Vestpod

How many subscriptions are you actually paying for right now?

The ones you use all the time probably come to mind. But what about the app you downloaded for a free trial? The streaming service you barely watch? That annual membership you’d completely forgotten about?

Nearly 10 million subscriptions in the UK are estimated to be unwanted, costing us around £1.6 billion a year.

New rules should make subscriptions easier to manage and cancel from January 2027. But there’s no need to wait.

Have a look and ask yourself: would I sign up for this again today, at this price?

🙌Keep the ones you love. Cancel the ones you don’t. And decide what you’d rather do with the money.

Last week, the decided to keep interest rates at 3.75%.

It’s one of those headlines that gets a lot of attention, but what does it actually mean for your money?

For most of us, one interest rate decision shouldn’t change our financial plan overnight.

Instead, it’s a good reminder to check a few key things:
• Is your mortgage still competitive?
• Is your savings account paying a decent rate?
• If you’re investing, are you sticking to your long-term plan?

We’ve broken down what the decision means, and what (if anything) you might want to do as a result, in this carousel.

Remember, good financial habits matter far more than reacting to every headline.

Check for latest updates: https://www.bankofengland.co.uk/monetary-policy/the-interest-rate-bank-rate

After so many conversations on The Wallet, these are some of the lessons about money that keep coming up.

If you want to catch up this summer, here are our latest episodes with our brilliant guests:

📈 INVESTING & BUILDING WEALTH
What Drives Investment Outcomes, with Jessie Kwok
How to Build an Investment Portfolio, with 
The Habits That Actually Build Wealth, with The Humble Penny®

💷 EVERYDAY MONEY
Earning £100K (or Close)? Here’s What to Think About, with Philly Ponniah | Financial Coach
The Credit Card Trap, with Iona Bain
Your Self-Assessment Tax Return Guide, with Maike Currie

💼 CAREERS & EARNING
How to Ask for a Pay Rise: Salary Negotiation Tips, with Nicole Nicole | Daily AI & Career Tips
Stuck at Work? The Career Comedown, with Stefanie Sword-Williams F**k Being Humble

👩 WOMEN & MONEY
Women Are Still Retiring With Less, with Susan Hope | Financial Education for Women
The Ambition Penalty: Why Success Still Costs Women More, with Stefanie OConnell

🧠 MONEY, MINDSET & BEHAVIOUR
How Behavioural Science Boosts Your Finances, with Jaskiran | Finance Therapy 💰👩‍⚕️
How Your Financial Identity Is Formed, with Dr Ylva Baeckström
Rethinking Money Systems for ADHD & Neurodivergence, with Money & Behavioural Specialist
The Psychology Behind Holiday Spending, with Holli Rubin BA MSW
Why Money News Makes Us Panic, with Kalpana Fitzpatrick

Search The Wallet wherever you get your podcasts and available on Youtube.

Emilie

We often talk about working longer as though it’s entirely a choice.

As retirement ages rise and many people struggle to save enough, working for a few more years can feel like part of the financial plan.

But wanting to work longer doesn’t mean you’ll be able to.

This week, FT columnist  highlighted one risk we don’t talk about enough: ageism.

If finding or keeping work becomes harder in your 50s or 60s, the financial impact can be significant. Fewer years of earnings, fewer pension contributions, less time to save, and potentially having to draw on your money earlier than planned.

And ageism isn’t the only risk. Redundancy, health, caring responsibilities and a rapidly changing job market can all shorten a career unexpectedly.

Women may be particularly exposed. Career breaks, part-time work and caring responsibilities already contribute to lower lifetime earnings and smaller pensions. Losing expected earning years later in life can compound that gap.

It’s why retirement planning also needs to include career planning. Not because everyone needs a side hustle, but because maintaining your skills, networks and options can help build financial resilience.

If your income stopped or dropped earlier than expected, what options would you have? Could you retrain, freelance or work differently? How flexible is your financial plan?

“I’ll just work longer” isn’t always a retirement plan if working longer isn’t always your choice.

Electricity VAT is being scrapped, but what will it actually mean for your bills?

From 1 October, VAT on household electricity will fall from 5% to 0%, saving the average household an estimated £45 a year, or around £3.75 a month. The cut applies to electricity, not gas, and should be applied automatically by your supplier.

But there’s an important catch: underlying energy prices could rise again. Industry analysts are forecasting that the Ofgem energy price cap could increase by around 5.1% in October, meaning the VAT cut may soften a future price rise rather than leave you with a noticeably lower bill.

Save this post for the October change and share it with someone who pays an energy bill.