Update: 1 July 2014: ISAs have today transformed into NISAs (New ISAs), meaning everyone can now put £15,000 into cash or shares savings without paying tax on it. But despite this bigger allowance, the principles of this blog still apply. The new cash ISA year started yesterday. Our best pick pays 2.75%, but some bank accounts pay...
The energy regulator Ofgem has today announced it is proposing to refer the energy market to the competition authorities. This report, which is only five years too late, contains the ‘shock’ fact there’s tacit co-ordination on energy prices – even though each year energy firms bleat like sheep and raise prices together. Within the report, a key...
In this week’s Budget, the Chancellor announced the most sweeping changes to pensions for years. From 2015, everyone will have the option to access their cash without having to buy an annuity – the product you buy to convert a pension pot into a regular income for the rest of your life. I am completely torn over...
A piece in the Evening Standard this week highlighted that Londoners had picked me as their no.1 choice to be Chancellor. I tracked down the origins of this to an Opinium survey of 1,000 Londoners press-released by Nutmeg, which includes… When asked from a pre-defined list who respondents would replace George Osborne as Chancellor with if they...
Insurance is the one product you buy in the hope you’ll never need to use it. The big problem is that it’s virtually impossible to know how it’ll respond to a claim, until you’re claiming. And paying more doesn’t guarantee that you’re more likely to get a payout. Therefore if you’re in the right, the most important...
In early January, I invited you to join my run challenge. The idea is for everyone who’s up for it to declare their 2014 running goal, and for us all to collectively monitor and encourage each other via these regular progress blogs. This is the first of my progress reports, and I’d love you to join in...
Look on any mortgage advert, and loudly and prominently you will see the APR. The regulations state it must be equally as prominent as the biggest other rate. The only problem with this is it’s a meaningless number that bears little resemblance to the amount most people end up paying. The supposed consumer protection regulation that enforces this...
On 11 February, I was called to the House of Commons to give evidence about the new Bill that brings together all existing consumer rights legislation. On the whole, it’s a good thing. Rights should be more consistent, there will be new digital rights covering downloads, and a new rule that if you take faulty goods back...
Last week on ITV’s The Agenda (watch it back), I challenged the Chancellor about what he’s going to do to defuse the UK’s mortgage ticking time bomb. Sadly, as is the wont of politicians from all tribes, he avoided the question… something I then continued to point out throughout the programme. Yet this wasn’t a party political...
Sadly, travel agents are up in arms at me again for suggesting people haggle down the price of package holidays. I have no axe to grind against travel agents, but I can’t and won’t apologise for the fact that my job is to show consumers how to get the cheapest deals. This flared up again after...
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26 September 2023
11 September 2023Update September 2017: It’s eight years since I first braved this subject, expecting a snowstorm of protest. Instead, year after year more join in, like Julia who recently tweeted me, “@MartinSLewis, finally took your advice and told my family I can’t afford Christmas presents. What a weight off my mind. Thank you.” One year even the Archbishop of...
4 September 2023The 2023 academic year is about to start, and it'll see the biggest shake-up to student finance in England for a decade. The changes are both subtle and massive. On the surface they look like a tweak, in practice they will increase the eventual cost of going to university by over 50% for many typical graduates.