Review of The Martin Lewis Money show
I watched last night’s show, the first in the new series, and thought I would share what I learnt:
- Switch your energy tariffs now – for a typical usage rate of £1,060 , you could switch to a fixed deal of £820. If you want longer term security, Martin mentioned the standard two year fix from isupply at £870. You can also pick a tariff no matter how much you use – Green Star unlimited usage comes in at £1050, perfect for people who are too scared to put their heating on, as they know the price is fixed no matter how long they use it.
- It’s easy to switch – five punters easily switched on the show. Paul who’d been with British Gas with 37 years, because it’s a trusted big name could save over £200 by switching. A lady Deborah says she has become lazy so hasn’t changed. She found out that she can reduce her bill by £800!
- The sin of not comparing is worse than getting it wrong, so it’s better to find a cheaper deal even if it’s not the absolute cheapest deal.
- Smaller energy suppliers are often cheapest and the consumer is protected if they go bust.
- Switch by using a comparison site, but when doing your search, don’t choose “do you only want tariffs that we can switch you to today”, as this limits you.
- Dual fuel isn’t always cheapest.
- Buy generic brands of medicine – don’t pay extra for pricey branding. Look for product numbers to be sure if they are the same.
- Savings for kids – Halifax regular savings offer 4% and other good accounts are Santander 123 and Nationwide.
- If you don’t have time to compare, call your existing provider and ask what is your cheapest energy tariff and ask to switch.
- You can move your feed in tariffs to a new supplier easily.
- Great Black Friday deals: Apple, Amazon, Tesco Direct and John Lewis; predictions M&S up to 50% off, Gap 50% off, Urban Outfitters up to 50% off and Body Shop up to 40% off.
- Get your kids to write to the Royal Mail by 9 Dec and get a free letter back.
- You can switch from a pre-payment meter too to lower energy bills. A lady saved £300 a year by doing this.
- Lifetime ISAs come out in April, for under 40s.