MoneySavingExpert's Money Tips Email

Martin: "Happy new year to you all. I hope it'll be better than the last health-wise, as sadly wealth-wise it doesn't look good. The cost of living crisis will run through this year (and this email) like Blackpool does through a stick of rock - inflation, energy prices, tax rises and more.

"Our job, as always, is to show you how to maximise what's in your pockets. To ease you back in, today we're tackling five pelicans - big bills (no animals were harmed in the writing of this email) - specifically choosing some where saving is easiest."

"Then later on, I'll tackle a trickier issue - is it time to fix energy bills? For now, it's over to the team..."

Can't afford to clear your credit or store card debt, so pay interest on it? Then you can't afford not to check out if you can balance transfer.

This is where you get a new credit card to repay old credit or store cards, so you owe it instead, but at 0%. Repayments then clear the debt, rather than just cover interest, so you're debt-free quicker. We've just seen a raft of new deals launch for the new year.

Important: Don't just do hit & hope applications for new cards. That puts a negative mark on your credit file (even if you're rejected). Instead use a Balance Transfer Eligibility Calculator to see your acceptance odds for top cards without affecting your future ability to get credit - so you can home in on the best to apply for.

Top newbies' 0% balance transfers Go for the card with the lowest fee in the time you're sure you can repay. Unsure? Play safe and go long
Card	Key 0% info	How good is it?
Virgin Money Best: check acceptance odds (pre-approval available), or apply* direct.	- 35mths 0% - 2.94% fee - 21.9% rep APR	Longest 0% balance transfer by far. The standout if you need the longest time to clear your debts, plus all accepted get the full time at 0%.
New. HSBC Best: check acceptance odds, or apply* direct.	- 31mths 0% - 2.7% fee (min £5) - £25 cashback if shifting £100 in first 60 days. - 21.9% rep APR	Long, definite 0% and fee offset by cashback. All accepted get 31mths at 0%. For transfers under £900ish, the cashback's bigger than the fee cost, so you're up.
Sainsbury's Bank Best: check acceptance odds (pre-approval available), or apply* direct.	- Up to 21mths 0% - NO FEE - 20.9% rep APR	Longest NO-FEE card, but an 'up to'. If you can repay quicker, this card can win as there's no fee. But you could be accepted and offered just 17mths or 13mths at 0%, unless you're pre-approved.
HSBC Best: check acceptance odds, or apply* direct.	- 20mths 0% - NO FEE - 21.9% rep APR	Longest NO-FEE card with definite 0% period. Similar to Sainsbury's above, but all accepted get the full time at 0%.

Always follow the Balance Transfer Golden Rules:

a) Clear the card before the 0% ends, or you pay the rep APR.
b) Never miss the min monthly repayment, or you can lose the 0%.
c) Don't spend/withdraw cash. It usually isn't at the cheap rate.
d) You must usually transfer within 60/90 days to get the 0%.
e) You can't transfer between two cards from the same banking group.

Full help and info, including options for poorer credit scorers, in Best balance transfers (APR examples).

The cost of a Sim - the little chip in your phone which connects you to the network and dictates your allowances - has plummeted in recent times, and especially over the last year.

If you're one of the nine million people out of contract on your mobile, it's especially worth doing a quick check to see if you can save. As David emailed us: "Bagged myself a £7/mth Sim deal - a massive saving on the £21.50/mth I was paying. Many thanks." That's a saving of £170/yr.

- Use our Cheapest Sim tool to see what you can get.
- Want to stick with your network's signal? You can select that in the options (it'll show you all firms using that network).
- Not sure how much data you use? About 3GB/mth is average unless you're a gamer or video streamer.
- Want a new handset? Use our Cheap Mobile Finder.

And deals are really cheap right now. As an example, till tomorrow (Thu) newbies to TalkMobile* (via Vodafone's signal) can get 10GB/mth of data, unlimited minutes and texts for £7/mth, but can then claim a £30 Amazon voucher. Factor it in and the deal's equivalent to £4.50/mth over the 1yr contract. How much are you paying?

It's not really a bill, but banks love current accounts as they are a gateway to all our finances, allowing them to cross-sell you lots of products. And having been quiet for much of last year, many are now willing to pay you to switch.

All require you to pay in a set amount, some just at first to get the bonus, others monthly. It's their way to encourage you to pay in your salary.

Four banks pay you to switch
Account	Key info & review link
New. HSBC Advance* Must pay in £1,500+ within 60 days	Free £150 for switchers. This one's all about the cash. See our HSBC review.
New. First Direct 1st Account* Must pay in £1,000+ within 90 days	Free £130 + top service + 0% overdraft. By far the best service rating of those paying switchers - rated 85% great. Plus many get an ongoing £250 0% overdraft. See our First Direct review.
Nationwide FlexDirect Must pay in £1,000+ PER MONTH to get the 2% in-credit interest	Free £100 (1) + 12mth 0% overdraft. The 0% overdraft can be bigger here, credit score depending, but it's 40% after a year, so ensure it's gone by then. You can also get a year's 2% in-credit interest on £1,500. See our Nationwide review.
Virgin Money M Plus* Must pay in £1,000+ to the linked savings account within 45 days	FREE 12-bottle case of wine or £150 experience day gift card. Plus 2.02% interest on £1,000 and no exchange fees abroad. See our Virgin review.
(1) Existing customers can get £125 to switch.

And don't worry about the hassle of switching. In Martin's Twitter poll in October, 80% said it was mostly easy and hassle-free. To get the bonuses, you need to use the banks' switching service which:

- Switches you within seven working days.
- Moves all standing orders and direct debits for you.
- Closes your old account and auto-forwards payments to the new one.

You will have to pass a not-too-harsh credit check to get the accounts, and be sure to check the eligibility criteria (included in our reviews in Best bank accounts) as some require you, for example, to move a certain number of direct debits.

Many people pay £30-£45/mth for slow broadband speeds. Yet if you're one of the seven million who are out of contract, you can up your speed and more than halve your costs - again saving £100s a year. It's all about pouncing on short-lived promotions which give rewards such as prepaid Mastercards for signing up.

The easy way to do it is to just search what's available in your area via our Broadband Unbundled comparison tool. As examples, the cheapest new customer deals available to most right now are...

- Cheapest basic 11Mb broadband and line, equivalent £13/mth. Fine for light use. See Shell Energy info.
- Cheapest 38Mb fibre broadband and line, equivalent £15/mth. Fast enough for most streamers and gamers. See Vodafone info.
- Cheapest superfast 67Mb fibre and line, equivalent £16/mth. If you've a need for speed (for example, multiple users streaming). See Vodafone info.

Savings can be large, as Kathy emailed us: "When BT notified me my contract was ending, I used your comparison and switched. Over the 24-month contract I will save around £841."

If you're happy where you are, do a quick check to see the cheapest deals in your area, then - as long as you're out of contract - use that as a benchmark to haggle down your broadband price.

Also, see our Cutting the cost of digital TV guide too.

A few weeks ago, the Bank of England raised the UK base rate for the first time in three years. Most analysts believe that was just the first of several rises.

But while those on variable-rate mortgages have seen the cost increase, we haven't yet seen a big increase in the rates you can get a new mortgage deal for - sub-1% is still available for two-year fixes.

In general, the more you value certainty right now, the more you should fix and fix longer. It's worth checking if you can save - we even get some people who save five figures (usually over five-year fixes).

Our free 64-page Remortgage booklet PDF has tons of help, but here are four very brief key steps...

a) Quickly check if cheaper rates are available. Spend a couple of minutes on our Mortgage Comparison tool.
b) Find your existing lender's cheapest deal. If it's got a cheap rate, see if your existing lender will do a 'product transfer', as it may mean less fees & paperwork.
c) Use our calculators to compare deals. We've eight different calculators to help you in our Ultimate Mortgage Calculator tool.
d) Speak to a mortgage broker to find which lender will most likely accept you. What really counts is finding the cheapest mortgage that will accept you, including affordability and credit-scoring criteria. These are shrouded in mystery, but mortgage brokers have extra info not available to the public, access to special deals, and can help guide you through.

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.

Important: The energy price cap's now predicted to rise a horrid 51% on 1 April - adding typically £600/yr to bills. Should you grab a fix or hold tight? MARTIN's answer...

Yesterday I again called for Government intervention to prevent an energy bill crisis before 1 April, when the price cap - which most bills are now based on - is predicted to rise 51%, a nightmare that'll throw millions into fuel poverty. Unsurprisingly, with this prediction many are asking me if they should now move off the price cap to fix? After number-crunching, for most, it's still a 'no', but for the first time in many months, fixing may be worth it for a few...

This is all about the price cap, which 60%+ (and rising) of homes are on. The price cap limits what firms can charge in Eng, Scot & Wales for their default standard variable tariffs. Calling it a 'Price Cap' is a misnomer, there's no max you pay for energy, think of it more as a cap on the cost of each unit of gas and elec. Most people who aren't on fixes are on it. You're on it if...

- You've never switched tariff.
- Your cheap fix ended & you did nothing (as there are no cheap deals now, many are being moved to it).
- Your firm recently went bust and you were moved elsewhere.

For years I warned price-capped tariffs were far from cheap. Yet last year wholesale energy prices (those suppliers pay) exploded, and as that takes time to feed into the cap, it currently forces firms to sell gas and electricity massively below cost. In fact, there are NO MEANINGFULLY CHEAPER SWITCHABLE DEALS. That's why my mantra's been 'do nothing', as then you're on, or will eventually move to, a price-capped tariff.
The price cap will likely rise a sickening 51% on 1 April. It's revalued six-monthly, based on wholesale energy prices, which are now astronomical (see how the price cap's set). The latest evaluation period finishes this month, so predictions are firming up. Analysts Cornwall Insight's latest is the cap will rise 51%, that's £1,925/yr for someone on typical use. Other predictions range from a 46% to 56% rise. It'll likely hit pockets immediately, as even while April usage is lower, direct debits will be upped then based on annual usage.
THE BIG QUESTION: Should you ditch the price cap to fix? Sticking on the price cap has saved people large so far, but as we get nearer to 1 April, less time and therefore benefit remains of the current low rate. Switch now, and as moving firm takes an average 17 days, you'd lose just over two (high use) months' cheap rate. We've factored all that into the number crunch and today (the percentage level will rise in coming weeks) the result is...

If you're offered a fix that's no more than 40% costlier than your current price-capped tariff, it's worth considering - especially if you value budgeting certainty
THE BIG PROBLEM: No open market tariffs are that cheap, though some existing customer deals are close. The market's cheapest fix right now is an average 56% more than the cap - though some with very low or high usage may find it cheaper (do a cheap fix comparison to see). At that rate, fixing's unlikely to be worth it.

A few existing customer deals (especially from Scottish Power and Octopus) may get closer, so if you're offered one, do the numbers to see what % the increase is. Though as in-house switches happen quicker, you'll lose more cheap rate time.

Of course, fix now and if wholesale prices drop rapidly, so fixes get cheaper in future, you would've unnecessarily lost out on the current cheap cap rate (you could always fix again then, just paying early exit fees - trivial in the big picture right now). Then again, don't fix now, and if prices rise, fixes could get even more expensive. This isn't easy.
Confused? Most should still DO NOTHING and stick on the price cap. I know this is complex. So to summarise, it looks like most people should do nothing (no certainty, I don't have a crystal ball), it looks like only a few edge cases should be looking at fixing right now. So if in doubt, just stick on today's cheapest price - which is the cap. And to be plain, the 40% figure is my best guess, not firm. Other assumptions I've needed to make are...

- Neither the Government or Ofgem change the methodology, market or levies on firms.
- The October 2022 price cap will be similar to April's. Yet it's based on future, unknown February-July wholesale prices. In fact, if wholesale prices don't drop from where we are now, the cap will likely rise another 20% on top in October.
- I've calculated based over the next year - not looked at longer-term fixes.
Worried you can't pay bills? There's help available. This is a dreadful situation. If paying your bill is tough, check if you can claim the Warm Home Discount or an energy grant and talk to your supplier - you won't have your supply cut off and it may be able to put you on a payment plan. And of course, aim to decrease usage - see 9 energy saving tips.

Our Martin's got an upgrade. He's been appointed a CBE in the recent Honours' list. See Martin's response and MSE Helen's note of congratulations, including how he inspires us all.

January sales discounts BOOSTED, including £3.60 Asos dress (full price £40), £3.35 sandals (full price £25), £4 H&M joggers (full price £13). Less stock, but bigger discounts. Asos has upped its sale from 70% off to up to 80%, H&M (was 50%) and Selfridges (was 50%) are now up to 60%. Plus we predict if the other biggies will boost in our January sales round-up.

Virgin Media customer? It's hiking bills £56/yr on average. See Virgin hike news & how to beat it.

Lose or misplace your phone and can't ring as it's on silent? How to find it. See find my phone.

Energy firms wrongly force home movers on to fixes - we're reporting them to Ofgem. Firms including Octopus and Scottish Power have forced some home movers on to fixes that can be up to double the price cap - when the rules say they must be allowed to go on to a capped tariff. We've compiled a dossier and sent it to the regulator Ofgem. See Energy firms breach home move rules for what you can do about it.

Energy supplier gone bust? Check if you're now paying twice. Some MoneySavers have reported both their old and new suppliers taking regular payments. If affected, find how to reclaim your cash.

Updated. 14 FREE ways to learn something new in 2022, such as languages, coding and history. If you plan to upskill this new year, see our popular Ways to learn skills for free blog, which includes new stuff such as how to brush up on your history and how to be more effective at work.

It's back. Thu 8.30pm, ITV, The Martin Lewis Money Show LIVE - '5 must-knows for 2022'. Over to Martin: "We're back after our Christmas break, and so much has happened. I plan to talk through energy bills, roaming charges, tax rises and more - and of course what you can do about them. Plus the latest news-you-can-use. Do watch or set the Betamax."

BLAGGED FOR MSE

- Plusnet Sim '£4.34/mth' for 4GB data Ends tomorrow (Thu)
- Shell Energy '£12.66/mth' 10-11Mb broadband & line Ends Sun

DID YOU MISS?

- Cheap Covid travel tests, including £35 PCRs
- Required to work from home? Claim up to £280 tax back
- 'The 1p Savings Challenge paid for our carpets.' Can you do it?
- Earn a £30 Amazon voucher for doing quick online surveys
- Should you leave the heating on low? Energy mythbusters

It's 2022, the year of the cost of living crisis. We love the fact you get this email, but getting it isn't enough - you need to act on it. Here's £6,000 of inspiration...

When you work for MoneySavingExpert.com, you get a lovely warm glow when people (and it happens a lot) tell you: "I love what you do - I get your email." Yet sometimes when you ask what they use it for, they go a bit sheepish and admit they get it, but don't always have the time to use the tips in it. So when we got this email from Andrew just before Christmas, which is lovely and flattering (no blushes), we thought we'd publish it today as our Success of the Week to show action works...

To: successes@moneysavingexpert.com
Sent: 16 December 2021, 7.00pm
Subject: Thanks for saving us thousands and for all your great work

Dear Martin and MSE Team,

I have been a subscriber to MSE's Money Tips email for almost a decade. We have used your guides on everything from top bank accounts, to getting the best mobile, energy and broadband providers, opening cash ISAs and getting our first mortgage (we read the guide for first-time homebuyers). MSE helped us save £100s on these things.

Most recently, we got a gas fixed tariff as soon as Martin started questioning where energy prices might go, so just before the prices went crazy we got on a two-year fix with a big provider.

But the story I want to share with you today is how you saved our holiday last year which could have been a disaster.

Last autumn, we drove to Italy from Edinburgh for the holidays. As we were heading back from Sardinia, our car broke down. We needed the car to be towed to the nearest service station and to sort our accommodation. Fortunately, we had MSE's top bank account for insurance.

So we called the bank's emergency number, and within an hour our vehicle was being towed. In less than a few hours, we were in a comfortable hotel provided by the insurance. Things got complicated with fixing the car, but fortunately the insurance covered the cost of the vehicle tow back to the UK and paid for the flights for us to return, plus a month of rental before our car finally appeared in Edinburgh.

It certainly was not the way we wanted to end our trip, but if we did not have the account you recommend - for which we pay £13 a month - this breakdown would have cost us a lot more headache and over £6,000 of our own money. So I want to say a big thank you for all the recommendations over the years that saved us money and problems.

On a broader note, thank you for all the work you have done around Covid-19 in the last two years by constantly fighting and advocating on behalf of ordinary people and small business (by demanding answers and having the Government consider scenarios they have not). In my book, you are the best journalism outlet in the UK and do far more than media with more resources.

Thanks again and happy holidays to you and the team.

Sincerely,

Andrew

The Sun '£9.50 holidays' return. They're cheap, but rarely £9.50. See Sun hols analysis, including refund rights.

FREE 10-point Halfords winter car check. Includes battery, bulbs, oil & windscreen. Normally £15. Free car check

Oxford University Press 25% off 1,000s of its uni textbooks. See Discounted textbooks.

FREE Homebuilding & Renovating Show tickets. For Farnborough, 15-16 Jan, normally £12. Free tickets

'My 13 lucky years at MoneySavingExpert - highs, lows, laughs & sabotage.' Departing deputy editor Guy Anker gives a sneak peek into his time at MSE Towers. Farewell MSE Guy

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AT A GLANCE BEST BUYS

Longest 0%: Virgin Money (check eligibility / apply*) 35 months 0%, 2.94% fee (21.9% rep APR)
No-fee 0%: Sainsbury's Bank (check eligibility / apply*) up to 21 months 0% (20.9% rep APR)

Standard (10Mb+): Shell Energy '£12.66/mth'
Fibre (30Mb+): Vodafone '£14.84/mth'
Superfast fibre (55Mb+): Vodafone '£15.84/mth'

Top standard easy access: Investec 0.71%, min £5,000
Top one-year fix: Investec 1.36%, min £5,000

Get comparison site quotes in this order:

Cheapest, £5k-£7.5k: Sainsbury's Bank (check eligibility / apply*) - 3.3% rep APR for Nectar holders, 3.4% for others
Cheapest, £7.5k-£15k: M&S Bank (check eligibility / apply*) - 2.8% rep APR

£150 to switch: HSBC
£130 to switch + great service: First Direct

Up to 3GB: Lebara '£4.29/mth' for 3GB, unlimited mins & texts
4GB-9GB: Plusnet '£4.34/mth' for 4GB, unlimited mins & texts
10GB+: TalkMobile '£4.50/mth' for 10GB, unlimited mins & texts

THIS WEEK'S POLL

Parcel delivery firms: which are the best and worst? With more of us shopping online, parcel delivery firms are playing an increasingly important role in many people's lives - and of course they've been under intense pressure lately, particularly in the run up to Christmas. So it's time for our ninth annual poll to check how couriers are doing.

Roast potatoes were MoneySavers' favourite Christmas dinner components, bread sauce the least. Last week, for a bit of fun, we asked what your favourite and least favourite parts of Christmas dinner were - 6,800 of you voted. Roast potatoes were the standout winner with nearly one-quarter choosing them as their favourite, followed by pigs in blankets and turkey. On the flip side, bread sauce was voted least favourite by nearly 20%, closely followed by brussels sprouts. See full Christmas dinner poll results.

MONEYSAVING NEWS

- Top story: Five major events set to impact your personal finances in 2022 - and what to do about them
- Households to face a £1,200 hit from April with 2022 set to become the 'year of the squeeze'
- Almost 5,000 high street banks have shut since 2015 or are set to close - but you still have options
- Revolut hands 50,000 customers £20 after banking problems during Black Friday sales

MONEY MORAL DILEMMA

Should I offer to pay part of my friend's parking fine? Over Christmas a friend took me out, but unfortunately when we got back to the car it had a parking ticket on it. My friend had decided where to park, as he was driving, and it was his home town and not an area I'm familiar with. Yet I feel like he wants me to offer to pay half of the fine as he got it taking me out, even though it really wasn't my fault. Enter the Money Moral Maze: Should I offer to pay part of my friend's parking fine? | Suggest an MMD

MARTIN'S APPEARANCES (WED 5 JAN ONWARDS)

Wed 5 Jan - Ask Martin Lewis, BBC Radio 5 Live, 1pm. Listen to past episodes
Thu 6 Jan - This Morning, phone-in, ITV, 10.45am
Thu 6 Jan - The Martin Lewis Money Show Live, ITV, 8.30pm

MSE TEAM APPEARANCES (SOME SUBJECTS TBC)

Fri 7 Jan - ITV regional news, with MSE's Katie Watts on Christmas consumer return rights, from 6pm
Tue 11 Jan - BBC Radio Cambridgeshire, Mid-morning with Jeremy Sallis, from 12.40pm

SECRET SANTA GIFTS AND WRAPPING PAPER - YOUR BIGGEST WASTE OF CHRISTMAS CASH

That's all for this week, but before we go... Forumites have been debating their biggest Christmas waste of money. Some believe Secret Santa gifts are generally useless tat, while others bemoan the waste from Christmas cards, disappointing crackers, excess food and wrapping paper. Let us know your thoughts in the what's the biggest Christmas waste of money? MSE Forum discussion.

We hope you save some money, and we wish you a VERY happy and healthy new year.
The MSE team

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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.

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