In this episode of Informed Choice Radio, Martin talks about the falling pound and why it matters to your personal finances.
There is also a roundup of the latest personal finance news and an update from the world of Informed Choice.
Subscribe in iTunes | Click to listen now | Right click to download episode
The falling pound and why it matters to your personal finances
In this episode, Martin talks about the reasons why the pound is falling, what it means for your personal finances, and what you can do about it.
At the time of recording the episode, Pound Sterling was valued at $1.21 or €1.10. It has fallen by 17.1% and 15.4% respectively since 22nd June, the day before the UK voted to leave the European Union.
Martin explained that Brexit is not the sole reason for this fall in the pound, sharing new small business survey results that suggest SMEs are not fussed about Brexit.
He explains the contrasting fortunes of the UK and US economies, with the interest rate outlooks for both prompting investors to shun the UK markets.
There is good news for some and bad news for others as a result of the falling pound.
Martin explained why a weaker pound was good news for exporters, equity investors, foreign tourists and people selling property. And why it could be bad news for bond investors, motorists and shoppers.
There was talk of planning ahead if overseas holiday plans are being made and considering the options for long-term diversified investment portfolios.
Right click here and save as to download this episode to your computer
Personal finance news update
-Housing minister Gavin Barwell has suggested grandparents should hand their inheritance directly to their grandchildren to help them buy their first home.
-The government plans to introduce a new financial guidance service to cover pensions, managing debts and other money issues.
-Older men are most likely to be the victims of investment fraud, with new figures showing more than 77% of victims are men with an average age of 65.
-Older men are most likely to be the victims of investment fraud, with new figures showing more than 77% of victims are men with an average age of 65.
-Two former pensions ministers have claimed thousands of women should have been given better notice that they must wait longer for their state pension.
Useful links mentioned in this episode
–How to take your pension pot – free seminars in Cranleigh
Get answers to your personal finance questions
Do you have a personal finance or investing question for Martin?
Email martin@icfp.co.uk or ask on Twitter @martinbamford.
You can call our dedicated podcast voicemail line on 020 8144 2745 with your question or visitwww.speakpipe.com/InformedChoicePodcast to leave an online voicemail.
Help us spread the word!
Thank you for listening to this episode of Informed Choice Radio. Please use the comments section below to share any feedback you have.
If you enjoyed this episode, please share it by using the social media buttons on this page.
If you enjoy the show, please subscribe in iTunes and write us a review! Reviews really help us stand out from the crowd and reach more listeners.
Subscribe in iTunes | Click to listen now | Right click to download episode
