储蓄者，你能用金边债券赚取8%的收益吗？| 取消固定费用及预算预览

对，低于那个数，每次交易你都在亏钱，所以别那么做。

Yeah, below that, below that you're losing every time you trade, so you don't want to do that.

还有一件事，说实话，我自己也买过金边债券。

One other thing, just because I'd probably be honest, I've bought gilts myself.

有时候在金边债券上市的地方，会有一些叫“剥离债券”的东西。

Sometimes there are things called strips listed where gilts are listed.

它们看起来像金边债券，但其实不是，对吧？

And they look like gilts, but they're not gilts, are they?

对，它们是把利息剥离出来的。

No, they're stripping out income.

所以你看那些剥离债券的时候，别买那些。

So when you're looking at the strips, you don't want to do that.

你要买真正的金边债券。

You want to buy the actual Just

确保你买的是真正的金边债券。

make sure you're buying an actual gilt.

这一点你真的要特别小心。

And that you've got to be really careful on that.

好的，Adrian，你知道我们有很多问题。

Right, Adrian, you know we've loads of questions.

Adrian，你收到了吗？

Did did you get it, Adrian?

你明白我们在这里做什么吗？

Do you see what what we're doing here?

我完全明白你们在做什么。

I I can absolutely see what you do.

我的问题是，当你……

I mean, my question was when when you...

在你举的那个例子里。

In the example you gave.

你是从谁那里买的？

From who who are you buying it from?

是直接从政府买，还是从卖这种国债的人那里买？

From direct from the government or from somebody who's selling that gilt?

这部分我倒是知道。

That's the bit I know.

你确实可以合法地从政府直接购买，但手续挺麻烦的。

You you can legally buy it direct from the government, but it's quite a faff.

基本上，你可以通过很多不同的平台来买。

I mean, basically, there are a number of different platforms that you can go to.

我之前已经提到过几个了。

I've mentioned a couple of them already.

是不是有点像在股票市场里买股票那样？

Are you buying them a bit like you buy in the stock market?

你开个账户，然后去查国债，找到你想要的那只，市面上有很多国债可以选。

You set up an account, you go and look up the gilt, you find the gilt that you want, and there are lists of gilts out there.

计算回报率可能会有点复杂。

Working out the return can be a little bit complicated.

如果你擅长用电子表格，可能很快就能建一个计算器，让大家自己算，我觉得这会很有帮助，但我还没做。

If you're good on a spreadsheet, might build a calculator on it quite soon so that people can do it for themselves, which I think will be very helpful, but I haven't done it yet.

然后你要做的就是像买基金一样，直接下单交易。

And what you do is then you literally just go like you're buying a fund and you do a deal.

我想要多少？

How much do I want?

你买下来。

You buy it.

你就有了一个利率。

You've got a rate.

你知道回报会是多少。

You know what the return will be.

你知道票息会是多少。

You know what the coupon will be.

所以那是一个市场了。

So that's a market then.

所以那个内疚感是有卖家在卖的。

So there's a seller for that that guilt.

有些……

Some...

有人在卖这个东西。

Somebody is is selling it.

对。

Yes.

其实就像你买股票的时候，你并不是直接从卖家手里买。

In a much as when you're buying a share, you're not buying off a seller.

你是去交易平台问，现在的价格是多少？

You're going to a trading platform saying, what's the price at the moment?

我要买股票。

I'm buying shares.

然后你是从平台那里买的。

And you're buying off a platform.

从技术上讲，背后确实有卖家，但你是通过平台操作，按下买入键，然后就能拿到你的国债。

Technically, underlying it, there is a seller somewhere, but you're going to a platform and pressing buy and you get your gilts.

约翰

John

问得好。

Good question.

这很有意思。

It was interesting.

约翰说，类似的风险，对吧？

John says, sort of similar risk, question mark.

储蓄账户里最多12万英镑，肯定一点风险都没有吧。

Surely there's no risk at all in a savings account up to 120 k anyway.

嗯，储蓄账户里最多12万英镑确实没有风险，因为储蓄账户有金融服务补偿计划保障，而这个计划是由英国政府支持的。

Well, there is no risk at all in a savings account up to 120 k because a savings account is backed by the financial services compensation scheme, which is backed by the UK government.

超过12万就没有保障了，但国债全部都有英国政府支持。

Over 120, there's no protection, whereas in gilts, all of it is backed by the UK government.

这是关键，希拉里。

This is the key, Hillary.

这等同于储蓄，还是比储蓄风险更大？

Is this equivalent to saving or is it riskier than saving?

这绝对是一种投资。

It is absolutely an investment.

所以，如果你是为了特定目的购买，并且确定会持有到到期日，它仍然是一种投资，而不是存款类的产品。

So it is, you know, if you're buying it for a specific reason, you know you're going to hold it to maturity, it is still an investment, it's not a deposit based side of the world.

但正如你所说，它有英国政府做后盾。

But it comes, as you say, with the British government backing it.

所以你可以认为它风险很低，但你仍然是在投资。

So you could look at it and say it's very low risk, but you are still investing.

如果你全亏了，那基本上意味着政府彻底破产了。

If if you lose it all, that would essentially mean the government's gone completely bust.

所以，我的意思是，那可能是你最不担心的问题了。

So I mean, might be the last of your problems at

到那个时候。

that point.

是的，如果真到了那一步，我们面临的问题会更大。

We'd have, yeah, we'd have bigger problems if we did.

没错。

Exactly.

英国政府从来没有在国债上违约过，对吧？

The UK government has never not paid out on a gilt, has it?

对，是的。

Correct, yes.

没错，历史上从来没有，国债从未违约过。

Right, never in history, never not paid out on a gilt.

所以我完全理解这种分类上的区别，这是一种投资，而不是储蓄，因为储蓄的定义是有存款保护，这是一个技术性的问题。

So I absolutely understand the categorization different that this is a form of investment, not a form of saving, because saving is defined of having deposit protection, which is a technical thing.

但归根结底，存款保护也是由那些承诺偿还你国债的人提供的。

But ultimately the deposit protection is provided by the same people who are promising to pay your guilt.

那么从实际风险差异来看，国债和储蓄相比，风险到底差在哪里？

So in tactical manifest risk difference, what is the risk on a guilt that you don't have in savings?

如果你打算持有到到期日的话。

If you're going to hold it till maturity.

这就是最大的前提条件。

And that's the big caveat.

如果你打算持有到到期日，其实就相当于只迈出了一步。

If you're going to hold it to maturity, you're literally just taking one step.

那让我先把这个话题从技术层面转到个人理财层面，好吗？

So let me just, because I wanna make this and turn this into a personal finance rather than technical, right?

当然可以。

Sure.

那我们打个比方，假设有两种选择：一个是固定利率储蓄账户，钱被锁住取不出来；另一个是国债，在我看来也是钱被锁住取不出来。

So if we are going to take an analogy, have a choice between a fixed rate savings account where my money is locked away and I can't get it out, and a guilt where in my head, my money is locked away and I can't take it out.

那风险上的区别是什么？

What is the difference in risk?

所以我现在要做的就是把你的这个风险去掉，如果你试图提前卖出，那确实存在投资风险。

So what I'm doing is I'm deleting your, if you try and sell it early, there is an investment risk.

咱们把这个风险去掉。

Let's delete that.

这个人持有到到期。

This person is holding till maturity.

那风险差异在哪里？

What is the risk difference?

你看，如果所有这些条件都满足了，那两者之间的差异就非常小，几乎可以忽略不计。

See, if all of those conditions were fulfilled, there's very little difference on there, de minimis on there.

实际上就只是你投入资金的过程不同。

It's just literally what you've gone through to put the money in.

所以买国债你是在平台上交易，而固定利率储蓄账户你是去银行办理的。

So you've traded on a platform for the gilt, and you've gone to a bank for that fixed rate savings account.

但关键的区别在于，就像你说的，中途如果你需要取出这笔钱，银行里的现金可以随时取用，而国债就不行了。

The key difference though is, as you say, midway through, if you need that money out, your cash in the bank, you know, it's moved up, whereas a gilt

所以可以说，你得到的额外灵活性，你却说那是风险。

So arguably it's the extra flexibility that you're getting that you're saying is a risk.

嗯，从个人财务的角度，也可以反过来看。

Well, one could also argue the other way around for one's own finances.

他们能随时取出来这一点。

The fact that they have ability to get it out.

听着，如果我要认真说的话，我只是从另一个角度来讨论，因为我想让大家理解，最终你是根据风险来做决定的。

I mean, listen, if I were to get really, I'm just playing it the other way because I want people to understand it and ultimately you listening your decision on the risk basis.

但如果我持有的是固定利率现金ISA，法律规定，固定利率现金ISA必须允许我取款，但要支付取款罚金。

But if I have a fixed rate cash ISA, by law, a fixed rate cash ISA must allow me to access my cash for a withdrawal penalty.

我明白，取款罚金会是……

Now I understand the withdrawal penalty is that will be...

可能是相当于180天利息的预先公布的金额，但最终，你在这里得到的是类似的概念，就像国债一样。

Might come be one hundred and eighty days worth of interest is a pre announced amount, But ultimately, you're getting, you know, there's a similar idea with the guilt here.

如果我要提前取出，我可能支付的提前取款罚金是未知的，而这正是风险所在。

If I'm going to take it early, while the penalty I might pay for taking it out early is an unknown, and that's what gives the risk element.

这里面有个类比，对吧？

There is an analogy within that, isn't it?

有点类似。

It's sort of similar.

确实，确实。

It is, it is.

但我想说，时不时会有一些事件真的能冲击国债。

But I would say, you know, there are events every so often that can really hit guilt.

就像我们现在正经历的这个。

Like we're in one now.

对，有可能。

Yeah, possibly.

是的，我们确实在经历。

And yes, we are.

而且你知道，回顾2022年，那时候国债也受到了不小的打击。

And you know, also when you look back 2022, gilts were hurt quite badly at that point.

所以我觉得可以说，如果你持有到到期日，你差不多能达到目标，但如果你提前需要钱的话。

So I think you can say if you're holding to maturity, you're there or thereabouts, but if you need it beforehand.

我想说的是，我今天所有的观点都是关于购买短期英国国债并持有到期的。

And I would just say my entire premise today is about buying short dated gilts to maturity.

这不是关于交易英国国债的。

It is not about trading in gilts.

也不是关于长期或无期限英国国债的。

It's not about long or non ended dated gilts.

而是短期英国国债，我们定义为五年或更短期限的。

It is short dated gilts, which will define as let's say five years or less.

因为如果你要超过五年，那你就应该考虑投资了。

Because if you're going over five years, you want to be looking at investing anyway.

这就是我们的前提。

And that's the premise that we're in.

这和储蓄不一样。

It isn't the same as savings.

大多数人不会觉得这么做很自在，因为他们没有，这不是他们习惯的方式，但绝对没问题。

Most people won't feel that comfortable doing it because they don't have, you know, it's not what they used to, but it's absolutely.

这也是我一开始的前提。

And it's the premise I started with.

当你去找投资顾问，手里有钱，他们会说，哦，你在储蓄上存了不少。

When you go to an investment advisor and you've got money and they say, Oh, you've got quite a lot in savings.

他们第一句话就是，为什么不拿一部分去买金边债券呢？

The first thing they say is, why don't you have some of that in gilts?

风险差不多，而且你能赚更多，因为你是高税率或最高税率纳税人。

It's a similar risk profile and you're going to earn more because you're a higher or top rate taxpayer.

他们就是这么说的，对吧？

That's what they say, isn't it?

没错。

Exactly.

就是这样。

It's exactly that.

所以这就是我今天在这里讨论的原因，这样即使你没有去找那些专业人士，你也能了解这些。

And that's why I'm discussing it here today so that you get that even if you haven't gone to one of those people.

我把问题放出来，你们自己决定谁最适合回答。

I'll put the questions in and decide amongst yourselves who's best equipped to answer it.

查理想知道，我怎么能通过股票和股票ISA来投资这类产品。

So Charlie wants to understand how I can invest in something like this within a stocks and shares ISA.

我有一个ISA，但我不明白该怎么用，而且我想做一些定期投资。

I have one, but I don't understand how I'm meant to use it, and I'm looking to do some trip feed investing.

所以，正如我之前提到的，查理，你是否应该用你的ISA来买金边债券，这是个问题，因为它们的税不多，只有一点点收入税，没有资本利得税，但你可以在投资平台上直接买，就像股票ISA一样，只是不一定非要用你的ISA来买这个，你最好用ISA来做直接投资。

So as I mentioned earlier, Charlie, whether you should actually be using your ISA for gilts because there's not much tax on them, there's only a little bit tax on the income, not on the main gain is a question, but you can just bat on an investment platform the same as a stocks and shares ISA, just don't necessarily use your ISA for this, you'd be better to use that for straight investing.

我之前提到的一些平台，比如AJ Bell和Hargreaves Lansdowne，还有Interactive Investor、Fidelity、Freetrade和Money Farm。

Some of the places I mentioned, AJ Bell and Hargreaves Lansdowne, there's also Interactive Investor and Fidelity and Freetrade and Money Farm.

所有这些平台都允许你购买英国金边债券。

All of those places allow you to buy UK gilts.

所以你可以去其中任何一个平台。

So you could go to any of those.

股票和股份ISA，你怎么看？

Stocks and shares ISA, what would you say?

我不会在股票和股份ISA里买国债。

I wouldn't do a gilt in a stocks and shares ISA.

就像你说的，你完全可以在股票和股份ISA里让这笔钱更好地为你工作。

As you said, you can absolutely put that money to work harder for you in a stocks and shares ISA.

对，不错。

Yeah, cool.

好的。

Okay.

艾伦这次给了你很多缩写词需要消化。

A lot of acronyms for you to unpack in this from Alan.

T212

T two one two

T212是一个买卖股票和基金的平台。

only trading two one two, who's a a platform for buying and selling shares and funds.

只有金边债券ETF。

Only has, gilt ETFs.

对。

Yep.

这是一种交易所交易基金。

It's an exchange traded fund.

它就像一个金边债券基金，而不是直接买单个金边债券。

It's like a a a fund of gilts as opposed to buying an individual gilt.

好的，那通过像V Gov这样的ETF买金边债券有什么优缺点呢？

Okay, what are positives and negatives of buying gilts in an ETF like V Gov?

好的，这个问题问得好。

Okay, so this is a Hillary one.

我的意思是，如果你买基金，就要交资本利得税。

Mean, I right, if you buy a fund, would pay capital gains tax

对，完全正确。

on Absolutely.

好的。

Okay.

所以走这条路的好处是便宜。

So the benefits of going through that route are that it's cheap.

你提到的那个V Gov，Adrian，费用是0.05%。

You know that V Gov one you mentioned Adrian is 0.05% in terms of charges.

它是分散投资的，所以你不是买一只金边债券，而是买65只。

It is diversified, so instead of buying one gilt, you're buying 65.

我们今天讨论的是短期金边债券。

We're talking about short dated gilts today.

在这65只里面，你可以从非常非常短期的金边债券开始，

In that 65, you can go from the really, really short dated gilts, I.

也就是

E.

三个月内到期的，一直到五十年期的都有。

Maturing in the next three months, all the way through to fifty years.

所以你就失去了那种确定到期能拿到100英镑的好处。

So you're losing some of that known benefit of knowing that you're going to get paid that £100 when it matures.

那这样的话风险就更高了，因为它更像是一种投资，对吧？

So therefore it's higher risk because it's more of an investment then, is it?

价格波动会更大。

Going to get more price fluctuation.

完全正确。

Absolutely.

你更容易受市场影响，而且是在更长的时间段内受影响。

You're more exposed to the market and you're exposed to it over a longer time frame.

你对利率变化的敏感度也会更高，这一点很重要。

You're much more sensitive to interest rate changes as well, which is important.

但如果你通过基金来买，那就正好符合我们刚才提到的ISA问题，因为当然，如果你通过基金购买，就没有资本利得税方面的税收优惠。

But if you buy it in a fund, it does suit that ISA question that we just had, because of course there are no tax benefits if you buy it in a fund in terms of that capital gains tax.

我猜你不会喜欢我接下来的说法，Hilary。

I suspect you won't like my phrasing here, Hilary.

哦，真的吗？

Oh really?

因为你说得对。

Because you're right.

但从某种意义上说，短期国债持有到期更像储蓄，而如果你买的是国债基金，那就更像是一种投资，因为长期波动更大，而且没有到期日。

But in a way, is it more that a short dated gilt held to maturity is more akin to saving, but if you're buying a gilt fund, it is more a form of investment because there's more volatility over long term and there's no end date.

概念上，不完全是，不是监管意义上的，而是概念上的。

Conceptually, not exactly, not in a regulated sense, but in a conceptual sense.

是的，你说得完全对。

Yes, you're totally right.

我不喜欢这种说法。

I don't like the phrasing.

但确实，从行为上看你是对的，是的，有道理。

But no, you are correct in kind of behavior, yes, that makes sense.

好的。

Okay.

确实。

Quite.

这个问题有点政治色彩，公爵。

The duke of dench, I mean, slightly political, this question.

为什么会有人买英国国债？

Why would anyone buy UK gilts?

把英国当成一家企业来看，它就是个破产的烂摊子。

Treat The UK like a business, and it's a bankrupt mess.

它打压进取心，不鼓励勤奋工作，惩罚赚钱的人，还把资本引向所有错误的地方。

It taxes ambition, disentivizes hard work, punishes earners, and funnels capital into all the wrong places.

你这不是在投资增长。

You're not investing in growth.

你是在为衰退买单。

You're underwriting decline.

你确实不是在投资它。

You're not investing in it.

你买的是债券。

You're buying a bond.

你买的是一个承诺。

You're buying up a promise.

所以问题不在于你喜不喜欢这家公司。

So the question isn't, do you like the company?

如果你喜欢，问题是它能不能还我钱。

If you like, the question is, is it gonna pay me back?

希拉里，你怎么看？

Where are you on this, Hillary?

值得一提的是，大家都在谈论债券市场危机和债券收益率上升。

Mean, it was worth noting, everybody's talking about bond market crisis and bond rates on the up.

这实际上对短期金边债券有什么影响？

How does that actually affect short dated gilts?

确实有影响，特别是如果你打算在到期前卖出，但我们讨论的不是这个。

So it does have an impact, particularly if you're going to sell it before it matures, but we're not talking about that.

所以实际上，你买的是债券，买的是承诺给你的利息，还有到期时还你的本金。

So in reality, you are buying the bond, you're buying the interest that's been promised and also the payment back at redemption.

所以实际上，不管你喜欢不喜欢英国政府的做法，只要你相信他们会还钱，就像你说的，他们还没违约过。

So in reality, whether you like what the UK government is doing or not, as long as you believe that they're going to pay you, which as you said, they haven't defaulted on.

生活中没有什么是百分之百确定的，但违约的话问题就大了。

Nothing in life is guaranteed, it more would than a big issue.

那会是经济上的

It would be an economic

大灾难，对所有人都是，即使那些没买债券的人也一样。

catastrophe for all of us, even those who don't have bonds.

对。

Correct.

所以实际上，这跟政治立场无关。

So in reality, it's not a call on the politics.

关键问题是，这笔投资短期内能不能兑现。

It's a call on, will this payout in the short term?

那现在债券市场的情况，收益率上升了，利率也上升了，这是不是意味着你能买到的短期债券的价格就下降了呢？

And does what's going on in the bond market at the moment where yields have gone up, so interest rates have gone up, does that mean the price you can buy a short dated bond at has gone down?

所以现在买的话，可以说，现在买短期金边债券的人其实是受益的，如果你现在买的话。

So actually buying right now, arguably, people who are buying short dated gilts are benefiting if you're buying right now.

从技术上讲，是的。

Technically, yes.

好的。

Okay.

克里斯说，他想了解更多关于金边债券阶梯在养老金规划中使用的信息。

Chris says, more information, he wants more information on gilt ladders to use in pension planning.

是不是就像你答应邻居圣诞节还他梯子，结果没还，那样就不好了？

Is that This good isn't when you promised your neighbour, you know, I'm going to give you a ladder back for Christmas and you don't do that would be it anyway.

哦，我还以为那就是那个意思呢。

Oh, I thought that's what it was.

所以金边债券阶梯，我打算把这个留给希拉里来解释，基本上就是你买很多不同到期时间的债券，这样你就有持续的收入流，对吧？

So a gilt ladder, I'm going to leave this to Hilary, is basically where you buy lots so they mature at different times, you've got a constant income flow, isn't it?

没错，关键就是管理收入。

Absolutely, so it's all about managing income.

通常你会在临近退休，或者准备开始领取退休收入的时候考虑买这个，你可以控制金额和时间范围。

You usually look at buying this when you're approaching the perfect retirement, or looking at starting to turn on your retirement income, and you can control how much and what time frame you're looking to.

通常人们会在有专业建议的情况下这么做，但你知道，一个靠谱的电子表格和数学计算也能搞定。

Usually people do this with advice helping there, but you know, a good spreadsheet and mathematics.

所以基本上就是说，我每六个月需要一笔收入。

So basically it's like saying, well, I'm going to need income every six months.

那我就买这些在未来十年、十五年里每六个月到期的债券。

So I'm going to buy these bonds that mature on six monthly periods over the next sort of ten, fifteen years.

这样我就有稳定的收入流，把钱安排好，确保能覆盖我需要的收入，还要考虑通货膨胀。

I've got a constant flow of income looking at putting my money in a way that will keep the income that I'll need factoring in inflation on that.

这事儿挺复杂的，但确实可行。

It's a complicated thing to do, but it's doable.

确实非常可行，但你说得对。

It is very doable, but you're right.

确实挺复杂的。

It is complicated.

而且这

And it's

是退休相关的事，因为如果你工作的时候有这么多钱，通常不太需要这种收入。

a retirement thing because you don't normally need the income as much if you've got this type of money when you're working.

约翰说……

John says...

我觉得这个问题也需要解释一下。

It's another question I think it needs some translation.

他问，你是支持所谓的“崩盘缓冲”逻辑，还是纯粹看收益率？

He says, do you argue the quote unquote crash buffer logic or just purely yield?

对于年轻的储蓄者来说，现在买长期债券比高息账户更划算吗？

For a younger saver, is the duration risk worth it over a high interest account right now?

我觉得“崩盘缓冲”的意思是，如果股市下跌，英国国债可能会变得更值钱，所以它们有逆周期的作用。他是不是这个意思？

So I think crash brush remains that you might go into it as the fact that if the stock market went down, gilts might become better value, And so they work in a counter cyclical way, think, is that what he means there?

而纯收益率就是直接作为一项投资来看。

And pure yield is just as a straight investment.

希拉里？

Hillary?

嗯，这其实是个挺有意思的问题，因为当然，当股市出现波动时，国债应该起到保护作用。

Well, it's quite an interesting one actually, because of course, gilts should protect when equity markets have their moments on there.

但现实是，它们并不总是能做到这一点。

But the reality is they don't always do it.

所以我们必须对此保持高度警觉。

So we have to be quite alive to that.

问题是，当收益率上升时，它们就会带来冲击。

It's a case of when yields do rise though, that they'll bite.

不过作为年轻投资者，我会像你说的那样，这关乎退休，就像我们刚才展示的那个国债例子一样。

As a young investor though, I would, as you say, it's about retirement in that gilt example we were showing through.

作为年轻投资者，我觉得你必须非常小心，不要承担的风险太少，否则你的储蓄就不能为你努力增值。

As a young investor, think you've got to be quite wary of not taking enough risks, so your savings don't work hard enough for you.

对，所以我们有储蓄，有国债，如果你不用为储蓄交税的话，其实挺复杂的，除非你有很多钱。

Yeah, so you've got, you know, we've got savings, we've gilts which hopefully if you're, I mean it's really, if you're not paying tax on your savings, it is quite a complicated way to go unless you've got a lot of money.

没错。

Exactly.

而且，再说，如果超过五年，你也会考虑直接投资股票，而且，你知道，如果你买了管理基金，可能已经包含了这些，但两者都有，不是吗？

And actually, again, more than five years, you'd look at straight investing equities as well as this, and you know, there might be some guilt if you bought a managed funds, might already be incorporated in But it's both, isn't it?

这取决于你想用它来做什么。

It depends on what you're trying to do it for.

还有你怎么，什么让你睡得着觉，以及是否是为了某个特定的目的。

And how you, what makes you sleep at night and whether it's for a specific purpose

让我们试着举个例子。

as Let's try and give an example.

如果你有一笔钱，需要在四年后用到，因为你有一个十年期固定利率的便宜按揭，四年后到期，所以你打算在四年后减少借款金额，而且你为储蓄交税，那么买一个三年半后到期的国债，假设它是个好的支付者，那就是你会用它来做的事情。

If you had money put aside that you needed in four years time, because you've got a ten year cheap fixed rate mortgage that was maturing in four years time, and therefore you're gonna wanna reduce the amount that you're borrowing in four years time, would, and you paying tax on your savings, would buying a gilt that matures in three and a half years, assuming it's a good payer, that would be the type of thing you'd use it for.

走那条路完全合理，绝对。

It would be totally logical to go down that route, absolutely.

而不是储蓄，因为有了税收优惠，特别是如果你是高税率或最高税率纳税人，可能会更有利。

Rather than savings, because with the tax gain, especially if you're a higher or top rate taxpayer, it could be beneficial.

这并不适合所有人，不是说我们应该用这个替代储蓄，而是说如果你为特定目的存了一大笔现金，并且短期内需要用到这笔钱，这是你工具箱里应该考虑的另一种选择。

It's not for everyone, it's not saying we should replace savings with it, It's saying it's something else you should look at in your arsenal if you're keeping a lot of cash aside for a specific purpose that you're going to need that money in the next.

你可能卖了房子，打算两年后再买。

You you might have sold a house and be want to buy in two years time.

你可能要移居国外，打算两年后回来用这笔钱买房子。

You might be moving abroad and want to come back in two years time and use that money to buy a house.

诸如此类的情况。

All those type of cases.

希望大家都能理解。

I hope everybody's understood it.

只是觉得这是我们从未讨论过的话题。

Just felt it was the type of thing we've never talked about.

对很多人来说，这确实是一个现实可行的选择，但很多时候，除非他们去咨询投资顾问，否则他们不会知道这个选项。

That is a real live option for many people that they won't know about in many cases unless they go to an investment adviser.

希拉里，讲得太精彩了。

Hillary, been brilliant.

谢谢。

Thank you.

希拉里，非常感谢。

Hillary, thanks very much.

在离开之前，能告诉我们你最喜欢哪张专辑，是那种你会从头听到尾不跳歌的吗？

Can you tell us what your favorite album is that you listen to without skipping before you go?

我跟马丁站一边。

I'm in Martin's camp.

哦，那当然。

Oh, well, yes.

你看，这大概不是巧合吧？

You see, it's probably not a coincidence, is it?

又是一个不听音乐的金融人。

Another no music financial

有人发消息进来吗？

Has anyone messaged in?

还有没有像我们一样的其他老古董，或者说音乐上的老古董？

Have we got any other Luddites like us, or music Luddites out there?

有一两个。

There's one or two.

我觉得他们都在金融服务行业工作。

I think they all work in financial services.

这可能是我的……

Would be my...

这是我的猜测。

That's I would surmise.

希拉里·温，非常感谢，

Hillary Winn, thanks very much,

希拉里。

Hillary.

我们精神很好，但显然没有灵魂。

We have great spirit, but no soul, obviously.

来自AJ Bell。

From AJ Bell.

现在跟我们说说你的“告诉我们”吧。

Tell us about your Tell Us now.

什么时候走一条不同于常规的财务路线让你受益了？

When did taking a different financial route to the norm pay off for you?

比如，你用0%利率的信用卡贷款，你选择租赁而不是购买，你买国债而不是存钱，结果你多赚了多少？

EG, you used a 0% card for a loan, you leased instead of bought, You got gilts instead of saving, and how much better off were you?

你先来，Adrian。

Why don't you start, Adrian?

好的。

Okay.

Emma，我用返现应用买的礼品卡来买食品杂货。

Emma, I do my food shopping with gift cards bought from a cash back app.

四个月下来，我们光靠日常购物就赚了九十多英镑。

In four months, we've made £90 plus just from regular shopping.

当时觉得没多少，但现在靠着返现，我们一周的伙食费都省出来了。

It didn't seem much at the time, but now we have a full week shop thanks to cash back.

我不太确定。

I'm not sure.

你能解释一下吗？

Can you just explain that

在我看来，

to my mind?

她说的是像TopCashback和QuickCo这样的返现网站，然后她正在……

She's talking about the cash back sites like TopCashback and QuickCo and is getting...

她买一张礼品卡，就能拿到十英镑的返现。

You know, is buying a gift card and getting £10 cash back for doing so.

所以，如果一切顺利，返现真的到账的话，她等于花九十英镑买了一张一百英镑的礼品卡。

And therefore, effectively, if it all works and the the cash back gets paid through, she's buying a £100 gift card at £90.

而且如果你知道自己肯定会花掉这笔钱，就别把礼品卡留太久，万一公司倒闭了，那卡就一文不值了。

And if you know you're gonna spend it, never hold on to gift cards for long in case the company goes bust, they're not worth anything.

但如果你打算三天后买一个价值100英镑的东西，而你能以90英镑的净成本拿到一张100英镑的礼品卡，那你就赚了。

But if you were gonna buy in three days time, something costing a £100 and you can get a £100 gift card for a net cost to you of £90, you're up.

山姆，我用乐购会员卡积分给我妻子买了一枚昂贵的钻石永恒戒指。

Sam, bought an expensive diamond eternity ring for my wife using Tesco Clubcard vouchers.

记得那时候，会员卡积分兑换成金匠的券，汇率还挺不错的。

Remember when This this was was back in the days when Clubcard converted to Goldsmith vouchers at quite a good rate.

实际上是四比一。

It was actually four to one.

所以如果你有价值100英镑的乐购积分券，你就能在金匠那里换到400英镑。

So if you had a £100 worth of gift card of Tusco vouchers, you could get £400 in goldsmiths.

她得量尺寸来定制戒指。

She had to be measured for the ring.

所以她知道我是怎么付的钱。

So knew how I was paying for it.

我觉得她没介意，我们还在一起呢。

I don't think she minded, we're still married.

我遇到过很多人。

I have had so many people.

我记得大概在2007、2008年的时候，我在一个节目里讲过这个，因为人们经常在乐购买东西，攒了价值506100英镑的乐购券，然后换成金匠的券，就能有2000英镑去买订婚戒指。

I remember I actually had it in a show in about 2007, 2008, because people would effectively shop at Tesco, had $506,100 pounds worth of, Hilary's face has gone, eyes have gone wide, $506,100 pounds worth of Tesco vouchers, convert it into goldsmiths and have £2,000 they could spend on an engagement ring.

为什么不呢？

Why not?

我喜欢这个。

I love it.

就像我说的，还有什么比会精打细算的男人更性感的呢？

I mean, as I say, what is sexier than the fiscally prudent man?

嘿。

Hey.

阿德里安？

Adrian?

我本来想放点浪漫的音乐，但这对你来说毫无意义。

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

不。

No.

总之，我

Anyway, I'm

不是。

not.

谢谢。

Thank you.

比尔说，在2000年代中期偶然发现了你。

Bill says, stumbled across you in the mid naughties.

那就是你。

That would be you.

你的……

Did your...

不记得叫什么名字了。

Can't remember what it was called.

生活方式洗衣店？

Lifestyle laundry?

我记得是你包装的。

You framed I think.

你把它包装成给自己加薪。

You framed it as give yourself a pay rise.

我开始多还房贷，到09年就还清了，然后开始投资，去年55岁退休了。

I started overpaying my mortgage, mortgage free by 'nine, started investing, retired at 55 last year.

哦，那真好。

Oh, that's really lovely.

我就想说这个。

That's all I'm saying.

我用三张零利率的信用卡买了辆车。

I used three credit cards at 0% purchase rate to buy a car.

我算了一下，如果按普通贷款来还，大概要付多少，然后把那个金额分摊到几张卡上。

Worked out how much I'd pay on the typical loan and divided that between the cards.

这样每个月的花费一样，但利息是零。

So same monthly cost 0% interest.

不过有时候可能会有信用卡的手续费。

Again, there can sometimes be a credit card fee.

如果你的信用评分高，而且你自律，知道自己怎么操作，因为信用卡是开放式的，这才是让人担心的地方。

If you've got a good credit score and you're disciplined and you know what you're doing because credit cards are open ended, that's the worry.

但免息总比付利息便宜。

But then interest free is cheaper than paying interest.

就这么简单。

Simple as that.

太棒了。

Brilliant.

杰基还买了一张卡，用了两张免息信用卡，打算把余额转到另一张卡上，每月的还款和分期付款一样。

Jackie also bought a card with two interest free credit cards with intention of transferring balance to another card, made the same payments as higher purchase would have been.

非常有意思。

Very interesting.

他们俩做的事情是一样的。

They're both doing the same thing.

如果你把0%利率的信用卡当贷款用，你就不能随便乱还。

What you don't do if you use a 0% card as a loan is you don't pay willy nilly.

要像对待贷款一样，固定还款，心里要有自律。

Treat it like a loan with a fixed repayment mentally self disciplined.

在休假之后被裁员了，不过运气好，因为我本来就打算要走了。

Made redundant after being on furlough, which was good luck as I was about to leave anyway.

所以在0%利率结束前一个月就全额还清了，可能省了不少钱，而且我很快就找到了新工作。

So paid them off fully one month before the 0% ended, probably saved a fair amount, and I immediately got another job.

太棒了。

Love it.

好的。

Okay.

要不我们再来一个……

Why don't we do one more...

再来两个，然后我们就……

Two more and then we've got I

我得告诉你，北安普顿的艾莉森是财务顾问，她也不听音乐。

just need to tell you that Alison in Northampton is a financial adviser, and she doesn't listen to music either.

哦，她不是财务顾问，谢伊。

Oh, she's not a financial adviser, Shay.

她也不听音乐。

She didn't listen to music either.

有道理。

Fair enough.

就我们俩。

Just us.

行，艾莉森。

Fair enough, Alison.

他们都在听第五电台直播。

They're all listening to five live.

这就是原因。

That's why.

嗯，这就是原因。

Well, that's why.

对。

Yes.

凯伦，维珍一号抵押贷款和抵消抵押贷款，就是把你的储蓄和抵押贷款放在同一个账户里。

Karen, the Virgin One mortgage and offset mortgage, so you kept your savings and mortgage in one account.

你有的任何储蓄都会抵消债务，你只需要为差额支付利息。

Any savings you had offset the debt, and you only paid interest on the difference.

比如，10万英镑的抵押贷款，但有4万英镑的储蓄，意味着你只需要为6万英镑支付抵押贷款利息，而且也是按日计算的，但你必须对财务非常有条理。

EG, a £100,000 mortgage, but 40,000 savings meant you only paid mortgage on 60,000 calculated daily too, but you had to be super organized with finance.

否则，你会觉得自己有很多闲钱可以花，或者节省数千英镑，更重要的是，节省数年时间。

Otherwise, you thought you had a lot of money spare to spend or save thousands and more importantly, years.

而且省下几年时间，就能省下几千块。

And saving years saves you thousand.

所以那种抵消式房贷，经常有人来问我。

So those offset mortgages, people often ask me about them.

这种贷款的利率通常比普通房贷要高。

So the rate tends to be higher than a normal mortgage.

所以你真的需要在里面存一大笔钱，这样省下的利息才能超过多付的贷款成本。

So you really need to be keeping a substantial amount of savings in them so that the gain on the savings outweighs the increased cost on the debt.

但如果你能做到，那这种贷款就非常划算。

But if you do that, then they can be very lucrative.

甚至可以说，比如你的工资，每个月有三千块进账。

Even as much as, let's say your salary, you've got $3 a month coming in.

工资在里面的时候，就能帮你减少三千块的房贷。

While the salary is in there, it is reducing your mortgage by $3.

当然，随着你花掉这些钱，它减少的房贷就少了。

And obviously, as you spend it, then it's reducing it by less.

但即便如此，也可能有收益，但通常只有当你存了足够多的钱来抵消增加的债务时，这种方法才有效。

But even that can be a gain, but it only tended to work if you had big enough savings to keep in there to offset the increased debt.

特雷弗，把一笔大额购买沙发和安装小型太阳能系统的费用转到维珍的三年免息余额转账卡上，然后把本来要付这笔钱的钱存进一个两年期固定利率账户，利率是4.75%。

Trevor, switch a large purchase sofa and small solar installation onto Virgin three year interest rebalance transfer, then place the cash I had to pay for it in a two year fixed interest account at 4.75%.

这就是所谓的“套现”策略。

So that's stoozing, it's known as.

这样能把太阳能系统的回本时间缩短好几年。

Brings the solar payback down by several years.

我们只剩最后一个了，你来做这个，我去找我的《大师》文件。

And we've only got one more, why don't you do that while I find my Mastermind file?

好的。

Okay.

理查德说我的房贷保险只覆盖一年的还款额，所以我按同等金额提前还了房贷，然后取消了保险，省下了保费，还减少了本金。

Richard says my mortgage insurance would only cover one year's repayment, so I overpaid the mortgage over time by the equivalent sum and cancelled the insurance, saved on premiums and reduced the capital sum.

如果条件允许，这招很聪明。

Smart move if you can

那就这么做吧。

do it.

对，这算是一种有趣的自我保险方式，而且那种还款保障保险本来也只赔付一年。

Yeah, interesting form of self insuring and those payment protection only paid out for a year anyway.

这也是当年那场丑闻的一部分，那些保险费用高得离谱。

That was one of the the whole parts of the scandal that we had when they were massively over expensive.

那我们现在就开始玩“大师头脑”吧。

So we are going to do Mastermind now.

在开始之前，我得说一句，希拉里还在这儿。

Before we do agent, I need to say, Hillary's still here.

你不能向她求助，但最后我们可以问问她要不要回答。

You are not allowed to ask her for help, but we might ask her if she wants to answer at the end.

明白了吗？

Okay?

但你不能求助。

But you can't.

那算作弊。

That's cheating.

好的。

Okay.

播放《Mastermind》主题曲。

Play the Mastermind theme tune.

大家好，欢迎来到马丁的金钱智囊团。

Hello, welcome to Martin's Money Mastermind.

阿德里安，在这个三选一的多选题测试中，你答对了25题，答错了44题，这意味着，太好了，你是……

Adrian, you have got 25 right and 44 wrong in this three option multiple choice quiz, which means hurrah, you are...

BRC。

BRC.

比随机猜的强，而且你接下来就算再错五题，也还是BRC。

Better than random chance and you could actually get the next five wrong and still be BRC.

真是前所未有。

It's unprecedented.

这是你表现最好的一次。

This is your best run ever.

你是不是要把这题出得特别难？

Are you gonna make this one particularly hard?

我知道你肯定会。

I know you are.

我知道你喜欢什么。

I know what you like.

你知道音乐，你这个狠心的人。

You know music, cruel man.

很久以前，确切地说是1967年3月，在一个不太远的产房里，在昆特和伯明翰，有个小婴儿发出了第一声啼哭。

A long time ago, well, March 1967, in a maternity ward not far, far away, Quint and Birmingham, a small child cried its first cry.

那哭声听起来就已经对生活有点失望了。

Already, it sounded mildly disappointed with life.

现在，阿德里安看着两份一模一样的报纸，这对双胞胎兄弟，正在思考自己的未来。

Now, gazing at two identical newspapers, twin sons, Adrian contemplates his future.

我想换个方向。

I fancy a change of direction.

也许回大学去。

Back to university perhaps.

我在计量经济学和绝地武士研究之间纠结，因为我太喜欢《金钱大师》了，而绝地武士研究看起来又很酷。

I'm torn between econometrics as I love Money Mastermind so much and Jedi Studies because it looks cool.

一个发光的身影出现了。

A glowing figure appears.

阿德里安，我是，哦，没什么，欧比旺。

Adrian, I am, oh, no one, Kenobi.

一条路通向回归分析、标准差，那是电子表格的黑暗面。

Down one path lies regression analysis, standard deviations, the dark side of the spreadsheet.

另一条路则是光剑理论、原力课程，还有一篇关于贾巴是否为他那间小屋交过市政税的论文。

Down the other, lightsaber theory, a module on the force, and a dissertation on whether Jabba ever paid his council tax for his hut.

我有种不祥的预感，但即使是绝地武士也需要资金。

I've got a bad feeling about this, yet even a Jedi needs funding.

所以，阿德里安，前面那些都是为了引出这个问题。

So all that, Adrian, was a setup for this question.

这是个……

It's a...

是什么呢？

What's it?

爬很长的坡，就为了吃一顿很小的野餐。

A long walk up a steep hill for a very small picnic.

阿德里安，你现在59岁，开始一个三年的学位，总共借了5万英镑的学费和生活费贷款，按照英格兰计划五的规则，也就是目前英格兰新生适用的规则。

Adrian, you start a three year degree now aged 59, taking out £50,000 total in tuition fees and maintenance loans under the English plan five rules, which are the rules for current English starters of university.

如果你到了国家养老金年龄（对你来说是67岁）时还欠着钱，你的还款会怎么样？

If you still owe money when you reach state pension age (sixty seven for you), what happens to your repayments?

选项A：还款在65岁就已经停了，新希望。

A) They would have already stopped at 65 a new hope.

选项B：到了国家养老金年龄才停，养老金领取者的归来。

B, they stop when you reach state pension age, return of the pensioner.

C，你继续按常规收入规则还款，帝国反击战。

C, you keep repaying under the usual income rules, the empire strikes back.

所以你借了5万9，你67岁了，还欠着钱。

So you've taken out 59, you're 67, you've still got money owing on it.

他们会……

Would they...

是不是65岁就停了，还是到国家养老金年龄才停？

It have already stopped at 65, would it stop at state pension aid?

就算你已经到了国家养老金年龄，你还会继续还款吗？

Would you keep repaying even though you've now hit state pension age?

我挺惊讶的，我这个年纪还能借到钱。

I'm amazed I could get a load at this age anyway.

我确定能借到吗？

Can I definitely get one?

你不仅能借到学费贷款，因为你还没到60岁，如果动作快的话，还能借到生活费贷款，不只是学费。

Not only if you get a loan, because you're under 60, if you did it very quickly, could actually get a maintenance loan as well, not just tuition fees.

只要你是第一次上大学，之前没上过大学就行。

As long as your first time going to university and you've not been before.

所以你不能读第二个本科学位，你明白我的意思吧。

So you can't do a second first degree, if you know what I mean.

但我之前上过大学啊。

But I have been before.

但就这个问题而言，是也不是，阿德里安。

But yes and no, but not for the setup of the question, Adrian.

好吧，行，行。

Okay, alright, alright.

你早该告诉我的。

You could have told me.

另外，我们其实没有活着的绝地武士。

Also we don't actually have a live Jedi.

我觉得应该是……

I think it goes...

我觉得是C。

I think it's c.

所以你还是按照通常的收入规则来还款，就像《帝国反击战》一样。

So you keep repaying under the usual income rules the Empire Strikes Back.

希拉里在这儿，我们要让你现场回答一下，这没什么大不了的，答错了也别担心。

We've got Hillary here, we're going put you on the spot, it's not what you do, so don't worry if you get it wrong.

你的同事会取笑你，但除此之外你不会有事的。

Your colleagues will make fun of you, but otherwise you'll be fine.

他们肯定会取笑我，但我还是选B。

They will and they'll love I would go with B.

好的。

Okay.

那么这个问题真的很有意思，因为你的学生贷款什么时候被免除，取决于你参加的是哪个学生贷款计划。

So now this is a really interesting question because when your student loan is wiped, depends on which student loan plan you have.

比如说，如果你在1998年到2005年之间在英格兰、威尔士和北爱尔兰开始上学，那么你的贷款会在你65岁时被免除。

For example, if you started between 1998 and 2005 in England, Wales and Northern Ireland, your loan is wiped when you hit '65.

如果你在那之后开始，那么可能是在你开始或离开大学后的那个四月起的30年或25年后。

If you started after than that, then it may be 30 or twenty five years after the April after you start, after you left university.

关于我们正在讨论的第五类贷款，规则是学生贷款在你首次应还款的那个四月起的40年后被免除。阿德里安惊人地击败了希拉里，奏响了哈利路亚，创造了历史。

On the plan five loan, which we're talking about here, the rules are the student loan is wiped, forty years from the April you were first due to repay, Adrian staggeringly beat Hillary, play the Hallelujah and made history.

如果我击败了希拉里，那应该算双倍积分。

If I'm beating Hillary, that's worth double points,

当然。

surely.

半分，一分，对。

Half point, point, yeah.

我几乎想给你这个分，但这真正有趣的地方在于，你偿还的金额取决于你的收入。

I'm almost tempted to give it you, but this is what's really interesting about this, of course, is the amount you repay depends on your income.

即使在第五类学生贷款系统下，你也要偿还你收入超过25,000英镑部分的9%。

Even on the plan five student loan system, you are repaying 9% of everything you earn above £25,000.

所以对于很多后来贷款和后来申请学生贷款的人来说，关键是在你收入下降时，你的收入可能低于门槛。

So the key for many people who take loans later and student loans later is when your income drops, you may have less income than the threshold.

所以实际上，除非你有一笔相当可观的养老金收入，否则你本来就会停止还款。

So you would in practice, unless you had quite decent pension income coming in, stop repaying anyway.

只是你的贷款不会在四十年后被免除。

It's just your loan isn't wiped for forty years.

这倒也说得通。

And that sort of makes sense.

如果有人在62岁时去读了个学位，退休后碰巧有很多财富，他们为什么不回馈这个体系呢？

Somebody goes and does a degree at age 62 and then happens to have a lot of wealth in their retirement, why would they not be contributing back to the system?

但有趣的是，我们确实看到很多年纪较大的人，即使退休了，在生命末期也没有去读学位，虽然你不能再申请生活费贷款，但你仍然可以去上大学。

But it is interesting, we do see many older people who've not gone for a degree towards the end of life, even once they're in retirement, you can no longer get a maintenance loan, but you can still go to university.

你可以带着低于两万五千英镑的养老金收入开始上大学，而且知道如果你贷款的话，你永远不需要还一分钱。

You could start university with pension income under £25,000 and know you'll never be repaying a penny if you took the loans.

这就是这个体系的运作方式。

That's just how the system works.

就是这样。

So there you go.

你打算选哪个？

Which one are you going for?

计量经济学还是绝地武士研究，艾德林？

Econometrics or Jedi studies, Edrin?

你知道吗？

Do you know what?

我从来没看过《星球大战》。

I've never seen Star Wars.

天哪。

Goodness me.

你还好意思说我音乐的事。

And you had a go about me and music.

好吧，你说得对。

Well, you're right.

但我得纠正一下。

But I've got a rectify.

我就是一直没看过。

I've just never seen it.

我不是故意要抬杠。

I'm not trying to make a deliberate point.

我，那是作业。

I That's homework.

对，确实是作业。

Well, it is homework.

阿德里安，用原力吧。

Use the force, Adrian.

我老是搞不清楚该从哪一部开始看，因为不是……

I always get confused about where I'm supposed to start because it's not...

好像是第三部还是……

It's sort of the third or the

作为成年人，你应该从《新希望》开始看。

As an adult, you start on The New Hope.

你不会从第一部开始看。

You don't start on number one.

你明白了吧，因为你不……

You've got it because you don't...

他们可能会让你失去兴趣。

They might put you off.

你应该从最初的《星球大战》开始看，就是七十年代那版。

You wanna start on the original Star Wars, the 1970 whatever edition.

我更喜欢《星际迷航》，但我还是喜欢我自己。

I prefer Star Trek, but I still like myself.

如果你把《百老汇的羔羊》整张专辑听完，我就那么做。

I'll do that if you listen to all of Lamb Lies Down on Broadway by

抱歉。

Sorry.

我没听清。

I couldn't hear that.

这些声音

These sounds

好的。

Okay.

谢谢，马丁。

Thanks, Martin.

就这样。

And that's it.

嗯，通常到这个时候我们会做播客的额外内容，但我觉得我们已经把所有内容都覆盖了。

Well, normally at this point, we do pod extras, but I think we managed to cover everything.

希拉里在谈论金边债券时表现得很棒。

Hillary was great on gilts.

我很想听听你们对这个话题的提问。

I'd love to get your questions in on that.

希望你们都能听懂。

I hope you managed to understand it.

再说一次，这话题有点小众，但我觉得这正是我们需要多聊的，好让大家知道外面有哪些选择。

Again, it's a little bit niche, but I think it's the type of thing we need to talk about more so people know what is available for them out there.

感谢所有联系我们的人。

Thanks to everybody who got in touch.

这周就到这里。

That is it for this week.

我们一般每周四和周一更新一期，周一是问答时间，你们可以问我任何问题。

We tend to put out a new episode every Thursday and Monday, which is our question time podcast, where you can ask me absolutely anything and everything.

如果你喜欢今天的节目，请告诉你的朋友你在听马丁·刘易斯播客。

If you've enjoyed today's show, please tell your friends you've been listening to the Martin Lewis Podcast.

顺便订阅一下，给我们留个评论怎么样？

And why not subscribe and leave us a review?

这样你的钱包会感谢你，我们也会感谢你。

Then your pockets will be pleased with you, and we will be too.

如果你不喜欢，还听了这么久，那我觉得你该有点愧疚。

And if you haven't enjoyed it, you've been listening this long, well, I think you should feel a little bit guilty.

毕竟，你自己做的决定，自己承担后果，怪不得别人。

After all, you made your own decision, you made your own bed, no one else to blame.

马丁·刘易斯是moneysavingexpert.com的创始人。

Martin Lewis is the founder of moneysavingexpert.com.

当然，还有其他消费者和比价网站可供选择。

But of course, other consumer and price comparison websites are available.

你可以通过发送邮件至martinlewispodcast@bbc.co.uk联系马丁播客的制作团队。

You can get in touch with Martin's podcast production team by emailing martinlewispodcast@bbc.co.uk.

播客中提到的优惠和利率在录制时是准确的。

The offers and rates mentioned in the podcast are correct at the time of recording.

不过，如果你是在点播收听，最好再核实一下，因为信息可能会过时。

However, if you are listening on demand, it's worth double checking as details can date.

记得在BBC Sounds上订阅，无论你在哪里收听，都请给我们留下评论。

Remember to subscribe on BBC Sounds and leave us a review however you listen.

那么，快速回顾一下夏天的情况。

So, quick summer recap.

热浪、数据泄露、AI黑客、拿手机，还有一只走红的脊柱有问题的浣熊。

Heat waves, data leaks, AI hacks, holding phones, and a viral spinally challenged raccoon.

对，差不多就这些，对吧？

Yeah, think that, covers it, right?

我是托马斯·杰曼。

I'm Thomas Germain.

我是杰丝·马多克斯，The Interface节目从暑假回来了。

I'm Jess Maddox, and the interface is back from its summer break.

新一季，新搭档，还是深入探讨那些塑造我们世界和生活的科技。

New season, new cohost, same deep dives into the tech that's shaping our world and our lives.

所以在AI消灭全人类之前——

So before AI wipes out all of humanity

据说是这样。

Allegedly.

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