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

Product Information

We also ask whether it meets their needs, represents value for money and whether they would recommend it to someone else. That was a really important lesson to me, because it was precious money and I lost it in a matter of foolishness. 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. 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. My inbox contains messages from people who have taken the risk or fallen foul of other much more sophisticated thieves, and they’ve lost their life savings or their pension fund because they thought, “I’m fed up with earning 1 per cent in cash” – which of course you did until recently – so when they were offered 8 per cent guaranteed, they handed over the money.

If you look at pensions in the public sector – such as teachers and so on – the amount that goes into their pensions is in the 20-25 per cent range. The small number of funds and shares available will simplify the process for those new to investing, but could be frustrating if you're an experienced investor and want more freedom and information. Many don’t know where to start and it can feel confusing and unachievable when it comes to saving and investing. So I would work towards a more equal society where there wasn’t great wealth and great tax advantages alongside a lot of people unable to manage.

If you are renting, then you’re working from Monday until possibly Wednesday lunchtime to pay your landlord. Read our comparison of investment platform charges to see how much investing with Moneybox compares to other providers. In some ways, you might think it’s a good thing that we’re being families again and looking after one another.

You can also deposit money into your account through one-off, weekly, or monthly contributions, and some products also offer instant payments. We offer products to suit every need – from saving for your first home, retirement or a rainy day, to looking for a mortgage or tracking down your old pension pots – we’ve got you covered!

Optimise Media is registered in England and Wales to Exchange Street Buildings, 35-37 Exchange Street, Norwich, England, NR2 1DP and company number 04455319. 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.

We started Moneybox because people are growing up without the tools and information they need to build their financial futures. He is Saga Magazine’s longest serving contributor, having written for and edited its money section since 1984. 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. Pensions are great for people on high incomes, because they get huge tax relief of whatever rate they pay. 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.

com Ltd is authorised and regulated by the Financial Conduct Authority (FCA) to provide advice and arrange non-investment motor, home, travel and pet insurance products (FRN310635) and is registered in England and Wales to Greyfriars House, Greyfriars Road, Cardiff, South Wales, CF10 3AL, company number 03857130. Mortgage rates are much higher than they were a year ago, even though they have come down since that disastrous mini-Budget last year. 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. 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.

We’re determined to change this and to make saving and investing simple, enjoyable to use and available to everyone.Companies who reach this score can then be excluded if they are in the top 25% most expensive platforms for any of our cost scenarios, based on our fees analysis. Now, this isn’t just your money – it comes from the employer as well, as they will contribute a percentage of your salary. Follow that rule and you will not lose money in a get-rich-quick scheme, not be seduced by the compound interest tricks of teenagers, and never be fooled by the thieves that pretend their idea is supported by a celeb. What happens is, the moment you ask that question, your premium for next year is already going up, because the algorithm will decide you are a higher risk. If I could do that here, this would be the diamond encrusted platinum rule: Never, ever, ever, ever take investment or financial advice from anyone on social media.