Latest news with #TheMartinLewisPodcast
Daily Mirror
2 days ago
- Business
- Daily Mirror
Martin Lewis recommends making one swap when paying by card on holiday
Martin Lewis shared a handy tip for holidaymakers who are keen to keep costs down when it comes to dining out abroad and it all comes down to how you pay Money Saving Expert Martin Lewis has shared a nifty tip for globetrotters seeking to pinch their pennies - particularly when dining or drinking out overseas, and it all comes down to your mode of payment. On his latest instalment of The Martin Lewis Podcast on BBC Sounds, the financial guru offered key advice for those opting to use cards. In an intriguing segment titled "Should you pay in Pounds or Euros on plastic abroad?" Martin reveals his insider knack for cutting costs. Encountering the option to pay in either the local currency or Great British Pounds at checkouts and ATMs is common, prompting a decision every traveller faces. Martin, however, asserts that there's indeed an optimal choice here. Martin advised: "Well the correct answer is you should always pay in Euros or whatever the local currency is, because that means it's your plastic that's doing the exchange rate conversion, not the overseas shop or ATM." For getting true bang for your buck, Martin suggests acquiring a specialised overseas debit or credit card that offers "near perfect exchange rate" - a savvy move for any thrifty traveller, reports the Express. He elaborated: "But even if you don't have one of those, then even your bog standard UK credit or debit card that's adding about a three per cent fee onto the exchange rate, in all the experiments I've done and when most people go abroad, they do a pub crawl, I do an ATM crawl to check these rates." Summing up his findings, he said: "In all the experiments I've done, even a bog standard UK card is beating most overseas ATMs, or shops exchange rates so you want it to do the conversion which means you must always pay in the local currency." His advice was clear: "Pay in Euros, pay in dollars, pay in Dong if you're in Vietnam." Martin Lewis and the team at Money Saving Expert have detailed a number of the best travel credit and debit cards available. Find more information, here.
Wales Online
25-06-2025
- Business
- Wales Online
Martin Lewis issues warning to Sky customers amid potential price hikes
Martin Lewis issues warning to Sky customers amid potential price hikes Martin Lewis has issued a warning to Sky customers over the 'legal way to leave' the network, with new Ofcom rules that mean you can exit a contract penalty-free Martin Lewis tells Sky customers to check for impending price hikes in his latest podcast episode (Image: inyourArea ) Money expert Martin Lewis is urging Sky customers to be alert for impending price hikes in their contracts, as these could give you a legal way to exit your contract early. Speaking on the latest episode of The Martin Lewis Podcast, Martin responded to a listener named Lee, who is stuck in a costly mobile phone contract with Sky. Lee asked: "How can I switch my mobile contract without it costing the earth? Sky only gives pennies for a phone if I send it back and charge so much to end the contract." Unpacking the new guidelines outlined by Ofcom this year, Martin explained that mobile and broadband companies are now obligated to clearly disclose any potential future price increases in their contracts at the outset. Yet, he pointed out, there's an escape clause for customers: if providers fail to do this upfront, they automatically grant customers the right to terminate their agreement within 30 days following any subsequent price increase—which aligns with Sky's current approach. Responding to Lee's concern, Martin said: "The key bit of that question is the last bit. Look, let's be blunt. You sign up for a contract, the contract is to provide you with a service for a set period of time, and you get a price that is marked to be over that set period of time and if you wanted to leave it early, unless they have put prices up.", reports the Express. Article continues below Martin Lewis clarified earlier comments regarding contract sign-ups, stating: "I said earlier that when you sign up for a new contract, they must tell you what the price rises are going to be during the contract period in advance. They don't always have to do that. The vast majority do, one of the firms that doesn't do that is Sky." He then highlighted a specific policy from Sky: "Sky doesn't tell you in advance, but then if it does increase your price mid-contract, it has to allow you to leave within 30 days penalty-free." The money-saving expert cautioned listeners: "So always watch out for your price hike on Sky and decide if you still want to be with it at that point, mobile and broadband that applies to." For money-saving tips, sign up to our Money newsletter here Martin further advised all consumers: "But in the case of you're still within a contract and you have early cancellation charges, unless you are no longer getting an adequate service - and even then it is quite difficult to do - then you still have to pay them the cancellation fee for leaving and getting out of your contract." He also suggested a practical first step: "And in most cases you may as well stay which is why my first step is to check if you're out of contract". Article continues below Listeners can still catch up with The Martin Lewis Podcast from June 19 on BBC Sounds, Spotify, and Apple Music.
Extra.ie
15-06-2025
- General
- Extra.ie
Air fryer lovers, beware: It could be costing you more than you think
Air fryer owners are being warned of the differences between using the counter-top gadget compared to an oven when it comes to cooking food. More households across the country probably have an air fryer now, with the gadget often used as the the perfect alternative to using an oven. Food takes less time in the air fryer, and you can cook pretty much whatever you want in one. Money expect Martin Lewis has weighed in on the huge craze of using air fryers, highlighting when it is the better option over an oven. Pic: ITV Money expect Martin Lewis has weighed in on the huge craze of using air fryers, highlighting when it is the better option over an oven. Speaking on his podcast, The Martin Lewis Podcast, the expert said: 'A microwave gives you consistent heat whereas an oven is warming up to full temperature and then topping it up so it isn't running at full power the whole time.' In terms of doing a number of jacket potatoes, Lewis explained that each additional item put into a microwave required additional time. Air fryer owners are being warned of the differences between using the counter-top gadget compared to an oven when it comes to cooking food. Pic: Shutterstock He added that in the case of cooking a single jacket potato the microwave or air fryer would be the better, 'cheaper' option. The 53-year-old noted that in order to figure out which of the three appliances was the best to cook things you needed to know the wattage and how much you are using, then multiply it by 34p per hour of use. 'The problem with the equation for heating equipment is an oven is going to be 2,000W,' Martin said, 'If you had a 1,000W microwave and you put it on for 10 minutes, one KWH for a sixth of an hour, a sixth of 34p is about 6p.' Martin's website, The Money Edit, added that it costs 21p to use an average oven and 13.6p to use an average 800W air fryer. The biggest factor, they pointed out, was the quantity of the food being cooked with smaller and simpler dishes likely cheapest in the microwave or air fryer.
Daily Mirror
09-06-2025
- Business
- Daily Mirror
Martin Lewis explains new ISA rule change for anyone with more than one account
Martin Lewis has explained how a change in the rules now means savers can take out several different cash ISAs or stocks and shares ISAs within the same tax year Money Saving Expert Martin Lewis has offered crucial guidance for individuals with more than one Cash ISA, in light of a recent change in government regulations. On the latest episode of The Martin Lewis podcast, the founder of MSE clarified to his listeners and co-host Adrian Chiles how Cash ISA rules now operate following a fiscal rule alteration in 2024. Previously, a long-standing rule restricted people to only one Cash ISA or Stocks and Shares ISA per year, but this has now been scrapped. This means savers can now utilise several different Cash ISAs and Stocks and Shares ISAs, including fixed-rate and easy access, all within the same tax year. During the July 5 episode of The Martin Lewis Podcast on BBC Sounds and Spotify, Martin Lewis explained: "Ever since ISAs were set up, there's been a limit on the amount of money you can have in, and you've been able to open a Cash ISA and a Stocks and Shares ISA in the same year. "But you've only been able to open one of each type. But, from April 6 2024, the rules were changed, and the restriction on subscribing to one ISA of each type, in a year, was removed. "You may now open as many different ISAs of one type, for example a Cash ISA, you can have a fix, and you can have two different Cash ISAs, all of which you've opened and put money into, within one tax year." There are whispers that changes to Cash ISAs could be imminent, after the government declined to dismiss a potential reduction to the limits in the future, reports the Express. Currently, savers can stash up to £20,000 into Cash ISAs within a single tax year, across various accounts. However, there's buzz that the government might slash this limit to as little as £4,000, potentially from 2026. This move could, insiders claim, nudge more Brits towards investing rather than hoarding cash in ISAs, with stocks and shares ISAs reportedly not facing the same cuts. Earlier in the year, money guru Martin weighed in on the potential changes, remarking: "The concept behind it is that it'd encourage people to put the money in shares ISAs instead (personally, I'm sceptical if it'd work - many will just keep saving but pay more tax). "Of course, everything is pure supposition - I doubt any firm decision has been made yet. But if it happens as rumoured, it WOULDN'T impact money already in cash ISAs, it'd just cut what you can put in, in future. "Whether it'd start immediately, or in January or April 2026, no one knows (including at this point, I suspect, Rachel Reeves). Yet if you plan to save in a cash ISA, all of this would suggest getting it in sooner would seem safer."
North Wales Live
09-05-2025
- Business
- North Wales Live
Martin Lewis issues warning to anyone with a savings account
Martin Lewis has issued a warning to millions with savings accounts, advising them to "check it now" as he anticipates a drop in interest rates in the coming "two to four weeks". This follows the Bank of England's decision to reduce the base rate from 4.5 per cent to 4.25 per cent. On the latest episode of The Martin Lewis Podcast, the money-saving expert cautioned that those with easy-access accounts could see their returns fall by about 0.25 percentage points soon, as financial institutions adjust to the lower base rate. Lewis encouraged his audience to seek out competitive fixed-rate deals currently around 5% and consider transferring their funds if they're prepared to commit for a set term, reports the Daily Record. He explained: "Variable rates savings, which are mainly easy access - the big ones people go for with an account where you can put your money in and take it out whenever you like - will likely drop within two to four weeks by around a quarter of a percent. "Some may drop it more than that because they don't have any promises and they might use a competitive advantage of rates dropping everywhere to shave their rates down, especially the big high street banks whose rates are already pants." The financial expert has warned of the impending "death of the 5 per cent savings rate" for those investing in cash ISAs, urging savers to act swiftly within the next two to four weeks to secure a better deal before rates decline. Lewis also highlighted that while banks and building societies are required to inform customers of any changes to their savings rates, these adjustments can be made quite rapidly. He said: "We're gonna see easy access rates both the ones being offered and your existing accounts coming down. For those considering a fixed-rate savings account, now is the time to act. "If you're looking to fix I would be fixing now, because when a base rate cut happens, while fixed rates get lowered, the way savings providers tend to operate with fixes they tend to offer a tranche." Explaining the process further, the Money Saving Expert founder said that a bank might introduce a set amount of savings at a specific rate, such as £5 million at 4.6 per cent, and once that cap is reached, they will reassess and potentially alter the fixed rates they offer. He added: "You may be able to get in now before the rate drops and they reassess based on the new information at a slightly higher fixed rate then you'll be able to get in a week or two's time." Martin emphasised the benefits of locking in a rate now, as it remains unaffected by future market fluctuations, making it the safest option for savers. Complete information on the latest savings rates for easy access, fixed rates and cash ISAs can be found on the website here.
