许多人在为孩子储蓄或投资时犯的最大错误……

我们假设如果你存钱，利息会留在账户里，复利计算。

We're going to assume that if you had savings, you kept the interest in the account, so that compounded.

如果你投到基金里，股息——也就是股票和基金带来的收益——也会再投资，买更多份额，同样复利增长。

And if you put it in a fund, then any dividends, that's the income you make on shares and funds, were also reinvested and bought you new shares, so they compounded too.

要注意，我们看的这个时间段利率特别低。

It's worth noting this particular period we're looking at was a very low interest rate period.

所以存钱的回报率低得可怜。

So the savings returns were particularly low.

那几年英国基准利率一直只有百分之零点五左右。

It was all those years of, you know, half a percent UK base rates.

但即便如此，对比一下这整整十年，还是能清楚看出差别。

But still in contrast, this is a long ten year period just to show you the difference.

如果你一开始存了一千英镑，十年后你总共能拿到270英镑的利息。

So if you'd put a thousand pounds in savings at the start, at the end, you would have made £270.

也就是说，最后你手上有1270英镑。

In other words, you'd have got £1,270 back.

但光是跟上通胀，你就得拿回390英镑才行。

But just to keep up with inflation, you would have need to get £390 back.

换句话说，你的钱根本没跑赢通胀。

So in other words, you didn't keep up with inflation.

所以说实话，就算你把钱存进当时最顶尖的储蓄账户——比如马丁·刘易斯推荐的那种——你的购买力还是缩水了。

So in real terms, by putting your money in the savings, and these were the top savings it was calculated upon, you know, the MartinLewis top savings account for the time, you would have still actually seen your purchasing power diminish.

十年后，你账户里那1270英镑，根本买不回当初1000英镑能买的东西。

You know, you would not have had enough in the account after ten years with £1,270 to buy what a thousand pounds would have bought you with when you first put it in.

现在咱们来看看，要是把这笔钱投到几个不同的指数基金里，会是什么结果。

Now let's contrast that to a couple of different tracker fund investment options.

如果你当初把1000英镑投进全球指数基金，再把分红全部再投资，十年后你就能赚到1980英镑。

If you had put the thousand pounds in a global tracker and had the dividends reinvested by the end of the ten years, you would have made £1,980.

也就是说，你最后能拿回2980英镑，差距大得离谱，完全碾压储蓄账户。

In other words, you'd have got £2,980 back, a massive difference far above inflation and smacking the pants off savings.

要是你投的是标普500，也就是美国最大的500家公司，那会更夸张，那段时间科技股涨得飞起，你最后能拿回3790英镑。

If you've gone to put it in the S and P 500, which is the top 500 US biggest shares, well, that had a very high growth at the period because lots of tech firms did well, then you would have got back £3,790.

所以这相当于你原来的那一千英镑，外加额外的两千七百九十英镑。

So that's your original thousand pounds plus another 2,790 on top.

再对比一下，存银行的话你只能拿到区区二百七十英镑。

Concess that to just the £270 you would have got in savings.

当然，大家都知道，而且确实没错，过去的表现并不能代表未来的结果。

Now, of course, as you're supposed to say and as is absolutely true, past performance is no indicator of future performance.

所以，这种事情下次会不会再发生，谁也说不准。

So there are no guarantees this would happen again.

同样，也不能保证标普500在那个时期就一定能赢。

There are also no guarantees that the S and P 500 would outperform in that period.

但我只是想让你看看，把钱投到分散的投资里，和存银行相比，差距到底有多大。

But I wanted to give you just the scale of magnitude of difference of putting money in a broad spread of investments.

这些全是指数基金，跟存银行在十年里的表现做对比。

So these are all tracker funds compared to putting it in savings over that 10 period.

你也可以自己上网查查不同时间段的走势图，做个对比。

And you can go back and look at graphs online to see different periods compared.

这也是为什么咱们现在聊到儿童储蓄账户（Junior ISA）的时候，它完全适合用来投资，而不是单纯存着吃利息。

And the reason when we start talking about Junior ISAs, they are absolutely ripe as a choice for investing, not saving.

这就引出了两大核心问题：如果你打算拿部分资产去投资，得先想清楚——这笔钱你现在是不是用不上？

And this is why the two big questions about whether it's time for you to invest or not with some or all of your not all of your some of your assets is, is it money you don't need to access at the moment?

还有，这笔钱是不是你要长期存起来的，比如……

And is it money you're putting away for the long term, e.

比如说……

G.

至少要放满五年才行。

A minimum of five years.

另外，存在儿童个人储蓄账户（Junior ISA）里的钱，在孩子满18岁之前是取不出来的。

Now money in a Junior ISA is locked away until your child is 18.

所以如果你把钱放进这个账户里，本来就用不上这笔钱。

So if you're putting money in the Junior ISA, you don't need access to it.

本来就没人能取这笔钱，毕竟这个账户的规则就是要把钱锁到孩子18岁嘛。

They don't need access to it because by definition, you're locking it away till they're 18.

第二个问题是，你这笔钱是不是打算长期存放的？

And the second question money you're putting away for the long term.

除非你孩子都快成年了，不然你存这笔钱，本质上就是冲着长期去的。

Well, unless you're starting in their late teens, you are by definition putting money away for the long term.

所以，儿童ISA恰恰就是那种特别适合考虑投资的黄金选择。

So Junior ISAs absolutely sit in that sweet spot of when it is right to consider investing.

而且选择多得很。

And there are many choices.

如果你给孩子存钱，而且注定要长期持续投入，那你不把至少一部分钱放进股票型ISA，其实是亏了。

I think if you're putting money away for a young child and you're gonna be putting money away over, by definition, a long period in a Junior ISA, there's an argument you are subserving them quite substantially by not putting at least some of that into a shares ISA.

我直说吧：你只能开一个现金儿童ISA，也只能开一个股票型儿童ISA，但你可以两个都开。

Now let me be plain, you can only have one cash junior ISA, you can only have one shares junior ISA, but you are allowed to have a cash junior ISA and a shares junior ISA.

如果你担心全投股票型ISA太冒险，那就两个都开，钱分着放——只要每年总共不超9000镑，完全没问题。

So if there is a nervousness that I don't want to put it all into a shares Junior ISA, you can have both and you can put some in each, can put it as long as you're not putting more than a total of 9,000 in both in a year, that works really well.

至于去哪儿开儿童ISA、钱投什么产品，这个就得小心了。

As for where you get your Junior ISA and what you put the money in, well, we have to be careful.

新手最常选的就是指数基金，比如跟踪标普500或者富时100这种美国或英国顶尖公司的基金。

The obvious beginner type stuff is a tracker fund which tracks a market performance like the S and P 500 top US companies or the FTSE 100 top UK companies.

我们做投资专题的时候聊过新手入门，金融规划师埃德·马歇尔在迪恩财富管理公司跟我说过这么一句话，我提到这个投资建议时他特别认同。

We did our investment program and talking about beginners investing and Ed Marshall, who's a financial planner at Dean's Wealth Management said this when I mentioned that on the investment and asked about it.

没错。

That's right.

但你光投富时100或者标普500还不够，得看得更远。

But and you wanna be out you wanna be more than just the FTSE one hundred or the S and P five hundred.

你看MSCI全球指数，覆盖了全球两千五百家最大的公司，但你还能找到更广的全球指数基金，投的公司能超过两千五百家。

If you look at the MSCI World Index, you've got the world's largest two and a half thousand companies, but then you could buy global tracker funds that will buy even more than those two and a half thousand shares.

别只盯着两百家公司，尽量选五千家以上的，把全世界都买进来，这样分散风险，才能真正把波动压下来。

So instead of just 200 different companies, try and aim for 5,000 plus different companies and try and buy the world, and that diversification will help to take risk off the table.

所以如果你打算为孩子长期存钱，哪怕你特别保守，比如每月只投一百镑，也别全放现金，至少拿十到二十镑放进Junior ISA，每月慢慢投，这样能避开市场的短期波动。

So for those people who were considering putting money away for their kids for the long period, I mean, even if you're really risk averse, let's say you're putting a £100 a month, put 10, put 20 of that into a Junior ISA, drip feeding it each month, which takes out the vagaries of the markets.

如果你想找靠谱的平台开Junior ISA，像Hargreaves Lansdown、AJ Bell或者富达这些投资平台都挺合适的。

If you're investment savvy providers that let you open junior ISAs, the likes of Hargreaves, Landsdine or AJ Bell or Fidelity.

如果你刚接触投资，可以试试机器人理财，它会根据你的风险偏好自动帮你选基金，你几乎不用操心，比如Aviva的Wealthify和Money Farm。

If you're new to investing, you've got robo investors, which try and do it in the rough risk assessment based on you with you having to do very little and automatically picking funds for you like Aviva's Wealthify and Money Farm.

当然，如果你有独立财务顾问，一定要去问问他们的意见。

Of course, if you've got an independent financial advisor, absolutely speak to them about it.

不过我得强调一下，我刚才说的这一点特别重要。

But I do need to make, started on this, I need to be really strong.

你们很多人都急着想为孩子攒钱、打造未来保障，但要是全存银行储蓄，锁个十年、十五年、甚至十八年，我觉得反而可能亏了。

So many of you are so desperate to protect your children and build a nest egg for them for the future, but by putting it all in savings, if you're locking it away for ten, fifteen, eighteen years, I think you're probably doing a disservice.

我觉得，为了获得更好的回报，适当承担一点风险是必要的。在这段时间里，我建议把钱——哪怕全投——放进跟踪指数的儿童ISA里，但千万别只买一只股票。

I think there is an element of risk that you need to take in the hopes of greater growth and some of it I think is probably worth putting or all of it if you choose to in a shares junior ISA over that period, but not in one share.

记住啊，全押一只股票，风险太大了，搞不好血本无归。

Let's remember, put it in one share, huge risk, could lose all your money.

就像埃德说的，用指数基金投5000家不同公司，把风险分散开，波动也平滑了，你其实就是说：我投点钱，指望世界经济像往常一样慢慢增长，只要它涨了，我就跟着受益。

Put it in, as Ed said, 5,000 different companies by using a tracker fund that maps 5,000 different companies returns, then you're spreading the risk, you're smoothing it all out, and you're hoping, you're basically just saying, I'm putting some money in the hope that the world economy grows as it usually tends to do and if it does grow I'll benefit from that growth.

露丝·哈斯问：我能为我的孙子孙女开儿童ISA吗？还是必须得孩子父母来办？

Ruth Haas says can I open Junior ISAs for my grandchildren or does this have to be done by their parents?

必须由父母或法定监护人来办理。

Got to be done by their parents or or legal guardians.

丹，想给一个9岁和一个12岁的孩子找最好的儿童ISA，他们俩都有存款，自己还不知道呢， wink，每个月各存100英镑。

Dan, looking for a best high junior ISA for a nine year old and a 12 year old, both have savings they don't know about, wink, will be £100 a month going into each.

说到这个年纪，我建议你可以考虑把一部分钱放进儿童ISA，但每月存100镑的话，利率最高的其实是汇丰的定期储蓄账户。

Well, again, I would argue at that age, you might want to look at putting some of it into a junior ISA, but a £100 a month well, the top interest would actually be the Halifax regular sabre.

不过这就不属于儿童ISA了。

It wouldn't be in a junior ISA.

其他的话，还是我前面提到的那些选项。

Otherwise, it's all the ones I mentioned earlier.

明白了。

Okay.

夏博，对于有年幼孩子的父母来说，为孩子未来存钱最好又最稳妥的方式是什么？

Shabbo, what is best way and safest way for parents of very young children to save for their children's future?

我说的‘最稳妥’，指的是银行、储蓄互助社、信用合作社这类机构。

By way of safest, I mean, bank, building society, credit union, etcetera.

还有那些对金融不太懂、也不熟悉术语的家长。

Also for parents who are not finance savvy and those who don't know the jargon, etcetera.

这其实又回到你刚才说的了。

What it goes back to what you just said

你看，如果你问我的是安全性，那我得先回答你真正关心的问题——我觉得我已经说得很清楚了，你大概该怎么做。

Well, you see, if you ask me safer, so if I answer the question I'm being asked, right, and I think I've made my my view on on what you probably should be doing pretty plain.

但既然你问了，我提过的每一个儿童储蓄账户和儿童ISA，都受金融补偿计划保护。

But to answer the question, every Junior ISA and Children's Savings Account I have mentioned is covered by the Financial Services Compensation Scheme.

这是一个政府背书的保障机制，万一金融机构倒闭了，每个人在每家机构最多能拿回12万英镑。

So that is a government backed scheme that means in the unlikely event that financial institution went bust, you would get the first £120,000 per person per financial institution back.

不过，很少有家长会在儿童现金ISA里存这么多钱。

Now, very few people are gonna have anything close to that in Cash Junior ISAs.

所以，我提到的所有机构，你孩子存的钱都完全受保护。

So your child's money would all be protected in every institution I've mentioned.

只要是在英国受监管的储蓄机构——我提到的这些全都是——就能享受这个保障。

And as long as it's a UK regulated savings institution, which everything I mentioned has been, or the savings things I've mentioned have been, then you get that protection.

所以我的建议是，你该重点关注利率。

So you should be focusing on rate, would be my view.

如果你跟我说，你就是想要绝对安全，那也行。

Now you might, if you're saying to me, just want real SAFE.

你可以选NS&I，这是国家办的，本来就全是政府背书，根本不需要什么存款保障计划，存多少都全额保障。

Well you've got NS and I, which is state owned, so that doesn't have the saving safety compensation because everything in there is government backed anyway, so there's no limit on the amount in there.

但我要说，安全是一回事，风险嘛，其实挺有意思的，风险。

But I would say safety is one thing, but risk, it's really interesting, risk.

我们总把‘风险’当成个坏词，其实不是。

Risk is we are so caught up that risk is a negative term.

风险其实就是波动性的衡量。

Risk is a measure of variance.

风险说白了，就是结果的不确定性。

Risk means variance of outcome.

你投资，是希望收益远超储蓄，但也要接受可能拿不回全部本金。

So you invest in the hopes, you get very substantially greater growth than savings but accept that you might not get all of your initial money back.

但从长期来看，分散投资的话，收益大概率还是超过存钱。

But on the balance of probabilities in a broad spread of assets over a long period, the vast likelihood is investing will outperform saving.

如果你想为孩子安全地存一笔钱，这完全看你自己的选择。

So if you want to put money away safely for your kids, is your choice.

不过呢，像我说的，你也可以稍微冒点险，指望这笔钱能帮他们在18岁的时候攒下更多积蓄。

But you might also, as I say, want to risk a little bit and cross your fingers that it hopes build them a bigger nest egg for the age, once they're age 18.

明白了。

Okay.

邓肯·哈珀。

Duncan Harper.

孩子出生的时候，我就给他们每人开了一个儿童现金储蓄账户。

I started two junior cash ISAs when the children were born.

一个在特易购，现在利率3.25%，另一个在全英住房协会，目前是2.8%。

One with Tesco, currently 3.25, the other Nationwide, currently 2.8%.

之后我就一直按时往里存，本来也没多想，就打算这么一直存到他们18岁。

I've just kept paying into them since, and I assumed I would just keep doing that until they were 18.

但我还该做点别的吗？要不要把账户转走？

But should I be doing anything else or moving them if I can?

说实话，这些利率不算差，但也不是最好的。

Well, look, I would always those rates are are not bad rates, but they're not the best rates.

如果你一直用现金JISA，我建议每年换一次到利率最高的那个。

So I mean, if you're keeping money in cash ISAs, I would be transferring them to the best rates once a year.

比如Leap建筑协会有3.85%，需要网上操作；NS&I有3.55%。

Leap Building Society, 3.85% if you want online access, NS and I at 3.55%.

我一般都会定期转过去，但你也可以考虑把现金JISA里的钱转成股票JISA，反过来也行。

I And would just be doing a transfer and moving them, but I would also be considering you can transfer money from Cash Junior ISAs into Shares Junior ISAs and vice versa.

如果你愿意，可以把孩子账户里现有的钱拿出一部分投到股票JISA里。

So if you wanted to put some of the money they already have into a Shares Junior ISA, you could.

当然，你也可以继续留在原账户，或者转到利率更高的现金JISA——我始终推荐这么做。

Equally, you could start keep the money where it is or transfer it to a better paying cash Junior ISA, I'd always suggest that.

同时，也该开始往股票账户里存点钱了。

And start putting some money into shares for them.

接下来大家还有好多关于孩子储蓄和投资的问题要解答

And we have many more of your children's saving and investing questions still to come.

不过先别急，咱们先来读观众来信吧

But first, let's do the tellers.

对了，就算这些都聊完也别急着走，你要是听到播客最后，还有更多内容能听

Oh, and even after we finish that, if you listen to the end of the podcast, there are even more there too.

这期内容量直接拉满了

It's a bonanza.

跟我们说说柜员的情况吧。

Tell us about the tellers.

你有没有因为什么特别便宜的东西去找过商店投诉？

What's the cheapest thing you've ever taken back to a shop to complain about

那东西是啥，又为啥要投诉呀？

and why?

我超爱聊这个话题！

Love this.

太棒了。

Love it.

你想先讲迈克罗夫特·布朗的故事吗？

Do you want to do Mycroft Brown first?

哦，你也有这种东西啊。

Oh, I you've got one of these.

我的天，光是你干这事儿一次，就够《卫报》写一篇专栏了。

This is I mean, I I can see a column in the Guardian just on you doing this once.

是的。

Yes.

当然了。

Absolutely.

这专栏简直是现成的。

The the column writes itself.

你瞧就行了。

It's just look.

这是迈克罗夫特·布朗。

It's Mycroft Brown.

我跟你是一伙的。

I am with you.

我把一颗花椰菜退回去了。

I took a cauliflower back.

九十九便士。

Ninety nine p.

花椰菜这点也真让我烦。

This annoys me about cauliflowers as well.

看着挺大的嘛。

It looks a good size.

把外面的叶子全剥了，就这玩意儿，我一个人根本做不了花椰菜奶酪。

Peeled all the leaves off, and I'd struggle to make cauliflower cheese for one with it.

说到底，花椰菜不就是这问题吗？

I mean, it is a problem with cauliflowers, isn't it?

我知道这可不是收银员该操心的事。

Which I know isn't the point of the teller.

有时候那玩意儿全是叶子，连个白花花的花球都看不到。

Sometimes they're all leaves and no sort of white bit.

叶子倒是可以炒着吃，但你买花椰菜不就是为了吃花球吗？

I mean, you can cook the leaves, but you buy a cauliflower for the florets, don't you?

可惜啊，大自然可没有客服热线。

Unfortunately, I don't believe nature has a complaints department.

好吧。

Okay.

那咱们走着瞧吧。

Well, we'll see about that.

我敢打赌，咱们肯定能找到解决办法。

We I'm sure we can I'm sure we can find one.

说来也巧，就在昨晚，我差点儿买了一袋土豆——那天我请朋友吃饭，去附近小店买了袋土豆，伸手一掏，结果手指直接穿进土豆里了。

Funnily enough, I nearly took I nearly took up only last night, I nearly took a potato bag because I bought I have some friends for dinner, and I I took all the I bought the bag of potatoes from the local shop, pulled out one of the put my hand in the bag to pull out one of the potatoes, and my my fingers went straight through the middle of it.

哦，他们才不想要这个呢。

Oh, they don't want that.

天啊，这也太糟了。

And Oh, it's too terrible.

我当时真想冲回去找他们理论，但后来一想，等等再说。

I literally I was like, I'm going gonna go storming back, and I thought, hang on a minute.

确实挺恶心的，不过那袋里另外十个土豆还好好的。

It is disgusting, but, I mean, the other 10 potatoes in there were alright.

所以我没那么生气了，但你懂的，这事儿吧……

So I calmed down a bit, but I'm you know?

迈克罗夫特怎么了？

What what happened to Mycroft?

你把我们都吊在这儿了，阿德里安。

You've left us all on tenterhooks, Adrian.

说来有趣，他们拿回去的时候还挺惊讶的。

Well, I'm delighted to say they were quite surprised taking it back.

他卖的是99便士的花菜，但他们让我挑了个满意的，就放我走了。

He's 99 p cauliflower, but they let me pick one I was happy with and sent me on my way.

这个才是我最喜欢的一个，下一个。

Now this is my favorite one of the whole lot, the next one.

它其实跟我想做的整体风格不太搭，毕竟是个正经错误，但真把我逗得哈哈大笑。

It doesn't really fit in with the sort of theme I was trying to do that well because it is a legitimate error, but it did make me laugh out loud.

所以我很高兴能读到它。

So I'm glad I get to read it.

这是来自杰克爵士的，二十二号。

This is from Sir Jack twenty two.

我把杜蕾斯退回到药店了。

Took Durex back to the chemist.

他们用棕色纸袋装着给我的。

Was given them in a brown paper bag.

我本来要的是耳垢，用来做耳垢罐的。

I'd asked for earwax for pots earwax.

天哪。

Oh, god.

我有个故事，讲的是我第一次买杜蕾斯的事，不过现在得先问问编辑部，看能不能讲。

I've got a story about when I first bought Durex ever, and I but now I'll have to run it past editorial policy to see whether I can tell

你得好好保护自己。

it to You need you need to keep yourself protected.

没错。

That's right.

对。

Yes.

说得太好了。

That's that's very good.

我儿子朱迪·帕森斯，当时11岁，花一英镑买了个悠悠球。

Due Judy Parsons, my son, then 11, bought a yo yo for a pound.

走了二十码远，球就坏了。

20 yards down the road, it broke.

他把玩具退了回去，店家却说他玩的方法不对。

He took it back, and they tried to tell him he'd been playing with it wrong.

我自己玩悠悠球也经历过不少起起落落，真的。

I've had a lot of up and down experiences with yo yos myself, to

说实话。

be honest.

你说他们根本不知道？

You said they didn't know.

你能不能别老推卸责任了？

Can you stop with the pawning?

这可是正经内容，不管怎样，朱迪说，他们根本不知道我儿子是谁。

This is important material, doesn't Anyway, Jude says, so Jude says they they didn't know my son.

他长篇大论地讲了自己的权利和他们的责任。

He explained at length his rights and their obligations.

最后他把钱要回来了。

He got his money back.

我超喜欢你的儿子，朱德。

Love I love your son, Jude.

对。

Yes.

朱德真该来上个节目。

Jude Jude should come on the show.

维克托，三磅重的一束花。

Victor, three pound bunch of flowers.

标签上说能撑五磅，结果才撑了三天。

Label said they last five pounds, but they only lasted three.

不情愿地把钱要回来了。

Begrudgingly got my money back.

我说不情愿，是因为那小姑娘对这点小钱儿一脸不屑，明摆着看不起。

I say begrudgingly because the young lady made her thoughts on the trivial amount very obvious.

我走的时候，光是想到这事儿就忍不住笑了。

That just made me chuckle as I left.

你买东西的时候，我老说一个二十年前去参加杰里米·文电台节目路上想出来的顺口溜：买的东西得符合‘伤心放屁’原则。

When you buy goods, I mean, I always say that my mnemonic that I came up with twenty years ago now on a on a journey to the Jeremy Vine radio show is that if you buy something, it you it's the sad fart rules.

这些店员啊，真就是‘伤心放屁’型的。

And I think these tellers really are sad farts.

我说这话可全是夸奖的意思。

And I say that with all the plaudits it implied.

'伤心放屁'的意思是：你买的东西，首先得质量合格，这是S。

Sad fart stands for you buy something, it must be satisfactory quality, that's your S.

对。

Yeah.

得跟描述的一样。

As described.

现在咱们说完了‘伤心’。

So now we've got sad.

接下来‘用途合适’这部分我有点偷懒了，实在想不出更好的说法。

Fit for purpose, the next bit I had to cheat on because I couldn't quite work it out a better way.

而且要能用上一段合理的时间。

And last a reasonable length of time.

质量合格、与描述一致、适用目的，还能用上一段合理的时间。

Satisfactory quality as described, fit for purpose and last a reasonable length of time.

比如三英镑的一束花，标签上说能放五天，结果三天就蔫了，这明显和描述不符。

Now clearly, three pound bunch of flowers, label said they last five days, they only last three, was not as described.

还没到‘fart’这部分，就已经出问题了。

So it fell down before we even got to the fart.

问题出在‘sad’这一关就挂了。

It fell down just on the sad.

你说得对，朱德·帕森斯。

You are quite right, Jude Parsons.

你完全有权利要求全额退款。

You had a right to a full refund.

接着说。

Go on.

乔纳森·马伊凯斯或马伊凯斯·皮尔斯说，1991年他买了一个60便士的奶酪沙拉卷，带回去发现……

Jonathan Mahiques or MahiquesPierce says in 1991, took a 60 cheese salad roll back to a local corner shop.

为啥？

Why?

因为那玩意儿里头根本没黄油，也没奶酪，连沙拉都没有。

Well, because it had no butter in it or cheese or salad.

说实话，他这诉求挺有道理的。

I mean, he's got a strong case there.

说白了，就给我个面包团子装袋里得了。

Basically, give me an on top lump of bread in a bag.

咱们在‘货真价实’这一点上，确实严重辜负了消费者的权益。

We're seriously falling down on the as described element of your consumer rights in that.

对啊。

Yeah.

艾丽卡，有个气球。

Erica, a balloon.

我给我爸八十岁生日买了个‘8’和‘0’的气球。

I bought an eight and a zero for my dad's eightieth birthday party.

本来可能是给你八岁孩子办派对用的，但你干嘛在前面加个零啊？

Could have been your eight year old's party, but why you'd have added the zero at the beginning.

我也不清楚。

I don't know.

我去现场充气的时候发现那个‘8’其实是个‘s’，总不能挂个写着‘s’的气球吧。

Went to inflate them at the venue and the eight was an s, so you can't put balloons that said so.

或者‘我们’。

Or us.

两天后我把俩气球都退了，反正缺一个也没用，最后退了两英镑。

Took them both back two days later as one was no use without the other, and I got my two pounds back.

干得漂亮。

Well done.

听到这个我真高兴。

Glad to hear it.

基斯蒂她爸退了个最便宜的炸锅，都好几年了，早过保质期，用得破破烂烂的，字儿都磨没了，还油乎乎的。

Kirsty's dad took a chip pan back as one of the cheapest models they did and several years old, so well past the guarantee period, visibly well used, all the writing had come off, and greasy.

也不知道是看在他太可怜的份上，店家二话不说就给他换了一个。

Through sheer pity, apparently, they took pity on him and replaced it without any issue.

基斯蒂尴尬得想钻地缝。

Kirsty was mortified.

这太逗了。

I love it.

哎呀，咱们再讲几个这样的事儿，然后再回来说动物园的事儿。

Let oh, we'll do a few more of these, then we shall get back to the zoo stuff.

萨莉，一包卸妆湿巾，99便士。

Sally, a pack of eye makeup remover wipes, 99 p.

那湿巾都长霉了，我心想这玩意儿敢往眼睛上擦？太危险了，店家怎么也不管管？

They were moldy, and I thought it was dangerous that they went on our eyes, and they should know.

他们就那么盯着我，好像我疯了一样，直接把那包扔进垃圾桶，又给我拿了一包。

They just looked at me like I was mad, threw them in a bin and got me another pat.

我觉得你这做法其实避免了可能引发的卫生问题。

I actually think you'd probably save them from an environmental health type issue going on.

你做得真的很棒。

I think you did a really good job.

这事儿一点都不可笑。

There's nothing funny in that.

长霉的眼部卸妆湿巾哪能用啊，对吧？

Mouldy wipes for your eyes are not good, are they?

还有一次，Sue Panda写信给Rountree，说她买的水果糖全都是绿色的。

And, Sue Panda once wrote to Rountree as all her tutti frutis were green.

他们寄了一张一英镑的支票，还附上了一封特别贴心的质量说明信。

They sent a one pound check and a lovely explanation of quality control.

水果糖全是绿色的？我都要羡慕了。

Green tutti frutis, I'd be jealous.

对啊。

Mhmm.

这熊猫可不咋地。

Not the best panda.

再来一个吗？

You wanna do one more?

接下来我们讲Betsy Dent的事。

And then we're gonna do Betsy Dent.

对。

Mhmm.

一包40便士的爆米花。

A 40 p bag of popcorn.

我打开一看，里面全是包装用的泡沫粒。

When I opened it, it was full of packing foam peanuts.

后来才知道，这本来是该摆在店里当展示品的。

Turned out it was a display case that should have been in the shop.

店家建议我联系厂家，结果他们赔了我一张10英镑的代金券当道歉。

The shop advised to contact the manufacturer and I ended up with a 10 pound voucher as an apology.

这事儿太离谱了，我干脆退了。

The bizarreness of the situation made me return them.

大家好，欢迎来到我的理财智囊团，阿德里安。

Hello and welcome to my money mastermind, Adrian.

你这道三选一的多项选择题，对了81道，错了36道，也就是说，很遗憾，你跟瞎猜没区别。

The score stands that you've got eighty eighteen right and 36 wrong in this three option multiple choice quiz, which means sadly you are N, B, R, C.

跟碰运气差不多。

No better than random chance.

但上礼拜你终于答对了一题，已经站在突破的边缘了。

But after your triumph in finally getting a question right last week, you're now on the cusp.

一切都有望好转。

It could all get better.

没错，就是这样。

Yes, indeed.

阿德里安上礼拜答对了。

Adrian got it right last week.

我觉得正面鼓励很重要，所以我要公开说，阿德里安真的值得很多赞。

And as I think positive reinforcement is important, I want to state publicly, I think Adrian deserves a lot of credit.

可惜他那糟糕透顶的理财能力，这鼓励还真是必不可少。

And sadly, with his truly awful budgeting skills, that's highly necessary too.

你明白我刚才的意思了吧？

See where I was going there?

对。

Yeah.

我的意思是，我真得

Mean, I have to

这道题我几周前就写好了，可你偏偏这么久都没答对过。

say I wrote this question a few weeks ago, but you haven't got one right for so long.

我一直在等，就等着你终于答对一次，好趁机甩出这个烂梗。

It's just been sitting there waiting until I could do it the week you got it right so I could make that terrible pun.

阿德里安，今天的题目是关于信用或者债务——你爱怎么叫都行。

Adrian, today's question is all about credit or debt if you prefer.

这问题很简单。

It's a simple question.

我想知道这三者中哪个利率最高。

I would like to know which of these three has the highest interest rate.

是Klarna的‘先买后付’三期付款、汇丰的普通消费信用卡年利率（不含免息期），还是国民威斯敏斯特银行的标准透支利率？

A buy now pay later paying three from Klarna, HSBC's purchases credit card standard APR rate, so not including any 0% period, or Nationwide's standard overdraft rate?

就是Klarna的‘先买后付’三期付款、汇丰信用卡普通利率，还有国民威斯敏斯特银行的透支利率。

So buy now pay later paying three from Klarna, HSBC purchases credit card standard rate, Nationwide's standard overdraft rate.

你给我讲讲吧，我记得你以前说过无数次，信用卡欠债是最贵的借钱方式。

Talk me through Well, I think I've heard you say a million times that credit card debt, you know, debt on credit cards is the most expensive kind.

除非汇丰现在有啥特别优惠，不然我猜……

Unless HSBC have got a kind of special offer on So I'm

这时候我得对你客气点，

going to be very nice to you at this

对。

point Yeah.

我特意提到这些品牌，是怕你说得太笼统，但问题本身跟品牌没关系。

And tell you that I gave you specific brands because otherwise it would be too generic, but the question is not brand specific.

不过我选的这几个账户，都是市面上普通银行的标准配置。

Though all the accounts I've chosen are roughly standard for a high street version of what you're doing.

就算换成巴克莱银行，结果也是一样的。

So it would be the same if it was Barclays.

对，换成别的也一样。

It'd be the same it were Yeah.

明白了。

Okay.

对。

Yeah.

汤姆，那个Klarna的方案具体是怎样的？

Just what's the Klarna one again, Tom?

我还没完全记清楚

I'm not totally

Klarna的‘先用后付’和‘分三期付款’。

familiar pay later pay in three from Klarna.

汇丰的消费信贷卡，以及Nationwide的标准透支利率。

HSBC purchases credit card, Nationwide's standard overdraft rate.

顺便说一下，现在在家听的朋友们，该你们大声说出自己的答案了，说完就定稿，之后再看对不对。

By the way, for those listening at home at this point, this is where you need to say your answer out aloud, then you're locked in, and then you can see if you got it right.

因为之后就没机会改了。

Because you can't go later.

哦，对啊。

Oh, yeah.

我本来以为我是要你现在就说出来，就在阿德里安说之前，把你的答案讲出来。

I thought it was I was gonna I want you to say it now, your answer, just before Adrian says his.

好的。

Okay.

我的答案是

My answer is

那你来说说为什么。

And tell us why.

因为我觉得，信用卡债务肯定是最糟的，这没什么好怀疑的。

Well, because I think I don't see why it should be any less true that credit card debt is the worst.

Clara 推出了他们的产品，我其实也没完全搞懂，但我觉得，再怎么也不至于比信用卡债务还糟吧？

And Clara have come on the market with their product, which I don't actually fully understand, but I can't believe I'm not saying it's a you know, it's the cheapest way of doing things, but it can't be any worse than credit card debt, surely.

所以我选 B，信用卡。

So I would go b, credit card.

咱们就这么定了？

Can we lock that in?

就定这个了。

Lock it in.

你刚才不是说要放确认音效吗？

That's where you meant to play the lock in music.

来吧，放确认音效。

Let's have the lock in music.

锁入音乐放了吗？

Have we got the lock in music?

准备好了吗？

Have we got it?

这本来该是制造紧张感的背景音。

It's meant to be a tension bed.

不行。

No.

我搞不定。

I can't.

我可不自己来。

I'm not gonna do it myself.

我们来搞。

We'll we'll do it.

大家各自加上紧张感的背景音乐吧。

So that everybody, add the tension bed music to yourself.

对。

Mhmm.

好的。

Okay.

所以，阿德里安，你已经锁定在汇丰银行购物卡的标准年利率上了。

So, Adrian, you're locked in at HSBC purchases card standard APR.

如果你选了Klarna的‘先买后付’分三期付款，那你就搞错了。

Well, if you had chosen buy now pay later paying three from Klarna, you'd be wrong.

‘先买后付’是不收利息的。

Buy now pay later does not have interest.

它是免息的。

It is interest free.

我对‘先买后付’的顾虑不在费用上。

My issue with buy now pay later isn't the cost.

我的意思是，你只是把账单分摊到三个月而已。

I mean, you're only spreading the cost over three months.

我的问题是，很多人根本没意识到自己欠了债。

My issue is that many people don't actually realize that they have a debt.

买后付款其实也是一种债务。

That buy now pay later is a debt.

它可能是无息债务。

It may be an interest free debt.

就算只是分三个月付清，你还是进了负债的圈子。

It may be only spreading the cost over three months, but you're still entering the debt market.

很快，买后付款就要像其他信贷产品一样，被纳入《消费者信贷法》的监管范围了，这一点我特别高兴。

And we are very soon finally about to see buy now, pay later become regulated under the Consumer Credit Act, in the same way as other forms of credit regulation, which I'm pleased to say.

所以，这题 definitely 是A，那剩下的就是汇丰的消费卡和诺森布里亚的普通透支了。

So it definitely was an A, which leaves us with HSBC's purchases card and Nationwide's standard overdraft right.

阿德里安，你说得对，这两者里有一个，正是我常说的最糟糕的街头借贷产品，绝对要避开。

And, Adrian, you are absolutely right that one of those is the product I always say is absolutely the worst form of high street borrowing and should be avoided.

不过。

However.

这可不是信用卡。

It is not a credit card.

这是透支。

It's an overdraft.

来，听好了。

Play the uh-uh.

典型的街边信用卡，比如汇丰银行，利率是24.9%。

So typical high street credit card, including HSBC, interest rate, 24.9%.

典型的街边透支服务，比如全英互助银行，有50英镑的免息额度，但超过这个数就开始收费了。

Typical high street overdraft, and Nationwide has a £50 buffer, so it's above that.

所以前50英镑免息，超过的部分利率高达40%。

So it's an interest free buffer of £50, interest rate, 40%.

透支几乎都是最糟糕的借钱方式，可很多人根本没意识到自己在借高利贷。

Overdrafts almost invariably are the worst form of borrowing, but people don't feel like they're borrowing them worse.

有很多人透支利率高达40%，却还用这40%的透支款去还24.9%的信用卡债——其实信用卡利率更低，他们这么做完全反了。

There are many people out there who are overdrawn at 40% interest and then are using the money from their overdraft at 40% interest to pay off their credit card at 24.9% interest, which is actually cheaper.

你还不如只还信用卡的最低额度，先把透支额度还掉。

Whereas you'd be better just to pay the minimum on the credit card and try and reduce your overdraft.

你得记住，自从监管机构在疫情刚开始时改了透支的收费方式，把整个市场搞得一团糟，现在几乎所有主流银行的透支利率都固定在39.9%，比信用卡高多了。

It is an absolute must remember that overdrafts, ever since the regulator changed the way that overdrafts operate from going from a fee and completely bastardized the market in my view, just at the start of the pandemic, Overdrafts for pretty much all high street banks are all locked in at 39.9%, way more than a high street credit card.

如果你有透支，除非你刚好是那少数几个在免息缓冲区或者利率为0%的，否则优先还透支比还信用卡更重要。

Clearing your overdraft if you have one, unless you happen to have one of the few that's in a buffer zone or at 0%, is normally your financial priority over clearing credit cards.

你要把透支当债务来看待。

Treat your overdraft like a debt.

你心里得想着：我每个月要还100块。

In your head, you want to be saying, I want to pay £100 a month off.

这什么意思？

What does that mean?

比如你现在透支了600镑，下个月发工资后，你目标是把透支额降到500镑。

Well, if you're currently £600 overdrawn at the start of next month, once you've been paid, you want to be £500 overdrawn.

透支这东西太抽象了，很难当回事儿，正因如此，它39.9%的利率才特别危险。

It's very difficult to think of it conceptually with overdraft, which is why it's really dangerous that it's at 40%.

所以，对于那些有透支账户的人来说，这情况真不咋地。

So I'm afraid it's not a good situation for people with overdrafts out there.

First Direct 银行现在提供 250 英镑的零利率透支额度，还给你 175 英镑奖励来转户。

First Direct, by the way, has a £250 0% overdraft buffer and is currently paying you £175 to switch.

但他们不会帮你把透支额度直接转过去。

It won't move your overdraft for you.

你得先在老银行把欠款还清，然后用新银行的钱来搞定。

You'd have pay that off at the old bank, you could effectively do it with the money in the new bank.

其实还有很多别的办法能帮你摆脱透支困境。

And there's lots of other ways to save an overdraft.

阿德里安，你搞错了。

Adrian, you got it wrong.

真不好意思。

I'm so sorry.

好了，这就是《Five Live》这部分的结尾了。

Oh, and that is the end of the five live bit of the podcast.

阿德里安又搞错了。

Adrian got it wrong again.

我还真指望咱们能表现得比瞎猜强点呢。

I was so hoping we were gonna be able to play better than random chance.

结果还是不行。

But no.

我得说啊，其实就咱们俩在这儿，他又不在，我也不该抱怨。

And I have to say, and I shouldn't be whinging when it's just us and he's not here.

不过顺便说一句，这周的播客制作人是马特。

But and it's podcast producer Matt this week, by the way.

嗨，马特。

Hello, Matt.

嗨。

Hello.

对。

Yes.

就只是

Just

我回来了。

to I'm back.

你回来了。

You're back.

为了不让那些以为西蒙会来这期节目、马特会出现在《问答时间》的听众混淆一下，这期《大话题》的嘉宾就是马特。

And to confuse those who are expecting Simon on this podcast and Matt from the Question Time pod, Matt is here this week on the Big Topic pod.

我有点郁闷的是，阿德里安跟马特说：‘我知道你以前说过，最糟糕的街头债务是……’，我当时就想，对啊，我说过是透支额度。

So my frustration on this is Adrian said, Matt, he was like, so I know, I think you've said it many times that the worst type of high street debt, and I'm thinking, yes, I've said overdrafts.

我一直都说透支额度。

I've always said overdrafts.

我就是这个意思。

This is what I've it.

我们肯定说过。

We must have done it.

我肯定说过十遍了。

I must have said it 10 times.

他却说，是信用卡。

And he goes, his credit cards.

信用卡。

Credit cards.

我当时就懵了，还以为你清楚呢。

And I just went I thought you had it.

你不是已经把情况理清楚了吗？

You you'd set it up like you had the answer.

但没有，不管怎样，他也不

And no, anyway Also, he didn't

不知道Klarna是什么。

know what Klarna was.

对。

No.

没有。

No.

这也不是什么坏事。

That's not such a bad thing.

他一直没用过，但事情就是这么个情况。

He hasn't been using it, but there we go.

说得通。

Fair enough.

是啊，不过我觉得这跟代际差异也有关系。

Yeah, but yes, I think that's also a generational thing.

像你这么年轻的人，肯定知道‘先买后付’是怎么回事。

Someone your age, you definitely know what Buy Now Pay Later is.

对，但我爸妈就不懂。

Yes, but my parents wouldn't.

这正是Adrian的情况。你爸妈多大年纪了，Matt？

And that's what Adrian How old are your parents, Matt?

比阿德里安年轻。

Younger than Adrian.

比我年轻？

Younger than me?

年纪差不多。

Similar age.

我觉得你和我妈妈同龄。

I think you and my mom are the same age.

你哪年出生的？

When were you born?

1972年。

1972.

哎呀，她比你大一点。

Oh no, she's a bit older than you.

吓一跳，对啊。

Phew, yes.

对，咱们还有几个关于儿童储蓄的问题没讲完，趁热打铁把它搞定。

Right, so we got a few more children's savings questions to do, to finish off the list.

感谢所有发来问题的朋友们，真的特别谢谢。

Thanks to everybody who got in touch with all of your questions.

希望我们已经把大部分问题都解答清楚了。

Hopefully, we've managed to answer most of them.

你那边有什么问题要问我的吗？

What have you got for me?

我这儿有个来自吉格勒小姐的问题。

I've got one from Miss Gigler.

她说，为什么根本没有固定利率的儿童现金ISA？就算有也太少了。

Nice She says, why are there no, if any at all, fixed rate junior cash junior ISAs?

你能推荐一下目前市面上最好的固定利率儿童现金ISA吗？

Can you advise of current or best fixed cash junior ISAs?

她还问，儿童ISA算不算在遗产税的范围里？要不要交遗产税？

Also, she says, do junior ISAs sit outside or are they exempt from inheritance tax?

对，首先固定利率的少儿现金ISA真的特别少，我现在一下子想不出来市面上有任何公开能办的这类产品。

Yeah, I mean, there are very few, I can't think of any fixed rate cash ISAs off the top of my head that are available to the open market.

我只记得有一两款是只有小型建房互助协会的老客户才能办理的。

I think there's one or two that are sort of available to existing customers of small building societies.

原因其实很简单。

The reason's quite simple.

银行和建房互助协会推出固定利率产品，本质上就是要锁定你的资金。

Fixed rates are done so that a bank and building society can lock away your money.

其实银行推出定存储蓄产品就是这个道理

I mean, that's why they offer fixed rate savings.

他们得把你的资金锁死在账户里

They can lock away your money.

这样才能保证在约定期限内，这笔钱一直放在他们那儿

They've got a guarantee they've got your money in place for a set term.

但青少年储蓄ISA账户里的钱，本来就会一直锁到孩子满18岁，这笔钱本来就不会动。虽说我一直都建议大家把钱转到收益更高的账户里，但大部分人都不会这么操作，所以银行本来就有把握这笔钱会一直存在他们那儿

Well, in a Junior ISA, your money's locked away until the child is 18, so you've got that lock away, and yes, well, would always be suggesting you transfer it to a better payer, actually most people don't, so that they have some surety your money is gonna stay there.

还有个有意思的情况是，儿童ISA的固定利率期是三年，到期后自动转成活期账户，但你还是跟同一家机构打交道，钱根本取不出来。

Also, have that interesting point in a Junior ISA that you have a fix for three years and then the fix matures, and then it's moved into easy access, but you're still with the same people and you can't get the money out.

我之前说过，儿童ISA的利率比市场上最高的儿童储蓄账户低多了，这点你应该注意到了。

So it just, it's never been, you will have noticed when I was talking earlier that junior ISA rates are lower than the top children savings rates.

说实话，这根本就是个封闭市场的问题。

I think it's a captive market issue, to be honest.

就算是普通现金ISA，你至少还能随时把钱取出来。

Even with cash ISAs, you can take your money out.

儿童ISA可是政府强制锁死的，孩子满18岁之前，一分钱都拿不走。

Junior ISAs is a proper government lock away until your child or until the child is aged 18.

至于儿童ISA免税的部分，其实只针对储蓄收益——比如存款利息、股票分红，还有你在股票型ISA里投资产生的资本增值。

Second part of the question, the tax free element of Junior ISAs is all about the income on savings, that's interest on shares, that's dividend and the capital gains on any growth if you're buying within a shares ISA.

它跟遗产税完全没关系。

It is not a protection from inheritance tax.

如果孩子不幸离世，账户里的钱还是会算进他的遗产总额，不过大多数孩子根本没多少资产，所以这问题其实很少发生。

So if there is money in a Junior ISA and heaven forbid that child were to pass away, then it would count towards their inheritance tax allowance so that most children don't have that many assets.

说真的，我刚想到，除非你孩子已经继承了大笔财产，不然谁会问这个问题啊？

Actually, as I say that, and I was thinking, why would anyone be asking that question unless your child had already been left a lot and it was in, had a huge estate?

我猜你真正想问的是：你给孩子存进Junior ISA的钱，算不算遗产税的范畴？

I'm thinking what you probably mean is if you put money into a Junior ISA for a child, does that money you have given them count for inheritance tax?

说白了，没什么特别规定。

There are no special rules, is basically the answer.

你给孩子存进Junior ISA的钱，不会一转进去就自动免遗产税了。

So if you're giving a child money to go in a Junior ISA, it doesn't instantly go bing, It's not inheritance tax.

跟其他方式送钱一样，你得活七年以上，这笔钱才算彻底脱离你的遗产。

You have the same you must live seven years rule that you have from gifting money in any other way.

当然，遗产税里有很多赠与豁免额度，比如用日常收入送钱就是其中一种。

Although there are lots of different gift allowances and you can give money from income.

想了解这些，得去听我们的遗产税播客，我记不清具体哪期了——不过编辑一剪，马特马上就要说了。

For that, you need to listen to the inheritance tax podcast, which I can't remember when it is, the magic of editing, Matt is about to say it now.

就是上一期

It was

今年三月五号。

the March 5 this year.

他是这么说的，希望没错。

He said it, hopefully.

但愿如此。

I hope so.

我们做那期播客的时候说了，儿童ISA在遗产税上没什么特殊待遇。

When we did that podcast, listen to that, but the junior ISAs aren't special inheritance tax.

你给孩子存进儿童ISA的钱，跟其他赠予没什么区别。

If you're giving money for someone to put in a junior ISA, it's just the same as other money.

接下来还有什么？

What have you got next?

有个来自凡妮莎的问题。

One from Vanessa.

她说，她儿子从出生起就开了一个儿童股票和投资ISA。

She says, my son has had a Junior shares and investment ISA since he was born.

我们每个月都会往里存钱。

We pay into it monthly.

我银行每六个月才出一次对账单，网上根本查不到这笔投资的详情。

My bank only issue statements every six months, and there's no way to see this investment online.

我不确定这种账户是不是都这样。

Unsure if this is a common feature for this type of account.

我考虑过换成Junior现金ISA，但那流程太复杂了，表格也一堆，一直没空去办。

I have considered changing it to a junior cash ISA, but the process was so complicated with very complicated forms that I've not had a chance to do it.

所以我想问，第一，这主意靠谱吗？

So my questions are, a, is this a good move?

第二，如果靠谱，有没有简单点的办法把钱转过去？

And b, if so, is there an easy way to transfer this money?

说到底，你要从股票ISA转到现金ISA，就得把所有股票和基金全卖了。

Well, ultimately, if you're transferring from a shares, ISA to a cash ISA, you're selling all the shares and funds that you have.

这可是个挺重大的决定。

So that's quite a big decision.

你现在是在做决定，就是这一刻，你想把所有投资都变现，变成现金。

You're choosing, this is the moment I want to liquidate all of that investment and turn it into cash.

就像我前面说的，我不清楚你孩子多大，但如果你还有一段很长的时间，我觉得不如把这当成投资，而不是单纯存钱。

And as you've heard earlier, I don't know the age of your children, but if you have quite a long time to go, you hear, I'm pretty favorable for looking at it as an investment rather than savings.

我觉得你很可能用的是股票和投资型ISA。

I just think you probably have a pants shares and investments ISA.

我的意思是，我提到的那些平台，你每天都能看到投资金额的变化。

I mean, all the ones I mentioned, you can see every day the amount in your investment.

你那些理财App，甚至能让你实时看到投资价值每秒都在变动。

You mean, some of the apps that you have for these things, can actually see the changing the value of your investment by the second as you're watching it.

所以我觉得，如果你手里的基金是那种开放式市场基金的话，可以考虑一下。

So I think what you could do, especially if you've got them in sort of open market type funds.

我说的开放式平台，就是那种你可以自由买卖不同股票和基金的平台。

So what I mean by that is you've got a platform, an investment platform, which you can buy different shares and funds in.

比如说你选了贝莱德、施罗德或者类似公司的某个基金，那你在别的平台也能买到完全一样的基金。

And let's say you've got a fund from whether it's BlackRock or whether it's Schroders or somebody like that, that's a generic fund that you've chosen to put in the platform, so you'd be able to buy the same fund in a different platform, exactly the same fund.

所以如果你打算这么做，完全可以转到另一个平台，不过得留意一下平台费用。我猜你现在的平台收费可能不低，毕竟他们很少给你发对账单，服务听起来也不太到位，你或许该考虑换个更靠谱的股票ISA平台。

So if you were doing that, you would be able to transfer to another platform, check the platform charges, though I suspect the way that yours is operating isn't that cheap because it tends to be if they're not giving you statements that often, the service doesn't sound that good, and you might want to have a look at moving it to another shares ISA platform.

如果你想把钱转成现金，也是完全可以的。

If you want to move it to cash, you can do so.

其实就是填个转账申请表的事儿。

It's all about filling in the transfer form.

有时候——虽然儿童ISA比普通股票ISA少一些——有些公司为了让你把资金转到他们的股票ISA或儿童JISA平台，还会给你现金奖励。

Occasionally, although less with Junior ISAs than with General Shares ISAs, but there may be, a firm might often offer you a cash incentive to transfer to their shares ISA or shares JICA platform.

你最后一个问题是？，马特。

And your final question, Matt?

最后一个问题是

Final question is

我知道你有三个问题，我可一直记着呢。

because I knew you had three, see, and I've been counting.

对。

Yes.

我一边说一边数，真是厉害。

Counting as I speak, I mean, it's amazing.

很惊人啊，克莱尔说，对于那些只剩下三到五年投资时间的年长孩子，Junior ISA该怎么操作。

It's impressive, your It's mind, from Claire, she says Junior ISAISA advice for older children who only have maybe three to five years to invest.

这个前提挺有意思的。

So, well, it's an interesting premise.

但问题里没说清楚，这‘只剩三到五年投资’，是指孩子离18岁只剩三到五年，还是说他们三到五年后就得用这笔钱。

So what I don't know in the question is whether the only three to five years to invest means they've only got three to five years until the end of their Junior ISA, or that they will need to actually use the money in the Junior ISA in three to five years.

这两者差别可大了，答案完全不一样。

And which one of those it is does change the answer quite significantly.

那我两种情况都给你分析一下。

So let me try and answer both.

如果孩子离18岁就剩三到五年了，那Junior ISA到期时，只要你没把钱取出来——而你本来是有权取的——这笔钱就会自动转成对应的成人版账户。

If they've only got three to five years left before they get hit 18, so their Junior ISA is no longer a Junior ISA, what happens at the point you hit 18 with the Junior ISA, if you don't take the money out, which you're entitled to, is the money will transfer into the same equivalent adult version.

如果是Junior现金ISA，就会变成普通现金ISA。

So if it's a Junior Cash ISA, it will become a Cash ISA.

如果是少儿股票ISA，就会自动转成普通的股票ISA，投资标的不变。

If it's a Junior Shares ISA, it will become a Shares ISA in the same investment.

到了那时候，你得好好看看，这个现金ISA是不是最适合我的？

Now, that point, you would want to check, is this the best cash ISA for me?

这个股票平台和投资产品，是不是目前最好的选择？

Is this the best shares platform and shares investment for me?

因为这笔钱是自动转过去的，你得小心，他们通常一到到期日，就随便把钱塞进一个收益很差的现金账户里。

Because it's sort of automatically being ported and you want to probably be moved into not a good cash ISA rate because they tend to always, when they move, when something matures, put them in not such a good cash ISA rate.

所以到那时候，你得亲自去核对清楚。

So you'd have to do the checks at that point.

但如果你的意思是，孩子马上就满18岁了，那如果是投资型ISA，只要他们还想继续存着，完全可以接着投原来那些基金或资产，成人股票ISA能投的，他们也能投，几乎一模一样。

But if you're just saying because they're gonna hit 18 at that point, well, certainly if it's an investment ISA, you could, they want to keep the money put away, they could continue to invest it in probably almost exactly the same fund or the same investments that they had in an adult shares ISA as they can in a junior ISA.

所以这根本不是终点。

So that isn't an end.

不过，如果你说的是另一种情况——也就是他们三到五年内就得用这笔钱了。

If however, you're saying to me the other one, which is it's only three to five years until they're going to need to access the money.

这要看情况，一般来说，投资适合那些打算把钱放五年以上的人，不过也有人觉得三年以上就行。

Well, depending, I would normally say investing is for people putting money away more than five years, but some do say putting it away more than three years.

如果你已经有投资的打算，而且他们不打算马上取钱，那其实还是我前面说的那些事儿。

And certainly, if you've got an idea to invest and they might not want to take the money out, I mean, it's it's all the same stuff I talked about earlier.

你还是得分散投资，别把所有鸡蛋放在一个篮子里。

You're still gonna want a broad spread of investment.

要是投资期超过三年，那就更得分散了，毕竟你正好卡在市场上下波动的边缘地带。

You're absolutely want it if if it's over three years, you want it to be as broad as possible because you're slightly at the edge of playing the vagaries of markets going up and down.

所以我觉得选择上差别不大，但风险确实会增加——我们之所以建议投五年以上，就是为了平滑掉短期的市场波动。

So I think the choices don't differ that much, but the risk does increase because the reason we say you wanna be doing it over five years is you want to smooth out any short term market moves.

你现在就能看到这种情况。

I mean, you can see that at the mark at the moment.

中东冲突一爆发，股价就跌了，不过现在大部分又回上来了，具体看你怎么算指数。

Now once the Middle East conflict started, share prices dropped, they've mostly come back depending which index you're looking at at the moment.

但这类情况，你最不该做的，就跟之前说的转成现金ISA一个道理：别在低点把亏损变成现实。

But those type of things, what you don't wanna be doing, and this goes back to the previous question about transferring to a cash ISA, is crystallizing at the wrong moment.

说白了，买股票卖股票，真正重要的就两个价格：你买入基金的时候是什么价，卖出的时候又是什么价。

I mean, the truth is when you're buying and selling shares, the only price that matters is what price you buy funds, what price you buy the fund at, and what price do you sell the fund at.

所以你千万别碰那些你随时可能要用的钱——万一被迫在低点抛售，那就糟了，比如股市大跌的时候，或者国际上出了什么坏消息，全市场都跟着跳水。

And so what you don't wanna be doing, and this is why it's always money you don't need to access, you don't wanna be forced into accessing that money and crystallizing at a point that you wouldn't normally choose to, maybe when the shares are low or maybe when the economy, there's just been some bad international news that's dropped everything.

这就是为什么我们总说投资得看长期。

That's why we talk one of the reasons we talk about longer periods.

我想这差不多该收尾了吧？

I think that's probably an end, isn't it?

咱们今天聊这个话题已经够多了。

We've done lots on this.

希望这个小话题没把你们绕晕。

Hopefully, this is a very big ickle subject.

这周就先聊到这儿。

And that's it for this week.

我们每周四和周一都会更新新一期。

We intend to put out a new episode every Thursday and Monday.

每周一的《问答时间》播客，你随时可以问我任何问题——当然，得在合理范围内。

Monday is the Question Time podcast where you can ask me absolutely anything and everything open brackets within reason close brackets.

如果你今天听得很开心，别忘了告诉朋友你在听《马丁·刘易斯播客》，顺手给个评价和订阅吧。

If you've enjoyed it today, please do tell your friends you've been listening to the MartinLewisPodcast and why not leave us a review and subscribe.

这样你的钱包也会感谢你。

Then your pockets will be pleased with you.

如果你觉得没意思，但还听到这儿了，那纯属你自找的。

And if you haven't enjoyed it and you've been listening this long, you've wasted your own time.

不是我浪费时间。

Not my time.

我本来就要录的。

I was doing it anyway.

你随时都能关掉的。

You had the torch to turn it off.

但你没关。

You didn't.

这不关我的事。

Not my problem.

再见。

See you.

马丁·刘易斯是MoneySavingExpert.com的创始人。

Martin Lewis is the founder of moneysavingexpert.com.

当然，市面上还有很多其他消费和比价网站可以选择。

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

你可以通过邮件 martinlewispodcast@bbc.co.uk 联系马丁的播客制作团队。

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

播客里提到的优惠和利率，都是录制时的最新信息。

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

但如果你是后来点播听的，最好再核实一下，毕竟信息会过时。

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

无论你用什么平台听，记得在BBC Sounds上订阅并给我们留个评价。

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