Martin Lewis has shared how to drastically cut down on bills as he bid people to act today to save thousands.
The founder of Money Saving Expert took to the website's latest newsletter to issue a spirited call to action on Tuesday. Rather than waiting for politicians to fix the dire financial climate, the expert shared how to get savvy and "stop ripping yourself off".
As difficult as the cost of living crisis is in our lives, Martin says many people are "unnecessarily haemorrhaging money" by not fighting back. The policy expert went on to explain how to get savings out of mobile, broadband, food and petrol.
Saving on mobile phone bills
Martin wrote: "'Stop ripping yourself off! Don't hold your breath for politicians to fix owt. Take action today to slash £1,000s off bills'"
The moneysaving tips and tricks kicked off with water bills which are included in Scottish council tax. For Scotish savers, the first bit of handy advice pertained to mobile bills.
Martin bid people not to get complacent with their current provider, writing: "Loyal MOBILE users are 'rewarded' with 17% mid-contract hikes, yet switchers' prices plummet to record lows (100GB data '£8/mth')."
The expert went on to explain how this was possible - mobile firms increased bills for people with contracts often by four percent above inflation, meaning 17 percent total - an "outrageous" move.
"Many are paying four or five times more than needed," he wrote. The best thing to do, Martin says, is to shop around for a cheap new Sim card only deal, like a £3.45 deal from Lebara, £4.20 deal from Talk Mobile, and £7.84 deal from iD Mobile.
Broadband
Internet providers similarly hiked prices by up to 14 percent in April. Martin says an estimated seven million people are out of contract and free to leave and pay less.
Switching is easy if your contract has come to an end, but the Money Saving Expert founder says telling your existing provider you're leaving might make them give you a better offer.
Martin recommended the cheapest deals - fibre for £19.38 monthly from Shell Energy, 'good service' fibre for £21.21 monthly from Vodaphone, and superfast fibre for £22.06 monthly from Virgin.
Savings
Martin writes: "The big issue is big banks haven't put savings up by as much as mortgages."
Savers can ditch their banks for not passing on increased interest rates, opting for four to five percent rates from banks like Family BS, Sainsbury's Bank and SmartSave.
Food
Whilst wholesale prices have fallen, supermarkets aren't passing on savings to shoppers - a matter being investigated by the Government regulator and MPs.
Martin shared some key shopping tips:
- Nabbing supermarket discount coupons off Money Saving Expert's website
Using a supermarket comparison tool that finds the cheapest supermarket for your items like Trolley
Taking advantage of discount codes for big reductions on your first online shop
Doing the 'Downshift challenge' - going down one brand level on everything
Buying beyond-best-before items at huge discounts
Check out all the money saving methods on the MSE website.
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