Martin Lewis tonight on savings

[marlinmunro]

I see that irritating man Martin Lewis is on the box tonight, informing us how to deal with our savings. He should have a degree in stating the bleeding obvious. I understand he is going to tell us other ways to protect our savings buying luxury items and other gems of wisdom. I take it the purchase of Porsche's and Ferrari's is not on the agenda.

[Hitch78]

1/10 (point awarded for use of beer swilling smiley)

Bleedin obvious maybe, but most people would benefit from following his advice.

[paulrockliffe]

Please don't get me started on the base rate effect on savers!

I sold an inherited house in October and have a stack of cash depreciating rapidly in real-world terms, the base rate cuts have cut people's mortgage payments in some instances, but haven't stimulated the economy at all as the banks aren't lending and I'm paying the price. My only compensation is that the house is depreciating faster than the cash and a lot of it was locked away at fixed interest rates for 12 months, but I'm still getting bent over a barrel in the long-term!

I got a letter from Egg announcing that my online saving rate has been cut to 2%, it was 6% 12 months ago. Fortunately they only have 37 pence of my cash!

Bah!

[tonyvid]

But the house was a freebee, the money in the bank is not going down as fast as the house would have been so it is not all gloomy.

Glass half full

[jamoor]

Hitch78 said:

1/10 (point awarded for use of beer swilling smiley)

Bleedin obvious maybe, but most people would benefit from following his advice.

Agree, he is an excellent resource

[$nake eye$]

I must admit, Martin Lewis is a legend and has saved so many people buckets of cash. Look at the reclaiming bank charges! That wasnt obvious.. he supplied a template to send to the bank, then you just waited for the cheque to arrive! There might have been a slight glitch with the Icesave investments, but all in all, a top bloke and a superb website

www.moneysavingexpert.com

[mcflurry]

Martin doesn't say, "don't buy a Porsche or Ferrari". What he says is, "if you want a Porsche or Ferrari then get the best deal on it"

Oh - and use a clubcard when fueling it

[NoelWatson]

marlinmunro said:

I see that irritating man Martin Lewis is on the box tonight, informing us how to deal with our savings. He should have a degree in stating the bleeding obvious. I understand he is going to tell us other ways to protect our savings buying luxury items and other gems of wisdom. I take it the purchase of Porsche's and Ferrari's is not on the agenda.

he made a good call on the Icelandic banks

[sa_20v]

Don't be fooled, he currently makes a fortune from the personal finance sector...

[Torquey]

He might be stating common sense but there are a lot of people out there that dont have the common sense in their head.

[Chris_H]

[quote=$nake eye$]I must admit, Martin Lewis is a legend and has saved so many people buckets of cash. Look at the reclaiming bank charges! That wasnt obvious.. he supplied a template to send to the bank, then you just waited for the cheque to arrive!

[/quote]

I have nothing against Martin Lewis, however he was not the one who got the ball rolling with regard to claiming back bank charges. That was instigated by these people. I know because I did it via their templates before Martin Lewis cottoned on. Due to the membership of his website and his media profile, he had the greater effect though.

[becksW]

I don't have anything against this guy, it may be stating the obvious to some but not too many. I have listened to him a few times and he nearly always has something that I wouldn't have realised etc.

[scotal]

sa_20v said:

Don't be fooled, he currently makes a fortune from the personal finance sector...

He also gives financial advice which he's not qualified to give (I appreciate most of what he says is common sense, but if an adviser gave some if the advice he gives on TV the FSA would fine them out of existence.) Oh and some of his advice on mortgages on the show he did last summer was plain wrong.

[Zen.]

He also made a good call on advising people not to buy high street vouchers as gifts for christmas, explaining that there was a possibility that if the administrators stepped in you may not be able to redeem them, I was unaware of this before.

[BoRED S2upid]

Good job ive not got many of these savings things your talking about. Sounds like its pointless having them.

[Bolebroke]

business just being sent from money from germany....barclays depo rate in euros ? 0.10%..

[elster]

scotal said:

sa_20v said:

Don't be fooled, he currently makes a fortune from the personal finance sector...

He also gives financial advice which he's not qualified to give (I appreciate most of what he says is common sense, but if an adviser gave some if the advice he gives on TV the FSA would fine them out of existence.) Oh and some of his advice on mortgages on the show he did last summer was plain wrong.

He generally makes suggestions on how to get the best deal.

I think anyone who has life experience and common sense can comment on these. If he is saving people money, good on him. I know he is not running this as a charity, but at least he is not "sponsored by Aviva" or whoever like some other advisors.

[JMT1]

elster said:

scotal said:

sa_20v said:

Don't be fooled, he currently makes a fortune from the personal finance sector...

He also gives financial advice which he's not qualified to give (I appreciate most of what he says is common sense, but if an adviser gave some if the advice he gives on TV the FSA would fine them out of existence.) Oh and some of his advice on mortgages on the show he did last summer was plain wrong.

He generally makes suggestions on how to get the best deal.

I think anyone who has life experience and common sense can comment on these. If he is saving people money, good on him. I know he is not running this as a charity, but at least he is not "sponsored by Aviva" or whoever like some other advisors.

The point is though that he is not an "advisor" - he's a journalist.

[elster]

JMT1 said:

elster said:

scotal said:

sa_20v said:

Don't be fooled, he currently makes a fortune from the personal finance sector...

He also gives financial advice which he's not qualified to give (I appreciate most of what he says is common sense, but if an adviser gave some if the advice he gives on TV the FSA would fine them out of existence.) Oh and some of his advice on mortgages on the show he did last summer was plain wrong.

He generally makes suggestions on how to get the best deal.

I think anyone who has life experience and common sense can comment on these. If he is saving people money, good on him. I know he is not running this as a charity, but at least he is not "sponsored by Aviva" or whoever like some other advisors.

The point is though that he is not an "advisor" - he's a journalist.

He is a man who passes on information to others showing them the different options stating which is the best.

This is an advisor

[agentsmith]

well he's saved me a stload over the years... most of my savings are still earning 7.15% or 7.20%. Not to mention all the utilities, broadband, insurances. Always use common sense (if you have it), but seriously a lot of what he promotes are good deals and common sense.