Mar

2021

Archive: MoneySavingExpert's Money Tips Email

Over 50 ways to save, incl... Rishi vs Martin, Amzn £5, Big Switch ENDS, £13 b'band, reclaim £10,000s state pension, Mum's Day deals, M&S Bank help, secret shoe outlets, free wills

This info may be out of date. Read this week's emails

THE TOP TIPS IN THIS EMAIL

Ends Fri. Big Energy Switch 17 - save £220+/yr

Martin: 'What I learnt from grilling Chancellor over the Budget'

Cheapest broadband of the year - '£13/mth' from BT-owned Plusnet

Amazon £5 off £20 and 'free' £6 code for some

200,000 women now due an avg £13,500 in underpaid state pension - but others still need to claim

Mother's Day deals, incl 100 M&S flowers £20 delivered & FREE photo postcard

M&S to close current accounts - can you switch and get a FREE £100+?

'Secret' shoe outlets, eg, £12 kids' Converse

New. Now 3 borrowing credit cards give 20mths 0%

FREE solicitor-drafted wills if you're 55+ (norm £150+)

Hot Diamonds 40% off EVERYTHING code

"Thanks for 'severely mentally impaired' council tax exemption info"

Record £2bn more saved in Premium Bonds in a month - could it spark rate cut?

180 hay fever tablets for £4.79

This week's best buys, incl 8GB Sim '£5/mth', 0.58% fixed savings, 29mths 0% debt shift

Should I tell my great aunt I couldn't cash her cheque?

BEST BUYS & TOOLS

Cheap Energy Club, incl Pick Me A Tariff

MSE Cheap Mobile Finder

Credit Club incl free credit report

0% Balance Transfers

Compare Broadband deals

Cheap Car Insurance

Best Bank Accounts

Top Savings Accounts

Credit Cards for Bad Credit

Credit Card Eligibility Calculator

Loans Eligibility Calculator

Mortgage Comparison

Free online complaints tool - Resolver

Compare Travel Money

Best Sim Only Deals

Ends 4pm Fri. MSE's Big Energy Switch 17
As firms post millions of price hike letters, you've just 3 days to save £220+/yr with our last super-cheap tariff (the other's full)

Millions of Brit Gas, EDF, E.on, Npower, Scot Power, SSE and other firms' customers are getting letters/emails right now (or are about to) telling of a massive 9% price hike in standard tariffs from Apr - a typical £96/yr uplift.

Yet you NEEDN'T ACCEPT THE PRICE HIKE. Instead see those letters as a call to action. But don't delay, our 17th Big Energy Switch, where we negotiate short-lived cheaper than the market's cheapest deals, is about to end.

Two weeks ago, at launch, we had two equally priced market-leading tariffs, and one has already hit its cap. That leaves Pure Planet (full detailed info below), which has cut its price by an avg £5/yr to stay top of the pack as others have dropped slightly.

So take 5mins NOW to do a comparison to see what you could save, or use our Pick Me A Tariff tools, where we do it all for you this year and, if you want, in future too.

Switching really is worth doing, as Jenny told us on Facebook: "Thank you Martin Lewis, I've just saved £744/yr on my energy bills."

All the cheapest deals are fixes, which means the rate you get (not the cost, that varies with usage) is locked in for a set time. The prices we list are averages - your real prices depend on region and usage - so all links go via our comparison, where you'll see your exact winner, price and tariff details.

Find choosing confusing? Most people prefer to let us help them with our MSE Pick Me A Tariff tools. These are perfect for those unsure or nervous about switching or choosing. And don't worry, they cover the whole of market and are speedy to boot.

Savings below are based on someone with typical direct debit use paying the new Apr-onwards £1,138/yr price cap.

MSE Big Switch winner

Ends Fri. Pure Planet 1yr fix, market's cheapest tariff with good feedback. Avg price: £915/yr on typical use. Service rating: 3.8/5 (good). Save: £223/yr. Only 5,300 left.

The Pure Planet 100% Green 12m Fixed Mar21 v1 tariff is a version of its standard 12mth fix - which it has just lowered the price of. Yet we've got it to add £20 dual-fuel (£10 elec-only) bill credit, on top of our usual £25 dual-fuel (£12.50 elec-only) MSE cashback. Include all that in the price, and it's the cheapest deal on the market, with one exception...

A small firm, Hub Energy, which we know very little about, has launched at a price that is an outlier. As we're whole-of-market, it will appear in your full comparison result, so you can make your own mind up.

Pure Planet has more than 200,000 custs and its service rating is a decent 3.8/5 - plus it has agreed to 'MSE enhanced service', meaning if it isn't helping you, contact us so we can escalate issues (pls talk to it first though).

Like all the tariffs here it's 100% renewable elec, but uniquely it is also 100% carbon-offset gas, making it the greenest cheap option.

- Who can get it? New Pure Planet dual-fuel (ie, gas & elec) and elec-only custs, who were either an MSE Cheap Energy Club member or a recipient of this weekly email by 4pm on Tue 23 Feb (if the latter, pls use the email address we send it to when signing up)
- Smart meters? Not required
- Green? 100% elec, 100% carbon-offset gas. See green energy defined
- Early exit fees? £30/fuel (unless within 49 days of the fix ending)
- Payment? Monthly direct debit only

Other top deals

E.on 1yr fix (newbies only), cheapest big-name deal. Avg price: £917/yr on typical use. Service rating: 3.0/5 (lower). Save: £221/yr.

As often happens as our Big Switch goes on, big players cut prices to get in on the action - a win-win. The E.on Fix Online Exclusive v63 tariff reduced its price after we launched, though Pure Planet then reduced again to undercut it. Yet including the MSE cashback, it is still the cheapest from a big name (something many of you tell us you like).

- Who can get it? New dual-fuel (ie, gas & elec) and elec-only custs
- Smart meters? Required if you don't have them (unless they can't be fitted), but they're free
- Green? 100% elec, but gas isn't green. See green energy defined
- Early exit fees? £30/fuel (unless within 49 days of the fix ending)
- Payment? Monthly direct debit
- Comparison link above: Filtered to exclude all but big-name deals
New. So Energy 1yr fix, cheapest TOP service deal. Avg price: £927/yr on typical use. Service rating: 4.5/5 (top). Save: £211/yr.

So Energy is a decent-sized firm that is currently number 1 in our energy firm service rating (a mix of YouGov survey and Citizens Advice complaints data). Last week it was one of our Big Switch tariffs, but all of those have gone.

However, it has now launched a new So Energy So Carrot Essential v2 - Green deal, which when you include the MSE £25 dual-fuel cashback and the special £50 bill credit offered, is only about £7/yr more expensive than our deal was, and as many like strong service, we thought it merited a mention.

- Who can get it? New dual-fuel custs
- Smart meters? Not required
- Green? 100% elec, but gas isn't green. See green energy defined
- Early exit fees? £10 (unless within 49 days of the fix ending)
- Payment? Monthly direct debit
- Comparison link above: Filtered to exclude all but top service deals

PS: There's an Avro Energy deal that's a smidge cheaper, and also top ranked for service (though not no. 1 like So), but it doesn't have green electricity. We've led on So, as if service is your focus, it being both cheap and no. 1 pipped it. Yet both will be in your comparison, so choose when you see the exact prices.
British Gas 13mth fix (newbies only), incl 'free' £138/yr heating insurance. Avg price: £942/yr on typical use. Service rating: 3.5/5 (good). Save: £196/yr.

Our main reason for including the British Gas Energy Plus Protection Apr 2022v4 tariff (as well as the fact many of you like big names) is it includes heating insurance for the first year, which it'd normally charge £138/yr for - this, factored in to a price not that much higher than the cheapest, makes it a strong deal.

Though be warned, after the year you pay £11.50/mth for it, so do diarise to either ditch it or compare heating cover then to see if it's worth paying for.

It's also fixed for a little longer, locking in your rates for about 13mths (not the price, which varies by use), so you're protected against hikes until the end of Apr 2022.

- Who can get it? New dual-fuel (ie, gas & elec) custs
- Smart meters? Required if you don't have them (unless they can't be fitted), but they're free
- Green? 100% elec, but gas isn't green. See green energy defined
- Early exit fees? £20/fuel (unless within 49 days of the fix ending)
- Payment? Monthly direct debit
- Comparison link above: Filtered to exclude all but big-name deals

If you don't pay by monthly direct debit, you either can't get the deals above or you'll pay a higher rate. However, that doesn't mean you shouldn't act:

Billed (not prepay) meter but not on monthly direct debit? The cheapest thing to do is to switch to monthly direct debit, as the top deals are only via this payment method. If you're not happy to do so, you can still do a comparison based on your payment method.
Are you a prepay customer? Those on prepay sadly have a less competitive market to choose from, and usually pay more. The prepay cap is also increasing, so try our prepay comparison - savings are smaller, but still possible. If you're willing to, it is likely you would make far bigger savings in the long run by switching to a credit meter. For help on that, see Cut prepay energy costs.
In Northern Ireland? Sadly our Cheap Energy Club - like all main comparisons - doesn't include NI as it has a separate energy market. But you can get more info in Cheap NI Electricity or do a comparison via the Consumer Council for Northern Ireland's tool.

Here's a quick Q&A - for more, see the full Cheap Energy Club FAQs.

Q. Is switching risky? Could I be cut off? No, as no one visits your home (unless you want/need a smart meter), and it's the same gas, same electricity and same safety. The only things that change are price and service. See our How switching works FAQs.

Q. Does MSE make money from this? Yes, provided it's a tariff we can switch you to. Like all energy comparison sites we're paid (though unlike others, we don't hide tariffs that don't pay), and we give you roughly half as cashback (£25 dual fuel, £12.50 single fuel).

You wouldn't get this going direct, so it's a win-win. The rest helps cover our costs and hopefully makes us some profit.

More switching and energy help in the links below...

____________________________

Student finance, pension reclaiming and more

8.30pm Thu, ITV: Martin's Money Show Live

Martin: "Applications for next year's student finance have just opened, so it's time to debunk many of the myths. Hopefully it'll be an education for students, future students, their families and all those who say: 'It's fifty grand of debt.' Sixth form teachers, pls let your students know too.

"Plus I've help on pension reclaiming, bank closures and more. If you've questions to suggest on this or owt else, tweet them via @MartinSLewis, and crucially use the show's hashtag #MartinLewis. Do tune in or set the VideoPlus. It pays to watch."

DON'T believe the fake 'Martin Lewis' or 'MSE' ads
Lots of scam ads litter social media and even newspaper websites - some of these lie that we or Martin promote Bitcoin, binary trading etc. See Fake ads warning.

Martin: 'What I learnt from grilling the Chancellor over the Budget... and the 10 things you need to know about it'

Stamp duty, tax rises, universal credit, self-employ, ltd co, furlough, mortgage prisoners, carer benefits & more

It may've since been a tad overshadowed by Ms Winfrey's, but my ITV interview with Rishi Sunak did, I hope, also include some revelations.

I'd watched the Chancellor's Wed night press conference, wondering if I'd need to rejig my questions for my interview the next morning, if they'd all been asked. Yet not one was. Their focus was economics - mine, as always, was practical not political, personal not public finance. Do watch the answers from the horse's mouth via the full Me & the Chancellor interview on the ITV Hub. Here are 10 key points from that and the MSE team's diligent research:

1. Income & other tax rises are coming due to freezing thresholds. From this Apr until 2026, the Chancellor is freezing thresholds for income tax (plus capital gains & inheritance tax, the lifetime pensions limit and some national insurance). As avg incomes grow each year, frozen thresholds mean most pay a bigger proportion in tax. See tax changes for a full explanation.

2. Furlough extended to Sept. The state will pay 80% of wages for 5mths longer than planned, though from Jul, employers must contribute 10 percentage pts of that (from Aug, 20%), which sadly may crystallise redundancies. Full furlough extension info.

3. Hurrah. Self-employ grant 4 will assess 2019/20 tax returns, BUT can't be claimed until Apr. The next grant, covering Feb to Apr, will again be for 80% of 3mths' avg profits up to £7,500. Eligibility criteria are unchanged, with two exceptions (see the full MSE 4th SEISS grant briefing for full, detailed info):

- As we campaigned for, 2019/20 tax returns will for the first time be included in the assessment, so 600,000 recent starter self-employed are finally due grants (sadly not backdated - I did try in my interview).
- Avg profits will now be calculated over 4yrs, which will impact what some get.

In answer to why the claim date is so late, in my interview the Chancellor explained it's as the changes take time to process. I pushed back, explaining the difficulties it creates for cash flow, but he didn't budge. I'll continue to lobby.

4. There will be a 5th (and 'final') self-employ grant opening in Jul. Bizarrely, while this will cover May to Sept (5mths by my count), it's only for 3mths' avg profits. Those whose turnover fell by 30%+ in the year to Apr 21 will get 80% of profits; those whose turnover fell by less than 30% get 30% of profits. Full info in our 5th SEISS grant briefing.

5. Me: "Is the door firmly shut? Ltd co directors are not getting any more support?" Chancellor: "Yes". I pushed hard on this, as a representative issue of all the 3m excluded from specific Covid help schemes. I told of the distress people face, and options presented. Yet again, he didn't budge. The door is shut. Watch my ltd co director to & fro with Rishi Sunak.

6. Stamp duty holiday (Eng & NI) extended. Welcome relief for all rushing to complete house purchases - 'no stamp duty on the first £500,000' will now last until end of Jun. After, until Sept it'll be on the first £250,000, until it returns to the normal £125,000 (after June, it's the usual first £300,000 for 1st-time buyers). Full updated info for all UK nations in our Stamp duty calc.

PS: I did ask the Chancellor whether he, like me, worried that stoking the house price fire was counterproductive for 1st-time buyers and others. His response, talking about the policy as targeted to protect property sector jobs, was eye-opening.

7. New 95% LTV (5% deposit) mortgage scheme. Here the Govt will underwrite the extra risk, so lenders can offer mortgages at 95% loan-to-value (eg, 5% deposit for 1st-time buyers) on properties up to £600,000. From Apr, Lloyds, NatWest, Santander, Barclays and HSBC will join it. This doesn't mean special mortgages, just more availability. I'd still urge you to push for 10% deposits though, where rates get much cheaper. Full info in 5% mortgage scheme. Related: Cheap mortgage comparison | Free 1st-time buyers' guide | Free remortgage guide.

8. Universal credit (UC) £20/wk uplift extended to the end of Sept; min income floor removed until Aug. The UC uplift is extended by 5mths. The extension of the min income floor removal is good news for low-earning self-employed, as until Aug their UC will still depend on what they actually earn, rather than an assumed minimum wage. After that, individual work coaches will still have discretion to remove the floor for some. See min income floor news.

9. Working tax credit recipients get one-off £500, but nowt for disabled/carers. The £500 is to put those on old-style working benefits in a similar position to UC recipients. I questioned the Chancellor about other legacy benefits, incl for carers and those with disabilities, yet he said the boost was targeting only those working. See legacy benefit update.

10. Chancellor commits to looking at helping mortgage prisoners. I've long campaigned for help for the 200,000+ long-term victims of the 2007/08 financial crash who've been locked into hideous-rate mortgages. While nothing concrete came, when I questioned Rishi Sunak the mood music was positive. See Chancellor commits to helping mortgage prisoners.

For more, see our full Budget round-up or watch the full interview on the ITV Hub.

Amazon £5 off £20 and 'free' £6 code for some. Are you eligible for one of four 'free' Amazon credit offers?

MUST READ: 200,000 women aged 65+ now due an avg £13,500 in underpaid state pension. We've been part of a campaign on this for a year, with successes as big as £82,000. Now the Govt says some will get payouts automatically. Who'll likely get those auto payouts? Those who didn't get a reassessment due to a big IT glitch, incl women who hit 80 and missed out on an uplift, women whose husbands turned 65 after Mar 2008 and those whose pensions should've increased when their husbands died. Who still needs to claim? Those whose husbands turned 65 before 17 Mar 2008 and women who got divorced after they retired. It's complex, so read our full Are you owed £10,000s in pension back pay?

Mother's Day deals, incl 100 M&S flowers £20 delivered & totally FREE personalised photo postcard. Plus how to treat mum without spending. It's THIS Sunday - see our full Mother's Day round-up.

M&S to close current accounts, so a reminder to all, FREE £100+ bank switch deals are still on. M&S Bank has just said it'll close all its current accounts by Aug affecting possibly 250,000+. Yet other banks are paying for new custs to switch right now, so our view is don't wait. The most similar account to M&S is First Direct, which offers a free £100* to newbies switching to it, a £250 0% overdraft, and a linked 1% account. As it's a sister bank to M&S, for its custs to count as 'new' you have to have had your M&S account before Jan 2018 to get the free cash. If not, see our full free cash for switching info and M&S to close bank accounts news story.

'Secret' shoe outlets, eg, £12 kids' Converse (norm £37). Some high street chains flog slightly scuffed and ex-display footwear online at huge discounts via little-known outlets, but stock's limited. Walk this way for how to find 'em

New. Now three borrowing credit cards give 20mths at 0%. A 0% spending card, used right, is a totally free way to borrow over the longer term. Yet don't use it for willy-nilly spending, only do it if you NEED to borrow for a planned, budgeted for, affordable buy (eg, a new fridge). There are now three top deals, so the best thing to do is check which 20mth 0% card you're most likely to be accepted by out of the new Barclaycard*, Virgin Money* and Sainsbury's Bank* (which gives up to 20mths 0%). Golden rules: Always pay at least the min monthly payment, clear the debt before the 0% ends (if not, they're all 21.9% rep APR) and don't bust your credit limit. Full explanation, plus details of a couple of other up-to-20mth cards, in 0% Spending Cards (APR Examples).

BLAGGED FOR MSE

- Hot Diamonds 40% off EVERYTHING code Ends 16 Mar

DID YOU MISS?

- 2m have claimed working-from-home tax rebate. Have you?
- Freebies for NHS workers - coffee, £15 car check & more
- Calvin Klein specs £39 delivered (norm £160)
- Martin reveals psychology behind 'free trial' subscriptions
- 16 free or cheap kids' book tricks, eg, hidden Apple freebies

New. The cheapest broadband of the year - just '£13/mth' incl phone line rental and it's from BT-owned Plusnet. How much are you paying?

If we've said it once, we've said it 100 times. The way to cut broadband bills is to pounce on short-lived promo deals, which often have cash or voucher incentives. And just launched is the cheapest broadband deal we've seen since last July. It's from Plusnet, which is a subsidiary of BT, and has one of the best customer service feedback ratings of the cheaper firms. If you're one of the millions of people out of contract, it's worth checking now what you pay. Many of you aren't on any faster speeds than this 10Mb deal, but are likely paying around three times as much. If that's you, switch...

TOP NEWBIES' HOME BROADBAND & LINE CHEAP DEALS Eligibility depends on postcode, so all links go via our broadband comparison, which shows whether you can get it
DEAL + EQUIV COST (1)	HOW GOOD IS IT?
BENCHMARK: Many pay £30-£45/mth for standard speeds	Terrible value. Even if you don't want to switch, use the prices below to haggle.
New (on for 1 wk). Plusnet 12mth contract MSE Blagged - 10Mb basic speed £12.74/mth MSE customer service rating: 'Good'	The year's cheapest broadband & line deal. Apply via this Plusnet 10Mb link and you pay £18.99/mth, but we've blagged it so you'll be AUTOMATICALLY sent £75 on a prepaid Mastercard within 45 days. Take that off the cost and it's equiv to £12.74/mth over the 1yr contract (though there's an expected 4-5% price rise in Jun, which'll likely add about 90p/mth - even with that, it's super-cheap).
Shell Energy 12mth contract MSE Blagged - 35Mb speed fibre £17.83/mth MSE customer service rating: 'OK'	Cheapest FIBRE broadband & line deal. Apply via this Shell 35Mb fibre link and you pay £21.99/mth, but we've blagged you an AUTOMATIC £50 bill credit, giving you 2mths+ free (it can take a few months before it's credited to your bill). In total, that's a £213.88 outlay over the 1yr contract, equiv to £17.83/mth.
Ends Thu. Vodafone 24mth contract - 63Mb fast fibre £19.84/mth MSE customer service rating: 'OK'	Cheapest FAST fibre broadband & line deal. Apply via this Vodafone 63Mb link and it's £24/mth, but you'll get an email within 4mths letting you choose a £100 Amazon, Tesco or M&S vch (don't forget to choose). If you'd spend that anyway, factor it in and the cost is equiv to £19.84/mth over the 2yr contract (there will be an 4.5% price rise in Apr, which will add £1/mth-ish).
Ends Sun. Virgin Media 18mth contract - 108Mb mega-fast £21.23/mth MSE customer service rating: 'OK'	Cheapest MEGA-FAST fibre broadband ONLY deal (no phone line). For serious speeds and no landline (a plus for many), apply via this Virgin Media 108Mb link and it's £24/mth, but you can claim a £50 Amazon vch (it's not automatic, so don't forget). If you'd spend that anyway, factor it in and the cost is equiv to £21.23/mth over the 18mth contract. This deal is only avail to 52% of households (you're told when applying).
Customer service ratings are from our Feb poll, and are relative as few broadband firms set the service world alight. (1) To compare, we use 'equivalent costs' - adding all costs, deducting promo credits and averaging over the contract.

Firms can only advertise speeds if 50%+ of customers get that at peak times. All providers above also tell you the estimated max you're likely to get before applying. Do check your current speed and see our 8 speed boost tips.
Switching usually means about 2hrs of downtime. You're told the switch time in advance and it's often quick.
Engineers won't usually need to visit, though they may with some switches involving Virgin. About 60% of Virgin custs won't need a visit (if in this group, you're told BEFORE signing up). Of the remaining 40%, an engineer may need to visit your home or may just need to visit the local exchange, though you won't know which at sign-up. Some leaving Virgin may need a new line installed if they don't have an Openreach one (it supplies most other firms) - currently that may be delayed as it's prioritising urgent issues, though engineers can visit (obeying social distancing rules) during lockdown.
Be warned, most firms hike prices a little during your contract. If your contract pre-warns you, you're stuck with the rise. If not, most let you leave penalty-free within 30 days - though do check at the time to see if you can beat your current deal, as hikes tend to be small. We've noted in the table above where we know firms plan to raise prices.

FREE solicitor-drafted wills if you're 55+ (norm £150+). Book now to avoid missing out. Mar is Free Wills Month in many areas across the UK - get your skates on and reserve your spot, as we're told some areas are already booked up, and others are filling up fast. See Free Wills Month for full info.

Hot Diamonds 40% off EVERYTHING code. MSE Blagged. Also valid on its outlet. Hot Diamonds

COUNCIL TAX REFUND SUCCESS OF THE WEEK:
"Just want to say a huge thank you to Martin for his info on council tax exemption for people diagnosed with severe mental impairment. I contacted my mum's local council, and she received a refund of just under £2,500 and is now exempt. Had I not seen this I would never have known about it."
(Send us yours on this or any topic.)

Record £2bn more saved in Premium Bonds in a month - but could their popularity lead to a rate cut? Read our full Premium Bonds too popular? analysis. Related: Are Premium Bonds worth it?

180 hay fever tablets for £4.79. Useful as the pollen count's rising. Cheap hay fever meds

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AT A GLANCE BEST BUYS

Longest 0%: Sainsbury's Bank up to 29mths 0%, 3% or 4% fee - min £3 (check eligibility / apply*) (21.9% rep APR)
No-fee 0%: Santander 18mths 0%, no fee (check eligibility / apply*) (20.9% rep APR)

Cheapest good-service deal: Pure Planet, save £223/yr
Cheapest big-name deal: E.on, save £221/yr
Cheapest top-service deal: So Energy, save £211/yr
Cheap big-name deal: British Gas, save £196/yr
Want us to help you pick a tariff and switch you yearly? Try MSE Pick Me A Tariff Every Year

Savings include bill credits and £25 MSE cashback. Assumes typical use vs the new price cap from Apr. Links go via Cheap Energy Club

Top easy-access: Marcus 0.5%, min £1
Top one-year fix: OakNorth Bank 0.58%, min £1

Get comparison site quotes in this order:

Cheapest for £5,000-£7,499: Ratesetter (check eligibility / apply*) (2.8% rep APR)
Cheapest for £7.5k-£15k: Cahoot (check eligibility / apply*), TSB (check eligibility / apply*) or Ratesetter (check eligibility / apply*) (2.8% rep APR)

Standard b'band & line rent: Plusnet equiv £12.74/mth
Fibre b'band & line rent: Shell Energy equiv £17.83/mth
Superfast fibre b'band & line rent: Vodafone equiv £19.84/mth

Free £125 for switching + 1% regular saver: HSBC
Free £100 for switchers + top service: First Direct

Up to 3GB data: Lebara, £5/mth for 3GB, unltd mins & txts
4GB-9GB data: Three, equiv £5.09/mth for 8GB, unltd mins & txts
10GB+ data: Smarty, £7/mth for 10GB, unltd mins & txts

CAMPAIGN OF THE WEEK

Should the Lifetime ISA (LISA) withdrawal penalty be permanently reduced? LISAs give you a 25% bonus on savings of up to £4,000/yr. But if you withdraw cash for any reason other than to buy a first home or for retirement, you're usually charged 25% of the amount withdrawn - and the stark maths of this penalty means you lose the bonus plus 6.25% of what you originally put in (see full info in Lifetime ISAs). During the pandemic, the Government's temporarily cut the withdrawal penalty to 20%, meaning you just lose the bonus. That reduction's due to end on 5 Apr, so investment platform Hargreaves Lansdown has called for it to be made permanent. If you agree and want to show your support, you can sign its petition.

THIS WEEK'S POLL

Do you have a will? If not, why not? If you want to dictate where your assets go when you die, you need a will - they can be made cheaply, and sometimes for free. But do you have a will, and if not, why not?

More MoneySavers think they'll be worse off than better off in a year's time. Last week, we asked whether you think you'll be better or worse off this time next year - over 3,200 people responded. Overall, just 27% said they expect their finances to improve, while 44% believe they'll be worse. Younger MoneySavers were more optimistic about the future - 43% of under-35s feel they'll be better off, compared to just 20% of over-65s. See full financial forecast poll results.

MONEYSAVING NEWS

- Top story: Guarantor loan complaints overtake PPI for the first time in over a decade
- Homebuyers' transaction tax holiday extended in Wales but not in Scotland

MONEY MORAL DILEMMA

Should I tell my great aunt I couldn't cash her cheque? My mum's aunt very kindly sends me a cheque every Christmas. This year, I tried to deposit it via my banking app, but was told the date wasn't legible and to contact her to ask for another cheque or a bank transfer. I feel a bit awkward telling her this - should I just wait and see if she notices I haven't cashed it? Enter the Money Moral Maze: Should I tell my great aunt I couldn't cash her cheque? | Suggest an MMD | View past MMDs

MARTIN'S APPEARANCES (WED 10 MAR ONWARDS)

Wed 10 Mar - Ask Martin Lewis, BBC Radio 5 Live, 1pm. Listen again
Thu 11 Mar - This Morning, phone-in, ITV, 10.45am
Thu 11 Mar - The Martin Lewis Money Show Live, ITV, 8.30pm
Tue 16 Mar - House of Lords Financial Exclusion Select Committee follow-up enquiry, Parliament TV, 2pm

MSE TEAM APPEARANCES (SUBJECTS TBC)

Sat 13 Mar - BBC Radio Leicester, Mid-morning with Summaya Mughal, from 11am
Mon 15 Mar - BBC Radio Manchester, Drive with Phil Trow, from 2.20pm
Tue 16 Mar - BBC Radio Cambridgeshire, Mid-morning with Jeremy Sallis, from 12.40pm

BACK TO SCHOOL, BACK TO MONEYSAVING

That's all for this week, but before we go... on Monday many kids in England went back to school, after weeks of learning at home. So, we asked you to share how you cut those back-to-school costs. Top tips ranged from buying 'pre-loved' school uniform and bulk-buying Ribena cartons to making DIY jelly pots. Yet one MoneySaver simply said: "I'll be saving on the several snacks my son would have each day with ready access to the kitchen". For the full list of tips, and to add your own, see our Back to school MoneySaving Facebook post.

We hope you save some money, stay safe,
The MSE team

Important. Please read how MoneySavingExpert.com works

We think it's important you understand the strengths and limitations of this email and the site. We're a journalistic website, and aim to provide the best MoneySaving guides, tips, tools and techniques - but can't promise to be perfect, so do note you use the information at your own risk and we can't accept liability if things go wrong.

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 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.

More about MoneySavingExpert and Martin Lewis

What is MoneySavingExpert.com?
Founded in February 2003, it is now the UK's biggest consumer help website, with more than 16 million users each month and about 7.5 million receiving this email. In September 2012 it became part of the MoneySupermarket Group PLC. Its focus is simple - saving cash and fighting for financial justice on anything and everything. The site has over 80 full-time staff, more than a third 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 Lewis OBE is the founder and executive chair of MSE, as well as the founder of the MMHPI charity. He's an ultra-focused MoneySaving journalist and consumer campaigner with his own prime-time ITV programme The Martin Lewis Money Show, Radio 5 Live Wednesday show Ask Martin Lewis and weekly slot on This Morning, among others. More info: See Martin Lewis' biography.

What do the links with an * mean?

Any links with an * 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 products at all and the editorial line (the things we write) isn't changed due to them. 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:

Unaffiliated web-addresses for links in this email

firstdirect.com, barclaycard.co.uk, virginmoney.com, sainsburysbank.co.uk, santander.co.uk, moneysupermarket.com, confused.com, comparethemarket.com, gocompare.com, ratesetter.com, cahoot.com, tsb.co.uk

Financial Conduct Authority (FCA) Note

MoneySupermarket.com Financial Group Limited is authorised and regulated by the Financial Conduct Authority (FRN: 303190). MoneySavingExpert.com Ltd is a company registered in England and Wales. Company Registration Number: 8021764. Registered office: One Dean Street, London, W1D 3RB. MoneySavingExpert.com Limited is an appointed representative of MoneySupermarket.com Financial Group Limited.

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