Money Box

Vic Rayner, Chair of the Care Providers Alliance and CEO of the National Care Forum, discusses the financial challenges of social care in England. He highlights the average annual cost of residential care homes, emotional tales from families navigating care fees, and the disparities between self-funded and council-funded services. The conversation also delves into the complexities of financing care, particularly with dementia, stressing the urgent need for improved funding and community support to tackle these rising costs.

Rudolf Eliott Lockhart, CEO of the Independent Schools Association, discusses the significant impact of a new 20% VAT on private school fees. He highlights how schools are responding with fee increases between 13% and 20%, which adds financial stress for parents already grappling with rising energy costs this winter. With typical household energy bills set to rise slightly, Lockhart examines coping strategies families are employing amid these financial pressures, while also touching on the broader implications for the education sector.

Dr. Elizabeth Mullineaux, a veterinarian and president of the British Veterinary Association, shines a light on the staggering costs of pet ownership in the UK, where there are 36 million pets. She discusses the burden of veterinary bills and the recent investigation into pricing practices. The conversation also touches on the financial impact of trends in pet care, the importance of responsible breeding, and the emotional toll of unexpected expenses. Listeners hear heartwarming stories from a rescue center and insights into the festive inclusion of pets.

Ellen Fraser from Boringa, a management consultancy focused on energy issues, discusses the soaring energy costs this winter and the available support for struggling customers. She emphasizes the importance of communication with suppliers to navigate debt. The conversation also touches on inspiring recovery stories from scams and guidance for navigating universal credit. Additionally, insights into the property market reveal challenges faced by first-time buyers against a backdrop of rising mortgage rates. The festive spirit is also reflected as listeners share their experiences.

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. Presenter: Felicity Hannah Producers: Sarah Rogers and Neil Morrow Production Coordinator: Emma Smith Editor: Jess Quayle(This episode was first broadcast at 3pm on Wednesday 18th December 2024)

Local councils in England are stepping up to provide financial aid to pensioners facing cuts in Winter Fuel Payments. Discussions reveal the critical importance of applying for Pension Credit to ensure support during tough times. The outdated family law regarding asset division post-divorce is also under scrutiny, prompting potential reformation. Furthermore, young homeowners share their struggles with managing finances amid rising living costs and the emotional toll that financial stress can take on personal relationships.

Philippa Cornish, Head of Charities at the Charities Aid Foundation, shares insights on the £3 billion expected to be donated during the festive season. She discusses the motivations behind holiday giving and emphasizes the need for transparency in charitable contributions. The conversation includes practical tips to avoid scams and ensure donations reach the intended causes. Additionally, inspiring stories from young fundraisers who raised £400,000 for children's hospitals highlight the impactful personal connections in charitable giving.

Claire Mills, Deputy CEO of Charity Finance Group, discusses the alarming banking issues faced by charities, with 90% reporting problems over the past two years. She reveals that many struggle to change signatories on bank accounts and highlights the emotional toll these challenges take. The conversation also shifts to the recent Scottish budget, focusing on income tax updates and the two-child benefit cap. Finally, they provide essential insights on Attendance Allowance for pensioners and how to avoid duplicate insurance coverage.

Sam Smethers, CEO of Surviving Economic Abuse, sheds light on the hidden crisis of financial control in relationships. Almost a million women face economic abuse, often leaving them trapped and vulnerable. The conversation unveils the legal recognition of economic abuse and its devastating impact on access to necessities. Personal stories spotlight the emotional toll and the urgent need for awareness and systemic support, emphasizing how recognizing the signs can empower victims to reclaim their autonomy.

Sam Rushworth, co-author of a critical report on the UK’s Financial Conduct Authority, discusses allegations of incompetence and dishonesty within the organization. He highlights testimonies from victims of financial scandals, stressing the urgent need for reform. Additionally, listeners share their struggles with rising mortgage rates and seek advice on remortgaging their homes. The episode features a charming young coin collector who showcases a rare £2 coin, exploring the sentimental value and market dynamics of unique collectibles.