Off Air... with Jane and Fi - OFF AIR...EXTRA (with Coventry Building Society)

Episode Date: October 16, 2026

In this special bonus episode brought to you by Coventry Building Society, we want to get you thinking about saving. And not just or rainy days - but for sunny ones too!Fi speaks with financial journalist Sue Hayward and Kat Robinson, Head of Family and Everyday Banking at Coventry Building Society.Search ‘Coventry Building Society sunny days’ to see how your feelgood fund could take flight. T&Cs and eligibility criteria apply.If you want to contact the show, ask a question or get involved in the conversation, please email us: [e-mail] us on Instagram! @janeandfiPodcast Producer: Eve SalusburyExecutive Producer: Rosie Cutler Hosted on Acast. See acast.com/privacy for more information.

This episode of Offair is brought to you by Coventry Building Society. Joining me today at Kat Robinson, head of family and everyday banking at Coventry Building Society and journalist Sue Haywood and together we're going to be discussing how saving can be about much more than building an emergency fund. From future goals and family priorities to everyday habits and the power of planning ahead will explore how small financial decisions today can help create more of the opportunities and experiences we'd like tomorrow. So what is your sunny day?

Let's find out. Sue, I'd like to start with you, please. Have you always wanted to be a financial journalist? It's quite a specific thing that I've never heard maybe a seven, eight, nine-year-old say, oh yeah, that's what I'm going to do. Do you know what? I have always had a passionate for money saving. And as a kid, my sister used to laugh because I was the one who was putting my money in the

money box when she was going to spend hers. And as I grew up, there was this wonderful shop in Watford where I grew up called the reject shop, which was sort of seconds, end of line, discontinued stock. And I think that's really where my money-saving habits were kind of honed on a Saturday afternoon and probably where most of my teenage Saturday money went and pocket money and things. So I think it was more practical. I certainly didn't wake up one morning and think, I want to be a financial journalist. I think my earlier ambition actually was to present Blue Peter, to be honest,

which sadly I never got the chance to do, but I got to chat about money instead. Well, I think you come out of it. Well, not every Blue Peter presenter's career has ended superbly, so let's just leave it at that. Kat, what about you? Were you always interested by money? I think so. I'm naturally quite a nosy person. So being in product marketing, understanding what motivated people about money. And money is one of those really funny topics where it's really important, but it's a category of people really don't engage in.

and I find that sort of challenge really interesting and I have done for 20 years, how you get people to get, how easy if you work for Apple. But, you know, I've always worked in a category that people aren't interested in, but it's really important, and I find that fascinating.

What is the most go-to question that people ask you when you tell them what you do? People don't understand. My mother still thinks I work in a branch. I mean, it's quite theoretical and quite hard to explain, isn't it, what you actually do? Yeah, so no, I think I can bring it to life. I've got 11-year-old twins.

I can bring it to life for the twins now in terms of talking about, they've now got their current account, so I can explain, mummy manages that product, but it's quite hard to actually explain what that means, isn't it, kind of behind the scenes? It's all a bit sort of theoretical. Yeah.

Let's talk about having children and talking about money with them. So I think as parents, it's a natural go-to position, isn't it, to encourage saving? But then would I be right in thinking that actually those brilliant lessons of the early, years, they just fall away for too many people. I think sometimes that can be the case. I mean, I can remember with my daughter when she was younger, we would go into the supermarket

and I would try and, I guess, give her early financial lessons where I would like her choose her favourite breakfast cereal. And then when she chose the one probably with the free gift or the glamorous picture on the front of the brightly colour packet, I would then say, okay, this costs X amount. Actually, we could buy two of these, ones on the bottom shelf, own brand, or we could buy one of these and something else to try and show her how much, you know, the difference in money. But I think you're absolutely right because I think although financial education is taught in schools, it's often, it's not always the practical, you know, how much tax you paying.

What's this on my first pay slip? So things like that, unless you have parents, family or people that have a really good relationship with money and teach you about money, managing money, saving, all those kind of things as you grow up, sometimes you can get to the stage where your first pay packet you think, wow, this is fantastic. And you suddenly realise that, gosh, I have got to pay some tax and national insurance and what's this all about? And we do this funny thing, don't we, where we say you're either a spender or a saver. I mean, you can be both. Absolutely. I mean, I would, I think I would say that. I'm probably slightly more of a saver and I can sometimes get a bit mean where I think,

should I buy that or shall I save something. But I think it's really important. I think a saving is about a financial mindset as well. It's not just about the practical, putting money away for your new car, your holiday, rainy day. I think it's getting in that financial mindset and a factual habit. And once you develop that habit, hopefully it will last a lifetime because it's just so important to do that. I mean, so few, or so many of us rather, don't have much in savings. I think the statistics, something like two in four, have less than 200 pounds in savings, depending on whose research you look at. So, you know, it's a huge amount of people that actually don't have very much at all. And you've used another key phrase there, which is

the saving for a rainy day. But Kat, I love what you've done here because you approach saving from a different point of view. Why not save for the sunny days? No, absolutely. I think saving for rainy day is really important, so almost all financial resilience if things go wrong. But then equally thinking about what all the fabulous things you want to do in the future, what the things you want to be able to say yes to, time you want to spend with friends and family or things you want to do at home and almost then visualising that and starting small and setting yourself a goal

and then consistently kind of working towards that I think it's a really sort of really positive, quite empowering actually makes you feel really good and kind of confident and in control. And you're so right that actually if you're saving for something joyful or for the opportunity or for choice it's actually easier than the saving for necessity

doom, Armageddon. You know, it's in a different place, isn't it? I love the fact that nowadays we can name our savings jars, can't we? Which you didn't used to be able to do back in the day before digital banking. No, agree. And I think that's fab.

I think anything you can do to bring it to life and visualize it just makes it more meaningful. Otherwise, it's a kind of a theoretical thing you're doing over here, isn't it? If I can call it, I'm saving that moment for one of those fancy hot water taps. So being able to, you know, I know that, every coffee I don't buy in London is contributing towards my fancy hot water tap at home and it just brings it to life, doesn't it?

Right, you're a very brave lady. I can't go near those. I'm just terrified of them. You've got an amazing statistic. 15% of people say they'd rather deep clean the oven than have a detailed conversation about money. We're daft, aren't we? Absolutely. I think, well, definitely in the UK, it's kind of the last great taboo, isn't it? I think another stat we have is 30% of people would rather talk about sex, politics, their health, than talk about money, which is just a real shame. I think there are, and you don't have to go straight to, you know, what's your net worth and what if you've got in your will. You can start really small with, you know, where do you want to go on holiday?

Or if you suddenly came across £500, what would you do with it? And just opening up those conversations about money. I think we can share and learn from each other if we talk more about money. Otherwise, I think to the previous point, you can suddenly find yourself in the early 30s. Like, crikey, I'm not saving anything and I, what's a pension? But if you can start talking about it earlier, you can share experiences and kind of learn from friends and family. Particularly, I think now we're all living longer, you know, there are more sort of different shaped families and not having conversations about money with family and friends.

I think sets us all up to fail, doesn't it, in the future, in terms of the difficult conversations you might have to have at a really awkward time. like why not practice and have them earlier? Yeah. Do you feel that that's changing at all, Sue, that actually there's a different way of talking about money amongst young people than perhaps there was in our generation? I think there is because I think the whole taboo on saving money and maybe using voucher codes,

and instead of feeling embarrassed that you've looked for a deal, people are now proud to admit, hey, I've got a great deal with this. And in fact, there's so many of those refer-a-friend incentives, which obviously the companies are cashing in on cheap marketing if you like because they can pay you 50 quid if you've got your friend on board for their product. But I think so many more people are thinking before they buy something. Actually, let's shop around. Let's look for a voucher code. Let's download an app. The fact you can get a freebie maybe, you know, with your coffee, if you're going to a new coffee bar, download their app. You might get money off. So I think definitely

it's become much more of a way of life, if you like. And just going back to Kat's point, I think it was really interesting about, you know, within families and the dynamics, because I think one of the things I see is a lot of people say within couples, sometimes there's that fear of the secret debts, or they don't talk about money, or maybe when they get together because one of them's earning more than the other. They never really discuss money. And then further down the line, you can sometimes get to a situation where if somebody is struggling or they've lost their job and the other person is paying the bills,

and it can all erupt and go horribly wrong. So I think it's really important however you manage your money in any relationship, but just to have those conversations, whether it's going to be joint savings or whether it's how you split your bills as well. Yeah. Kat, do you have anything to add to that? What's a good way of starting a conversation about money if you are in a household where you really don't talk about it?

I think you can start small and literally at the dinner table, I've said before, maybe just think about, okay, if you have 500 pounds tomorrow, what would you do with it? You know, are you a cash person or a card person? You know, how do you feel about debt? You know, almost find your way into it and kind of build from there. And be clear on the things that matter to you. So I'm all about, you know, experiences and people. They're the things I want to spend money on.

My husband spends his money on different things, but almost having those conversations about the kinds of things that you value and you want to spend your money on and almost establishing those shared goals together, I think, is a great place to start. I wish that the one thing that I've been talking about, taught at school was the value of compound interest. I mean, once you understand compound interest, I mean, it is sexy talk time, isn't it? Yeah, it is. And I think this is a thing, there's so much,

it's not quite jargon compound interest, but words like this that get banded around. And people don't understand them. And then there's the fear of actually asking about how it works. And I know that, obviously, you can go on all sorts of websites and find out about things like this. you know, because I think that's a great thing about saving that also you get interest on your money. It's not just, we're not suggesting people just shove some money in a bank of women society. You get the interest back. So you make more as you go along, which is really important as well. And especially if you're someone who wants to save rather than invest, because of course with savings, your money is always going to be safe. You know, you're protected under the financial services compensation scheme.

So, you know, your money is safe there and you make some interest as well. So I always think that's a really good grounding. So what do people who are listening to this do, Kat, if they think, okay, all of that sounds like me, or there's a little bit that's made their ears prick up. They come to the Coventry Building Society. Where do they start? What's the go-to destination for the person who thinks, right, savings for me now? I think I'd say, regardless of product, three things.

The first thing is kind of picture it. So what are you saving for? start small. Saving isn't just for people who have waters of cash at home. Saving is for anyone. So start small and be consistent, I think. And it's surprising where you can get to if you start that habit. And then to the previous point, you're kind of then embedding that habit and build over time. So picture it. Start small and be consistent. Definitely. Okay. There will definitely be people listening to this. You've had a really bad time with money. The cost of living crisis has made people's everyday lives so, so difficult for a long time. So if you are listening and thinking, that's just for somebody else, you know, I don't have any spare cash.

What would you advise, Kat? So I think definitely, I mean, at times of acute financial stress, you don't want to be worrying about savings. You don't want to add to people's worries. But I think for most people, most of the time, saving is achievable. It's just about starting small and having a small goal in mind and being consistent and just being realistic about your life and how much you can save. But equally, I think it can be quite empowering how quickly that money can add up if you kind of stick with a habit. I'm sure that you've had many queries, Sue, over the last decade or so about how to cope with real financial hardship.

What's your advice? I think, as Kat said, it's starting small. I mean, there's lots of places. Banks, building societies have apps and devices where you can do things like save the change or save the pennies. And it's a really easy, quick way to start Kickstarter savings habits. let's say, for example, use your debit card to pay for a coffee, say £4.20, then you'll be charged £5, that your bank will whisk the extra €80p into your savings. So you kind of don't miss it in that sense, and it all starts to add up.

And of course, then you're getting interest as well. So I would say that's a good way. And also regular savings account. Think of yourself as a bill payment. So the day after you get paid, set up a standing order that goes direct to your savings for however much you think you can afford. And I would always say, don't be over realistic. Because if you think, well, stick a few hundred quid away,

come the end of the month, you might be pulling it back, you might risk going into the red. So put a small amount away. And on a regular save account, you know, you can get sometimes 7, 8%, so it's worth doing. And you can usually save up to around £250 a month doing that. So I think that's a good way for people to kickstart a savings habit. And maybe promise yourself that if you get a bonus

or if there's any extra money, maybe, dare I say, get a tax rebate or something, if you're lucky enough to get one of those, that you put the money into the savings just to top it up and keep an eye on what you've got. So each year, give yourself like a mini financial health check. So you don't just think, right, this is what I've got in savings. Check, you're getting the best deal. Because sometimes if you're on a fixed deal, that may have ended and the rates may have plummeted. So it's worth keep shopping around.

And presumably your customers can ask, CBS to help them to do that, to give them a little bit of a financial makeover? Yeah, no, absolutely. So I think most banks and building societies would support customers either digital tools or kind of in branches on call centres, but there's equally lots of other organisations who can help you do that. And I think just having that regular view, whether it's quarterly or annually, just on what you're paying, is really powerful because things, particularly things you're paying for by direct demand and standing order go up, they rarely go down. And often you can save yourself quite a lot of money by switching around.

I feel particularly sorry for our younger generation at the moment. You know, they are being bombarded with these doom-laden messages about the future of the planet and the future of their working lives. And many of them leave university with a massive amount of debt too. For that person who's listening or a parent of that person, they may well think, what is the point in even putting a fiver away? You know, it's so dark out there. I'm not part of this kind of financial journey at all.

I think there's, I absolutely sort of hear and understand that. I think there's something about feeling confident and in control, which is probably just engaging with them being a bit more deliberate about what you're spending and what you're saving. And that can start right now. So, you know, if I'm in my first year at uni, can I be a bit more thoughtful about what I'm spending money on versus not? but then also looking forward when you finish uni and you're working and you're starting to pay off this debt.

I think it's just about taking more sort of ownership and responsibility and being more deliberate about spending. We're not saying, we're not saying don't spend any money. I think it's just being conscious and deliberate about the choices you make. Yeah. And know that you might end up being one of those smiling grey-haired people on the balcony of a cruise ship that we see in the advertisements. But you have to kind of rewind that dream, don't you? that's what we're talking about, put some money away now, if that is the thing that you hope to be able to achieve later.

And you've revealed your love of the hot water tap, does it have the sparkling water? That's the one I want, but then more expensive. Okay, well, I mean, I presume you're good at saving, so I'm sure you'll get there. And so what would be your sunny day fund? What's it about? Holidays. Definitely holidays.

And I'm the kind of person who will actually spend hours researching, once I've got the money, researching the best deals, whether it's flights, whether it's Airbnb, places to go. And I love finding the whole sort of travel swaps where you can go to different places, see the sites for less. So, for example, in New York, found out the Statue of Liberty. It's amazing to go up. Absolutely fantastic.

But obviously, you can get the free Staten Island ferry, go past it, take your snaps and everything else. So I love doing all the research for things like that. But definitely my money, it's holidays and travel for me. Okay. Thank you very much indeed for talking to us today. I feel quite optimistic and empowered by that conversation actually. So many thanks.

Before we finish, I'd encourage everybody listening to think about their future self. What would they thank you for? We often think of saving as sacrifice, discipline and cutting back. But perhaps it's really about something way more positive. It's about confidence. It's about choice. It's about having things to look forward to. Successful savers aren't necessarily those who earn the most.

they're often the people who make saving a habit and keep taking small steps towards the life they want to live. So what is your sunny day? And what could you do today that your future self might thank you for tomorrow? Congratulations, you've staggered somehow to the end of another off-air with Jane and Fee. Thank you. If you'd like to hear us do this live, and we do it live, every day, Monday to Thursday, two till four on Times Radio.

The jeopardy is off the scale. And if you listen to this, you'll understand exactly why that's the case. So you can get the radio online, on DAB, or on the free Times Radio app. Offair is produced by Eve Salisbury, and the executive producer is Rosie Cutler.