This week | MARTIN'S QUICK BRIEFING: For more tips, alerts & awful puns, follow Martin on Twitter 10 BIG questions that could save you £1,000s
Not a quiz, but questions to help you hone in on big spring-clean savings Working through your finances can save big money, so I've developed 10 short-cut questions to help you hone in on key savings. The excuse? Let's pretend the seasonal sun's finally arriving, in time for a financial spring clean... | 1. | Has your home got more or the same no of bedrooms than people? Eg, 3 bedrooms, 2 people. If so, check huge possible savings switching to a water meter from water rates (depends roughly on your home's value).
As DenwantsJFT96 tweeted us: "Switched a few years back and now pay £45 a month less (that's £540 a year - ML). Plus it makes me more conscious of what I use. Fixed dripping tap." Full help in Will I Save With a Water Meter? | | | | | 2. | Do you go abroad at least once a year? Three key things for you.
A) If you holiday in Europe, check your EHIC is in date (3m expire in 2013). If not, NEVER pay to renew, it's always free. See Free EHIC.
B) Get permanently perfect exchange rates worldwide. Most credit & debit cards add a hidden 3% load, so spending £100-worth of euros costs £103.
Yet a few specialist credit cards are load-free, giving unbeatable rates. Top pick's Halifax Clarity* then Saga* (over 50s), Post Office* & for Nationwide custs ONLY, Select*. Our Eligibility Check shows your chances to get 'em.
Always set up a direct debit to repay IN FULL each month, or the 11.9%-16.9% rep APRs cost large. Full help: Top Overseas Cards (APR Examples)
C) If you go away at least twice a year, get annual travel insurance, or a bank giving it to you free. See £16/year Annual Travel Insurance. | | | | | 3. |  Do you have a mortgage and savings? With dismal savings rates, overpaying your mortgage wins for many. If your mortgage rate is higher than your after-tax savings rate, it pays. But a) Check there are no overpayment penalties. b) Keep a few months' emergency cash aside.
The impact can be enormous. Overpaying £100/mth on a £100,000 mortgage at 4.5% saves £18,000 interest over a 25-year term. Use our Mortgage Overpayment Calc to work out your numbers, and follow the Should I Overpay My Mortgage? guide for full step-by-step help. | | | | | | | 4. | Are you paying interest on your credit cards? If so, do a balance transfer. This is when you get a new card that repays the debts on other cards for you, so you owe it instead at a usually FAR lower rate.
The golden rules: a) Clear or shift again before the 0% ends or you'll pay the full APR. b) Pay at least the monthly minimum or you'll lose special rates. c) Don't spend on these cards, it isn't usually at the cheap rate. | | | | | 5. | Are you saving up to pay children's tuition fees? It could be a costly mistake. Under the new system, tuition fee student loans only need repaying after graduation if earning over £21k (paying 9% of everything above £21k), and are wiped after 30 years.
Many will need to repay far LESS than the actual cost of the fees, so paying upfront risks throwing £20,000+ down the drain. Full help in Should I Save To Pay Tuition Fees? and 20 Student Finance Mythbusters. | | | 6. | Are you guilty of just auto-renewing your car insurance? If so, this MoneySaving sin means you're likely paying way over the odds. Don't wait, check if you're overpaying now. Provided you haven't claimed, it may be cheaper to cancel, pay an admin fee and get cover elsewhere.
As Sarah Cooper tweeted us: "Renewal is £1,200. New policy even with same company is £690. How do they justify this?"
The aim is to get as many quotes as possible in as little time:
a) Combine MoneySupermarket* and Confused.com*.
b) Add biggies they miss: Aviva* & Direct Line*.
c) If more than one car, try Admiral MultiCar*.
d) Don't think 3rd-party's always cheapest, check comprehensive too.
Bigger savings possible via: Cheap Car Insurance | Young Drivers Car Ins | | | | | 7. | Have you planned what'd happen to your kids if you died? It's not a pleasant thought, but it happens to some. So consider cheap life insurance so there's money there if needed, and get a free or cheap will, especially if you have assets, to make sure those you want to inherit, do. This also enables you to specify your desired guardian for your children. | | | | | 8. | Have you been with the same bank for over 3 years? Loyalty is rarely rewarded, so you're likely missing out on top deals. Don't whinge about your bank, ditch it. Full info & best buys in Top Bank Accounts. A taster...
Free £125 from 'no.1 bank'. First Direct* pays new switchers £125 via this link and has won all our customer service polls by a landslide. You need to pay in over £1,000 each month (eg, have your earnings paid in).
3% on savings and 3% cashback on bills. Santander 123* pays accepted switchers with £3,000-£20,000 a huge 3% AER. Plus pay phone, council tax & other bills by direct debit for up to 3% cashback, dwarfing its £2/mth fee. | | | | | 9. | Do you often buy things on impulse? It may be time to instill a little discipline (whip crack). Why not try our fun, or scary depending on your view, Demotivator tool that shows how much small sacrifices save? Cutting out a cappuccino & muffin every working day builds up to £930/yr.
Or print our specially-designed wallet-sized Money Mantras, giving you pause for thought when shopping, to see if you really should spend. | | | | | | 10. | Are you nearing retirement? An annuity is what most people buy with their pension fund to get a regular income until death. Once picked, you CAN'T change your mind - so never just get it from your pension provider.
A 65-year-old with a £100,000 pot may get £5,050/yr with the worst payer, £5,710/yr with the best. Live to 90, that's £16,500 lost. Always check. Plus get a medical before, as hidden ailments may boost your rate. Free MSE Annuity Help Booklet: Order free printed or Instant download | | | | |
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 Get permanently cheap energy Our new club ensures you're always on the cheapest tariff.
Join free: Cheap Energy Club |
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Free help & templates: Reclaim PPI |
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| The Ones Not To Miss | Wed 17 Apr 2013 |
Do you need a TV licence?
If you ONLY watch catch-up and on-demand TV, never live broadcasts, you're not required to pay £146/yr fee TV licence laws haven't kept up with viewing habits, so some pay when not required. See our new 20 TV Licence Tips, incl...  It's all about if you watch 'live TV'. Watch shows as they're broadcast, whether via the TV, internet or owt else, you MUST have a licence or you risk a £1,000 fine.- Don't pay by quarterly direct debit. This costs £5/year more. Pay by a lump sum or monthly direct debit (which is taken over 6mths) to keep the cost down.
- It isn't about whether you watch the BBC or not. While most of the cash goes to the BBC, the licence is for watching any TV channels 'live' - even if you only watch Sky channels.
- Only watch catch-up TV? No licence needed. If you ONLY watch via catch-up services such as BBC iPlayer (but not 'live') and/or subscription services such as Netflix, as they don't simultaneously appear on a TV channel you don't need a licence - even if watching on a TV screen. More help in Do I Need A TV Licence?
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| Ends Sun. Tesco Wine 750 pts code (worth up to £30) on £50 spend. MSE Blagged. Buy 2+ cases using XX6TJP at Tesco Wine*, get 750 Clubcard pts (converts to £30 Rewards), incl discounted wines. Full info: Wine Discounts. 90 hayfever tablets (3mths worth) £5 delivered. A deal not to be sneezed at - generic equivalents to the big brands. Cheap Hayfever Tablets BOOST old ISAs & new to 2.3%. It's a new ISA year, but urgently check old ISA rates too. Many are as low as 0.1%, yet you've a right to transfer. Combining new & old makes it easier to transfer again when needed. The top easy access new & transfer deal is Cheshire BS (part of Nationwide)* at 2.3% AER. Full info, help & best buys: Cash ISA Transfers 'Free' £10 photo teddy bear (£2 p&p). MSE Blagged. 2,000 cute codes available. See Photo Deals. |
New. LOWEST fee 0% debt-shift AND spending card
Top all-rounder card. A best buy balance transfer due to its 1% fee, it also allows 15mths 0% on new spending
Most credit card deals either allow you to shift debt at 0%, or to spend at 0%. So to have one that makes the best buys for both is a boon as it means fewer applications hitting your credit file, thus protecting your credit score.
- New. 15mths 0% on spending & balance transfers. Accepted new Halifax All-In-One* cardholders can get 15mths 0% on spending and debt shifts for just a 1% fee (the market's lowest). Yet unusually, it's a 'representative 0% rate', so only 51% of accepted applicants must get the full 15mths, the rest can get less. You can only find out by applying which hits your credit file. Our free Eligibility Checker at least shows your chances of acceptance.
| TOP 'ALL-ROUNDER' CREDIT CARDS (SPENDING & BALANCE TRANSFERS) | | Card | Balance transfer offer | Spending intro offer | Rep APR after | Will I get it? (1) | | Halifax* | 15 mths 0% (2) - 1% fee | 15 mths 0% (2) | 17.9% | Eligibility check | | Barclaycard* | 14 mths 0% - 2.9% fee | 14 mths 0% | 18.9% | Not available | | Sainsbury's* | 6.9% (2) - fee-free | 6.9% (2) | 6.9% (2) | Eligibility check | | (1) Tells you likelihood of getting a card. Unlike applying, it doesn't hit your credit score. (2) Representative rate. | back to top ↑ |
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| Instant FREE National Trust entry vouch. This weekend only, for 4 ppl. 200+ Eng, Wales, NI properties. Days Out. 30+ flower seed varieties £9 delivered (usually £60). MSE Blagged. Incl poppies, lavender, etc. Garden Deals Reminder: Guarantee no energy hikes for TWO winters. EDF's Blue Feb 2015 fix* typically saves someone on a standard dual fuel tariff £200/year (also avail for elec only), promises no hikes for 22 months and has no early exit fees, so you can leave if things change. To see if you'll save, compare and get cashback if you switch via our free Cheap Energy Club, which'll then alert you whenever you need to switch again. More help and cashback options: Cheap Gas & Elec. Balance bikes £60 via 50% off code. MSE Blagged. Kiddimoto bikes for age 2+. Ltd availability. Hot Bargains |
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| Forum Hottie. 'Free' £5.75 fish & chips at BHS. Buy £1.40 hot drink. Valid Fridays till 17 May. See BHS Deals. BodyShop.co.uk 'free' £13 body butter code. Spend £5, get 200ml body butter (£3p&p) Body Shop offers £13.50 Havaianas flip-flops via 10% extra sale code. MSE Blagged. Usually £20ish - always popular. Havaianas George (Asda) and Tesco clothing up to 50% sales. Online and in-store. FULL info in High Street Sales Diary. |
Reclaim PPI for FREE - full FAQs & template letters
Check now if you've been mis-sold. Over 2m payment protection insurance complaints in the last half of 2012 New figures this week show over half the complaints about banks in the last 6mths of 2012 were about PPI. Our DIY reclaiming successes keep flooding in. Susan emailed this week: "I claimed PPI from all the companies we had loans with, got £19,000 back. Thank yoooooooooo." Free help, full FAQs & templates in Reclaim PPI for Free. Here's a taster... Need help? Our 60 PPI Questions Answered includes 'my PPI seller's bust?' and 'can I claim for a dead relative?' back to top ↑ |
Student loan interest rates cut (for some). March's RPI inflation rate is just out, and it's usually this which Sept's annual student loan rate is based on. If so... Pre-1998 starters: Rate will drop to 3.3% (now 3.6%). 1998-2011 starters: Rate remains at 1.5%. 2012+ starters: Rate drops to 6.3% (now 6.6%). FULL info in Should I Overpay My Student Loan? Matalan £5 women's shoes. Starts today (Wed). 24 styles reduced (norm up to £16). See Matalan Offers. Codes: Debenhams 15% off, Boden 15% off, etc
Debenhams 15% off code | Boden 15% off + free del code | La Senza £10 off £50 code
Hawkin's Bazaar 20% off code | Bench 20% off code | Urban Outfitters 20% off code | Full list: Discount Vouchers Sainsbury's random 90% clearance. Incl Moshi Monsters 30p, Disney Cars key toy 50p. Can you find 'em? |
6% children's savings
Plus the new tax year (started 6 April) means a new junior ISA or Child Trust Fund allowance for every under-18 Teaching your children to ensure they're getting the best deal is a gift in itself... All listed have UK £85k savings safety.  6% kids' savings. Halifax's Kids' Regular Saver pays 6% fixed AER as long as you pay in £10-£100/mth for a year without withdrawing. Easy access: Skipton BS's postal Leap Account is 2.75% AER incl 0.5% bonus for a year, so monitor, ditch & switch when it drops. Full best buys, incl top 'lock cash away' deals, in Top Kids' Savings. - New £3,720 junior ISA. Under-18s born before Sep 2002 or after 3 Jan 2011 can save a new £3,720 tax-free in junior ISAs. Coventry BS's pays 3.25% AER easy-access, full best buys in Top Junior ISAs. Child Trust Funds: The remaining under-18s get the same right to add £3,720 tax-free to their existing Child Trust Fund. Top easy access payer is Furness BS at 3.05% AER. Full best buys/info in Child Trust Funds.
- Is it worth saving in a junior ISA? The gain from using ISAs is your savings interest isn't taxed. Yet kids don't pay tax anyway unless they earn over £9,440/yr - so if standard kids' savings rates are higher than junior ISAs, go for those. The big exception is if parents (not grandpa, aunty, etc) are giving a large amount of cash; if it earns over £100/yr, interest is taxed at the parents' rate UNLESS it's in a junior ISA. More help deciding in Junior ISA FAQs.
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| £60 4-day summer family holiday park trip. Collect 8 newspaper tokens for UK/Europe hols. See Sun Holidays. New vouchers - PizzaExpress 25% off food, Strada 33% off...
PizzaExpress 25% off food (Mon-Thu & Sun) | Strada 33% off (Sun-Fri) | Zizzi 25% off (varies)
Bella Italia 2for1 for £2.50 (Sun-Thu) | Cafe Rouge 25% off (Sun-Fri) | See all Restaurant Vouchers £3 Hunger Games book trilogy. Next cheapest £8. May the odds be ever in your favour. Can you find 'em? |
Restaurant vouchers | Discount vouchers & sales | Top deals |
| The Moneysaving community |
 CAMPAIGN OF THE WEEK:
Are your kids using expensive 'free' apps?
We've been campaigning on this for months, now the OFT's investigating the hidden costs of children's web & app-based 'free' games. Have your kids built up big bills after playing? Tell it what you think, or post experiences in our forum and we'll pass them on. Related: See precautions in the App games news story. Suggest a campaign: This is for MSE to support work by other charities, groups and campaigners. Send your campaign of the week suggestion. BOOK GIVEAWAY:
Working the Cloud. 35 blagged for MoneySavers. Want one? MONEY MORAL DILEMMA:
Should I let my brother pay staff twice?
This week's MoneySaver who wants advice asks... I handle the accounts for my brother's business as a unpaid favour. I've spotted we've paid an employee twice by mistake for one month. I'd usually ask the employee for the money back, but he's struggling financially, unlike my brother's firm, which is doing very well. I'm tempted to keep quiet - the cost's nothing compared to paying for an accountant, but don't think my brother would see it that way. Enter the Money Moral Maze: Should I keep schtum about overpayment? | Suggest an MMD | View Past MMDs THE GREAT HUNT REVISITED:
Games to play on long journeys. Revisited.
There were some great ideas last time, so we have high expectations this time around. Whether it's a variant on an old favourite, such as Martin's Rock, Paper, Scissors Tennis, a completely new concept, or just good old I-Spy, we want your go-to games for long trips. Share yours/read others': Games for long journeys Past topics: View all CHEAP FLIGHT SALES ALERT:
Airline: Aer Lingus Sale: Just pay taxes & charges Ends: Tue 23 Apr
Our pick this week is Aer Lingus. Pay just taxes and charges for flights from 14 UK airports to Ireland from 1 May to 15 Dec 2013 if you book by Tue 23 Apr. We found Cardiff-Dublin flights for £34.82. To find flights quickly, use the FlightChecker on a £50 one-way max search. Extra charges warning: Avoid payment and check-in charges - see Budget Airline Fee Fighting. Related: Cheap Flights, Cheap Hotels, Spending Abroad, Cheap Currency, Travel Insurance THE GREAT HUNT... REVEALED:
Cheap kids' birthday parties
MoneySavers suggest teaming up with another parent whose child's birthday is close to your child's, good old-fashioned parties at home and special offers and deals to treat your child without breaking the bank. back to top ↑ |
Quick forum tips | Freebies |
Martin's blogs | Martin's appearances 18 April
Daybreak, ITV, 7.35am-7.45am.
Deals of the Week. | 18 April
Shelagh Fogarty, Radio 5, 12noon-1pm.
Consumer Panel.
Listen to past shows. | 19 April
The Martin Lewis Money Show, ITV, 8pm-8.30pm.
Summer holiday cost-cutting special.
PS. Missed past shows? Watch them here. | 22 April
This Morning, ITV, 11am-12noon.
Subject tbc. | |
MSE team corner - Team appearances:
- No team appearances this week
| Board of the week The House Buying, Renting & Selling Board Share advice and tips on property-related MoneySaving. Discussions incl Does a building survey check the roof?, How much is your rent? and Complete renovation needed - are we taking on too much?. | Cheap travel money |
This week's poll: Is austerity or spending best for the UK economy? If you were Chancellor, which of these deliberately stark choices would you choose to best help the UK economy? | Poll resultsDo you know your ISA from your elbow?
Over three-quarters of voters use cash ISAs, with 52% saving between £5,000 and £50,000 in them.
- 20% have £20,000 to £40,000 saved in a cash ISA
- 10% have over £50,000 in a cash ISA.
- 24% don't have a cash ISA.
- 2% didn't have one - but will use this year's allowance.
19,541 voted. See the full results. |
Question of the week Q: I'm on EDF Blue June 2014. EDF Blue Feb 2015 costs £69/year more. Is it worth switching? Paul, via Twitter. MSE Archna's A: The big boon of these EDF tariffs is there are no exit penalties for leaving early. So if you switch, it will only cost you the slightly higher price for energy. But for that, you're ensuring an extra eight months of no price hikes. Industry insiders predict, unless wholesale prices change, there'll be 5%-10% price hikes by the end of 2013. If we see double-digit price rises from September, you'll just about make the extra back. But ultimately, make the decision based on your attitude to risk. If price surety's more important than the very cheapest prices, ditch and switch to the new longer fix. |
 Archna's free game of the week: Block Drop |
Nerdy Day Trips That's it for this week, but Bad Science author Ben Goldacre's giant crowd-sourced map is crammed with geeky places of interest. From decaying infrastructure to neolithic burial chambers, it's an obscure day trip enthusiast's dream. 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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