The Martin Lewis money show featured a host of advice on a variety of issues.
The Money Saving Expert founder looked at issues including the £200 energy scheme, changes to Royal Mail stamps and student loans in the February 11 show.
He also revealed some tips and bargains including Odeon cinema tickets and an easy £150 for switching banks.
How to get £150 for free
Martin Lewis explained how people can get £150 paid directly into their bank accounts simply by switching their current account provider.
Martin told viewers: “It’s about more banks willing to pay newbies to switch to them.
“The top for service bank First Direct was giving the £130, it’s now giving £150, it’s got a 0% overdraft up to £250.
“RBS Reward also pays £150. With that you pay a £2 a month fee but as long as you fulfill its eligibility criteria - you need to check that for First Direct too - you get paid £1250 a month into it, you move your direct debits and you use its app, it will pay you back £5 a month, which is a £36 a year gain on top of the £150.
“Exactly the same as its sister bank Natwest that already had this deal.”
Royal Mail stamps changes
People in the UK will only have until January 31 2023 to use any existing Royal Mail first and second class stamps they may have.
But Royal Mail will let you ‘swap out’ these stamps for free.
You will be able to exchange current stamps for barcoded ones for free under Royal Mail’s new ‘Swap Out’ scheme, which opens on March 31, 2022 and will run until March 31, 2023.
This will be via a ‘Swap Out’ form on the Royal Mail website - you’ll then have to post the no longer valid stamps back.
Martin Lewis, founder of MoneySavingExpert, warned people to use their stamps up to avoid being left out of pocket.
He said: “For years, every time stamps go up in price I’ve suggested people stock up and bulk-buy in advance; as provided the stamp doesn’t have a price on it and instead just says the postage class, it’s still valid after the hike. This has been an effective tactic, as a first class letter stamp is now 85p - a decade ago it was just 60p.
“So this change will come as a shock to the many stamp hoarders out there. It’s the first time I can remember you’ve not been able to just lick it and stick it. And we don’t yet know if you’ll still be able to swap the stamps after March 2023, so this is a call to arms (or tongues) to ensure you either use ‘em or swap ‘em.”
The rule change is because Royal Mail is moving to a more secure barcode system, which those stamps don’t have on them.
Royal Mail says the barcode on the new stamps will provide “additional security features” that will support its efforts to improve the safety of the post it handles.
Each barcode will have a “digital twin” that can be connected using the Royal Mail app, although the barcodes will not allow users to track their post.
Cheap cinema tickets
Martin Lewis highlighted Cinema tickets currently on offer via the Groupon website
He said: “Five Odeon any day tickets £25 or £11 for 2 via groupon
“Pretty simple - any 2D movie until the first of March - you don’t have to use them all in one go you can used them for multiple visits.”
To see the offer click here.
Warning over £200 energy ‘rebate’ scheme
Martin Lewis has repeated a warning that the compulsory £200 energy scheme championed by Chancellor Rishi Sunak is a “risky gamble” if prices do not fall next year.
A large portion of the money expert’s ITV show on Thursday was devoted to the issue, with Martin claiming he wanted to “clear up the mass of misunderstandings” around the country.
It comes after he said he was “swamped with questions” on social media about the “loan not loan.”
As reported by Wales Online, Mr Lewis said: “Okay so let’s talk about the energy loan not loan.
“There are two big things you need to understand first. In October 2022 every electricity bill will be cut by a flat £200, if you’re on pre-pay it’ll be paid through your smart meter or voucher.
“Then from the following April every electricity bill will be upped by £40 a year for five years.
“But this is effectively a big gamble from the Chancellor that prices will drop substantially next April. I think that’s a risky gamble if you ask me, certainly with the potential conflict with Russia and Ukraine, that is not a given.
“If you have £40 added to bills higher or at the same level that is a bad gamble.
“I accept this feels like a loan but in practice it isn’t, it’s an electricity levy.
“It is not a loan, it is not linked to people or linked to homes, it is not on your credit file. You cannot opt out.”
Student loans
The show highlighted how students will be penalised by the government freezing the threshold on repaying student loans this year.
Mr Lewis said: “Everyone on plan 2 loans who repays will repay more this year.
“Here’s why. The current threshold is you pay nine per cent of everything you earn above £27,295 a year.
“We were set to see in April this would rise by average earnings by 4.6 per cent which would have meant you pay nine per cent of everything you earn above £28.950 but the government froze what you pay at the current threshold of £27,295.”
