Money Clinic with Claer Barrett

Latest Episodes:

Repeat - How can I get started as an investor? Jul 27, 2021

Show notes

REPEAT: In this week's episode of the Money Clinic, Claer chats to Naureen about getting started in investing. Naureen had a wake up call when she received her annual pension statement through the post, and saw that her projected income in retirement would not even cover the basics. But with so much information out there on investing, she doesn’t know where to begin. Experts Jason Butler, the FT columnist and Charlotte Brayton, financial planner at James Hambro & Partners join Claer to give their two pennies worth.

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 FT articles - some of which are free to read:

Even if you are not a fan of 90s rapper Vanilla Ice, Claer’s free primer on the tax advantages of investing through a stocks and shares Isa is a must-read for UK listeners: https://www.ft.com/content/684dbb86-40b4-11e9-b896-fe36ec32aece

If you want to read more about budgeting, here is another free column of Claer’s: https://on.ft.com/2WTh1PP

A more serious read for investors to get their teeth into is this piece by John Kay - How to build your own investment portfolio with £10,000: https://www.ft.com/content/24b98a82-b55e-11e6-961e-a1acd97f622d

We also heartily recommend John Kay’s book "The Long and the Short of It - A guide to finance and investment for normally intelligent people who aren’t in the industry".

Say hello on social media:

You can follow Claer on Twitter and Instagram @Claerb

You can follow Jason Butler on Twitter and Instagram @JBtheWealthMan

You can follow FT Money on Twitter @FTMoney

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Bonus episode - Help! I lost all my savings to a scammer Jul 20, 2021

Show notes

Would you fall for a £17,000 scam? You might think you are too smart to be duped by fraudsters, but under lockdown, criminals have come up with frighteningly convincing ways of parting us from our hard-earned cash. Claer Barrett talks to 31-year-old listener Jenny about how professional scammers conned her out of £17,000 after she clicked on a text message - and the battle she’s fighting with her bank to get the money back.

Bank fraud expert Steven McMillan provides practical advice about spotting scams and how criminals use ‘phished’ data to fool victims, and Gareth Shaw from Which? tells listeners how to get compensation if they fall victim.

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Bitcoin: “I’ll either be rich, or wrong” May 25, 2021

Show notes

When 29-year-old Sam found out that his younger brother had made £30,000 trading bitcoin, he couldn’t believe what he was hearing. The self-employed musician decided to put the last £2,000 of his savings into various cryptocurrencies, hoping he could double his money. However, wild swings in crypto valuations are proving a test of his strategy. Presenter Claer Barrett explores the highs and lows of investing in cryptocurrencies with experts Abhishek Sachdev, a professional investor who has personally invested £20,000, and Eva Szalay, the FT’s currencies correspondent. They discuss crypto’s long-term potential as an asset class and the risks that investors such as Sam need to be aware of, as well as the allure of investing in highly volatile unregulated assets. Review clips: BBC Newsnight, CNBC.

If you would like to be a guest on Money Clinic and chat to Claer about a money issue that’s bothering you, get in touch — our email is money@ft.com -— and you can follow Claer on Twitter and Instagram @ClaerB.

Further reading:

-Read Eva Szalay’s article Bitcoin: too good to miss, or a bubble ready to burst?

-Following Elon Musk’s tweets about the environmental impact of mining Bitcoin, check out this FT article Bitcoin’s growing energy problem: ‘It’s a dirty currency’

-Here is how the FT covered the story of the Bitcoin price crash last week

-Check out our recent investment masterclass episode with FT columnist Merryn Somerset Webb, where she chats to Claer about Bitcoin and all kinds of other investment trends

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How can I change my money mindset? May 18, 2021

Show notes

It’s easy to create a budget to manage your spending - but can you stick to it? 32-year old project manager Rosie contacted Money Clinic as she kept making the same mistakes. Despite starting the month with good intentions, online shopping sprees frequently pushed her into the red. Battling with ‘buyer’s remorse’ as she returned her impulse purchases, Rosie asked Claer what psychological factors could be causing her to break the budget? Tim Harford, FT columnist and author, turns to behavioural economics to show how we can train our brains to resist the urge to splurge. Financial coach and blogger Ellie Austin-Williams, known online as This Girl Talks Money, encourages Rosie to explore her ‘money mindset’ and probe her emotional connections with money.

If you would like to be a guest on Money Clinic and chat to Claer about a money issue that’s bugging you, get in touch — our email is money@ft.com. Follow Claer on Twitter and Instagram @ClaerB.

Further reading:

Tim Harford writes the ‘Undercover Economist’ column in the Financial Times. His bestselling book How to Make the World Add Up is out now in paperback. Follow him on Twitter @TimHarford

Read Ellie Austin-Williams’s blog on exploring your ‘money mindset’ on her website This Girl Talks Money and follow her on Instagram @ThisGirlTalksMoney

If like Rosie, you need some help working through maternity pay and pensions issues, check out our previous episodes Will having a baby break my finances? and Should I combine my pension pots?

And if you’re after budgeting tips, check out Claer’s recent column: Lock down your budget before the economy opens up

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Could I borrow to invest? May 11, 2021

Show notes

Accountant Peter knows that to grow a business, you have to take on debt. But can he apply that same logic to his personal finances? He tells Claer how he is tempted to take out a bigger mortgage against his London flat and invest that money in a buy-to-let property - or even in the stock market. Has he come up with a brilliant shortcut to making some extra money, or is his plan to leverage up a recipe for disaster? Personal finance expert and FT columnist Jason Butler stresses that debt is no shortcut to wealth, while the FT’s European economics commentator Martin Sandbu looks at recent consumer debt trends.

If you are a regular Money Clinic listener and want to be in with a chance of winning £250, then let us know what you think of the show at www.ft.com/moneyclinicsurvey

If you would like to be a guest on Money Clinic and chat to Claer about a money issue that’s bugging you, get in touch — our email is money@ft.com

Claer and Jason will be doing an Instagram Live on Tuesday 18th May at 7.30pm UK time discussing the issues raised on this episode. If you would like to take part and ask questions, follow Claer @ClaerB or Jason @JBtheWealthman on Instagram

Further reading

Here’s our Money Clinic episode on how to get out of problem debt, and here’s the one about whether it's a good idea to pay off credit cards

Follow Martin on Twitter and check out his book, The Economics of Belonging

Jason’s FT columns are available here. You can follow him on twitter and instagram and be sure to checkout his podcast

Jason recommends reading John Kenneth Galbraith’s The Great Crash 1929 and watching Capital in the Twenty-First Century

For the latest on market trends, follow the FT’s markets page.

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Investment masterclass with Merryn Somerset Webb May 04, 2021

Show notes

Retail is not dead. Brexit could help UK companies. Take a small punt on bitcoin, keep your money invested in fossil fuel companies, and reassess your holdings in expensive tech stocks. These are pretty punchy opinions about the investment world — and they come from one of the FT’s top opinion writers, columnist Merryn Somerset Webb. In this special episode of the Money Clinic podcast, Merryn chats to presenter Claer Barrett about her personal investment strategy — and the forces she believes will shape the stock market in the years to come.

Listeners should be aware that the discussion of investment trends on this podcast is for information only, aimed at people who feel confident making their own investment decisions. It doesn’t constitute an investment recommendation, or individual financial advice — if you want that, you’ll need to see an independent financial adviser.

Find out more:

- Both Merryn and Claer write a weekly column in the FT Weekend and you can follow them on Instagram and Twitter @MerrynSW @Claerb

- Hear Merryn’s tips for 19-year-old investor Ross in a previous Money Clinic, Beyond GameStop: The day trader turned investor

- For a different take on ESG investing, check out this episode Can ESG investing really change the world? And if you’re new to investing, listen to How can I get started as an investor?

- If you would like to chat to Claer about a real-life money problem on a future episode of the podcast, then drop us an email: money@ft.com

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The finances of moving overseas Apr 27, 2021

Show notes

If I take a job outside the UK, what are the options for my investments, property and pension?

After months spent in lockdown, 31-year-old finance professional Viktoria is longing for a change of scene, and is planning to relocate overseas.

She talks to Claer about her desire to escape the corporate lifestyle in London and her concerns about what would happen to her property, pensions and investments if she were to uproot.

David Denton, chartered financial planner at Quilter International, reveals the financial dilemmas commonly faced by Brits taking jobs overseas, and what someone in Viktoria’s position needs to consider. Theresa Wallace of property firm Savills talks through the pros and cons of renting out your home versus selling it when you move to another country.

Useful links:

For tips and guidance on investing in ISAs, listen to How can I get started as an investor?

If you’re considering becoming a landlord and want to know more, check out Should I rent out my property?

The FT’s Family Money columnist Lucy Warwick-Ching has some useful articles on the tax implications of working abroad during lockdown, and the need for sound financial advice when moving abroad. You can follow her on twitter here.

Follow Claer @ClaerB on Instagram and Twitter. If you’d like to talk about a real-life money problem on a future episode of the podcast, then drop us an email money@ft.com

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Money Clinic meets Anne Boden Apr 20, 2021

Show notes

Anne Boden spent over three decades in the traditional banking sector, watching the world around her being transformed by technology. In 2014, she decided that the time had come for banking to undergo the same shift, and quit her job to found Starling Bank. Since then, Anne has built Starling from an idea into a digital bank with 2m customers.

Claer talks to her about making the leap into fintech, the determination needed to turn an idea into a business and how she persuaded investors to back her. Budding business owners should sit tight as Anne shares some of the key lessons she learnt along the way - and why she thinks we should prepare for cash to completely disappear.

Read Claer’s review of Anne Boden’s autobiography, ‘Banking On It: How I Disrupted an Industry’. If you want to know more about how Anne Boden set up Starling Bank, you can buy a copy here.

Follow Claer @ClaerB on Instagram and Twitter. If you’d like to talk about a real-life money problem on a future episode of the podcast, then drop us an email money@ft.com

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Can my money help save the planet? Apr 13, 2021

Show notes

Making the ‘greener choice’ comes naturally to listener Ros. As more people become increasingly aware of how their daily decisions affect the environment, Ros is wondering if she can make a difference to the planet - and her pocket - through her bank account, pensions and plans for investing. Claer talks to the FT’s Alice Ross, author of 'Investing to Save the Planet' and Bevis Watts, chief executive of Triodos Bank UK. Review clip: Global Ethical Finance Initiative.

If you would like to be a guest on Money Clinic and chat to Claer about a money issue that’s bugging you, get in touch — our email is money@ft.com or follow her on Instagram and Twitter @ClaerB

Further reading:

-Follow Alice Ross on Twitter and check out her book here

-To read further about greening your money, check out Ethical Consumer Magazine, Good with Money or Make My Money Matter

-You can read an FT interview with Bevis here or check out the FT’s climate hub for the latest on climate change

-For a deep dive into ESG investing, listen to this episode of Money Clinic

-Here’s some further reading on Danone’s sustainability credentials and on Natwest’s climate pledge

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Will having a baby break my finances? Apr 06, 2021

Show notes

Jenny and her partner are planning to have a baby but, beyond forking out for nappies and a pushchair, she has no idea how much becoming a parent will cost. How big a budget will the couple need to cover parental leave, childcare costs, and other unexpected expenses? Claer talks to Tobi Asare, founder of parental finance blog My Bump Pay, and Maike Currie, FT columnist and investment director at Fidelity International.

If you would like to be a guest on Money Clinic and chat to Claer about a money issue that’s bugging you, get in touch — our email is money@ft.com or follow her on Instagram and Twitter @ClaerB

Further reading:

-Tobi’s blog My Bump Pay can be found here and has a wealth of resources for soon-to-be parents and she is on instagram @mybumppay You can download her baby equipment spreadsheet here, or use her planner to calculate how to spread out the ‘income shock’ of parental leave

-Follow Maike Currie on Twitter @MaikeCurrie and check out her FT columns here

-Check if you are eligible for the UK government’s Tax-Free Childcare account

-Hiring a nanny: what I wish I’d known. Click here to read

-More than one million parents in the UK are estimated to have lost state pension credits by mistakenly not registering for Child Benefit. This free article explains what to do

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