October 1st 2023.
Martin Lewis, the nation's favourite money guru, recently took to X to advise cost-savvy consumers on how best to plan around energy expenditures for the next twelve months. He said that as of Sunday, the price cap will drop by 7%, which means that for every £100 consumers have spent previously, they’ll now be paying £93.
Lewis also warned that forecasts beyond October are likely to be 'crystal ball gazing'. He based his predictions on information from Cornwall Insight, which provides critical research into energy markets. In addition to this, the former financial journalist has also recently advised people on how to save money on their car insurance premiums as well as working out whether they’ve been the target of a scam phone call.
Lewis recommended motorists to search for new, more affordable deals and to be wary of possible early-exit fees from existing policies. One reader of Lewis’ newsletter even claimed to have saved almost £800 using the MSE’s price comparison tool.
The Money Saving Expert also offered a piece of little known advice to anyone who suspects they’ve received a scam call. He said: ‘If you need to call your bank urgently and can’t remember its number, just call 159 and it’ll put you through.’ Calling this number will then help people tell if they have received a scam call or not.
Overall, Martin Lewis has provided some useful advice and tips to help consumers save money and avoid being caught out by scam phone calls. By taking the time to review their existing plans and shop around for more affordable deals, people will be able to make the most out of their energy costs and car insurance premiums.
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