their glacial way through Parliament after four years of discussion – it is almost impossible to regulate publishers who have no real physical place on Earth. We do not make, nor do we seek to make, any recommendations or personalised advice on financial products or services that are regulated by the FCA, as we’re not regulated or authorised by the FCA to advise you in this way. You won't be compensated for investments falling in value, or a company in which you hold shares goes bust, unless this poor performance resulted from bad advice given by a regulated Independent Financial Advisor that has since gone bust. The growing divide between people who are doing very well and people who were doing middling and low is causing great unhappiness.Best known as the presenter of Money Box and Money Box Live on BBC Radio 4, Paul is an award-winning financial journalist and broadcaster. There are a lot of employers who pay more than the auto enrolment limit, which starts at 3 per cent of an employee’s salary. As our salaries are going up, and the minimum wage is increasing, more people end up paying more tax because of the freeze. Try to find a way to boost the equity in your home or the size of your deposit: anything that means you borrow less.

We started Moneybox because people are growing up without the tools and information they need to build their financial futures. And if you are saying, “Look, inflation is nearly 11 per cent, I think I need a pay rise”, and your employer says: “Okay, well I’ll give you a bit extra, a few per cent, but I can’t afford more,” you could then ask for them to add a few more per cent into your pension.

He is Saga Magazine’s longest serving contributor, having written for and edited its money section since 1984. This year and next we’ll all be paying more of it ­because the amount of tax-free income you can have has been frozen, as well as the thresholds for the different tax rates, and this will continue until 2028.

Now people are waiting to have their first baby – if they’re going to have children – which can cause tensions. Pensions are great for people on high incomes, because they get huge tax relief of whatever rate they pay. The average home costs almost 10 times the average salary, when in the 1970s it used to be about three to three-and-a-half times average pay – this is why home ownership is plummeting. The information below gives an at-a-glance view of the key things that Moneybox accounts and services offer. Paul answers all of your questions, breaking down complicated financial jargon into simple, understandable nuggets of useful information.Optimise Media Limited (FRN 313408), for the introduction of HSBC Group, who are authorised and regulated by the Financial Conduct Authority to provide credit brokering activity. The Simple Saver is a savings account that allows you to save and withdraw flexibly, with one withdrawal per… What happens when I want to withdraw from my savings account? He has also frequently appeared on various BBC television and radio programmes including Breakfast, BBC News, Today and World at One as an expert on financial services. Moneybox is regulated by the Financial Conduct Authority and covered by the Financial Services Compensation Scheme (FSCS).