Martin Lewis

Martin’s Blog…

Hi, welcome to my Blog, while the site’s articles have all the key MoneySaving info; this is my space to muse on a wider collection of topics; life, money, being in the media and more. Feel free to read or ignore!


Martin Lewis, Money Saving Expert.

Archive for December, 2007

I’m very proud the MSG’s agreed to become the MSF


Monday December 31st, 2007

Just a little personal note. Over the Christmas period, I surprised the MSG by proposing via a Scrabble set on the top of Table Mountain at sunset (setting up the letters took a lot of pre-planning). And I’m more than delighted to say, she said yes and has become the MSF.

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P.S. Here’s the pic taken on my phone just afterwards

Martin & Lara

P.P.S. I know many people ask ‘who is the MSG?’ and my tradition is to answer ’she’s the MSG’. Yet in this case, it is relevant, so as a one off, my lovely fiancee’s name is Lara Lewington


New Crisp Flavour hits the spot…


Monday December 31st, 2007

After MoneySaving, crisps are a serious contender in my priorities list. Regulars will remember the favourite crisp flavours poll (which disgracefully saw MoneySavers favouring cheese and onion over the glory that is salt and vinegar) and my recent blog about trying to save tangy twiglets.

Well fellow crisp lovers; I have some exciting news for you. On my recent winter break, I discovered a new flavour that mingles the punch of S&V with the more mellow C&O.

These crisps are Lay’s Caribbean Onion & Balsamic Vinegar; a superb concoction that actually seems to have cracked the best of both worlds. Now of course I have imported a few packets to be tried at home; but it seems a shame that here; the home of real multi-flavour crisps they are tough to be found.

Now it’s worth noting at this point that Lay’s crisps are part of Pepsico; as are the UK’s own Walkers brand. Thus it seems not a great stretch that with a bit of lobbying we could bring such crisp heaven to the UK. On this page you’ll see you can submit a flavour to Walkers.

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Barclays adverts make me want to growl!


Monday December 17th, 2007

Have you seen the bright blue full page adverts in the press for Barclays products? They make me growl; I’m quite staggered that it has the chutzpah to do it.

Today’s advert:

“A GREAT HOME FOR YOUR SAVINGS

Day to day savings account 4.26% AER”

Can you believe it is advertising and boasting about a rate of just four and a quarter percent. How ridiculous when, as you’ll see from the top Savings Accounts article you can easily earn 6.5% elsewhere!

Then there was its ad last month (which I don’t have a copy of, but said something like, “switch to our great loan rate and get £50”. This in many ways is worse, even though at the time Barclays loan rate was close, although not quite as cheap a loan as possible (see Cheapest Loans if you’re interested). Yet switching a loan is not simply a case of finding a cheaper rate and moving to it; there are penalties for switching a loan and so actually it means you can move to a cheaper loan rate but it’ll cost you more (see Cut the cost of existing loans).

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Good on you Rhydian; well done for explaining the real cost of talent show democratization


Monday December 17th, 2007

I love X-factor & never miss an episode. The MSG & I watched every second on both ITV1 and ITV2 on Saturday night and stayed in to watch the final with great excitement. The moment was deadened for us, with a travesty of a result which saw the back story beat the brilliance.

My admiration for Rhydian’s talent was matched at his comment, on prime time ITV1, that “I know it’s expensive” when discussing phone voting. Dermot O’Leary quickly ‘corrected’ him saying “it’s not expensive”. Yet at 35p a vote, the cost isn’t negligable, especially for those with kids who want to vote 50 times (a note Rhydian rightly defended himself, though with a touch of embarrassment).

Don’t think that puts me totally anti the vote; it of course enhances viewing as we feel more a part of the show. I voted myself, though only once of course, but we need to put the cost in perspective.

Compare it to the 50p cost of buying the bank charges single, or a track on iTunes which costs 79p. Price is easily glossed over within the euphoria of the show. So well done Rhydian, it was lovely to see a nod to the cost of this particular participative democracy; just a shame it didn’t go our way!

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How do you describe a website to someone who’s never used it?


Thursday December 13th, 2007

We were just having a discussion in MoneySaving Towers…. My wonderful grandmother has never used the internet and very much struggles to understand ‘what I do’? So how do you succinctly and easily describe the internet to someone who has never used a computer? Suggestions welcome, we struggled.

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The twiglets company should be ashamed.


Monday December 10th, 2007

At this time of year, my tongue turns to the tantalising temptation of tangy twiglets; yet having searched the supermarket there are none-to-be found. So honing the internet I do a search and find the line has been discontinued. What nonsense! Tangy twiglets are the only kind worth having. These wonderful Worcestershire source snack sensations were superb. Yet there is hope, may I add the full weight of my support (which would be more if I’d been eating such twiglets) to the campaign I discovered in my search. Sign the bring back tangy twiglets petition… (though sadly it has some pop-ups)

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The seven stages of public recognition


Friday December 7th, 2007

When people I’ve not met before hear I’m on the TV, they often ask ‘are you famous then?’. I’ve still never managed to work out the appropriate answer so just tend to say “only to the people who know who I am”.

Having become someone who is ‘known’ but not, thankfully, hit celeb status, I was thinking about the different levels I’ve been through… of course there are lots of inconsistencies and crossovers, but the pattern is roughly as follows.

Level 1. At parties, people thinking they know who you are. This is the start point; you go to a friend’s party and a few people there, after its been explained what you do, say, “yeah, I think I’ve seen you”.

Level 2. When out filming, some people know who you are. When you’re out with a TV camera, people always look to see if they know the reporter/presenter. Due to this, their mind’s recognition software is accessing the correct files, making it much easier to place you, so rather than “do we know each other?” you start to get “aren’t you the money guy” type thing.

Level 3. People you interact with (waiters/shop assistants) recognize you. Those you’re talking with anyway occasionally ask “aren’t you the money guy?” and then slightly later on I got “aren’t you Martin Lewis” or even the occasional “thank you for saving me cash”.

Level 4. Being stopped in the street. People may recognize you, but they rarely stop you in the street, especially if you’re with someone. Yet the next level is the occasional street based person saying hi. In the early days you see people looking and are never sure whether a. they recognize you or b. your flies are undone.

A certain critical mass is needed before a street stop becomes a more regular occurrence; this happens to me perhaps once or twice in a day if I’m out in London – though a little more if I’m outside London (probably because people are more willing to talk). And it’s about this point that people occasionally ask for autographs.

Level 5. Public transport journeys become a clinic. I suspect this one doesn’t happen to actors/entertainment presenters. For me it’s mainly about the tube, and probably is because I’m a TV expert. When traveling, primarily during the day when it’s less crowded, people sometimes stop me and ask a quick money question. Generally I don’t mind, but sometimes when it happens four or five times and I’m desperately trying to read through papers for a deadline it’s a bit difficult, as saying no feels rude.

Unfortunatey this isn’t something I experience that much any more, as I travel on the tube much less, after a rather unpleasant experience I had one day. A middle aged, distressed woman came out of nowhere, grabbed me, pushed me up against the door and shrieked something like, “it’s you, the lord must’ve sent you to save my debts, you have to help me and my kids NOW, or I don’t know what I’ll do”. Of course she was desperate and wanted help, yet to be on the receiving end was unpleasant, off-putting and scary; I’m mildly clausterophobic and had to get off at the next stop.

Level 6. There’s no more ‘it’s you’. This only happened to me for the first time recently, so I can only guess it’s the next stage. Normally when someone recognizes you they say either “it’s you isn’t it?” (the answer, of course is always… yes it’s me) or “aren’t you Martin Lewis?” or “are you the money man?”.

Yet recently the MSG and I went to the gym, whilst moving towards my locker I had the following conversation with the guy next to me….

Him (out of no where): “Got a good weekend planned?”
Me (politely as it’s a bit strange to talk to someone when about to change in the gym): “Not really I’ve got to work all day tomorrow”
Him: “Filming for a TV programme are you?”
Me: “Yes”

And that was about it; it was only later I realized there’d been no “aren’t you?”

What’s next?

Thankfully I’m still a good way from being a household name; the frequency of all the above is still limited. I must admit I don’t think I really want to travel much further along the path. There are many negatives to being well known and it’s quite intrusive to your life to be out and have the feeling people may be watching you.

At the start of my career I quite liked the idea of being ‘famous’; yet the more I experience the less attractive it becomes. Of course, sometimes it’s great fun too. You get to have some influence and go to some good events, but the idea of a lack of anonymity and your entire life becoming public property isn’t particularly appealing.

The difficulty is the nature of my work, this site and the MoneySaving message means that continued success means spreading the word to more people, and that’s my passion. I’m still not completely sure I’ve reconciled the two in my head… something for me to ponder.

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Harry Hill


Friday December 7th, 2007

I’ve always been a fan of Harry Hill. And having seen him many times, I was very proud at the time I was briefly dabbling with stand-up after uni that he even thought up a line to introduce me with, “Martin Lewis… parents great fans of The Professionals”. Yesterday I had to film a bit of ‘green screen’ stuff for the title sequence of “It Pays to Watch”, and it turns out he was leaving, having done the same things as I went in.

What are the chances of that happening?

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Save an extra pound in Cahoot and you lose £7,000


Tuesday December 4th, 2007

As you’ll see in the Top Savings account article, internet bank Cahoot has become the new top clean savings account; but only if you’ve got between half a million and a million quid in it! However, the structure of its interest rates is the most bizarre I’ve ever seen.

Cahoot Savings Account Interest rates

  • £1+ 5.75% AER
  • £250k + 6.25%
  • £500k+ £6.45%
  • £1m+ 5.75%
  • The important thing to understand here is that the rate doesn’t just apply for the tiered amounts; it applies for the whole amount you have saved. Now look carefully and you’ll see you get paid LESS if you’ve got more than a million in there. This is absolutely ridiculous. Look at the sums:

  • Save £999,999 and you’ll earn £64,500 interest in a year
  • Save £1,000,000 and you’ll earn £57,500 interest a year
  • This means the one pound extra saved actually costs you £7,000 a year in interest! Anyone lucky enough to have anything over £900,000 in there; beware the interest you’re earning may push you over the limit!

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    A MoneySaving Dermatologist…


    Tuesday December 4th, 2007

    I needed to see a dermatologist the other week (don’t worry nothing too yucky), and whilst there we were talking about the exorbitant costs of some medications. Her biggest bug bear was about Aqueous Menthol Cream which is sold to calm itching; apparently some versions can cost a ridiculous £60 a tube. Yet if you simply go to the chemist and buy a tube of Aqueous cream (costs around £1) and mix it with 1-2% of menthol vapour rub (costs around £2) it’s virtually the same thing.

    Now that’s my type of consultant!

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    It Pays To Watch. My new series starting on Five in January.


    Tuesday December 4th, 2007

    Yay! It’s all been rather speedy, but starting on Wed 9 January, I’ve got a new prime time series every Wednesday night at 7.30pm for 10 weeks on Five TV. It’s called “It Pays To Watch”; and in many ways it’s the format I’ve always wanted to do.

    The aim’s simple; a magazine show to save people money, filmed in front of a live studio audience – think MoneySavingExpert.com meets Top Gear meets The Gadget Show. It going to be filmed on a Wednesday late afternoon in an ‘as live’ format; a couple of hours before transmission (for the sake of legal approval!).

    The show all came about when Chris Shaw, the senior programme controller of Five approached me and said “we’d like to give you a show that best uses your skills – what do you think we should do?” My answer was simple, “the equivalent of my weekly MoneySaving email but in a TV format”. And rather wonderfully they said yes (with a couple of tweaks and provisos as expected).

    The show’s going to be produced by MoneySaving Productions; which is also a new venture for me and exec producer Cat Lewis, who did the same job on my ITV1 Series Make Me Rich. We’ve almost recruited the whole editorial team now which should be fun. Plus Ruth Liptrot, who’s a fantastic, quirky, fun reporter from Five News is going to join me on the show in what they call the “sidekick” role.

    So cross your fingers; I hope it’ll capture the real spirit of MoneySaving. Of course the constraints of TV mean no mention of MSE is allowed and legals and formatting means I won’t always get my own way with what’s in the show (unlike on the site) but I still think it’s going to be a money show like no other.

    We’re going to be looking for loads of people to join in, get in the audience, take part in MoneySaving experiments and more; plus we’re looking for extraordinary MoneySavers (people who push it to the nth degree) for Ruth to come and meet. And I’m going to be doing a very special ‘celebrity wallet work out’ where I get to evaluate a celeb’s MoneySaving skills.

    Lots more info and how to get involved are available herel

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