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DON'T believe the fake 'Martin Lewis' or 'MSE' ads |
New. Top 5.2% easy-access cash ISA pays more than top savings - highest we remember since 2008 Let's not overcomplicate it, a cash ISA is just a savings account you can put up to £20,000 in per tax year and the interest is NEVER taxed. Once in, it stays tax-free year after year if you don't withdraw it. Just like normal savings, they can be easy-access, notice accounts or fixed - that's because they are normal savings, just inside a tax wrapper. The top cash ISAs normally pay less than top normal savings, but currently your money really looks nicer in an easy-access cash ISA, because the top payer beats even the top open-to-all easy-access normal savings. So even if you don't pay tax on savings - as you earn under the Personal Savings Allowance (eg, basic 20% rate taxpayers can earn £1,000/yr savings interest without paying tax) - it's still worth looking at as the interest's higher. Though the top product requires some explanation...
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Warning: Lloyds, Halifax, Bank of Scotland customer? Your overdraft may be upped to 50%. Lloyds news A month's 'tailored' dog food £3.60 (normally £36) via 90% off code. MSE Blagged. A fraction of what most pay just for off the shelf tins in a supermarket. You can cancel after the month if you want. Newbies only. Tails Need extra cash? Grab it from a bank! Three pay you a FREE £175 & more to switch. Last week our get paid to switch bank email was huge, as the three top payers all now give a FREE £175... Top all-rounder: Santander Edge* also has 7% linked savings & 1% bills cashback for £3/mth. No. 1 service & fee-free: First Direct's* rated 91% 'great' & has 0% overdraft. Perky account: Club Lloyds gives extras such as 1yr's Disney+. See them fully compared in last week's email.
Top 5.1% easy-access savings. App-only bank Chase* (part of giant JPMorgan) is paying 5.1% (on up to £1m) to new customers (& existing ones with under £50,000 saved on 2 May), easily the best open-to-all account, though currently beaten by the top cash ISA. Just open its free current account (it only does an ID check, not a credit check & you needn't switch to it) to access the savings. It also gives 1% spending cashback & has a top debit card for overseas. More info: Top savings. 65 FREE summer festivals and carnivals, find those near you. With our Free festivals guide. New. Cheapest iPhone 15 (the latest) we've seen '£32/mth'. Newbies to iD Mobile (uses Three's signal) can get an iPhone 15 (128GB) on a 24mth contract with 100GB/mth data via Carphone Warehouse. You pay £49 upfront, then £30/mth (this'll rise each April by inflation + 3.9%), and you can CLAIM (don't forget) a £20 Amazon or Currys voucher. All in, it's £749 over the 2yr contract (equivalent to £32/mth), while just the handset from Apple is £799. PS: The retailer's responsible for the handset, iD Mobile for the contract. Find other cheap handsets/Sims: Cheap Mobile Finder. 'I saved £160/yr using your car insurance tool three weeks before renewal.' Our success of the week comes from Helen: "My motor policy renewal quote increased by £230 this year. I used your Compare+ Car Insurance tool to compare prices three weeks before renewal and managed to reduce my insurance costs by £159. Despite trying to haggle with my original insurers, who've given great customer service this year, I couldn't save half that amount so I've moved. Thank you. It's nice to feel someone's on my side for a change." If we've helped you save (on this, or owt else), send us your successes. Tonight (Tue) ITV 8pm. THE MARTIN LEWIS MONEY SHOW LIVE SUMMER SPECIAL |
The credit card best balance transfer battle is beefing up It's big money: 'I saved nearly £1,000/yr interest transferring to a new 0% card' After months with no new top balance transfer cards, the market has sprung to life. If you pay interest and can't afford to clear your existing credit card debt, you can't afford not to check if you can get a 0% balance transfer. A balance transfer is where you get a new card, which pays off the debt on your existing card(s) for you, so you owe it instead, but interest-free. This way, more of your repayments clear the actual debt, rather than just cover the interest. As Trevor emailed us on Wednesday: "Hi Martin & co. I was paying £300 for two credit cards, costing me £76/mth interest. I took out the Virgin Money deal with £5,299 credit, and transferred both card balances to it for a £164 fee. With 28mths 0%, I'll have it all paid off in 15mths, saving me a bankroll. Bangin'! Thanks for all the advice, keep it coming." [A saving of nearly £1,000/yr in interest.] Now two key tips first before the best buys... 1. Applying hits your credit file - use an eligibility calc instead. Our 0% eligibility calc shows your acceptance odds for top cards, so you can home in on those most likely to accept you before applying, to minimise the credit file impact. This is especially important for POOR CREDIT SCORERS - plus we include specific cards that may accept you. 2. Go for the LOWEST FEE available within a 0% time long enough to clear your debt. Generally, the longer the balance transfer, the bigger the fee. So if you can clear your debt quicker, go for a shorter deal to minimise fees. Unsure? Play safe & go long.
Quick balance transfer FAQs (click links for Martin's answers) |
TWO NEW PODCASTS: 1) Banks are paying switchers big bucks, all questions answered + cheap wedding tips + do you pay tax on the state pension? 2) Renters' rights - can you challenge a rent rise? This week, there's both the normal The Martin Lewis Podcast and, as already discussed above, its strange new cousin The Not The Martin Lewis Podcast. Listen via BBC Sounds | Spotify | Apple or wherever you like to get your Martin fix. Free West End theatre ticket for kids with a paying grown-up, for Wicked, Mrs. Doubtfire, Shrek & more. The annual 'Kids Week' promo on 50+ shows has launched, for July to Sept performances. Full info in kids' theatre tix. Are you a parent who pays for childcare? Please fill in this quick survey to help our campaigning. Last-minute Father's Day deals, including 33% off Scribbler cards and free gift cheques. If you're celebrating, it's this Sunday (16 June). See our Father's Day round-up. Are you one of 500,000+ providing 20hrs+ week of care for low/no pay? Unpaid carers are the nation's unsung heroes, looking after their loved ones, saving the NHS money, and often leading hard lives themselves because of it. As it's Carers Week, here's a reminder of the rather paltry, but still worthwhile, help available. Check whether you're missing out on Carer's Allowance worth £4,000/yr or Carer's Credit, which could boost your state pension by £1,000s. The MSE app is two - join the 1.4 million who've downloaded it. It's MSE, but appified. Download free via Apple App Store or Google Play Store. |
AT A GLANCE BEST BUYS
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THIS WEEK'S POLL Are you a renter - and how much does it cost you? Average monthly rental costs are up 9.4% across the UK, so this week we want to know whether you rent and how much your rent costs as a proportion of your income. Take your monthly income (this could be from your salary or pension, as well as any benefits) and let us know roughly what percentage of this is spent on your rent on a monthly basis. Vote in this week's poll. Almost 40% of MoneySavers have never switched bank account. Last week, we asked when you last switched your bank account - more than 3,500 of you responded. Just under one in 10 (8%) have switched in the past three months, with the keenest switchers aged under 35. Two in five (38%) say they've never switched - but with lots of free cash switching incentives on offer right now, what's stopping you? See full bank switch poll results. |
MONEY MORAL DILEMMA My friends cancelled our reunion at short notice - should they pay for my hotel? Last year, a group of friends I'd lost touch with arranged a get-together with me. We decided to do it again this year, agreed the dates and location, and said we'd book our own accommodation. Three weeks before, however, they pulled out - I'm extremely sad for the lost friendships and because no one had told me earlier. I'm now left with an expensive hotel booking I don't need and can't cancel. Should I ask the rest of the group to foot my bill? Enter the Money Moral Maze: Should I ask my friends to pay for my hotel? | Suggest a Money Moral Dilemma (MMD) | View past MMDs |
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MARTIN'S APPEARANCES (TUE 11 JUN ONWARDS) Wed 12 Jun - Ask Martin Lewis, BBC Radio 5 Live, 1pm |
PADDING OUT WITH PULSES, STRETCHING OUT ROASTS - CHEAP WAYS TO FEED A FAMILY OF SIX That's all for this week, but before we go... MSE Forumites are a helpful bunch, and over the last week they've been assisting a family of six to find ways of spending less on their weekly food shop. One savvy MoneySaver recommends making more mince-based meals - cottage pies, bolognese, chilli - and bulking them out with cheap tinned beans and pulses. A big Sunday roast can be expensive, but can reappear during the week as a 'leftover' curry, stew or casserole, then as a stir-fry, omelette filling or even pizza topping. Plenty advocated for a breadmaker, with one saying their first machine paid for itself in months, providing a ready source of pizza dough as well as the obvious loaves and rolls. Another used to have a 'new thing night' once a week to introduce their kids to something unfamiliar (and economical to prepare) - but this was always paired with a favourite pudding to sweeten the deal. If you've any top tips, let us know in our Food shop for a family of six MSE Forum thread. We hope you save some money, |
Important. Please read how MoneySavingExpert.com worksWe 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 LewisWhat is MoneySavingExpert.com? Who is Martin Lewis? 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 moneysupermarket.com, comparethemarket.com, confused.com, myurbanjungle.com, trading212.com, paragonbank.co.uk, santander.co.uk, chase.co.uk, hyperjar.com, firstdirect.com, tescobank.com, natwest.com, rbs.co.uk, virginmoney.com Financial Conduct Authority (FCA) Note MONY Group Financial Limited is authorised and regulated by the Financial Conduct Authority (FCA 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 MONY Group Financial Limited. To change your email or stop receiving the weekly tips (unsubscribe): Go to: www.moneysavingexpert.com/tips. |
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