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Saved cash? Shout it from the rooftops.If this email's ever helped you, please forward it to friends and suggest they get it via moneysavingexpert.com/tips |
| Earn whopping 3%+ interest via new automatic saving app This isn't about turning the Terminator into a bank (not yet anyway)... but Chip, an app that uses AI or machine learning to analyse your spending habits, works out what you can afford to save, and puts your spare cash aside for you. It's aimed at younger people, though anyone can use it. We've blagged a corking rate, so decided it was time to run through pros (easy saving) and cons (not covered by the usual savings safety protection). Chip app - get a min 3% interest for a year. Normally the Chip app's* savings interest starts at 0%, yet newbies who use our MSE3 code (10,000 avail) start on 3% interest for a year. It then rises by 1 percentage point for a year per person you recommend who starts saving through it, up to a max 5%.Interest accrues weekly, but is paid quarterly, and you can withdraw money whenever you want. On rate alone this more than DOUBLES the 1.36% top easy-access savings. - How does Chip work? You need to give Chip 'read-only' access to your current account. It then analyses your income and spending then every 4-7 days calculates what you can afford to save, and uses a direct debit to move that to a separate 'savings' account, without you noticing. The average amount put aside is £25 five times a month, the max is £100 (so £500/mth). You can also manually move an additional max £100/day up to six times a month. - What if it makes me overdrawn? It'll cover your fees and pay £10 compensation - though you can choose to allow it to take you overdrawn (for example if you had a 0% overdraft). - Is the whole thing worth bothering with? Some rave about robo-savings, but our feedback is limited, and part of doing this is to help us learn so please feed back. The rate is definitely good though. Is my money safe in Chip savings? Chip isn't a bank, it's an agent of 'e-money provider' Prepaid Financial Services (PFS), which is regulated by the Financial Conduct Authority. Your money is held in a ring-fenced Barclays account. Under e-money regs if Chip or PFS went bust your money remains in Barclays together with any interest already paid to you, though you may end up paying insolvency fees (likely small). In the unlikely event Barclays went bust, your money ISN'T protected by the usual £85,000 savings safety limit, so you'd lose it. This app currently has no way of making money - the interest comes from its marketing fund. Its aim is to gain market share then make money offering users access to other services in future, such as overdrafts and credit cards. Of course it may change its savings offering in future too. We've done all the checks we can, but you need to accept there are always unknowns with a new concept like this, so you might want to consider how much you keep in there. Or earn up to 5% via switching your current account. For fully protected savings, you can switch to Nationwide's FlexDirect current account, which pays 5% for a year on up to £2,500. Or many current accounts have linked 5% savings where you can put up to £200-£300/mth. These include First Direct, M&S Bank (both pay you £100-£125 to switch), HSBC and Nationwide. PS: There are other robo-savings apps with different interest models. See our App-based Banking guide for more. |
| BT warning. Price hikes hit in 3 weeks - NOW's the time to switch and save £300/yr. BT's broadband, call and sport prices are rising up to £36/yr in Jan, hitting millions - many of whom already overpay. Eg, BT's fibre b'band & line rental costs £50/mth, yet the cheapest elsewhere is £25/mth. Our Broadband Unbundled tool finds the cheapest deals in your area. In contract? Give notice within 30 days of receiving BT's price hike email and you can leave penalty-free. Year's 2for1 cinema tix for £1.50ish, incl Star Wars. A reminder of the Meerkat Movies trick for Tue/Wed at Odeon, Vue, Cineworld etc. Even works on Boxing Day. Cinema trick Get up to 50% off Xmas decorations, wrapping & gifts. Some BIG names are already cutting prices. Find out who in our full Xmas decorations sale. £43 car brrr-eakdown cover for 15mths (ie, two winters) incl home start & onward travel. MSE Blagged. Breakdowns are more likely in winter, especially with the recent freeze, so we've blagged 15mths of AutoAid* cover for the price of 12, for £43.31. It covers you, your spouse o r civil partner, in any car. The firm's got good feedback and changed its claim service so you no longer need to pay upfront, then reclaim. Similar AA/RAC cover can cost £100+. Full info in Cheap Breakdown Cover. £144 of No7 for £39 incl hot cloth cleanser, mascara, lip gloss. Boots 'Star Gift' available from Fri. No7 'O2 charged me 100x more than it said for roaming.' Has it happened to you? The mobile phone giant wrongly told some they'd pay 0.99p not 99p per min. But one MoneySaver's won a refund. |
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| We often say switching is the best way to make money from your bank. Yet we know many of you, especially couples, have a second account for bills, and there's a way to make these work better. For a small fee they give cashback on bills such as energy and council tax, often adding up to £100+/yr. Plus you don't need to use their switching services and close your old account - though you need to pass a credit check. Earn 1-3% cashback on bills (including some mortgages). Santander 123 Lite* has a £1/mth fee yet pays 3% on phone, broadband, mobile and TV bills, 2% on energy, and 1% on wa ter, council tax and Santander mortgages (max £10/mth on mortgages, not on buy-to-let). You must pay 'em by direct debit (at least two must be active), pay in £500+/mth and log on to online/mobile banking every 3mths. Which should you go for? If you've a Santander mortgage, 123 Lite's likely to be best. If you don't have one, it's tighter. With what we consider average bills, 123 Lite pays £72 after the fee, NatWest £66. With high bills, NatWest's £135, Santander £132. Your winner is likely to depend on how much you spend on broadband/TV vs council tax. Happy to change your main bank account? You could earn more. You can earn up to £125 in cash or vouchers, plus get ongoing rewards for a year, by switching account. Yet unlike those above, you have to do a FULL switch to get them, which includes closing your old account. Full info in Best Bank Accounts. |
| Warning. Shops' deadlines for free or cheap Christmas deliveries are fast approaching. See store-by-store cut-offs. Going abroad this Xmas? Find top currency rates from 30+ bureaux via our comparison tool. Eg, on Tue, £1 got you €1.12 via our tool but just €1.03 at Gatwick Airport. See TravelMoneyMax. New. Martin's 'How to teach your kids about debt' video. Recorded at the Young Money charity teachers' conference. Martin's 'Teach your kids about debt' video. Related: Martin's 'Four things you need to be successful' video. £8 A3ish 2018 photo calendar (norm £22). MSE Blagged. Good Xmas gift. Photo calendar Sainsbury's shopper? Get £50 Nectar bonus just for paying by plastic. Apply by Thu 28 Dec for this Sainsbury's Bank (eligibility calc / apply*) credit card and get 1,000 bonus Nectar pts - worth £5 - each time you spend £35+ in Sainsbury's in the first 2mths (max 10,000 bonus, worth £50). You can even max the bonus by doing a big shop and splitting your shopping into chunks. Pay it off IN FULL each month if you can, although the card also gives 31mths 0% on spending. Clear the card before the 0% ends or it's 18.9% rep APR. Full info: Credit Card Rewards (APR Examples). Body Shop code gets 40% off + £15 body butter gift when you spend £15. One of the best codes all year, online only, gift only until Sun. Body Shop |
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| AT A GLANCE BEST BUYS
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| Getting travel insurance EARLY matters: '£2k back after cancer diagnosis' Travel insurance doesn't just cover when you're abroad, but from the moment you take it out. Rita's tale is a key reminder: "My husband got diagnosed with cancer so we cancelled three holidays - but got back £1,847 as I followed your tips and got insurance early. Thanks." So if you, a travelling companion or family member falls ill, or you need to cancel for many other reasons BEFORE you travel, you're covered. Over 65 or have a pre-existing condition? You often need to look beyond standard policies. - Over 65? Prices can rocket, yet there are competitive options from £17/yr. See Over-65s' Travel Insurance. - Have medical issues? Always declare them. If getting cover's tough, see Pre-Existing Medical Conditions Help. Travelling in the EU? Carry a free EHIC. The European Health Insurance Card entitles you to emergency state-funded medical treatment at the price a local pays, so if free for them it's free for you. See our Free EHIC guide for how to get one, and check if yours is still valid, as 5m+ were due to expire this year. |
| FREE video message from Santa. He's gone digital and now sends personalised videos. Santa video £39 beauty box, incl Nails Inc, Smashbox (£139 indiv). MSE Blagged. Tailored beauty box incl make-up and skincare products. 2,000 avail. Beauty-full URGENTLY CHECK YOUR MORTGAGE - SUCCESS OF THE WEEK Virgin Wines 12-bottle mixed case, incl prosecco and two flutes for £56 (norm £138). MSE Blagged. Newbies only, via subscription. Virgin Wines. Pls be Drinkaware. |
| THIS WEEK'S POLL What have you switched in 2017? Sadly, the best deals rarely come to loyal customers. Moving company to a new, hot promotional deal is often (not always) the way to slash costs. So we wanted to know what you've switched over the past year to secure a better deal. What have you switched in 2017? Older folk more likely to give older food a chance. Last week our poll asked whether you eat food past its 'best before' date. Over 14,000 responded, and it seems age matters - while 57% of men and 46% of women aged over 65 said they ignore best before dates altogether, that was true of just 29% of men and 31% of women under 25. Full breakdown in Best before date poll results. |
| MONEY MORAL DILEMMA How can I stop my friend 'forgetting' to buy rounds? I'm going on a trip with friends to Germany this Christmas. When we buy rounds one person always forgets when it's their turn. I suggested starting a kitty for the trip, but another complained. What's the best way to keep things fair? Enter the Money Moral Maze: How can I stop my friend 'forgetting' to buy rounds? | Suggest an MMD | View past MMDs THE QUICKIES - Debt-Free Wannabe chat of the week: Things you never thought you could sell |
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| MARTIN'S APPEARANCES (WED 13 DEC ONWARD) Thu 14 Dec - Good Morning Britain, ITV, Deals of the Week, 7.40am. See previous MSE TEAM APPEARANCES (MOST SUBJECTS TBC) Wed 13 Dec - BBC Cumbria, Money Talks with Ben Maeder, from 6pm |
| QUESTION OF THE WEEK Q: An elderly relative had home insurance through her building society and was being charged an exorbitant £660/yr. I did a comparison to see how bad it was and found the same insurance for £137. Can I claim for overcharging? Paul, by email. MSE Tony's A: Sadly, there's no recourse unless the building society said your relative must arrange her home insurance with it - that is a fib and mis-selling. Sadly, lots of insurers, banks and building societies fleece existing customers with sky-high premiums - which is why we've been shouting for years that loyalty never pays. Everyone, and I mean everyone, should get alternative quotes at renewal to compare. It only takes a few minutes - see our Cheap Home Insurance guide for full info. Please suggest a question of the week (we can't reply to individual emails). |
| THE COST OF CHRISTMAS PAST That's all for this week, but before we go... ever wondered how the cost of Christmas has changed over the years? Pick any year from 1968 and a nifty tool shows the cost of Christmas dinner, that year's must-have toy and how much you'd have forked out for a tree. In 1968 it was £2.70 for the meal and £2.93 for a Hot Wheels race track. Pick your year and enjoy a blast from the past. 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 idmobile.co.uk, virginmedia.com, productsandservices.bt.com, three.co.uk, giffgaff.com, unshackled.com, mobiles.co.uk, billmonitor.com, getchip.uk, autoaidbreakdown.co.uk, santander.co.uk, natwest.com, sainsburysbank.co.uk, barclaycard.co.uk, confused.com, gocompare.com, moneysupermarket.com, directline.com, aviva.co.uk, zopa.com, holidaysafe.co.uk, coverwise.co.uk, leisureguardlitetravelinsurance.com, apple.co.uk Financial Conduct Authority (FCA) Note MoneySupermarket.com Financial Group Limited is authorised and regulated by the Financial Conduct Authority (FRN: 303190). The registered office address of both MoneySupermarket.com Group PLC and MoneySupermarket.com Financial Group Limited (registered in England No. 3157344) is MoneySupermarket House, St. David's Park, Ewloe, Chester, CH5 3UZ. MoneySavingExpert.com Limited is an appointed representative of MoneySupermarket.com Financial Group Limited. To change your email or stop receiving the weekly tips (unsubscribe): Go to: www.moneysavingexpert.com/tips. |
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