Latest news with #MartinLewisPodcast
Glasgow Times
25-06-2025
- Business
- Glasgow Times
NS&I Premium Bonds: Prize fund rate to be cut in August
The prize fund rate will reduce to 3.60% from the August draw, down from 3.80%. The odds of winning will remain the same, at 22,000 to one. The changes mean there will be an estimated 75 prizes of £100,000 in August, down from 79 in June. The estimated number of £50,000 prizes will reduce to 151 in August, from 159 in June. Meanwhile the estimated number of £25,000 prizes will fall to 302 in August, from 317 in June. There will be an estimated 754 prizes at £10,000 in August, down from 792 in June. The estimated number of £1 million prizes will remain the same, at two. The number of £25 prizes is set to increase in August, with an estimated 2,569,568 available, up from 2,197,831 in June. NS&I, which is backed by the Treasury, has a duty to balance the interests of savers, taxpayers, and the broader financial services sector. Andrew Westhead, NS&I retail director, said the adjustment to the prize fund rate 'reflects the changing landscape for savings'. He added: 'The August draw is expected to deliver more than six million tax-free prizes worth over £396 million.' Sarah Coles, head of personal finance at Hargreaves Lansdown, said: 'The writing has been on the wall for Premium Bond prizes ever since the Bank of England cut interest rates in May. 'The most competitive easy access savings rates have held up impressively, but the market has been inching gradually south.' She added: 'The question for many savers is whether this will be the last time the rate falls. 'On the one hand, NS&I's fundraising target has risen slightly to £12 billion. 'On the other, at a time when the Bank of England is expected to make two more rate cuts before the end of the year, there's a decent chance that savings rates will continue to gradually edge lower.' Laura Suter, director of personal finance at AJ Bell, said: 'The top easy access account on the market pays 5% interest.' She added: 'Savers with money in Premium Bonds should really think about whether the account is right for them. 'Considering many Premium Bond holders will never win a prize and the average expected return is lower than the top easy access account, savers could well be better off with a guaranteed return elsewhere.' Martin Lewis NS&I Premium Bonds 'urban myth' warning Martin Lewis has called out a 'complete urban myth' around NS&I Premium Bonds. The Money Saving Expert discussed the popular form of savings during his Martin Lewis Podcast on BBC Sounds. National Savings and Investments (NS&I) Premium Bonds allow investors to buy bonds, with a minimum of £25, and have the chance of winning money in return. With a max prize of £1 million, many use Premium Bonds accounts as a way to save money whilst being in with a chance to earn. (Image: Kirsty O'Connor/PA Wire) Mr Lewis explained that money placed in Premium Bonds was 'as safe as it gets' because they are 'backed up' by the Government. He said: 'Every penny you've got in there is backed up by the government. The only way you could have a problem is if the government went bust - then we'd all have bigger problems. 'In other words, you're always at worst going to get your money back. 'Each individual bond goes into a prize draw and has a chance of winning an amount of money, from £25 up to a million pounds. And that's what dictates the interest that you get. So your interest is a gamble, but your money is totally safe." He then exposed a commonly believed myth among people who invest in Premium Bonds. Mr Lewis said: '"I often get asked, I've had my premium bonds a long time but haven't won anything, will I be better off buying new bonds because they seem to win more? Complete urban myth. 'Every bond has the same chance of winning in the prize draw as every other bond. The reason more new bonds win is because there are more new bonds. 'When people were buying these bonds in the 1960s and 1970s, they were buying £1, £10, £20 worth. Now people are buying £500, £1,000, £10,000 worth. 'So, there are just simply more new bonds, so more new bonds win more often. That tends to just be a fiction as people in those areas have more premium bonds."
South Wales Argus
24-06-2025
- Business
- South Wales Argus
NS&I Premium Bonds: Prize fund rate to be cut in August
The prize fund rate will reduce to 3.60% from the August draw, down from 3.80%. The odds of winning will remain the same, at 22,000 to one. The changes mean there will be an estimated 75 prizes of £100,000 in August, down from 79 in June. The estimated number of £50,000 prizes will reduce to 151 in August, from 159 in June. Meanwhile the estimated number of £25,000 prizes will fall to 302 in August, from 317 in June. There will be an estimated 754 prizes at £10,000 in August, down from 792 in June. The estimated number of £1 million prizes will remain the same, at two. The number of £25 prizes is set to increase in August, with an estimated 2,569,568 available, up from 2,197,831 in June. NS&I, which is backed by the Treasury, has a duty to balance the interests of savers, taxpayers, and the broader financial services sector. Andrew Westhead, NS&I retail director, said the adjustment to the prize fund rate 'reflects the changing landscape for savings'. He added: 'The August draw is expected to deliver more than six million tax-free prizes worth over £396 million.' Sarah Coles, head of personal finance at Hargreaves Lansdown, said: 'The writing has been on the wall for Premium Bond prizes ever since the Bank of England cut interest rates in May. 'The most competitive easy access savings rates have held up impressively, but the market has been inching gradually south.' She added: 'The question for many savers is whether this will be the last time the rate falls. 'On the one hand, NS&I's fundraising target has risen slightly to £12 billion. 'On the other, at a time when the Bank of England is expected to make two more rate cuts before the end of the year, there's a decent chance that savings rates will continue to gradually edge lower.' Laura Suter, director of personal finance at AJ Bell, said: 'The top easy access account on the market pays 5% interest.' She added: 'Savers with money in Premium Bonds should really think about whether the account is right for them. 'Considering many Premium Bond holders will never win a prize and the average expected return is lower than the top easy access account, savers could well be better off with a guaranteed return elsewhere.' Martin Lewis NS&I Premium Bonds 'urban myth' warning Martin Lewis has called out a 'complete urban myth' around NS&I Premium Bonds. The Money Saving Expert discussed the popular form of savings during his Martin Lewis Podcast on BBC Sounds. National Savings and Investments (NS&I) Premium Bonds allow investors to buy bonds, with a minimum of £25, and have the chance of winning money in return. With a max prize of £1 million, many use Premium Bonds accounts as a way to save money whilst being in with a chance to earn. (Image: Kirsty O'Connor/PA Wire) Mr Lewis explained that money placed in Premium Bonds was 'as safe as it gets' because they are 'backed up' by the Government. He said: 'Every penny you've got in there is backed up by the government. The only way you could have a problem is if the government went bust - then we'd all have bigger problems. 'In other words, you're always at worst going to get your money back. 'Each individual bond goes into a prize draw and has a chance of winning an amount of money, from £25 up to a million pounds. And that's what dictates the interest that you get. So your interest is a gamble, but your money is totally safe." He then exposed a commonly believed myth among people who invest in Premium Bonds. Mr Lewis said: '"I often get asked, I've had my premium bonds a long time but haven't won anything, will I be better off buying new bonds because they seem to win more? Complete urban myth. 'Every bond has the same chance of winning in the prize draw as every other bond. The reason more new bonds win is because there are more new bonds. 'When people were buying these bonds in the 1960s and 1970s, they were buying £1, £10, £20 worth. Now people are buying £500, £1,000, £10,000 worth. 'So, there are just simply more new bonds, so more new bonds win more often. That tends to just be a fiction as people in those areas have more premium bonds."
Daily Mirror
12-05-2025
- Health
- Daily Mirror
Martin Lewis' warning to Brit holidaymakers over common luggage item
Sunscreen applied to the skin are designed to protect people from the sun's harmful ultraviolet (UV) rays. UV rays are harmful because they can damage skin cells, leading to sunburn, premature aging, and an increased risk of skin cancer Martin Lewis has urged holidaymakers to check their sunscreen bottles before heading away. The money -saving expert has turned his wisdom towards the world of travel cosmetics, offering a tip that could protect tourists' health this summer. Speaking on his Martin Lewis Podcast, he asked listeners if they knew whether or not their sun cream bottles were in date. While it may seem like a product that can sit at the back of a cupboard indefinitely without going off, that is not the case. Sun cream products have a shelf life, and they can become much less useful if they are out of date. Sunscreen applied to the skin is designed to protect people from the sun's harmful ultraviolet (UV) rays. UV rays are harmful because they can damage skin cells, leading to sunburn, premature aging, and an increased risk of skin cancer. They can also cause eye damage, including cataracts and macular degeneration. Additionally, UV rays can suppress the immune system. Martin explained to his listeners why it's worth checking their sun cream bottles and consider throwing them away if they're out of date. "Just a quick tip on sunscreen. When you get your sunscreen, turn the bottle around because on the back you'll see a POA number," he said. POA stands for 'period after opening' and is typically 12 or 24 months. "[When you open the bottle] Put a little note of the date, write that onto the sunscreen and you'll know if you try to use it in a year's time whether it's still valid or not," Martin advised. Like most cosmetics, the ingredients in sunscreen degrade over time and become less effective once they do. Ron Robinson, cosmetic chemist and CEO of BeautyStat, told Vogue that most sun creams are formulated to last up to three years if unopened and stored in a cool, dry environment that is not in direct sunlight. Generally speaking, powdered sunscreen contains minerals that are more stable and longer-lasting, while liquid formulas will be less stable. According to Ron you might get lucky - some sunscreens can last longer than others. If the bottle is stored in a cool, dry place and shows no visible signs of degradation, it may still offer some protection. However, it is always best to use products that are within date.
The Independent
25-04-2025
- Business
- The Independent
Martin Lewis explains how you could be owed hundreds of pounds back on your energy bill
Martin Lewis has explained how you could be owed hundreds of pounds back on your energy bill. The Money Saving Expert founder has revealed how energy firms are said to be sitting on £3 billion of cash in direct debit credit. The financial guru has urged people to check their account to see if they are owed money now. Speaking on the Martin Lewis Podcast on BBC Sounds, he said: 'In May, you should be at your lowers point of credit possible. 'Check your account and if you are owed a lot, you should have it in your pocket. 'If it is over £200 or 300 I would be asking for the money back.'
