Description

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In this bonus episode of The Pension Confident Podcast, we bring you part one of our myth-busting series on common financial mistakes and how to avoid them!

Tune in to hear the best bits from episodes 19, 23, 27, 29 and 31. Our host, Philippa Lamb, and our expert guests cover everything from why people become reliant on credit cards to how credit scores actually work. We hear from:

• Founder of All Things Money, Ola Majekodunmi;
• PensionBee’s Head of Brand and Communications, Brooke Day;
• Co-Founder of Millennial Money UK, Niaz Azad;
• Mumsnet CEO, Justine Roberts CBE;
• Founder and CEO of Boring Money, Holly Mackay;
• PensionBee’s VP Product, Martin Parzonka; and
• Consumer Affairs Manager at Experian, John Webb.

Episode Breakdown: 

00:35 The pressure of borrowing for education

02:06 Keeping up with the Joneses

03:57 The astronomical cost of childcare

05:25 High charges that come with debt

06:39 What does a ‘credit score’ mean?

09:30 The risk of ‘financial association’

Further reading and listening:

To learn more about avoiding financial mistakes with borrowing money and credit scores, check out these articles and podcasts from PensionBee:

• Episode transcript
• E19: Can you afford to have kids? (Podcast)
• E23: Common financial mistakes and how to avoid them (Podcast)
• E27: What’s the cost of friendship? (Podcast)
• E29: Pensions vs. cash - which is best? (Podcast)
• E31: How can I improve my credit score? (Podcast)
• How can I improve my credit score?
• How do you pay off a credit card?
• How important is financial independence?
• Is it better to pay off your student loan or top up your pension?
• Should you pay off your child’s student loan?
• The effects of debt and how we can break the cycle
• What is the impact of debt on mental health?

Other useful resources:

• Credit score basics: everything you need to know (Experian)
• Get free debt advice (StepChange)
• Help with debt (Citizens Advice)
• How to check your credit report for free (Money Saving Expert)
• Student grants, bursaries and scholarships (Save The Student)

Catch up on the latest news, read our transcripts or watch on YouTube:

• The Pension Confident Podcast
• The Pension Confident Podcast on YouTube

Follow PensionBee (@PensionBee) on X, YouTube, Threads, Instagram, TikTok, Facebook and LinkedIn.

Follow Ola (@allthingsmoney_) on X, Instagram, TikTok, Facebook and LinkedIn.

Follow Millennial Money UK (@MillMoneyUK) on X, Instagram, Facebook and LinkedIn.

Follow @Mumsnet on X, Instagram, Facebook, TikTok and LinkedIn.

Follow Boring Money (@boringmoney) on X, Instagram, TikTok, Facebook and LinkedIn.

Follow Experian (@Experian_UK) on X, YouTube, Instagram, TikTok, Facebook and LinkedIn.