The Real Problem with Martin Lewis

[@bombski5657]

Call me a conspiracy theorist but I've always had the impression that the lack of financial education in the UK is deliberate. I went to a state school and we had one lesson on personal finances. This lesson wasn't even part of the curriculum, the teacher just chatted with us about basic stuff like credit cards and mortgages. When you think of all the time spent learning things like logarithms and geometry which most people will never touch again it's even more shamefull. I'm certain this is done to make the majority of the population easier to con with huge mark ups on things like hire purchase deals and car finance. I'm glad there is now a massive amount of open source information available to young people. Hopefully the next generation will be more financially savvy.

[@nickjm4108]

100% Andrew

[@jaseperi]

Nope you’re not a conspiracy theorist that’s conspiracy fact. Government don’t want us to learn about money so we can rely on them and therefore easier to control. Rich dad poor dad book covers some of this and sends you in the right direction.

[@Shnayblay]

Of course it’s deliberate. Think how much money companies ran by the rich make off the poor. Everyone wants to look like they make more than they earn so they finance a German motor. The fridge breaks so they take one out on finance. They want a new phone so they get one on contract. The system and credit scores are designed by those wanting to keep the poor at the bottom while they get richer. By the time most have decided they want to learn about personal finance it’s already too late and they’re in debts and their credit scores are shot. It definitely needs to change.

[@andy1992uk]

Surely it's beneficial to economy and government to have a literate population on investing. Saving is bad for the economy. Think of all the money that would flood into the ftse. It wouldn't be the laggard any more. Its self fulfilling. Increased investing means increases returns.

[@finallyreborn7982]

Martin Lewis is a great guy! He is worth over a 100million and he still helps people save a few quid, what is there not to like. He won’t show you how to make a million or sell you a course that is not his intent he just wants to show people the best deals out there. The guy deserves more respect

[@nickjm4108]

And he’s given it!

[@Madvillany718]

Money doesn’t need to buy you happiness, it’s purpose is to bring you financial security.

[@MariaSantos-rv5kh]

Excellent video. Not fair to have Martin Lewis on a clickbait title. He has his niche and he has helped many people. But I completely agree with you. I would add tax-saving methods/accounting to your list. If only I had known about FIRE 30 years ago...thanks for the content.

[@nickjm4108]

Hey Maria - It's more the bias that Martin represents. He delivers great value his auidence, no denying that! Thanks for your comment :)

[@iftomatosareafruitwhyisntk4038]

What's Fire?

[@precociousdeathdealer202]

BRO THIS IS BY FAR THE BEST FINANCIAL VIDEO YOU HAVE MADE. 5 SIMPLE YET POWERFUL PERSONAL FINANCE ADVISE TO FOLLOW

[@nickjm4108]

WHY ALL CAPS 😂

[@myexercise9001]

Well I was clueless I’m 40 and what Ive learned on this and another channel, really makes me wish I knew the basics and started 10-20 years earlier.

[@jroobz]

Personal finance needs to be taught in school. I was in school in the 90s and all I was told was how to write a cheque and that having a high paying job is the only way to make money.

[@nickjm4108]

100% - I can remember doing cheques in gcse business studies. I've never used a cheque since...

[@DrBenVincent]

Completely agree. Although once you start learning about investing then there are some awkward issues around maximising value extraction from people’s labor.

[@geeman6274]

Great video, I thought the same after reading Rich Dad, Poor Dad a few years ago! I've overpaid my mortgage for a long time which Martin Lewis does advocate. Here's hoping the gap in the market will see you on ITV in the near future! 🤞

[@nickjm4108]

Jesus - I don't think anyone wants to see that!

[@geeman6274]

We'll see when you have a few million followers, ITV will be calling! 📞

[@natpurr5165]

Great video Nick :D was worried at first with where you were going with the video!

[@louiem97]

Nice video, think this hits the nail on the head about lack of education in this country about personal finance. It’s very typical of Brits to not discuss finances but in reality it would be better for everyone to have these conversations.

[@dantalksmoney3310]

Martin Lewis was my idol when I was growing up and learning how to be thrifty and save a load on different products...sounds very sad now I say that out loud 🤣 Totally agree with you though that you need to do far more than be thrifty to succeed financially.

[@IainGeddes]

Hey Nick, fantastic video! I completely agree with your thoughts on Martin Lewis. I personally think he is a brilliant starting point for 99.9% of us - and like you say, definitely more valuable content being provided than half the crap on TV - but the irony with how he created his wealth as you pointed out is spot on! 👌 nail the basics and focus on the big wins! just wish I realised all this at a younger age instead of scrimping away all spare pennies! Looking forward to seeing you on our TV screens soon (and not just through YT) as you’ve subtly hinted at the end of this vid 😉 😂

[@willc2994]

Thanks Nick loved the video! In my opinion, the uk has always made investing seem like it’s ‘only for the super wealthy’ or that you need a large sum to begin with. Couple that with the length of time it takes to save that large sum, plus the fact that investing is risky the majority of people don’t even consider it. I’ve since learnt a lot of that isn’t exactly true ( yes some risk but not as near as is made out by our older generation etc)

[@nickjm4108]

100%

[@rupenjshah]

I've just started following you and am enjoying your content. There are only a few UK based personal finance KZbinrs out there it seems, so great to have your content. I'm probably a bit older than you and Martin Lewis and MSE was the first person way back when you got me to understand about saving money and making sure you get the most value for your money. Back then the MSE forum was a wealth of information (it probably still is now). These were the days of stoozing your credit card with 0% interest. However, I 100% agree with you, Martin was great at teaching about saving but I didn't learn about investing or growing my money from him. This only came many years later through someone called Andrew Hallam

[@nickjm4108]

Never heard of Andrew Hallam if im honest. The comment seem to be really split. Half preaching FCA and half saying more needs to be done

[@Toddy-Terence]

Correct me if I'm wrong.. but Martin says people are entitled to benefits, 'free money' or 'free stuff'. The problem I have here is these benefits, 'free money', or 'free stuff' only comes out of taxpayers expense. So the more benefits or 'free stuff' there is, our taxes are only gonna rise. = Since it only comes out of taxpayers expense. Meanwhile our taxes has risen even more now.🤨

[@guymartinwicks]

Glad Martin Lewis is a better presenter, got 50% of the way through.

[@nickjm4108]

50% is a good watch percentage for youtube... so thank you?

[@MrBoggie2]

What’s a stonk and what happens when you own one?

[@IainGeddes]

😂 stonks only go up!? 🤨

[@davidlloyd3116]

Now I’ve retired I invest in wrappers and GIAs. You’ll never hear those mentioned on Martin Lewis Shows.

[@simonamoakohene6746]

if ur part time worker shud u invest do you think

[@nickjm4108]

Completely depends on why you wanted to invest

[@kwameopoku3576]

@@nickjm4108 well im 30 and im looking to do better with money and not spend in foolish things and think the miney I have left over wud b better invested also i dnt think my money would grow that much in a savings account

[@billmuir8766]

Plain English and common sense spoken there Nick ~ thanks.

[@leepshin]

I remember when Money Saving Expert website first launched around 2001. His "advice" was useless for poverty line and only applied to the middle class with good credit scores.

[@BsktImp]

Great piece and I agree with a lot of your observations. There is certainly a place for ML but, as you say, there's no balance. I think the closest MSM ever got to tangentially educating Britons on anything to do with investing was BBC's _The Money Programme_ that ran throughout the 80s to early 00s. In recent history, investing in anything other than your own home (property) and a personal pension was very often depicted as a synonym of either men in a pit making funny hand gestures and shouting at each other or sat a computer with three or four screen shouting down a phone. Investing (i.e. taken to mean almost exclusively "having a broker") was the preserve of the 50s throwback solid middle class type in one of The Professions, yuppies and Old Money, not something the ordinary working person did. A crude 'n' skewed view I admit but perhaps not a million miles from the reality.

[@StupidIsTheNorm]

Great video Nick. It’s just as well there are channels like yours and mine around mate

[@staffie1uk]

I agree with all this, and it made me think about what I was taught at school - which is a major part of the problem. I was taught how to get a job and keep it. In terms of money, I remember learning about credit cards, cheques, bank loans, the difference between a hire purchase and credit agreement, and not much else! In summary, how to earn money through work and how to spend it.

[@nickjm4108]

100%!

[@miketitmus3417]

Good point

[@gusleonard9397]

Totally agree with much of this video, its difficult for Martin Lewis to give investment advice, but when I ask people about stocks they always say 'oh you're gambling' or 'you'll lose all your money and it's for the rich and risky'. Most personal finance channels I watch are Americans because we do not have the same culture of investing and growth.

[@nickjm4108]

Yep completely agree. I don’t think Martin Lewis should change, we just need someone else to give some balance!

[@scragglysaggle7571]

This was super interesting, us brits are brought up to be safe with our money - always saving it, mean whilst the US clearly have a different social attitude to ‘invest’. Would be interesting to see heavy research into this as to whether this switching allocation of money amongst brits would truly benefit our economy

[@hpvhomebuilder]

I too wish to pick a bone with Mr Lewis. A young lass asked him about passive income to help her into financial security on the way to adulthood. I thought this a great question. Mr Lewis completely blanked the enquiry and carried on regardless with his line of thought. I agree with your critique. Keep up the good work.

[@Asylum5g]

Awesome video! We certainly neglect the fact our potential to grow income is so much greater than saving on costs. And whilst he has been really useful to the saving pillar there is so much more to long term wealth. You’ve hit the nail on the head that by design I think we (deliberately) don’t educate the population which in my view is so we can be exploited… but we make it some much worse as a nation with a poor man mentality when you look at the daily news on just surviving the latest economic shocks…

[@ryanjackson4597]

Martin is an extremely clever and savvy man… he is not warm and cuddly… he peddles basic information for people to save pennies… while he accumulates wealth.

[@RR-fk7xc]

LMAO, ARE U KIDDING ME. :D - he has helped millions save and invest and be more smarter about thier money. He does earn money as a presenter and in those presentations he is helping the lower class get on thier feet. Everyone is accumulating wealth. So what's your arguement?

[@ryanjackson4597]

@@RR-fk7xc yes he has helped people save pennies… but he does not talk about or encourage investing. He is a multimillionaire after selling his website. He encourages a mindset that keeps people poor.

[@RR-fk7xc]

@@ryanjackson4597 he hasn't just helped people save pennies. So many people in the UK look up to him as a trust worthy figure to help find deals and what to expect in the future. It sounds to me like your still being spoon fed. He gives valuable information and everyone utilises the info he gives. If you want someone who's going to give you cash for doing nothing then that's a you problem. He's a multi millionaire from setting up a business and profitting from it. So can you. So can anyone. Your only gripe is that he made a legitimate business lol. And how does he encourage a mindset that keeps people poor? Would be nice if you gave an example :)

[@ryanjackson4597]

@@RR-fk7xc I too am a millionaire and have done so through being “smart” with money. If I had done as he says and not as he has done I would be poor. Saving £3.00 on my energy bill is not going to make me wealthy. He detracts from the things that can make you money.

[@RR-fk7xc]

@@ryanjackson4597 looks like millionaires can lack intellect too then. Martin doesn't have advice catering for peopleto become millionaires. Can't believe I had to spell this out. Free drinks at Gregg's and Tesco club card deals are for helping trying to get by. His advice helps people either get on their feet or stretch their pounds. Most people don't want to become millionaires or extremely wealthy. They want tiny changes that make a big difference which is what he provides

[@neilwatkins8186]

I think the issue is that investing in the stock market is seen to be very risky. The lack of education around the risk of not investing and just saving and the effects of inflation are sadly lacking.

[@TobyNewbatt]

Loved this mate really interesting

[@discopot]

I would agree to a certain extent, I would love to see a show on how to build a side Hussle, or how to house hack. Even some sort of panel show where people buy stocks each week and they explain why. But regarding investments there are lots of shows home investments such as homes under the hammer. But a very good point about Martin Lewis

[@nickjm4108]

Yeah Stuart - I'd love to see this.... I don't think I'm good looking enough for TV though sadly...

[@discopot]

@@nickjm4108 if you can talk on KZbin you can get on tv

[@petearmstrong2778]

Need to start with the education system. Personal finance gets mentioned as missing from the curriculum but not sure of the progress in schools. It would be of more value to everyone than Latin or some other obscure course. Secondly, UK TV is awful for this kind of subject It thrives on sensationalism and 3rd-grade celebrities not real programs that would help people. Not commercial stations would fund it as I guess viewership would be quite low until it gains traction.

[@RichardHowells1234]

Martin and Bez and This Morning

[@cacolborn]

Nick, you should make the show!

[@nickjm4108]

😂 not sure how I’d fit that in!

[@mattlm64]

We really don't want CNBC over here. Investing shouldn't be sensationalist.

[@legoledgend]

Great video, absolutely correct!

[@adventuresofanathan]

The only thing I think comes closest to investing with Martin Lewis is the LISA and pensions... its funny cos he won't say to invest in stocks but guess where your pension goes???

[@nickjm4108]

True!

[@theeyewearrooms4128]

like you Nick I invest in Index funds... I have a healthy portfolio and am well on my way to financial freedom! Although the years are getting on. The problem i see with today's society are two fold, firstly everyone wants to make a quick buck and we both know that investing is all about time, discipline, compound interest and keeping your emotions in check, and secondly our parents grew up on "Money is the root of all evil" and "Money doesn't grow on trees" or the best one was "Look after the pennies and the pounds will look after themselves". I know so many people who ask me about investing in the stock market and It astounds me how very intellectual people who have high profile jobs haven't got a clue what to do! Love the channel mate!

[@nickjm4108]

Hey Buddy! Completely agree, I think there’s a lot to be said that technology is driving a short term mind set. Lots of quick hits of dopamine lends itself to short trek speculative investing rather than long term compounding. Appreciate the support!

[@theeyewearrooms4128]

@@nickjm4108 if you ever want a quick chat about Vanguard I’m happy to help… I work my portfolio slightly different to you and I have a great idea for a video you could do on buying into index funds…

[@nickjm4108]

@@theeyewearrooms4128 feel free to DM on Instagram 🤗

[@squibys2262]

Have to agree here, money saving for the sake of it is doesnt bring much benefit especially during these low interest rate times. I could cry at how much will be wiped away in inflation this year alone.

[@ChristosFellas]

I think someone what the voice Martin has should promote investing more. All I see is how to save money which I know is his brand… But we all know he’s piling his money into investments so why not disclose that more.. Maybe I’m missing those videos, anyways Great video pal and I guess that’s why we make this content!

[@IainGeddes]

It’s probably thought of as too much risk. Like Nick mentioned, he has a hugely successful brand and if it ain’t broken then don’t fix (or attempt to fix) it!? 🤷‍♂️ The potential backlash from people taking investment information from him and managing to mess it up on their own (since so many can’t control their emotions - especially in finance!) is probably not worth considering? But yes, it’s a shame! 😞

[@whizzalloverthecity]

The reason why there isn't programming on investing on UK TV is simple... In the UK, financial advice is a paid for service. It's personally tailored to an individual's circumstances. The person who gives that advice is qualified and registered. So they are responsible if those investments go bad or are unsuitable for a client, e.g. endowment mortgages, PPI etc. Because there are these factors of qualification, that not all investments suit everyone and legal responsibility for advice given, all that's left to make programmes on is how you can save money. KZbin is brimming with people giving financial advice simply because anyone can say anything without recourse. US media is essentially the same... remember Fox News's legal defence for Tucker Carlson. Basically so much content... all meaningless. Sorry don't mean to come across so negative. But it's really important financial education is done responsibly, in a way which actually benefits people and isn't just done for clicks.

[@nickjm4108]

I see where you are coming from but there surely has to be a balance of access? Why few people are able to see a financial advisor as either they are too expensive for them or they haven't got the financial assests to warrant one wanting to see for free. I also think there's a massive difference between giving someone advice on what to invest in to and generally educating on the different types of assets types and other relevant areas. It's a tough one!

[@vincentcoole7179]

Fantastic video Nick and an important message to get across. Here’s hoping you get your own tv show 🤞

[@nickjm4108]

Haha - when pigs can fly!

[@katehillier1027]

I have diversified my frugals. Many types of frugals. KZbin has some interesting types and ML has cottoned onto it. Plus he is too preoccupied with two point four.60 percent of us are divorced single parties for one.

[@DnBclassictunes]

Lewis helps me feel more miserable well he benefits with his views on here

[@lewisbrown51]

Well done ya dumplin... that was a good valid video! 👏 👍

[@nickjm4108]

My best mate Lewis Brown! Cheers buddy

[@lewisbrown51]

@@nickjm4108 hahaha

[@Roerco]

Gotta start somewhere. really doing verbal backflips to be able to say you “don’t think money can buy happiness.”

[@johnsgyimah576]

👌👍👍👍👍👍👍👍👍👍👍

[@kamikazilucas]

the problem is he acts like he is helping so much but all he does is say really obvious shit about how to save money but when he could actually help like try and get the government to stop being corrupt he is like i dont like politics even though he has had mps on his show multiple times

[@genomicsANDeconomics]

Your analogy of saving as 'losing weight by only exercising' would be better if it was positioned as 'losing weight by stopping eating'. You'd lose weight, but would not be healthy. Also, TV has loads of shows about making money through property! Consequently, our property price growth has been huge over the last 40 years. This was indeed a thought provoking video though, a good critique on financial education in pop culture media.

[@RR-fk7xc]

So there is no problem with martin lewis? why did this title sound so evil lol

[@nickjm4108]

Welcome to the game of KZbin 🙌 it’s more the problem he represents

[@RR-fk7xc]

@@nickjm4108 but I don't like people framing my boi Martin Lewis like that :((

[@nickjm4108]

@@RR-fk7xc I’m sure Martin doesn’t mind with his £80m 😂

[@RR-fk7xc]

@@nickjm4108 come bro haha. If he is a money savings expert and he hasn't saved money, how is anyone going to trust his advice. Imagine a world where a money savings expert is giving advice when he isn't financially secure himself. He's worth above £100+ million btw. When is the last time you recall someone worth a lot of money giving anywhere close to the amount of advice and insight he is giving. Also a lot of his money came from his website MSE. When you mention his 80 million, I can only see jealousy becuase there's nothing wrong with such a helpful man having so much money.

[@nickjm4108]

@@RR-fk7xc I think you’ve misinterpreted what I’m saying. I’m saying he’s going to care very little about my KZbin title. Not jealousy at all, he’s doing a great job and deserves it 👍 to put it bluntly though, saving hasn’t got him to where he is today (well aware that he got £80m for MSE)

[@katehillier1027]

Martin Lewis is a cuddly capitalist with a ruthless exterior. His wife promotes surveillance capitalism with all his nightmares and methods used are opposed to any decent earning pittance paid to do surveys.