Money Mensch

Money mensch: How to save your savings

By Martin Lewis, November 20, 2008

Everyone, urgently review your savings! Sadly we must now consider the ‘risks' of saving: once it only applied to investing. Yet for the first time we've seen the Financial Services Compensation Scheme activated (for Icesave), so it is crucial everyone checks their savings.

What's happened so far?
The Chancellor has repeatedly said he will do all he can to protect UK savers. We've seen it with Northern Rock, Bradford & Bingley and, last month, we saw it with Icelandic institutions Icesave and Kaupthing Edge.


Money mensch: Now’s the time to get a cashback credit card

By Martin Lewis, November 13, 2008

Cashback credit cards pay you back a proportion of what you spend on them each time they're used.


Money mensch: Smart moves to boost your ISA

By Martin Lewis, November 6, 2008

Anyone with old cash ISAs can now boost the rate of interest they receive on them by a mammoth amount, thanks to banks competing to win your savings.

Everyone has the right to transfer an existing cash ISA to another provider, but the problem is that most people do not realise it.

Many leave their products untouched and unmonitored for years, sitting at whatever interest rate they are being paid. This can leave them languishing in the doldrums of the best-buy tables.

Today is the day to put a stop to that.


Money mensch: How to cut the cost of sending text messages

By Martin Lewis, October 30, 2008

Texting is a bit of a con. If you want to send just 160 characters via old-fashioned texting, it can cost ten pence or more.

But, there is a way to slice this cost right down. It's done by using your phone's mobile internet to send text messages - not to mention emails, pictures, videos and music - rather than its text facility.

Of course, this is not as cheap as completely free texts you may get as part of your phone package.So, if you've got those, use them up first.


Money mensch: Save thousands on your food bill

By Martin Lewis, October 23, 2008

Brits are facing a kitchen nightmare. Mammoth food-price inflation means the annual cost of feeding your family has increased by £750 in the past year and no end is in sight.

Yet, if you know what you're doing, it is possible to save thousands of pounds annually.

Just remember that a supermarket is a cathedral of consumerism.

Everything about the place is designed to improve its profitability by targeting our impulse to spend more money and buy more food.


Warning students against debt may be more dangerous than you think

By Martin Lewis, October 10, 2008

This is a stark warning to parents and grandparents. If you're one of those people who proudly tell your student offspring: "Don't get into debt, don't borrow a penny," then I want to wag my finger at you. It's possible that doing this will make things worse.

In an age where almost half the country's school-leavers go to university, this sort of well-meaning advice could pose huge problems to their long-term prospects. Some of you may deem this controversial, but I refuse to apologise.


Money Mensch: A warning about paper tax returns

By Martin Lewis, October 3, 2008

Bad news for those completing a paper tax return. The deadlines have changed. Last year, you had to get it in by January 31 to avoid a fine. This year it's October 31 - three months earlier. If you don't manage it by that time, you will be fined £100.


Money Mensch: Are you missing out on childcare tax credit?

By Martin Lewis, September 19, 2008

A quick boost for your childcare budget. If you or someone in your family pays for childcare, there is a chance you're missing out on a significant government entitlement.


Money Mensch: Get the best mobile deal

By Martin Lewis, September 12, 2008

The way to get the cheapest deal on your mobile phone is to wait until just before your contract is due to end.

Call your network provider and haggle hard to get a better tariff. If they won't give you one, threaten to leave and they will put you through to a department they tell us is called "customer disconnections" - but is known internally as customer retentions. They have a much greater discretion to keep you and will often allow your haggling to work.