MTTM Podcast Episode 471 – Investing in physical gold, last-minute holiday T&Cs and Teacher discounts

Listen to Episode 471

In this week's episode, I discuss the pros and cons of investing in physical gold, including fractional gold coins and the storage options with the Royal Mint. I also explain what you need to look out for in the T&Cs when booking a last-minute holiday. Finally, Andy explains how teachers can now take advantage of the discounts and rewards that are on offer via the Blue Light card.

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Podcast episode summary

1. Investing in Physical Gold

In this segment, Damien discusses the nuances of investing in physical gold, particularly focusing on gold coins and gold bars. The conversation starts by highlighting the increasing interest in gold as a safe-haven asset, driven by global uncertainties and market volatility. Damien explains that while many investors are familiar with gold ETFs and funds, fewer people are aware of the opportunities to invest directly in physical gold through the Royal Mint.

One key point is the distinction between full ounce gold coins and fractional gold coins. Fractional coins allow investors to buy gold in smaller denominations, making gold investment more accessible. However, Damien points out that these fractional coins often come with a higher premium due to production costs.

He also emphasises the tax advantages of investing in physical gold coins, which are exempt from capital gains tax. With the recent reduction in capital gains tax allowances, this becomes an attractive option for investors looking to protect their wealth.

Lastly, Damien discusses the practical considerations of owning physical gold, such as storage and insurance costs. Investors can store their gold at home, in which case they need to ensure its security, or they can store it with the Royal Mint for an annual fee. The segment concludes with a brief mention of the Royal Mint's DigiGold product, which allows investors to buy gold based on monetary value rather than weight (minimum investment of £25), making gold investment more flexible.

2. Booking Last-Minute Holidays: Tips and Considerations

The second section of the podcast focuses on the important considerations when booking last-minute holidays. Damien and Andy share practical advice drawn from personal experiences, emphasising the need to carefully review the terms and conditions (T&Cs) to avoid unexpected costs or inconveniences.

Key points include checking payment methods, understanding what is included in the holiday package and being wary of deals that seem too good to be true. Damien warns listeners to pay attention to local taxes, which can add significant costs to the holiday, especially in European destinations.

The discussion also covers the importance of reviewing insurance policies bundled with holiday packages, as these may not offer the best coverage or value. Travellers are advised to shop around for better insurance deals, particularly if they have pre-existing medical conditions.

Another practical tip is to verify the flexibility of the booking, including the ability to make changes to passenger names or travel dates, as last-minute deals may come with restrictions. The segment wraps up with advice on preparing for the trip, such as making a list of emergency contacts and understanding liability disclaimers in case something goes wrong.

3. Blue Light Card: Now Available for Teachers

The final section of the podcast introduces the Blue Light Card, a discount and rewards scheme that has been expanded to include teachers. Previously available to key workers like NHS staff, emergency services and armed forces personnel, the scheme now allows teachers and other educational staff in state schools to benefit from various discounts.

Andy provides examples of the types of discounts available, such as 25% off at certain restaurants, up to £60 off holidays with Jet2 Holidays and discounts on fashion and fitness products. He highlights that while state school teachers are eligible, the eligibility of private school teachers is unclear.

The segment also covers the application process for the Blue Light Card, which costs £4.99 and lasts for two years. Given the range of discounts available, Andy notes that the card can quickly pay for itself.

Episode 471 Quiz

1. What is the minimum investment amount for the Royal Mint's DigiGold?
   • a) £10
   • b) £25
   • c) £50
   • d) £100
2. Which of the following is exempt from capital gains tax?
   • a) Gold ETFs
   • b) Gold coins
   • c) Gold bars
   • d) Gold futures
3. What is one of the drawbacks of fractional gold coins?
   • a) Higher premium
   • b) Lower purity
   • c) Difficult to resell
   • d) Not tax-exempt
4. How long does a Blue Light Card membership last?
   • a) 1 year
   • b) 2 years
   • c) 3 years
   • d) 5 years
5. Which key workers have been newly included in the Blue Light Card scheme?
   • a) Doctors
   • b) Teachers
   • c) Police officers
   • d) Firefighters

Answers:

1. b) £25
2. b) Gold coins
3. a) Higher premium
4. b) 2 years
5. b) Teachers

• MTTM Deals Page
• Take out a free trial of 80 20 Investor
• Sign up to the Money to the Masses Newsletter
• Gold from The Royal Mint
• DigiGold from The Royal Mint
• Does travel insurance cover wildfires?
• Car hire excess insurance
• Blue Light Card extended to Teachers