Martin Lewis’ 15 top tips to save money amid the cost of living crisis

Millions of Brits are feeling the pinch due to the cost of living crisis, and Martin Lewis has continued to provide free tips to help those struggling.

The money-saving expert, 49, is known for his helpful advice and tricks, and over recent months he has provided a whole host of useful cash-saving tips.

Martin has branded the current situation the worst he’s seen “since becoming the money-saving expert in 2000”, and has now outlined 15 top tips for those looking to save some money.

Speaking to The Mail on Sunday, he said: “The big picture is just too scary. So if you look at the small picture, go to every single thing that you spend money on and, first, ask yourself, ‘Can I do it cheaper and the same way?’

“And, then, even if you can, ask yourself, ‘Do I need everything I’ve got? What do I need? What can I reduce?” The more income you have, the more stuff you do, the more you can save.”

Here we take a look through the financial guru’s tips…



Martin Lewis has outlined his top tips to help save money



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Mobile & Broadband

Many people are forking out huge amounts every month for their phone and broadband bills, but the Money Saving Expert website has now outlines many new deals which could save you hundreds every year.

Some people on lower incomes will be able to qualify for a broadband ‘social tariff’, which means that your bill could be slashed to just £15 per month.

State pension

Over 800,000 people qualify for a state pension top up which can be worth thousands.

The top up can those on low incomes and can also enable you to become eligible for council tax discounts, free TV licenses and more.

Check if you qualify for Pension Credit here.



Many people qualify for a state pension top up
Many people qualify for a state pension top up

Switching banks

By simply switching to a different bank you could make £100 or more, with many banks offering different incentives for you to open an account with them.

Money Saving Expert has published a list of banks that pay new customers, including Nationwide, who offer £100 or more, and HSBC, who offer up to £170. Take a look at the list here.

Childcare

It’s no secret that childcare can cost thousands, but many working parents are missing out on help which is available to them.

You could be eligible for free childcare, child tax credit or tax-free childcare.

Direct debits

One of Martin’s top tips is to sit down and look through your bank statements and analyze your spending.

Recurring payments and direct debits can take hundreds out of your account each month, and there may be some which you can cancel or no longer need.

There may be subscriptions you previously signed up for which you’ve forgotten about, so make sure to check what’s coming out of your bank each month.

Council Tax

Many people are eligible for a council tax discount, ranging from 25% up to 100%, depending on circumstances.

If you live alone, are a student, have a severe mental impairment, have a live-in carer, receive pension credit or have a low, you could qualify for a discount.

Money Saving Expert have provided a helpful guide for those wondering if they’re eligible, check it out here.



Martin advises checking direct debits and recurring payments
Martin advises checking direct debits and recurring payments

Selling items

Another of Martin’s top money-saving tips is to sell anything you no longer use – if you haven’t used an item for a year, it’s time to sell it.

Sites such as eBay and Depop are great for selling unwanted goods, and Money Saving Expert has even outlined how to find out how much some of your stuff is worth.

There’s many things you may think are worth nothing, but one woman has made over £2,500 selling old crisp packets!

NHS prescriptions

If you use more than one prescription per month, it could be worth looking into getting an NHS prescription prepayment certificate (PPCs).

The one-off certificate covers all prescriptions for either three months or a year, and last year studies showed more than over one million people in England would have been better off had they had one.

A prescription charge in England is £9.35 per item, and a PPC for three month costs £30.25 while 12 months will set you back by £108.10.

Washing

Using your washing machine on a 30C cycle and drying clothes outside rather than using a tumble dryer could save you around £28 per year on your energy bill, according to the Energy Saving Trust.

While the weather is not always great, it’s always best to take advantage of the warmer temperatures while you can.



Hanging clothes out to dry can save you cash
Hanging clothes out to dry can save you cash

Check tax band

Martin has also explained how many homes across the UK are in the wrong council tax bands, and says it could be worth asking if you’re in the right band.

Over 400,000 homes are believed to be in the wrong band, as they were valued when the council tax system was first launched back in 1991.

Dishwasher tablets

A super simple hack to save some cash is to halve your dishwasher tablets, as this can help keep costs down.

Some of Martin’s other households hacks include using disposable kitchen cloths, emptying and reusing hoover bags and saving old toothbrushes to help clean between tiles and taps. Check out the rest of his household tips here.

Offers and deals

Planning a day out? There’s numerous deals out there which could see you save cash on tickets and passes.

By using the ‘Meerkat Trick’, you could get 2-for-1 cinema tickets on Tuesdays and Wednesdays as well as deals in thousands of restaurants.

Check out the £1 trick here.



Cutting dishwasher tablets in half can help save cash
Cutting dishwasher tablets in half can help save cash

Recycle clothes

Many people recycle their clothes already, but most are unaware that they could be getting paid for recycling their old garments.

There’s a whole host of high street stores that offer incentives for shoppers to recycle their old clothes and even beauty containers. You could receive £5 for any unwanted clothing.

Yellow stickers

Knowing when to head to the supermarket to get the biggest ‘yellow sticker’ reductions could save you hundreds each month, with retailers slashing the price of products as they near their expiry dates.

Timings vary across each retailer, but most tend to reduce things just before the stores are set to shut down or first thing in the morning.

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