This week | MARTIN'S QUICK BRIEFING: For more tips, alerts & awful puns, follow Martin on Twitter January debtbusters - incl 2 YEAR 0%
Shift existing debt to save £100s or £1,000s with our 10 must-knows Debt festers. If yours is looking worse than a New Year hangover, don't just ignore and hope it goes away. Sort problems NOW with our Jan debtbusters... | 1. | Shift card debts to TWO-year 0%. Those with existing credit cards can save big getting a balance transfer card to pay off old cards so you owe it instead. A range of new super-long 0% lower fee deals have launched for the New Year. Get a card you don't have, as you can't shift to the same brand.
| | | | 2. | Or lock in card debts at 5.9% FOR LIFE. For safety, if you need longer to repay, for a one-off 1.5% fee, new cardholders can shift debts to MBNA Rate for Life* at 5.9% until ALL shifted debt is repaid. Or Barclaycard 4.9% for 3yrs* fees-free (see Which Card Is Cheapest? tool to help decide). | | | | 3. | You don't need new cards to cut your interest. If you doubt you'll get accepted for new plastic with a cheap rate, or want to use existing credit more efficiently, there is another way. Ask and some cards let cardholders with room on their credit limit shift other debts to them cheaply, eg, Barclaycard is 6.9% for life (one-off 3% fee) - see the Credit Card Shuffle. | | | | 4. | The balance transfer golden rules. If you are shifting debts, remember...
a) Getting these cards requires a decent credit score. Don't apply otherwise.
b) Repay at least the set monthly minimum, or you can lose special rates.
c) Always plan to fully repay 0% cards before the 0% ends, or rates rocket.
d) Don't spend on these cards. That isn't usually at the same cheap rate.
e) New to this? Please read Best Balance Transfer help first (APR Examples). | | | | 5. | Can you shift your overdraft to 0%? Spending on debit cards often feels better than on credit. Yet if you're overdrawn, that's a debt too, often with higher interest costs and hideous bank charges if you go over. So deal with them. A few clever cards let you shift overdrafts to 0% deals (but be careful). | | | | 6. | Beware minimum repayments - it can take 27yrs to repay. Credit card repayments are set as a % of what you owe, so they only just cover interest, leaving debt hardly touched. £3,000 at 18% could take 27 years to clear, costing £4,000. Use Min Repayment Calc to see how long it'll take you.
If you can't afford to pay more, fixing what you pay now (and not borrowing more) could take 20 yrs off. Full help in Danger - Minimum Repayments. | | | | 7. |  Always repay the HIGHEST APR card first. Once your debts are as cheap as possible, if you've multiple debts focus all spare cash on repaying the highest APR one first. Just pay the minimum on all the others. This way you clear the fastest-growing debt first. Once clear, shift to the next highest APR and so on.
| | | | 8. | Always repay credit cards by direct debit. Forget or make late repayments and you risk losing any 0% deals, a fine and a credit score hit. So that never happens, I suggest you set up a direct debit to cover at least the monthly minimum, then pay more on top manually as always. | | | | 9. | Don't believe the 'consolidate your loans' hype. Many with debts dotted around feel a yearn to combine them in one loan. Yet cutting the cost (the interest rate) is far more important, and credit card balance transfer rates smash the cheapest loans. Ensure you make decent repayments.
Some may say: "But consolidating means paying less each month." Perhaps, but that means you'll take years longer to repay, often doubling or more the total interest (see Loan Calc). If you're going to do this, (or to cut costs on non-credit card debts) see Cheapest Loans. | | | | 10. | You have a RIGHT to reject APR rises. If your credit card firm tries to increase your standard APR rate, you have a right to reject this, provided you agree not to borrow more. Full info in the Reject Rate Rises guide. | | |
The solutions above are for cutting debt costs. But if you can't meet min payments, have non-mortgage debts bigger than a year's salary, or sleepless nights worrying, you're likely to be in debt crisis. If so, ignore the above.
Instead get free, one-on-one debt counselling help from Citizens Advice, Stepchange, National Debtline, or, if you're struggling emotionally too, CAP. Full info in Debt Crisis Help. And don't worry, they're there to help, not judge you. The most common comment I hear after is: "I finally got a good night's sleep."
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| JAN MONEY MAKEOVER SPECIAL | Thu 3 Jan 2013 |
Beat BT price hike with £10/mth line rent & broadband
BT standard line rent rising to £15.45/mth, Sky & TalkTalk already up, Virgin in Feb. Lock in now to beat them The big boys' price hikes are here. BT's £14.60/mth jumps to £15.45/month this weekend, while Sky and TalkTalk have hiked prices too. Don't take it lying down. Fight back, by ditching & switching to far cheaper deals.  Urgent. Only got phone for b'band? Pay equiv £10.24/mth for BOTH. MSE Blagged Until 31 Jan, pay £111 for a year's line rent (no calls included) with Primus* and 99p/mth for broadband (avail to 80% of UK). That's equivalent to £10.24/mth all-in or pay monthly for £12.99/mth. Free line installation too. Customer service? A hot 55% rated Primus "great", 23% OK. Full info in Cheap Home Phones.
- Get line rental only for just £7/mth (less than half BT's standard cost). Already cheapest, until the end of Jan, Primus Line Rental Saver* is cut to £6.99/mth (from £7.99) with the price fixed on a 12-mth contract. Want eve & wknd calls included? Its Home Phone Saver* is £8.49/mth.
- Want to stick with BT / Virgin / TalkTalk? Save £60/year. Even if you don't switch, pay a year upfront and you can save. BT's Line Rental Saver* is £129, saving £56 compared with paying monthly - but only weekend calls are included. TalkTalk* is £114 and Virgin Media* £120, both save £60/year. See Upfront Line Rental.
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| Jan sales watch: Warehouse & Oasis now up to 70% off + extra 10% Burton code. Updated A-Z of 50+ Sales. 2,013 FREE year's 2for1 restaurant discount cards (RRP £70). MSE Blagged. Gets 2for1s or 25% off at 6,000 restaurants, incl chains (Cafe Rouge, Prezzo) and indies. 1st 2,013 get a free year, rest a month. Gourmet Society Deals Premier Inn £19, Travelodge £15 & more hot hotel sales
Premier Inn £19 175,000 rooms Jan-Mar sale starts Thu | Travelodge £15 rooms still available
Park Inn 30-50% off wknd rooms for ALL 2013 | Radisson Blu 30% off wknd rooms for ALL 2013| Full info: Hotel Sales Forum Hottie. Office £5 shoes & boots, £22 Converse. Shoe-pendous bargains in 60% sale - Can you find 'em? |
Save £200+ on 2013 energy bills
Prices have just soared. If you still haven't switched, URGENTLY compare, save £100s and bag cashback
This is the easiest and quickest way for many to save money - great to kickstart New Year savings. Don't waste money through apathy - read everything you need to know about Switching Gas & Elec, or if you want the short version... | | Avg/yr | Exit fees | | Standard tariff (i) | £1,400 | N/A | | Cheapest variable | £1,120 | £20/fuel | | EDF Blue | £1,180 | None | For medium user, dual fuel, quarterly bill.
(i) Big 6 average. Source: Energyhelpline | - Save £200/yr in 5 mins. Typical annual bills on a standard tariff are now £1,400, yet for the same use, switching could cut this to £1,120. Plug your usage and postcode in a comparison site to find your exact winner. We've blagged you cashback after c.3mths via these links if they switch you...
Top site: Energyhelpline* £15 cashback/switch (or call 0800 074 0745)
Dual fuel: MoneySup* (0800 177 7861) £30 cashback | uSwitch* 6 x wine
On prepayment (key/card) meter: See our Switch Prepaid Energy guide.
Business energy comparisons: Energyhelpline*, or Make It Cheaper* (different tariffs apply for biz). - Or guarantee NO HIKES this winter and next. Most cheap tariffs are variable so prices can rise. The only way to stop this is to grab a cheap fix (see Fixing FAQs) with a set rate. Our top pick's EDF Blue June 2014 fix*. Look for it in comparison results, as it combines a long cheap fix with no early exit fees, so you can switch again if needed.
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| Child benefit cut to hit 1m next Mon. Find who's affected & if you need notify HMRC... Child Benefit Q&A "If goods are faulty, they're ALWAYS returnable - shop 'rules' are irrelevant.
If not, you CAN'T return them unless shop 'rules' allow, or they're bought online."
Read Martin's new Return Rights - are shops telling you porkies? blog Free 7-day gym passes. MSE Blagged. 7-day Brit Military Fit, 5 at LA Fitness & Harpers. Full list in Cheap Gyms. Free 3mth Weight Watchers online - usually £65. Just combine two different promos. Free Weight Watchers |
Car insurance all change - can you save £400?
Prices have turned upside down after EU ruling - even if not at renewal, check if you can save £100s or £1,000s Since 21 Dec, insurers have been barred from using gender to set prices. This means your costs and cheapest provider may have radically changed. Use our Cheap Car Insurance guide to see (and report successes), including...  Step 1: Combine comparison sites: Different sites search different insurers, so we've analysed to get you max cover. Use as many as you can in this order.
Over 25, no claims/points: MoneySupermarket*, Tesco Compare & Confused.com*
Aged 17-24: Confused.com* & MoneySup* (see Cheap Under-25s Car Insurance)- Step 2: Add the ones they miss: Always manually check Aviva* and Direct Line*, and if you've more than one car, add Admiral MultiCar*.
- Don't assume 3rd party's cheapest. Counter-logically, for some, comprehensive is cheaper as selecting it means some insurers see you as a lower risk, which outweighs the fact you get better cover. Always get quotes for both.
- If savings are big, switch, even if not at renewal. Unless you've claimed, evaluate taking new cover & cancelling. You'll get the unused time refunded, but there's usually £25-£50 exit fees and you won't get this year's no-claims.
- "Saved £401 following these steps." Forumite RedMikeKite says: "Followed steps & watched the MSE video after a slight mishap which put my renewal up to £594. Got it down to £193 - couldn't believe it, you saved me £401."
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| £59 Eurostar rtns to Paris, Brussels & Lille. Travel 17 Jan - 27 Mar, incl wknds. Rarely-discounted Eurostar Deals. 30p socks, £20 Firetrap jeans & undies too. Huge sale at Sports Direct. Also incl cheap undies. Sports Direct Deals Restaurant vouchers incl... Carluccio's 2for1, PizzaExpress 25% off...
Carluccio's 2for1 (every day) | PizzaExpress 25% off food (Tue-Thu) | Brewers Fayre 50% off food (Mon-Fri) | Prezzo 2for1 mains (excl Sat) | Ask 25% off food (excl Sat) | Harvester 20% off bill (every day). See all Restaurant Vouchers. Train fares UP 4.2% this week - FREE split ticket app. Use the TicketySplit iPhone app or Android website.
Flog old mobiles for MAX price - can be £200. If you've upgraded, don't just flog your old one to the first site you see on TV. MobileValuer compares mobile buying sites for max cash, eg, get £239 for iPhone 4S 16Gb rather than £115. Compare MP3 and CD prices instantly. TuneChecker.com compares cheap CDs, MP3 album and single downloads for 16,000 tracks including Pink's The Truth About Love for £5, that's £4 less than iTunes, and lists 200+ free MP3 albums. |
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Free budget planner tool - analyses your finances
Use our specially-designed tool to root out your financial weakness, and get in control for 2013. How much do you earn a year? Easy question. And how much do you spend? Errrr.... Without knowing the answer to both, you can't be in control. Our budget planner financial analysis tool works it out for you. Many swear by it, some at it...  Do you spend more than you earn? There's no more important question. At best this eats savings, at worst it racks up painful debt. The Free Budget Planner assesses over 90 spending areas to put you in the know. If you're spending more than you earn...
Step 1: Cut costs without cutting back. If it costs you, eg, home insurance or childcare, can you do it cheaper? Give yourself a money makeover to cut 30+ bills.
Step 2: Recalculate with the budget planner. Has that balanced your books?
Step 3: If needed, cut back. If bill-cutting doesn't do it, then sorry, it's time to read 75 Ways To Cut Back.
Step 4: Start piggy banking. Doing a budget's easy, sticking to it's tough. Martin's Piggy Banking system splits spending into different pots, eg, bills, holidays, food and Xmas, to make it a doddle. back to top ↑ |
| EXTRA 25% code for 'secret sale' site. MSE Blagged. Hit & miss sites hold daily designer sales. See Secret Sales. £60 4-day UK/Europe holiday park family trip. Collect 10 tokens in The Sun newspaper. See Sun Holidays. Asda 48hr online currency FLASH sale. Next Tue & Wed, 5 currencies, incl dollar & euro, are on sale. We don't know exact rates, but past sales were strong. See how it stacks up with the TravelMoneyMax Travel Money Comparison.
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Restaurant vouchers | Discount vouchers | Top deals |
| The Moneysaving community |
 MONEY MORAL DILEMMA | Should we pay to shrink our garden?
This week's MoneySaver who wants advice asks... We've just bought a house and moved in. Last weekend, our new neighbour came round and apologetically explained she'd just found out the garden fence is in the wrong place (and has been for years). Moving it will mean we lose a portion of our garden. We've checked with the Land Registry and she's right - but she wants us to share the cost. As I see it, she is the one gaining garden, so she should pay. Enter the Money Moral Maze: Should we pay to make our garden smaller? | Suggest an MMD | View Past MMDs THE GREAT HUNT | How do you stop fruit and veg rotting?
Whether you've bought it or grown it, too many of us don't use it all. So we want to share your tips on what you do to prolong the life of different types of fruit and veg. Give us tips for bananas and melons alike. Share yours/read others': How to prolong the life of fruit and veg Past topics: View all Charity/community groups - apply ASAP for an MSE Charity grant. The next funding round for charities and groups involved with financial/consumer education projects is open. Only the first 40 applications that meet the criteria are considered, so apply ASAP. Full info at The MSE Charity. Related: MSE's Charity Fund, How This Site's Financed CAMPAIGN OF THE WEEK | Financial ed for vulnerable youngsters
Do you work in the financial, charitable or education sectors delivering financial education to vulnerable young people? The All Party Parliamentary Group on Financial Education has launched an inquiry into it, and how education can be delivered in future. Please tell the inquiry by 31 Jan how you do it and the effect it has. Spotted a campaign? This space is for MSE to support money-based work by other organisations. Send us a campaign of the week suggestion. CHEAP FLIGHT SALES ALERT | Airline: Flybe Price: From £17.99 each way Ends: Thu 3 Jan 2013
Our pick this week is Flybe's 10% off selected flights sale. It's on till 11.59pm Thu 3 Jan and includes some taxes & charges. It's for flights from 17 UK airports to various destinations from Wed 20 Feb to Tue 30 Apr 2013. We found flights from Belfast City to Leeds Bradford for £17.99. To find flights quickly, use the FlightChecker on a £30 one-way max search. Extra charges warning: Avoid payment and check-in charges - see the Budget Airline Fee Fighting guide. Related: Cheap Flights, Cheap Hotels, Spending Abroad, Cheap Currency, Travel Insurance back to top ↑ |
Quick forum tips | Freebies |
Martin's blogs | Martin's appearances Thursday 3 January
Shelagh Fogarty, Radio 5, 12-1pm.
Consumer Panel.
Listen to past shows. Friday 4 January
Jeremy Vine, Radio 2, 1-2pm.
Subject tbc. Monday 7 January
This Morning, ITV1, between 11.30am & 12pm. Subject tbc. PS. Missed The Martin Lewis Money Show? Watch past episodes. | Cheap travel money | UK's Best Currency Rates | | £100 will buy you: | | Best | Worst |  | € | 122.01 | 111.05 |  | $ | 162.01 | 146.99 |  | TL | 282.00 | 258.16 | | Rates correct at 4pm Wed | Find all top currency rates
Compare travel cash | |
This week's poll: When did you last switch energy provider?
| Poll resultsDid you spend less and enjoy more this Christmas?
Cutting back didn't dent your Christmas spirit - with nine out of 10 people who spent less this year saying their festivities were just as fun as usual, or even more so.
- 30% of voters who spent less said Christmas was better than usual.
- 61% of voters who spent less said it was as enjoyable as ever.
- 16% of voters who spent more said Christmas was less enjoyable.
4,633 voted. See Full Results |
Question of the week Q: My daughter has an O2 mobile on a two year contract. It's told us it's going to increase the monthly fee. Can it do that? Graham, by email. MSE Archna's A: There's no easy solution to this one, sadly. Buried in O2's terms and conditions, it states it may increase prices once a year in line with inflation. In the past the regulator has ruled mobile providers are within their rights to do this, and providers have carefully stayed within these bounds. The only chink of light is if you can argue the changes are of material detriment to you. If so, the regulator says you must be allowed to walk away penalty-free. In practice though, proving this is extremely difficult.
However, it's worth a go as a MoneySaver shows: "I contacted Vodafone as at the point of sale it didn't explain there could be increases during the contract. After threatening court, it agreed to credit me with £8 to cover increases." Please suggest a question of the week (we can't reply to individual emails). | Board of the week The Health & Beauty MoneySaving Board Share advice and tips on health, diet and beauty MoneySaving. Discussions include No Buying Unnecessary Toiletries in January 2013, The Slimming World Support Thread and Dry-athlon Challenge. |
 Archna's free game of the week: Snail Bob |
Ahhh... sweet pics of kids playing in EMPTY BOXES! Before Christmas, many called our Martin a Scrooge (and worse) for his TV experiment to give kids empty boxes for Christmas. Yet the kids loved it. Since then, he's been inundated with tweets and emails - including parents making incredible box castles - so here’s Martin's cute kids in boxes gallery. We hope you save some money, Martin & the MSE team |
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What you need to know This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances - and remember we focus on rates not service. We don't as a general policy investigate the solvency of companies mentioned, how likely they are to go bust, but there is a risk any company can struggle and it's rarely made public until it's too late (see the section 75 guide for protection tips). We often link to other websites, but we can't be responsible for their content. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. Please read the Full Terms & Conditions, Privacy Policy, how this site is financed and Editorial Code. Martin Lewis is a registered trade mark belonging to Martin S Lewis. MSE, Money Saving Expert, MoneySavingExpert and Moneysavingexpert.com are registered trade marks belonging to MoneySavingExpert.com Limited. More about MoneySaving Expert and Martin Lewis What is MoneySavingExpert.com?
Founded in February 2003, it's now the UK's biggest consumer help website with over 6 million people getting this email and nearly 10m using the site. In September 2012 it became part of the MoneySupermarket Group PLC. Its focus is simple: how to save cash and fight for financial justice on anything and everything. The site has over 30 full time staff about half of whom are editorial researching, analysing and writing to continually find ways to save money. More info: See About MSE Who is Martin Lewis? Martin set up and runs MSE, he's an ultra-focused money saving journalist and consumer campaigner. He has regular slots on Daybreak, Lorraine, Radio 2 Vine, BBC1 Watchdog, Radio 5 Consumer panel and presents ITV Tonight. He is a columnist for amongst others the Sunday Post as well as an author. More info: See Martin Lewis' biog What do the links with a * mean? Any links with a * by them are affiliated, which means get a product via this link and a contribution may be made to MoneySavingExpert.com, which helps it stay free to use. You shouldn't notice any difference; the links don't impact the product at all and the editorial line (the things we write) isn't changed due to it. If it isn't possible to get an affiliate link for the best product, it's still included in the same way. More info: See how this site is financed. As we believe transparency is important, we're including the following 'un-affiliated' web-addresses for content too:
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