Savers, can you use gilts to earn 8%? | Standing charge to be scrapped & budget preview

Martin Lewis (0:02)

That is a 10.1% total gain over two and a quarter years.

Hilary Wynn (0:07)

But that money should work harder for you in the stocks and shares, Issa.

Adrian Charles (0:10)

I was going to put some romantic music on, but it means nothing to you.

Martin Lewis (0:12)

Which would be a terrible disincentive for people investing in private pensions. It's a complicated thing to do, but it's doable. Unjustifiable. I think it's a breach of natural justice. As I say, what is sexier than the fiscally prudent man, eh?

Hello, I'm Martin Lewis, and this is the cunningly named The Martin Lewis Podcast.

I do wonder what that's going to be about. And this is our Big Topic episode, where each week we lead on one main subject to help you save. Now usually, most of it comes from my BBC Radio 5 live show with Adrian Charles, but there's also bonus money-saving tips and tricks for you lucky, lucky podcast listeners. This week's Big Topic is nothing to be guilty about. It's all about buying short-dated UK guilts. Now many investment advisors will suggest clients look at this as a more lucrative alternative to savings, so I want to bring it to you as well. Done right, you can get the equivalent returns of 8% in savings, and I'm joined by a specialist to go through it in detail so that you'll understand it and hopefully get your questions answered. Plus, we'll talk about the government's plan to scrap energy standing charges on gas at least and a budget preview too.

This week's Tellers is when did taking a different financial route to the norm pay off for you? EG used a 0% card for a loan, leased instead of bought, got a guilt instead of savings. And Mastermind is all about student finance. With a Star Wars bent, may the force be with you. Play the theme tune.

Adrian Charles (1:55)

What's the first album you ever bought, Martin? We're talking about albums today.

Martin Lewis (2:00)

Oh, Adrian, I've never bought an album.

Adrian Charles (2:02)

Okay.

Martin Lewis (2:03)

So Radio 2 once did an entire week on the fact that I didn't listen to music. I have bought for my daughter, and I do listen to more music now, because she's an incredible singer. And so I listen to music because of her. But I was always into information and data. Even as a kid, I liked sports, I liked news. I didn't really put music on.

Adrian Charles (2:21)

I expected nothing less of you. I'm impressed by that, Martin. And I have to say... There's a purity about it.

Martin Lewis (2:26)

I did it on Radio 2, that thing, and everyone, they were all shocked on Radio 2

Adrian Charles (2:30)

Perhaps you could, if there's what... I know what I'm going to get. If I say, recommend one album for Martin to listen to, I'll get a load of pons.

Martin Lewis (2:36)

I mean, literally...

Adrian Charles (2:37)

It'll be money for nothing or nothing.

Martin Lewis (2:38)

No, literally, Radio 2 did an entire week. I went on three times in a row, where they had a competition of one album. I think they ended up with a Beatles white album, I think was the winner.

Adrian Charles (2:47)

And did you ever sit and listen to it?

Martin Lewis (2:49)

They never gave it me.

Adrian Charles (2:50)

They just said that's the one they would get me. I'll send it to you. I'll send it to you, then.

Martin Lewis (2:53)

Okay.

Now, just to interrupt myself there, my suspicion is, if I am going to find any other people who are in sync with me, who don't listen to music, they are probably listening to this podcast. So just so I can have some ammunition to take back to Adrian on this, if you are like me, it's not that you're anti-music. I'm not anti-music. I don't mind it being on in the background. I like to dance when I go out somewhere where that's appropriate, not when I'm sitting in the studio. All is good. But if you're not a listener to music, feel free to let me know at Martin Lewis Podcast at bbc.co.uk.

Adrian Charles (3:29)

Standing charge, then. What do we need to know about what the PM said yesterday?

Martin Lewis (3:32)

Well, let's have a listen. I think we've got the clip of what he said.

Stefan Schemmelt (3:35)

It will also allow us, Mr Speaker, to do more to help people with bills. I can tell the House today that I have asked the Chancellor and the Energy Secretary to look at whether we can remove standing charges from gas bills and to report back to this House at the earliest opportunity.