Martin Lewis shares the best ways to save money

"If I'm really honest, my great fear comes next spring."
Spring 2023 will bring 'the pinnacle of interest rates, the end of the energy price guarantee and another rise in energy bills, says Martin Lewis, CEO of Money Saving Expert.
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[@LittlePinkPiggy1]

Every week I look at the food I have in my cupboards, fridge and freezer and base my grocery shopping on that. I write out a meal plan for the week ahead which incorporates what I have in stock. Every penny I have is budgeted and has a job to do. Only buy the things you actually must have. Take packed lunches to work etc. Cut all non essential spending.

[@pistopit7142]

I mean good for you but you speak about this like it’s some sort of discovery and achievement. It’s normal to do these budgeting things, otherwise you throw the money down the drain. And so many people I know does.

[@LittlePinkPiggy1]

The thing is that when I tell people that I meal plan etc and how I do it, it does seem to be a revelation to them. So many people don't know how to budget. So many people were never taught by their parents etc. You can't assume that everyone knows what you know.

[@pistopit7142]

@@LittlePinkPiggy1 well said. To me it just came naturaly. Wasting money is the last thing I would want to do. While I cannot expect from others to behave like myself, I am surprised that so many people don't see the problem with wasting their own money. Take my coworkers, all of them go to the shop during lunchtime to pick up food and drink. I bring my own. It is better and cheaper.

[@kateosmond1090]

@@LittlePinkPiggy1 I budget my finances but I struggle to plan my meals. How best can I do? I find myself eating the same kind of dish at all times. Help me please. Thank you.

[@donnalongden8686]

I do the same. Shame they don't teach this in schools really instead of some of the other subjects. The UK seems to be losing its skill sets unfortunately.

[@beastman.330]

Martin Lewis needs his own KZbin channel .

[@ep1929]

He has ⬇️⬇️⬇️⬇️ youtube.com/@moneysavingexpert

[@Alendi11]

he has one - moneysavingexpert

[@JoButterwick]

Stop buying non-essentials as soon as possible. Things like tabloid newspapers for example. We don’t need them and are happier without them.

[@votronimatic]

Stop watching the tv too

[@heather333]

I gave up TV and WiFi. Saved me £70/month plus energy cost.

[@spokes1018]

Cancelled TV licence 2 years ago. Mental health improved and saved loads.

[@sandrastewart2450]

I agree I have never bought news papers and never will they are a rip of and never tell the truth

[@righthandstep5]

Ride trains and busses. Cars are a scam.

[@Americanpatriot723]

Making money should be a routine A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k

[@84gaynor]

As with an my big financial decision, it’s important to keep your guard’s up for economic risks. However, smart planning, time management and seeking advise from a financial adviser can help keep you and your money safe.

[@Ammo-Hoarder]

Yes i agree and right now the markets are going berserk right now. This is the best time to watch them, get to know them better, and strike when the opportunity presents itself. I learned that from my investmęnt advisōr, "LISA ELLEN SHAW" she's seen dozens of market cycles over the past few decades, and she has a feel for how they move, why they move, and what comes next.

[@MatthewVinson]

@@Ammo-Hoarder Financial security through diligent saving and investing should be on top of everyone's priority ASAP. I really need some guidance can this Financial advisor guide me in this unstable times and why do you trust them much?

[@Ammo-Hoarder]

@@MatthewVinson She’s a verified CFP and she helped me see that returns can be made in both bull and bear markets. She covers things like investing, insurance, making sure retirement is well funded and looking at ways to have a volatility buffer for investment risk, lots of things like that.

[@MatthewVinson]

@@Ammo-Hoarder I searched for Lisa by her full name and she seems quite trustworthy and knowledgeable. She is a fiduciary acting in the interest of the individual. So I left a message on her site, I hope she will answer soon.

[@milly1441]

Help to Save is 4 years. I have one thanks to Martin. Get one before September 2023 because the government is closing them . They also raised the minimum earnings to open an account fo £648 per month. The bonus after 4 years is £1200 if you pay in the maximum of £50 per month.

[@richardkilley6838]

Learn the difference between wants and needs. Cancel all money draining subscriptions ie TV licence and sky. Eat to live not for entertainment. Do a menu every week and go shopping with a list and stick to it. Get rid of bad debt.

[@ejr3331]

Middle workers will start feeling it??? They already are and no help is available at all!

[@LisaWilliams-dn9zz]

Thank you so much for this helpful information

[@TheMensRea]

The social tariff mentioned I've never ever heard of! So pleased to find something that may help reduce costs on an extremely stretched budget. Thank you Martin 😊

[@laupeter4594]

Social tariff is the predecessor of social credit system

[@eleanor4759]

​@@laupeter4594what's the social credit system?

[@birdsaloud7590]

Cancel tv licence and Amazon Prime.

[@ep1929]

Cancelled my TV licence back in 2019

[@Longtack55]

Skip the $8 Twitter sub.

[@moneyAndSavings]

A great interview with Martin Lewis where he shared some valuable tips about managing money. It was very insightful and informative.

[@ladylocust1118]

I watch a myriad of financial videos/sites - this interview was one of the better I've seen. A day off work to save $1K, personal responsibility, and low income learners are all great talking points. My 2 cents.

[@amandahunter4034]

Thank you Martin. You're the only person in the media who is trying to assist people. The thing is though, who wants to live our lives constantly counting every penny and cutting back on our food, heating and other expenditure and saving every little bit of money we can and live a miserable life? We live in a so-called developed country. It's a wealthy country, just that most of the wealth is concentrated in only a few hands. No-one should be working hard all the time just to get by in life. Spending creates a healthy economy, and if the majority of people don't have disposable income to spend that will cause a downward spiral with many businesses closing etc. It's fine to have some savings as a cushion for emergencies and unexpected hard times, but wealth hoarding of saving just for the sake of it should be a crime. There should be an upper limit on savings and investments, and millionaires and billionaires should be made to release their hoarded money and also pay fair taxes.

[@mella8298]

Agree, though Martin isn't the only person trying to help people - have you seen Gary's Economics KZbin channel? I think you'll like it! 🙂

[@scatmann5839]

​@@mella8298Gary who? It would help if folks didn't post cryptic comments. You could at least post Gary's full name or even add a link. Thank goodness Martin Lewis isn't like many of you.

[@scatmann5839]

@amandahunter4034 Do you believe in democracy or autocracy? Forcing people to do this or do that has no place in a free market, liberal democracy!

[@mella8298]

@@scatmann5839 I did. Gary's Economics. No need to be rude, especially as I already named the channel. Geez. You could have typed in the name of the channel into KZbin - I did capitalise the word "Economics" after all. My comment wasn't cryptic at all. You were just being lazy.

[@jaynewilliams1032]

MARTIN should be chancellor of the exchequer, he would definitely sort our financial problems as a country.

[@stevegoodliffe4351]

Agreed - but why would you do that to him - he need to go in and teach the mps about real world money instead

[@mkoschara]

Martin Lewis for prime minister.

[@mella8298]

Yes! And Gary Stevenson and James O'Brien!

[@paulmessenger9836]

I guess your left wing

[@mella8298]

@@paulmessenger9836 No, just a human being who can see that what's happening around them is not working and that change is desperately needed. I'm more in the centre actually. Though the undercurrent of your message is that people who are left wing are shameful. Is that right?

[@mkoschara]

@@paulmessenger9836 "You're?"

[@James_Doyle83]

This December only buy presents for the kids adults don't need Christmas presents that will also save your money for the rest of the time

[@Aco747lyte]

John Pienaar's interview with money saving expert Martin Lewis is informative, easy to understand and wholly enjoyable. Many thanks! 😊

[@mikedennington8856]

Should have cut back a long time ago instead of sitting basking in 24C. Get out and have a walk and when ya get home ya don't need so much heat. People are too lazy nowadays.

[@stevegoodliffe4351]

All well and good if you can walk - what about folks who can’t actually walk ? Be careful with using wide brushes please

[@petercollins7848]

Most people can save money but they won’t put the work in to do so, they also waste a lot of money on keeping up with what friends and others do. Most people today live at a level that years ago could only be dreamt of, but we have all got so used to it, we can’t imagine living any other way. But these are serious times and are going to get more serious probably - and it has nothing to do with which political party is running the government! So we need to get real and engage ‘survival mode’ for a few years to get through this. This entails especially training children to expect less and realise that the good times are on hold for a while, which will be the best training for life that parents can ever give and hopefully will lead children to lead more sensible lives as they grow up. Fads about foods and eating should be trained out of children and the whole family should eat one meal to save money. Also smoking and drinking should be cut out. No one needs to do these things, it is just complete nonsense. Needless to say, expensive TV packages should be cancelled, there is enough content on the free channels for anyone, it is just that we have been propagandised into getting these things by clever advertising and keeping up with what other people are doing. Reading should be encouraged in children instead of brainlessly watching hours of TV content, and books are free at the Library. Gambling in any form too is madness, and the existence of gambling shops in this day and age just amazes me. Anyone who gambles in any way at all needs to look at their mental state, for it is a complete mugs game - but it seems there are still plenty of mugs out there! Except for special circumstances no one needs to heat bedrooms, kids sleep better in cold bedrooms. The family should be living in one or two rooms that are heated to a reasonable temperature. If homework needs to be done, then that should be done in the Living room with the TV off and everyone focussed on that, though personally I do not see the need for homework at all if teachers are doing their job properly during school hours! We need to adapt a virtual ‘war time’ mentality and ignore what anyone else is doing and secure our own survival. It won’t be easy, but it is the only way if we are to get through this very difficult time.

[@gardeninginthedesert]

Good tips. It's amazing what we can do without, is just a change in mentality. I'd add to ignore what others think of you. You don't need a new outfit for every occasion. Your kids don't need a new school bag, lunch box, whatever, every year. If others have a problem with that they are the ones with two problems, a mental one and poverty because they waste money.

[@joerobert1801]

I think it is important to spread funds in channels that are poised to do well in recession. I'm currently finishing my 6th duplex and retired from the rat race at 35 and what funded all these were strategic investing in stocks and consistent trading crypto. I'm exceptionally well positioned for what's to come because my portfolio is solid enough to withstand and outperform irrespective of the market trends.

[@rahultoggi4672]

Way to go buddy! The only people who are going to make great impact in their investment portfolio are those who see the 2022 recession as the biggest opportunity to get rich.

[@joerobert1801]

Gregg, plot your course bud, I am personally invested 80% in stocks, 20% in crypto and of course with the guidance of my investment coach Frost Hilda, this yields an annual return of $400k. Frost focus on leading stocks in top industry groups, and aim for stocks with strong institutional support. He plots good entry point and has greatly enhanced my earnings and portfolio performance over the years.

[@seanroger6954]

I guess the market doesn't look bad, Its me who just don't see the opportunity it's providing right nOw.

[@joerobert1801]

Follow my lead ma'am, using a coach with extensive knowledge of portfolio diversity and is considered an expert in the field on. I advise researching his credentials further for his business memos. he has many years of experience and is a valuable resource for anyone looking to navigate the financial markets.

[@Rachel_Collins]

Do you have videos teaching about this? Would love to learn more from yourself

[@jacek_dzieciolowski]

I believe BoE published research saying average household's mortgage monthly payment will increase by £250 from £750 to £1000. I think this is what Martin was referring to...

[@user-jh6ww1qx8e]

Force the banks to pay base rate on savings rates

[@jermainerobinson7098]

Nice show enjoyed that

[@garethhodson3896]

Best thing to ever happen for a “money saving expert”!

[@donnalongden8686]

Speak to your energy suppliers about the PSR ( priority services register). For the elderly, vulnerable, sick and those that have a young child in their household you can register for the PSR. It means you get priority in power outages but MOST importantly means you are registered as having needs that no matter what they cannot switch off your electricity and gas and CANNOT fit a prepayment meter. If you have 2 providers contact both. It still means you have a gas and electricity bill that needs paying but make sure you offer a payment and keep the payment no matter what. It isn't ideal but it means if you're struggling you cannot have your utilities switched off.

[@harveydontell777]

Nice comment! 👍

[@samantha392]

Buy your Christmas presents in January, better still go without.

[@flicchick10]

If people pay off their mortgage weekly they would save thousands in interest and the mortgage would be paid off quicker.

[@alastairdickson5131]

I wash my clothes with no temperature and don’t use tumble dryer. If only boiling kettle for 1 cup full cup first then tip into kettle.

[@janetschwartz1790]

I saved money by stopping watching TV so I don't have to pay the license fee. I now go to our local tip shop and buy DVD,s for 20 pence. I watch one film usually a day and find that this cuts down my electricity bill as the TV isn't on most of the day. My computer tablet is charged by a solar panel and my smart phone is charged in my car.

[@MargaretUK]

I stopped my tv licence too last year, didn't miss it at all. There is so much excellent free content on KZbin which is far better than the nonsense that is on tv these days. I charge my tablet overnight on economy 7, the smart meter doesn't even go up when I plug it in so less than 1p per hour 👍

[@janetschwartz1790]

@@MargaretUK it's funny isn't it..... You think it would be really hard to wean yourself off the TV but I found it really easy. It goes to show that half the time we weren't really watching it.

[@ep1929]

Freevee * not freezer lol

[@r.brooks5287]

I gave up tv when I moved 15 years back. I get a lot on ITVHub and yes, youtube.

[@Dana-ml7sy]

Some people don’t want to help themselves. I’ve lost count of the people I’ve offered to help cut their bills. Friends, family & neighbours with the exception of one. My mum (who was very ill at the time) accepted too. Her bills were slashed & she got freebies. My mum was incredibly financially savvy & thought nothing of haggling with market vendors but didn’t think the same applied to services. We can all learn to take good advice.

[@drkarenbukharibukhari9931]

Ilovemartinlewisfinancialadvice🎉

[@shoelessjoe428]

The energy "cap" has limited our bill increases to 100% from a year ago. But the government help only lasts until spring. Then what? Another 100%? ..Maybe 300%? There's a fundamental problem here that is not being addressed.

[@mikedennington8856]

so cut back, go for a walk stop bloody whining.

[@shoelessjoe428]

@@mikedennington8856 Tell that to the thousands of Brits dying of fuel poverty every year. Talking of whining, how about all the rich people who whine until we get socialism for the rich (in the form of bailouts, exploited workers, 'special' PPE contracts via backdoor channels). They're the real whiners.

[@andrewhill8840]

I would love to use the help to save, but I'm only legacy , so I don't count I also didn't receive the uplift. I turned the oil heating off last February (£1000) to fill. Type 1 diabetes, no left leg, paralysed stomach. We need a social tariff.

[@chrisrinelambert9418]

Thank you it’s looking bad

[@MyMccarron]

Any good news

[@stevegoodliffe4351]

The government help to save scheme appears to be only for those with young kids or people working We’re on legacy benefits (disabled) and want to save something for next winter fuel - what help is there for us ?

[@johncarter6778]

Awesome

[@nicholaspostlethwaite9554]

The best way to save money is easy. Stop spending it.

[@Riggsnic_co]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[@CraigChap_6898]

The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.

[@maga_zineng7810]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000

[@audeywolsh]

Mind if I ask you to recommend this particular coach you using their service?

[@maga_zineng7810]

'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@audeywolsh]

thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@familyoftwo7441]

Is it legal to take 25% of your pension at 55,live on it,and with your income in that time,from a job raise the pension pay in to 40k,and reap the tax back benifit?

[@classicraceruk1337]

I just saved £500 a year on my Broadband/ TV supplier. £80 a year on my mobile. Changed all my saving accounts to ones 6 times higher.

[@dreamer_tom]

Which account do you use?

[@96s40]

I realised my ISA interest rate (had since teenage) was an abysmal 0.1% and recently switched easy access to a Santander e-saver at 2.75% (so a 27.5x increase); took 10 minutes. Soon to move 80% of my funds to a fixed rate bond above 4%. Mad to think how many are still holding most of their money in accounts with paltry, outdated interest rates. Will be making £400+ extra a year from that movement & current account switch, thanks to Martin Lewis's advice !

[@classicraceruk1337]

@@96s40 Well done, I have done similar but not used a fixed rate yet. Interest rates are going higher. It’s about time to.

[@MPM6785ChitChat]

I've never bought presents for adults - only for their children, and just gifts for my own and my partner's parents. Once children became 14 l started to buy just for the parents instead. Adults with no children - like myself, who gave gifts l'd reciprocate in kind.

[@misslanapaulford]

Ohhh that's been one of my biggest bug bears. The expectation that someone who is a parent with 1 child. Then expected to siblings or friends with Multiples of children 2/4/6 that's not fair.. Everyone has different circumstances.. Here you buy for my 6 kids that I willing choose to have, but they only have to buy for..people shouldn't have to pay for other people's life chooses..U chose to be irresponsible and knowingly have 6 kids without thinking err CAN I ACTUALLY AFFORD to have 6 kids.

[@birdsaloud7590]

Government ‘provisions’ means spending taxpayers’ money whilst energy companies report extra profits.

[@harveydontell777]

Our energy companies were sold off years ago?? The French own them now and as a result, prefer to subsidise their own and charge the British accordingly.. We also pay the 100s of millions to stop the financial refugees in dingys, which they take, and still they continue to arrive on a daily basis?

[@Natta44]

Use budget spreadsheets. They saved my life when saving up and cutting costs. When you see the numbers in front of you, and your disposable income left over. It motivates you to increase that disposable income by decreasing bills by switching providers or cutting out subscriptions you don't use as much. Spotify, KZbin, Netfix, Disney plus, apple TV. They all add up on top of your TV license! Cutting out daily coffee purchases, nails appts. Just all non essentials. It's a shame, but you can live without them.

[@misslanapaulford]

Agreed. HOW many people complaining are still. 1. Smoking 20 a day 2. Drinking 3. Expensive subscription or Internet 4..Expensive car 5. Expensive or latest Phones with contract. 6..Small families) swapping over to WM 7..Xboxes, Play stations, use lots of Elec 8. Still buying what they used to instead of making changes. Right now people need to make realistic changes and sacrifices and bare in mind it's only temporary. It's not forever just until things improve.

[@alibali193]

We had uc for a very short time due to work changes. In that time we opened help to save accounts. Putting the maximum in every month. Plan is to have a car replacement fund rather than getting finance on a car

[@johnrandle8365]

The difficulty with pension credit is years have passed and the criteria hasn't changed its amount to take in the rising cost of living while pension credits stay as low over many years but just enough so they make sure you can't get it , Because the pension is low also aimed just above it we are about 5 down the list for our pension other countries pay better?

[@johnrandle8365]

Because if their are two of you added together the pension is just above the pension credit and yet look at the cost of living its all a con ?

[@Horizon344]

Good man, Lewis.

[@lucydawson1344]

What if you’re already doing all these things though?!

[@TheNicoliyah]

This is the dilemma that so many people are struggling with. If possible look at things that u can sell & also look at ways to increase ur income. Obviously getting a second job can be tricky if u have childcare issues

[@elozzaa7456]

Ya cant help everyone

[@Anthony-tq9so]

Then the thing to do is back to basics. If you,re in an income/outgoings deficit, then realistically one one solution. Increase income (a second job, side gig etc) ,decrease outgoings , or a combo of both. Not saying it,s easy,but that,s the formula.

[@gm2407]

@8:15 this is something I never heard of but sounds even better than Martin said, see the government site.

[@drkarenbukharibukhari9931]

Ilovefood🎉 Brit 🎉

[@williamgoss4691]

Thank you Martin, u really are the People’s Hero !! I don’t think that there is a Minister around the Cabinet table that is even a tiny fraction of your commitment to people’s financial welfare than you are. Like you I dearly hope that The Gov will ‘lift’ the current levels of Benefits & Pensions by the rate of Inflation and not drop it by some mis-begotten level of wages and salaries. If they don’t we are likely to see the most devastating and widespread destitution that this country has seen for 50years. But even doing that won’t stop Nurses & other workers struggling to Heat themselves and their family relying on Food Banks for something to eat, even if it’s only half a packet of supermarket cornflakes !!

[@kw8757]

@@DS-cf1zc Didn't Gordon Brown do a tax raid on pensions to squander the money on lay-about scroungers?

[@andrewhurworth9190]

2

[@seanmorris7883]

With interest rates rising over the past year why do our bank account interest rates not rise with it ?

[@alastairleith249]

The root cause of all this is rising costs of petrol/ diesel (both of which have come down). Wholesale cost of gas has also come down, so why are the bills not coming down. Lower inflation, people will better afford to live.

[@travelorchidslondon]

Changed my bank account to Santander, didn't like it, and went back to my favourite HSBC

[@drkarenbukharibukhari9931]

Lloyd best bank🎉🎉

[@Yvo19]

Does anybody have a 'Help To Save' account, on ESA? Everything i read suggests he's wrong about legacy benefits getting it.

[@alexanderromanov737]

IMF Country Report No. 22/56

[@Vikas-pv3ie]

The way energy providers have been revising prices needs a bit of look. In case of gas the unit prices have been raised. However, in case of electricity the standing charges have been raised lot more than the unit prices. People cannot optimise the usage of the gas and there the uplift is on the usage. On the other hand, people can optimise the usage of electricity to some extent, but there the uplift is on standing charges. This does look like a design to maximise the energy bills. British Gas' profits increased 5 times back in Jul 2022. Surely it will increase even further in coming months. Looks like another set of businesses to be considered for windfall tax and then to use that tax for subsidy to people on energy bills. Energy is a fundamental need like healthcare. It shouldn’t be an area for profiteering while people suffer.

[@anonnymous4684]

Standing charges have increased to pay for the companies that went bust, taking their customers credit with them. The suppliers of last resort are being reimbursed out of the increased standing charges, otherwise they would have effectively taken on a debt. It was decided that using electricity, rather than gas was fairer, as everyone uses electricity.

[@Belfreyite]

It should not be an area for profiteering PERIOD! Re Nationalise all energy provision and run it without shareholders. Any dividends are straight back into investment. END OF!

[@keithhobbs1]

@@anonnymous4684 And to add to that I believe this is dictated by ofgem. Energy companies had no say in it

[@keithhobbs1]

@@Belfreyite Yes. But no national government can subsidise energy consumption/prices indefinitely. The basic problem is we're not self sufficient in gas. We use more gas for heating than most other European nations and that will take decades to change. The dash for gas in the 90s is now coming back to bite us. If you nationalised the supply utilities, which never make a lot of money , you would still have to pay the generation companies the commercial rate. Before you dispute the supply not making money let me clarify. Shell is making money hand over fist because of the generation/extraction side of the business which is benefitting from high prices. The subsidiary which is their supply business is buying gas and electricity on the wholesale market so is probably operating at a loss and being subsidised by the parent company. Unless they can find a mechanism to cap the wholesale price I think we and the rest of Europe are stuck with it .

[@gorfonibla1060]

Our standing charge went up from £0.29 per day to £0.41 per day. Yearly that’s an increase of £43.80, or £3.65 a month. It does not make a massive difference to the bill.

[@meezursrule]

Martin Lewis is so helpful with the work that he does - he's a mine of useful information for the nation. And many thanks to him for doing the work he does so meticulously and passionately.... But... I can see why some people might react negatively to talk about savings etc. There can be little hints of 'othering' in the language used - little hints that he views 'the most disadvantaged' as an entirely different group of people, not at all like him or even like his viewers. When the reality is that more and more people are in that situation.... I just think that if he was a little more careful with the language used, he could avoid alienating and upsetting people on the sensitive issue of personal financial struggles. eg "Many people will save over £1k per year" (by reviewing their outgoings). For the people for whom a grand a year savings is simply not possible, the "many" is alienating. If he had said "Some people could save £1k per year" that would have been more inclusive, IMO. OR "It won't have been that much money, ......so it's only a few hundred quid a month they're putting away". A FEW HUNDRED QUID A MONTH? That is a huge amount of surplus income to many! For many many people, being able to save a few hundred quid per month is a pipe dream....... If Martin had just said "It's a few hundred quid a month that they could put away in that type of account" and avoided the 'only' and the 'it won't have been that much money', he would have avoided alienating the significant number of people for whom a few hundred pounds per month is a lot of money, and could avoid accusations that his programme is only there for the middle classes.

[@96s40]

You're actually reading your own bias into it, imo. If you were to switch your savings approach and had, say, £5K aside (which is not an unusually high amount of savings)-- you couldn't put that in as lump sum for 5.25% AER because the regular saver he refers to "only" allows for a cap of £400 per month. So yes, whilst people may not be able to consistently save hundreds a month, of course, it makes sense he says "only" because it means that if they do have a larger sum in a savings account (which may have been been accumulating for years); they're not able to take advantage of that 5.25% interest rate. What he said is perfectly sensible imo, and equally applied to me recently (with Club Lloyds) even though I'm not on a high income; it is more profitable to put in 3K at 5.25% as lump sum than 4K incrementally (capped at 400 p/m). To say "many" is also perfectly fair because it is true; your sensitised language also seems too vague and discouraging as people may (wrongly) assume that such advantages exclude all but the high income earners. He is clearly trying to encourage as many as possible who he is capable of helping- those who have not fully implemented active saving and unnecessary expense reduction / price reviews & budgeting . He also addresses those on the lowest income bracket who are struggling most vulnerable with cost of living, at 7:00, but is sadly at a loss of how to help in significant ways, because so many small expenses adjustments have already been accounted for. Regarding energy bills/ cost of living impacting those not in the position to actively save; the best he can do is lobby the government (on pensions, on living wage, etc), as he has done... [He addresses you at 7:55, btw]

[@meezursrule]

@@96s40 Such language DOES exclude all but high income earners. There's people working full time out there who still need to use foodbanks to get by! I think the advice ML gives is excellent, I just feel that he could be more sensitive with his use of language.

[@bria2596]

It is very hard to edit language for the best outcome when you are speaking "live." Think about how long it took you to write this comment and edit it so that it made sense (it does), and see if you would have done as sensitive a job if you actually spoke it all out extemporaneously in less than a minute before a live interviewer - which is what he had to do. We all know that the more we speak (as opposed to writing) the more often our wording is not as perfect as we would like it to be. I learn things every time I listen to him...and it's free, very useful, thought provoking information.

[@meezursrule]

​@@bria2596 - Yes, I do understand that. And I do think that possibly he has not considered his phrasing (lots of us don't). I just thought he sounded a bit annoyed, or hurt, at being criticised for being elitist, and I don't think he has any intention of coming across that way, or that he is in fact elitist. I posted to feedback the point that some of his phrasing could be taken that way....he probably will never read this, but if he does, it might prompt him to think about how he's using language.

[@TonyP_Yes-its-Me]

Last year, I sat for 2 hours with my sister, and looked at her finances. We stopped £70 of forgotten/not-needed direct debits, a month, and put some of her money in a savings account, that will earn £200 interest. That's over £1000. In 2 hours. Check your direct debits, folks!

[@brian.7966]

on my NHS pension, I got 68 pence a month rise this year and you lot are complaining, when I wrote to my MP I got no reply, that not surprizing.

[@CpT1977]

Top work tonight

[@salsanchez2114]

Look for the system to break. It nearly did a few weeks ago as British pension funds were nearly crushed by a LDI liquidity/derivative crunch and had to be bailed out by the BoE. As interest rates climb to combat 11% inflation this scenario is likely going to be repeated, not only in the U.K., but also in the U.S. and Italy particularly. Batten down the hatches, mates. Very rough financial seas ahead.

[@jamesfulton8251]

It's tough just now Martin, didn't you notice ??????

[@sarahfellows3074]

Spring 2023 will be tough?!

[@reducepricroryhrywtby]

I rang a few companies and got discount s, I had to ring

[@willie-whistleblower]

UPDATE: Quote from Mr Sunak: 'We're putting the extra money in"--12 years too late you silly man; the horse has bolted, broken 3 legs and been sent to the knacker's yard. How can anyone untroubled by the thought of dying in a car or on a hospital floor possibly empathise with the vast majority of people? 'Car Triage', 'Reverse Boarding'...there's a whole new vocabulary now to describe the suffering of the 7 million people on the NHS waiting list! "Get real Rishi!" More generally, surely the more government relies on the private sector to provide facilities, equipment and fill in for missing NHS practitioners the more it will cost the Country on an ongoing basis?. Why are there 170,000 vacancies in nursing? Could this have anything to do with Brexit and 12 years of underfunding? It's time to carry out an immediate thorough-going audit of how much money goes into the NHS every year (LBC's Nick Ferrari cites £4bn per week, in which case just multiply that by 52!) and conduct a stock-take of how this money is being spent (down to the nearest pencil). If Mr Ferrari's figure is accurate the tax-payer has every right to know into whose pockets this money is tumbling. Presumably there's a government department with all the answers at its fingertips, and, if not, the taxpayer has the right to ask why isn't there. and require the answers to these questions. The constant refrain of this government when challenged to account for its 12 years of abysmal housekeeping is 'we've been splaffing billions into the NHS so what the heck more do you expect us to do?' Rapid rush for the nearest door... or find a fridge... Isn't it patently obvious that the country cannot begin putting its NHS in order until it knows what's being paid in and who's getting it. In other words the taxpayer has every right to know that his hard-earned money is being well-spent, without cronyism, corruption, profiteering and the like and government has a duty of disclosure. By government one means THIS government, which has held the purse strings for the past 12 years and whose ministers have been well looked after in terms of (regularly reviewed!) salaries, expenses and 'perks'--interpret that as you like! Mr Sunak's government must explain the figures and do it withour delay. And if they can't do the sums, they must settle the strike and start caring about the sick and dying...now. . .If they fail in this it will be a case of déjà vu--calling on the British people to vote them back into office blindfolded ; they got away with it last time with Brexit but this is not a way to change peoples' lives that bears the hallmark of fairness and INTEGRITY. Does the Money-Saving Expert have a view on all this?

[@freedomworks3976]

Notice that the more social welfare the government gives out , the more is needed

[@xxkq0]

Backwards. The worse the economic situation is, the more welfare is necessary to stop the system collapsing. Economic inequality is reaching unprecedented highs. That is the problem.

[@freedomworks3976]

@@xxkq0Point well taken. Why do you believe there is so much inequality ?

[@MarkHK66]

@@freedomworks3976 money makes money. Has to go somewhere.

[@MarkHK66]

Notice how many things that are available to lower income people require the payment of greater interest. Annual car insurance vs monthly. Annual car tax. Taking credit instead of paying up front. It's all structured to make it harder for those at the very bottom to do anything in life. While having money means you save money. Imagine having enough money to not need a mortgage. You would save 100k+ on a house without one.

[@misslanapaulford]

Don't blame the welfare system. Only 2 groups are to blames. 1. Energy companies making billions knowing how people are struggling 2. Tory Government for not putting a huge windfall Tax on all of the Energy companies..That money alone would pay for so much. SUNAK has NO🏐🏀🥎⚾️⚾️ to take them on.

[@rodjspowell4720]

Best way to save money don’t spend it simple put extra clothes on I have a blanket downstairs there’s all manner of Waze that you can use not to spend money on heating

[@pjo4622]

Plus even before the money crisis we were being told to cut down on heating to save the planet.

[@garnhamr]

earning the same as i did 15 years ago.

[@sillymadeupusername]

@Roger Rabbit I had a paper round 50 years ago - if only I hadn't wasted it buying comics 🙄

[@alastairdickson5131]

Sorry to hear this why don’t you change jobs? No rises would really depress me.

[@marviwilson1853]

"Most people can cut there credit card costs" Therein lies the root cause of the problem - people buying things for which they don't have the money!!

[@JackKing12.]

Best way to save money is NOT TO SPEND MONEY

[@ianwatts8446]

No one got rich wasting it..

[@lifeonanotherplanet]

The only problem, as we all try to spend as little as possible, and the government cuts spending and raises taxes, is that my spending is your income and vice-versa, the fallacy of composition kicks in, Keynes's 'paradox of thrift', ensuring that debt rises as a ratio of national income. The government is not a household. But ... they do know all this, and it seemed to work for them last time round (i.e. the 0.1% guiding policy decisions and proselytising for it).

[@jd9720]

And we will all be out of jobs if consumers stop spending.

[@whealman142]

It’s simple, just earn more money 🤪🤪🤪🤪

[@swanseawales1979]

We were all warned about this for the past 12 -18 months

[@finanzferdinand9874]

There will be so many in 20 years or so in poverty in retirement

[@groovydonkey]

I spoke to BT when renewing my BT contract and told them of my situation and I spoke to someone about the social tariff, but was told if I had any problems with my internet connection, it would be prioritised, like it is on a full contract and have to wait for it to be repaired, so that put me off of going onto that as I do depend on my internet connection. So they offer it, but with strings attached!

[@alastairdickson5131]

Watch Dave Ramsey on you tube loads of good advice.

[@user-yp9nz6bs9q]

Captions?

[@chubbyBunny94]

Press CC ?

[@freedomworks3976]

England ??? Social benefits ? Lots of welfare in Europe.

[@DH-zp7bc]

The man that works for the system.

[@finanzferdinand9874]

Key words - "Low income". All the other stuff he says is about picking up sweeties.

[@wtdiaeemergency8996]

here is a way you can poaitaly make a bit of mone but no right now because here is soimehing going on with silver ha has risen the price wai for it o fall before you do this you can buy silver bullion from an online dealer ive seen it as low as £16 an oz and sell it for he current price of £48 on amazon or ebay

[@simonmason297]

You need to be buying physical silver and gold now. It's all going to be revalued soon.

[@topfuelteddy]

That's right , I'm totally happy about my savings being halved .

[@jd9720]

And Bitcoin

[@taz2392]

Buy shares in Amazon

[@drkarenbukharibukhari9931]

Idontlikehatecrumes🎉

[@TheF1uffyOne.50]

Maybe he could achieve more if he went into politics

[@adamanthony7465]

If we require financial wealth...we must be good at genuine relationship....and end the social state. Care for another cannot be delegated to a political system. Furlough has cost the poor more than any scheme before. Renewable energy will help to mitigate certain failures yet not all. Inflation is the price Zimbabwe paid. It seems Britain is joining it. The common thread..desire for sovereignty in a networked world..where relationship lies at the centre of being .

[@zooldoo]

A very underrated comment. Delegating relationships and care to institutions should be a last resort not a commonplace solution. We live longer but spend our last years rotting in care homes while our life savings pay for the privilege.

[@wtdiaeemergency8996]

ONE REALY GOOD THING MARTAOIN HAS ON HIS WEB SIGHT THAT WILL HELP THE POOREST OF HE POOR IS THE FORUM WITH WO MEALS FOR 50P

[@nrobinson20081985]

Get it in crypto forget fiat its a dead system

[@mypointofview1111]

He's talking absolute BS. Martin has set himself up as a money saving guru and he's telling people to spend their money on stuff they don't need just in case something happens. It won't. Don't take his advice

[@Ahealersessentials1]

What about if you use the money you've saved to invest in yourself and your ideas. That's how you gain leverage, that's how you get out of the system. I mean most people who managed to get of out this rat race took those steps.

[@mypointofview1111]

Exactly Martin is the opposite of a money saving guru. Just another fake IMO

[@paullasky6865]

Martin now a climate change mouthpiece as well. 🤦🏻‍♂️

[@ascgazz7347]

To get access to help to save you must be earning. I think it’s £632 a month, if you are only surviving on universal credit and not working then you cannot get access to the help to save fund, even if you get PIP, and like me a health extension. That little nugget got my hopes up, which was soon dashed by the government website

[@johnrees]

Exelent video ..... thanks very much

[@livingtribunal4110]

Brits gonna _freeeeze_ Brits gonna _starrrrrrve_ Putin gonna _wiiiiiiinnnn!_

[@harrybruijs2614]

Fool is also true for Vlad.

[@ayela562]

🙄

[@AJ-hi9fd]

Unfortunately not just the Brits, but many more.

[@livingtribunal4110]

@@AJ-hi9fd Good to know.

[@hgv1947]

@D C troll

[@yazkhanxxx]

Hi I want to ask about the wealth loophole" that you have mentioned can transform anyone into a millionaire within 3-4 months, cryptocurrency auto-trading program called Ethereum Code, thank you.

[@johncarter6778]

Awesome