Money Clinic with Claer Barrett

Latest Episodes:

Introducing Working It: Can wellness apps fix us and beat staff burnout? Oct 30, 2021

Show notes

This is the podcast about doing work differently. Join host Isabel Berwick every Wednesday for expert analysis and watercooler chat about ahead-of-the-curve workplace trends, the big ideas shaping work today — and the old habits we need to leave behind.

Subscribe on Apple https://podcasts.apple.com/gb/podcast/working-it/id1591925469 - On Spotify https://open.spotify.com/show/5vNDHxEOc1pI1acJS7He5e Or wherever you get your podcasts.

The wellness industry is a trillion-dollar business, and the pandemic has turbo-charged it. One of the biggest trends has been the rise in employers buying their staff access to meditation and fitness apps. But does this ‘quick fix’ approach work? And are there better ways to boost wellbeing ?

Isabel talks to Lorna Borenstein, chief executive of Grokker, a corporate wellness app about the reasons why she set up the platform and how clients and her own staff use it. It’s all part of a culture of taking care of employees - a topic Lorna has explored more deeply in her book It’s Personal, offering advice to other managers on how to help staff feel better [tl;dr: talk less, listen more].We also speak to FT colleague Emma Jacobs, about the corporate care culture. She is a little more skeptical.

We would love to hear from you - email us at workingit@ft.com. You can also follow @isabelberwick on Twitter and Instagram or reach out via email: isabel.berwick@ft.com. Thanks.

Mentioned in the podcast and other interesting reading:

Emma Jacobs’ prophetic pre-pandemic guide to workplace wellness by app: https://www.ft.com/content/d1d58aae-437c-11ea-abea-0c7a29cd66fe
FT series, Burnout: https://www.ft.com/burnout
Deloitte report [2020] on employee mental health showing £5 benefit for every £1 spent: https://www2.deloitte.com/uk/en/pages/consulting/articles/mental-health-and-employers-refreshing-the-case-for-investment.html
Video, Emma Jacobs on how to detox from your smartphone: https://www-ft-com.newman.richmond.edu/video/b4115321-b915-3a42-9814-ad0be4c0e7f5?playlist-name=section-0b83bc44-4a55-4958-882e-73ba6b2b0aa6&playlist-offset=206

Presented by Isabel Berwick. Editorial direction from Renée Kaplan. Assistant producer is Persis Love. Sound design is by Breen Turner, with original music from Metaphor Music. Produced by Novel.

Hosted on Acast. See acast.com/privacy for more information.

Investment Masterclass with fund manager Baillie Gifford Oct 26, 2021

Show notes

Have you ever wondered what it would be like to manage an investment portfolio worth hundreds of billions of pounds? Global equities specialist Malcolm MacColl is one of two managing partners at the helm of Baillie Gifford, the Scottish asset management company, which manages more than £350bn worth of investors’ cash. An early investor in Amazon, Tesla and Moderna, Baillie Gifford’s long-term approach to investing in tech companies has paid dividends. However, its approach is being tested by volatile markets in China, where the value of Chinese tech companies has been hit by a government crackdown.

On today’s episode, Malcolm reveals how Baillie Gifford’s fund management team build an “investment hypothesis” for each company they choose to back, and why every investor should build a “coffee can portfolio” of shares they’d like to hold for 20 years. We also hear from FT investment columnist Merryn Somerset Webb who is less upbeat about China’s long-term prospects.

Further reading:

To listen to Merryn’s own Investment Masterclass, click here

Read the FT’s profile on Baillie Gifford here

Follow Claer on Instagram and Twitter @ClaerB and send her a DM if you’d like to appear as a future guest, or email the team on money@ft.com

The podcasts Malcolm mentioned are:

Farnam Street

https://podcasts.apple.com/gb/podcast/the-knowledge-project-with-shane-parrish/id990149481

Coburn Ventures

https://open.spotify.com/show/3aKPYkLblhxAAPMj3BCgR6?si=QmAPgFCUSVWA5ENKXETuJA

Patrick O’Shaughnessy

https://open.spotify.com/show/22fi0RqfoBACCuQDv97wFO?si=QjYqX5dVRLC2K6e2uf8zyA

Presented by Claer Barrett. Produced and edited by Clare Williamson and Persis Love. Sound design by Breen Turner.

Hosted on Acast. See acast.com/privacy for more information.

Martin Lewis on what the student loans shake-up could cost you Oct 19, 2021

Show notes

Students were up in arms after reading the Financial Times scoop that the UK government is considering lowering the salary level at which graduates have to start repaying their loans.

Currently, student loan repayments start when you earn more than £27,225 per year, but the FT has reported this could be reduced to around £23,000 in future. Any changes are expected to apply retrospectively to those who started university courses after 2012, including this week’s podcast guest, 24-year-old graduate Ola, who fears how much any changes could cost her.

“If this is retrospective, then for me it's a breach of natural justice and it's certainly something I would be yelling about,” Martin Lewis tells Claer. “Should students be scared? Yes.”

As well as exploring the likely impact on young people’s budgets, we hear from FT reporter Bethan Staton about the political motivation for any changes to the loans system.

Further reading:

Vote for Money Clinic in the Lovie Awards here (deadline Thursday Oct 21)

Check out Claer’s free to read FT column on how student loan changes could add up for you

Watch Martin’s YouTube video on why he opposes changes to the system

Here’s the original FT news story on the expected changes

Follow Ola on Instagram @AllThingsMoney

Follow Claer on Instagram and Twitter @ClaerB and send her a DM if you’d like to appear as a future guest, or email the team on money@ft.com

Presented by Claer Barrett. Produced and edited by Persis Love. Sound design by Breen Turner.

Hosted on Acast. See acast.com/privacy for more information.

'My life expectancy was 9 years old': Why I never thought I’d need a pension Oct 12, 2021

Show notes

Plenty of people in their 30s, 40s and even 50s have yet to start saving for retirement, and are anxious about how to begin. Today’s show is packed with tips for so-called ‘late starters’ like this week’s guest David, who is 38 and self-employed. Incredibly, David is planning for a retirement that he never thought he’d live to see. As Claer hears, a revolutionary new treatment for cystic fibrosis has transformed his life expectancy. Financial experts Claire Walsh and Moira O’Neill offer guidance for fellow late starters, weighing up the merits of pensions and stocks and shares Isas. Plus, they advise David how to factor in the additional challenges of living with a disability.

Further reading:

Check out our episode on finances for the self-employed here

Or listen to our episode about tracking down and consolidating old pensions

Moira’s FT column about pension saving in your 40s is available here

Claire Walsh’s website is here

The Cystic Fibrosis Trust has published this guide about employment rights

Presented by Claer Barrett. Produced and edited by Persis Love. Sound design by Breen Turner.

Hosted on Acast. See acast.com/privacy for more information.

'Bitcoin is the best form of money': Investment notes from a crypto expert Oct 05, 2021

Show notes

Peter McCormack, bitcoin bull and voice of the hugely popular 'What Bitcoin Did' podcast, joins Claer for a Money Clinic Investment Masterclass about cryptocurrencies. Recently back from a trip to El Salvador, the first country to make bitcoin legal tender, Peter tells Claer why he believes the cryptocurrency is the 'best form of money' and why regulatory crackdowns, volatile pricing swings and the divergent opinions of professional investors have failed to dampen his enthusiasm. An investor with a long-term view, Peter shares the highs and lows of his personal investment journey, and sets out the risks younger investors should know about before risking a single satoshi. With insight from Katie Martin, the FT’s market’s editor.

Further reading:

Check out Peter’s podcast 'What Bitcoin Did'

Have you heard this Money Clinic episode? “Bitcoin: I’ll either be rich, or wrong”

There’s a free-to-read column from Claer: Why young investors bet the farm on cryptocurrencies

Here’s Vijay Boyapati’s The Bullish Case for Bitcoin

Presented by Claer Barrett. Produced by Clare Williamson. Edited by Persis Love. Sound design by Breen Turner.

Hosted on Acast. See acast.com/privacy for more information.

Flying solo with your finances: managing money as a single person Sep 28, 2021

Show notes

How to match your money to your relationship status. Nearly one in four of us live on our own, but dealing with the financial and emotional strain of handling everything by yourself can be difficult. Jenny, 27, from Leeds, is being hit by the ‘single penalty’ and is exhausted trying to find everyday ways to save money. She’s looking for tips on investing in the stock market, whether to try to buy or stay renting and how to ease the worries that come with financial independence. In this Money Clinic episode, Claer is joined by ‘Alonement’ guru Francesca Specter who champions the single life and Iona Bain, a personal finance author and founder of the Young Money blog. Follow them on social media @ClaerB @chezspecter @ionajbain

Further reading:

Here is Francesca Specter’s Alonement site

Iona Bain’s Young Money blog

Listen to our previous episode about budgeting

If you want to get started in investing, listen to this episode

A free-to-read column about the costs of dating

Hosted on Acast. See acast.com/privacy for more information.

Investment Masterclass with the Naked Trader Sep 21, 2021

Show notes

Forget about being a day trader, you need to let the money come in slowly and take a serious, business-like approach if you want to succeed - that’s the advice of Robbie Burns, better known as the Naked Trader. In this Money Clinic special Investment Masterclass Robbie shares his top tips about getting into trading - from whether you can combine trading with a full time job, why you need to be like a detective, what shares to be careful of and learning from his mistakes.

Further reading:

-Here is Robbie’s Naked Trader site

-Listen to our previous episode about the advantages of tax free ISAs

-If you want to get started in investing, listen to this episode

Hosted on Acast. See acast.com/privacy for more information.

Could you retire in your thirties with FIRE? Sep 14, 2021

Show notes

Are you working to live, or living to work? Followers of the FIRE movement (Financial Independence Retire Early) budget carefully so they can invest a greater proportion of their take-home pay. Is a life of extreme frugality worth the extra years of financial freedom later on - and how could you apply the principles of FIRE to your own finances?

This week, Claer helps listeners Amy and Rory on their FIRE journey, with expert tips from Mr Money Mustache, AKA the US blogger Pete Adeney, and Kristian Danielson, the person behind the r/FIREUK subreddit.

Further reading:

-Here is Mr Money Mustache’s blog

-You can get involved in the FIREUK subreddit here

-If you want to get started in investing, listen to our previous episode

-Claer’s free-to-read column about the problems with FIRE is here

Hosted on Acast. See acast.com/privacy for more information.

Money Clinic meets Joe Lycett Sep 07, 2021

Show notes

In an extra special Money Clinic Meets, Claer Barrett interviews Joe Lycett, the consumer campaigner and TV comedian. As the new season of his award winning show Joe Lycett’s Got Your Back returns to Channel Four, he drops into the Financial Times studio to tell us what he really thinks about the world of finance.

Joe shares his own personal money story - including his charity shop thrifting, ESG investments and money rules - and the pair discuss why holding big consumer corporations to account is important. Plus, we get the low down on why Joe recently stormed off a daytime TV appearance.

If you would like to talk to Claer on a future episode, please email the Money Clinic team at money@ft.com with a short description of your problem, and how you would like us to help.

If you want to read more about the topics covered in this week's episode, check out the following free to read FT articles:

Clear wrote about rental fraud and the trap Joe laid for an unwitting scammer: Renters Beware is the column, and Joe’s telling of the story is available on YouTube.

Summer vacations may be over, but car hire firms are still using high pressure sales tactics. Read about Joe’s consumer investigation: Don’t let politicians ruin your half-term holiday

Say hello on social media:

You can follow Claer on Twitter and Instagram @Claerb

You can follow Joe Lycett on Twitter and Instagram @JoeLycett

You can follow FT Money on Twitter @FTMoney

Hosted on Acast. See acast.com/privacy for more information.

Repeat - Financial tips for the self-employed Aug 03, 2021

Show notes

REPEAT: Have you ever dreamt of starting your own business? It might sound more fulfilling — but being an employee has some perks you might miss. 33-year old Rhiannon set up her first business three years ago, offering virtual PA services. Even though she’s making a profit, Rhiannon is struggling to find a mortgage lender who will help her buy a property. Plus, she’s unsure about whether to leave her savings in cash — or risk tying them up inside a pension. Expert help is on hand from Holly Mackay, founder of Boring Money and mortgage broker Will Rhind from Habito.

If you would like to talk to Claer for a future podcast episode, email the Money Clinic team money@ft.com with a brief description of your story. Follow Claer on Twitter and Instagram @Claerb and read her weekly Serious Money column.

Further reading:

-Writing a will is one thing that’s been on Rhiannon’s financial to-do list for a while. Listen to this Money Clinic to find out how to set one up online.

-The pandemic has been tough on the self-employed. This Money Clinic with jewellery designer Roseanna Croft has expert tips to turn around a small business

-Pensions have long been an issue for the self-employed. This free-to-read FT column has practical tips: Self-employed women - how good is your pension?

-This free-to-read FT piece reviews the apps that can help the self-employed manage their finances

-And this Money Clinic from the New Year has the lowdown on wills

Hosted on Acast. See acast.com/privacy for more information.

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