Martin Lewis has shared a quick tip that not only 'likely' got him his first television series but can also save 'most' people hundreds of pounds. The Money Saving Expert founder has appeared on TV shows for decades, starting on the satellite channel Simply Money in the late 1990s.
His current programme, ITV's Martin Lewis Money Show, which has run since 2012, is UK television's most-watched current affairs series where he regularly shares ways to help people with their finances. But he also gives advice through his Martin Lewis podcast and the Money Saving Expert website which is packed with tips.
The 'party trick' that started it all
In the latest newsletter he shared a "party trick" from his early days. He said: "Give me your (digital) wallet or purse for five minutes and I can usually save most £100s!" Explaining he said: "This was my party trick in the early noughties.
"In fact, I think I likely got my first TV series in 2005 when the production company boss suggested the ITV commissioner hand over his wallet for me to do it on. These days, for many, the wallet is now a phone or even a watch - but savings are still possible, and often even bigger."
17 ways to save money
He went on to set out 17 ways to save. This is what he said:
Check photo driving licence - He advised people to check SECTION 4B of their driving licence explaining: "Photo licences only last 10 years. You should get a notification before it expires, but many don't notice - and over two million are estimated to be out of date. If so, and you get stopped, you risk a fine."
Debit card - You can get paid £220 to switch to new debit card. He said: "Debit cards are just the front end of a bank account. If you've had the same one for years (unless it makes you feel special), now's the perfect time to get paid to ditch and switch to a new-customer offer, as the choice is huge." He advised people to check best-buys, pros and cons, eligibility criteria and Q&A in its Top free cash bank accounts, but suggested "the main runners and riders".
HSBC - FREE £220. It rarely does this. Available if you haven't had HSBC or First Direct accounts since 1 Jan 23.
Barclays - FREE £200, plus optional half-price Apple TV.
NatWest - FREE £200 on its Reward Account and possible £3/mth cashback.
Santander Edge - FREE £180 & top (joint) bills account. You pay £3/mth but get 1% cashback on bills.
First Direct - FREE £175 & top-rated for service. 92% rate it 'great'. Interest-free £250 overdraft for many.
London travellers - People who travel in London could be owed a share of £500m in unclaimed Oyster or contactless card credit? There might be money for people who paid with Oyster or contactless and failed to touch their card at the end of the journey or were delayed 15 mins by Tube. Use the site's Oyster & TfL contactless reclaiming guide.
Credit card interest - Anyone paying interest on credit cards can take a "two-minute test" to see if they can switch to interest-free. Take the test using MSE 0% Balance Transfer Eligibility Calculator which will show any 0% deals you are most likely to be accepted for without impacting your ability to get future credit.
Earn with a credit card - For those without a credit card getting one can earn money - but "don't borrow on it". MSE advised: "When we spend on credit cards, the retailer pays the card firm a fee, and there's a way to get some of this back in your pocket, plus extra Section 75 protection too." But it warned you must pay the card in full every month to avoid interest, adding: "Only do this if you trust yourself not to be tempted to borrow on it". Some cards, such as the Lloyds Ultra credit card pays 1% uncapped cashback worldwide for a year which can earn £100 if £10,000 is spent over a year. Others have different perks such as new customers opening the Santander Rewards credit card, who add it to their digital wallet and spend on the physical or virtual card 10+ times in month one get sent a £20 Uber voucher within 60 days and another 30 days after claiming the first, as long as you've kept the card. The card also pays a year's 3% cashback among other benefits however if you fail to pay off in full you'll be charged 24.9% rep APR. It added: "With all these cards as well as paying off in full, make sure you don't bust your credit limit and don't withdraw cash."
Coupons - MSE has 30+ digital coupons, including 'free' frankfurters, cat food & more on its regularly updated 30+ coupons guide.
Debit card debt - If you are overdrawn, MSE advises debit cards are worse than credit cards as the interest is "typically nearly double that of a credit card, the average being 40%". Ways to cut the cost includes switching to a bank which gives a 0% overdraft such as First Direct which pays accepted new customers £175 to switch, and gives many an ongoing £250 0% overdraft. It says: "So if you've an overdraft of £425 or less, the £175 clears some and the rest is interest-free." Alternatively move it to a 0% credit card or treat overdraft borrowing like a debt and try to repay a set amount each month.
Blue Light discount - The £5 Blue Light card gives discounts to emergency service, NHS, care worker or teachers at dozens of shops and restaurants such as 20% off at Pizza Express and 10% off at the Range.
Free drinks - Add a free coffee (or tea) pass to your wallet. Just sign up to the Waitrose loyalty scheme, then all you need do is bring your own cup and swipe your card at the machine - you can do it once per day. MSE says there are other free tea & coffee deals too.
Photograph - Martin said: "Do you have my picture in your purse or wallet? Some people do; they tell me they have it there as a form of fiscal contraception to remind them to stop spending." Alternatively the site has designed free money mantras printouts instead.
Contraception - Check any condoms you have are still in date - if not get a replacement through the NHS England free condom search, and there's info for Wales & Northern Ireland too. In Scotland, different in each area so check via the web.
Spending protection - The Section 75 law means buying something which costs from £100.01 to £30,000 and pay for any of it, even a penny, on a credit card, and the card firm's jointly liable with the retailer for the whole amount. Martin said: "So for important purchases, put at least a little on a credit card (paid IN FULL at the month end to avoid interest)." Alternatively if you have paid on any other card, including debit cards, where Section 75 doesn't apply, there's another protection called chargeback. This is part of the Visa, Amex or Mastercard rules and means your bank can ask the seller's bank for money back if goods aren't received as they should be.
Donor card - In the UK you are automatically considered willing to be an organ donor unless you opt out. However having a card can make this easier for loved ones.
Spending abroad - Martin said you can get "near-perfect exchange rates" every time you spend anywhere. Usually if you spend on cards overseas you have to pay 3% on top of your spending. However there are now specialist overseas spending cards that don't do this.
European trip - Make sure you have a valid EHIC/GHIC card that gives you access to state-run hospitals or GPs for the same price as a local, so if they don't pay, you don't either.
Cash - Make sure you are getting the best exchange rate if you are wanting to take foreign currency. You can do this using TravelMoneyMax comparison tool which compares bureaux, factoring in all rates & costs to find your best. Martin added: "It won't beat the top plastic, but it's far better than getting it at the airport - terrible rates."
Travel insurance - For anyone going on holiday Martin Lewis shared MSE's new Compare+ Travel Insurance tool. This includes for those who are over-65 or who have pre-existing conditions.
