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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[LittlePinkPiggy]

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.

[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.

[beastman.]

Martin Lewis needs his own YouTube channel .

[richardkilley]

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.

[milly]

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.

[Evie]

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

[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 😊

[Ontheedgeofglory]

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

[ladylocust]

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.

[LisaWilliams-dnzz]

Thank you so much for this helpful information

[amandahunter]

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.

[moneyAndSavings]

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

[jaynewilliams]

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

[mikedennington]

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.

[Americanpatriot]

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

[petercollins]

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.

[jhwwqxe]

Force the banks to pay base rate on savings rates

[alastairdickson]

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.

[flicchick]

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

[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...