Martin Lewis warns 'act today' to save £1,000s - from water to broadband
Martin Lewis is urging Brits to stop “ripping themselves off” and take action now to lower their bills.
The MoneySavingExpert.com founder said price rises are “pushing many to the brink” in a warning published in the latest MSE weekly email.
But he warned many people are “unnecessarily haemorrhaging money” by not bothering to take the time to slash their outgoings.
Martin highlighted six key areas where you could save or make money now: water bills, mobile, broadband, food, petrol and savings rates.
He said: "The truth is many people are ripping themselves off by inaction - sticking loyally with providers or the status quo - without realising that they're unnecessarily haemorrhaging money by doing so.
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"So this is my call to self-arm with facts and tools to slash your bills, if you haven't already.”
Here are some of the tips highlighted in the latest MSE email.
Water bills: If you have more or the same number of bedrooms in your home than people, then Martin explained you may be able to save money by getting a water meter.
If you can’t have a water meter installed, you may want to ask for an assessed charge to save instead.
Martin also highlighted cheaper social tariffs for households claiming Universal Credit and other benefits, plus capped bills under the WaterSure scheme.
Finally, see if you can claim free water-saving gadgets through Save Water Save Money.
Mobile: The cheapest deals are typically SIM-only, explained Martin.
This means if you already have a mobile device that you’ve paid for and you’re out of contract, getting just a SIM deal could save you cash.
Use a comparison website such as Uswitch.com and Compare the Market to check the latest deals.
If you are switching network providers but want to keep your existing number, text “PAC”' to 65075.
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Broadband: If you're out of contract with your existing provider, compare prices now to find cheaper deals.
If you do find a better deal, you can either move to the new provider or try haggle down your existing firm.
Households claiming certain benefits may be entitled to cheaper social tariffs, which could save money compared to mainstream deals.
Food: Martin rounded up an array of ways to save money in the supermarkets - including making the most of coupons and comparing prices.
MSE has a list of the latest discount codes, and comparison website Trolley.co.uk lets you check prices online.
Finally, Martin recommended trying the downshift challenge, which is where you swap out branded goods for supermarket own-brands.
Petrol: Compare fuel prices near where you live through PetrolPrices.com.
You can also save money by make your car more fuel-efficient, for example, by keeping your tyres properly inflated, taking the roof rack off and emptying your boot.
Driving more efficiently can also help - such as going easy on the accelerator and slowing down more slowly.
Savings rates: Many savers are still leaving their money languishing in accounts that pay just 1%.
The top-paying easy-access rate is 4.35% by Family Building Society but you are limited to withdrawing and depositing a minimum of £100.
For the best-paying account without restrictions, Chip pays 4.26%.
If you can afford to lock your money away, Investec currently pays 6% for a one-year fixed account.
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