MoneySavingExpert's Money Tips Email

Debt can be depressing, dangerous and debilitating. Never more so than with Christmas credit card bills about to drop through many people's doors, and UK interest rates at their highest since 2008. Yet dealing with it soonest mends it quickest.

Chilling figures just out from the Bank of England show that UK personal borrowing is growing at its fastest rate for five years - its latest figures show half a billion added on credit cards in Nov alone.

So I want to focus first on cutting the cost of any existing credit card debts that you can't clear, and, as so many people are borrowing right now, when doing it on 0% cards is best, and when it isn't.

Panicked about your debt? Jump straight to debt crisis help.

Here the key tool is a 0% balance transfer, where you get a new card and when you balance-transfer it just makes a repayment to your old credit and store card(s) for you, to hopefully clear them, then you owe it instead, but at 0%. As it's now interest-free, your repayments clear the actual debt rather than just mostly cover interest.

Over the last year, deals have sadly got shorter & costlier, but a couple of New Year deals have launched, likely to capitalise on the January 'sort out my finances' fervour, so sorting sooner is likely better.

- To AVOID REJECTION, spend two minutes on a 0% eligibility calculator. This shows which of most top cards you can likely get, listing your bespoke acceptance odds for each. That way you can minimise applications, and protect your creditworthiness.

To show the impact, we were recently emailed (by someone who asked us to withhold their name)... "I applied for a 24mth 0% credit card thanks to your eligibility calculator. I have an overdraft and two cards with total debt over £11,000, following a divorce and house move with our two small children in 2022. I've been offered a credit limit to cover 90% of the total debt. In 2 years I'll be debt-free. Woohoo!" [Likely to be a £4,000 interest saving.]

- If you've a choice, go for the lowest fee, within a 0% time long enough to clear your debt. Most balance transfer deals charge a one-off fee as a % of the debt transferred (so 3% on £1,000 shifted adds £30 to what you owe at the start), so aim to minimise it. If you're unsure, it's not that big a deal - just play safe and go long.

Top new-cardholder 0% balance transfers include
New. Barclaycard Link goes via our eligibility calc, or apply direct*	Longest 0% & cashback for some - Up to 29mths 0% (3.45% fee) - £25 cashback if transferring £2,500+ - 24.9% rep APR interest after For those shifting £2,500+, the cashback offsets some of the fee. But it's an 'up to' card, so if you're not 'pre-approved' in our eligibility calc, you could be accepted and get just 14mths 0%.
M&S Bank Link goes via our eligibility calc, or apply direct*	Decent Barclaycard alternative - Up to 28mths 0% - 3.49% fee (min £5) - 24.9% rep APR after Another 'up to' card, but here if not pre-approved in our eligibility calc, you could get 20mths 0% - a better worst-case acceptance scenario than Barclaycard.
Santander Link goes via our eligibility calc, or apply direct*	Longest definite 0% - 26mths 0% - 3% fee (min £5) - 23.9% rep APR after All accepted get the full 26mths 0%, so it's worth considering if you get good eligibility calc odds and aren't pre-approved for the cards above.
NatWest Link goes via our eligibility calc, or apply direct*	Cheapest if you can REPAY QUICKLY - 13mths 0% - NO FEE - 24.9% rep APR after No balance transfer fee whatsoever, so clear the debt within 13mths and it's totally free. Plus our eligibility calc can tell those pre-approved if they'll get the credit limit they need. Also offered by sister banks RBS & Ulster, but they're not in our calc.
You can't transfer between two cards from the same banking group.

Balance transfers if you've a poor credit history

If you can't get the top cards, the eligibility calculator will show alternatives, including some specifically for those with patchy credit histories. Some even accept those with past defaults or county court judgments (CCJs). There's one big thing to watch though...

The interest rate after the 0% ends will be horrid: as high as 39.9%. Compare it to your current card's interest rate. If, as is likely, your card is lower, only shift the debt you're sure you can clear within the 0% period, as you don't want it to be stuck at the higher rate after. If it's higher, shift as much debt as possible.

Virgin Money - 16mths 0% (3% fee), 29.9% rep APR after. You must have a recent history of managing credit, even if you've had CCJs or defaults in the past, and a yearly £15,000+ personal income.
Zopa - 6mths 0%, NO FEE, 34.9% rep APR after. If you can pay it off quickly, the fact this is no-fee is a winner. Needs min £10,000/yr personal income, plus two lines of credit, eg, phone contract/overdraft.
Fluid (not in our eligibility calc) - 9mths 0% (3% fee), 34.9% rep APR. Can't have been declared bankrupt in last 18mths or had CCJ in past 12mths.
Capital One - 6mths' 0% balance transfers (3% fee), 34.9% rep APR. Must have recent history of managing credit even if you've had past CCJs or defaults.

The four Balance Transfer Golden Rules...

Clear debt before the 0% ends. Pay it off or transfer again before the 0% ends or you'll pay the rep APR.
Never miss the minimum monthly repayment. Or you can lose the 0% rate. Set up a Direct Debit for at least the minimum, then try to make additional manual payments to clear down the debt.
Don't spend/withdraw cash on the card. It usually isn't at the cheap rate - and it's best not to build up more debt.
Check how long you've got to do the transfer. If you don't do it as part of the application, you've normally 30 to 90 days.

Yeah Martin, that's all well and good but in reality...

I accept my explanation makes it simple, but life often isn't. So let me run through the most common balance transfer questions I get asked:

Q. Should I apply if my best eligibility score is only 20%? Cutting debt costs is important (usually only trumped by a mortgage application) so go for it. While 20% odds are low, it means it's likely two in 10 who apply will succeed, and it could be you. And if you're rejected, barring a minor credit file application mark, you're no worse off.

Adam emailed me, after listening to one of my podcasts: "I applied to the top eligibility checker result with just an estimated 20% chance and, guess what, I was accepted with a £3,500 credit limit, two years 0%. That debt was 20% APR. I can now focus on other debts, potentially having an extra £1,300ish. You mention the link between money and mental health. Well, your advice has really lifted me."

Q. What if the credit limit I get isn't high enough for all my debt? If you get a card but the credit limit isn't big enough, the application's already on your credit file - so shift as much of your highest APR debt as you can to the new card (usually 90% of the credit limit). Then once done use our eligibility calculator to see your chances of acceptance for other providers' cards to move the rest.

Q. What if the eligibility calculator says 'no chance' for all cards? You can sometimes use existing cards to move debt where it's cheapest. For example, if one credit card charges 18% and it isn't up to the credit limit, but your 30% card is, you may be able to shift debt from the 30% to the 18% card, saving you cash. Ask your lender.

Even better, some cards also have 'existing-customer balance transfer offers' - eg, 12mths at 0%. See credit card shuffle for how it works.

I've long said debt is like fire. Used well, it's a useful tool. Used badly, it burns. And that sparks true for 0% purchase cards (also called 0% cards for new borrowing). They are the cheapest possible way to borrow for a year or two, as they're INTEREST FREE, if done right...

- Only borrow if it's planned and affordable. For a needed, budgeted for, one-off purchase (eg, replacing a non-working fridge). If in any doubt, don't. And if you do, minimise what you borrow and repay ASAP.

The big danger of 0% credit cards is easy, willy-nilly borrowing to meet ad-hoc income gaps, with only small repayments. That sounds good, but it's as dangerous as hammering dynamite, as it can lead to a debt spiral.

- To avoid rejection, spend two minutes on a 0% eligibility calculator. This shows your bespoke acceptance odds for most top cards, so you can minimise applications.

- Average credit limits are £3,000 to £5,000. Yours depends on your credit history, but they can be far less (or more).

Top new-cardholder 0% purchase deals include
Barclaycard Link goes via our eligibility calc, or apply direct*	Longest 0% deal, but it's an 'up to' - Up to 21mths 0% on spending - Up to 18mths 0% on balance transfers (2.99% fee) - 24.9% rep APR interest after It's an 'up to' card, so if you're not 'pre-approved' in our eligibility calc, you could be accepted and get just 10mths 0% on purchases and 9mths 0% on balance transfers.
M&S Bank Link goes via our eligibility calc, or apply direct*	Good alternative to Barclaycard & gives points - Up to 20mths 0% on spending - Up to 12mths on balance transfers (3.49% fee, min £5) - 24.9% rep APR after Another 'up to' card, but if not pre-approved in our eligibility calc, you could get 15mths 0% on purchases and 9mths 0% on balance transfers - a better worst-case acceptance scenario than Barclaycard. It also gives 1 M&S point (worth 1p in M&S) for every £1 spent in M&S and £5 spent elsewhere. But obviously if you're using this for debt be careful using it for extra points too.
NatWest Link goes via our eligibility calc, or apply direct*	Longest definite 0% - 19mths 0% on spending - 19mths 0% on balance transfers (2.99% fee) - 24.9% rep APR after All accepted get the full 19mths 0% on purchases and balance transfers, so consider it if you get good eligibility calc odds and aren't pre-approved for the cards above.
Poor credit scorers - 0% purchase cards
Extreme care needed. While it may get you out of a hole, if you've debt left after the 0% ends, the APRs (costs) are sky-high. Only use if 100% sure you can clear any borrowing within the 0% time. If in doubt, don't.
Virgin Money Link goes via our eligibility calc, or apply direct*	Longest poor credit card - 12mths 0% on spending - 12mths 0% on balance transfers (3% fee) - Scary 29.9% rep APR interest after Needs a recent history of managing credit, even if you've had CCJs or defaults in the past, and a yearly personal income of £15,000+.
Capital One You can only apply via our eligibility calc	Alternative card, may be easier to get - 6mths 0% on spending - 6mths 0% on balance transfers (3% fee) - Scary 37.9% rep APR after You must have a history of managing credit even if you've had CCJs or defaults in the past.

Other ways to borrow may be better

Interest-free is unbeatable, but the risks of it going wrong are significant with 0% credit cards. So a couple of alternatives:

- Loans may be better if you don't trust yourself (or for big one-offs). While costlier than cards, a cheap loan is something you borrow a set amount for once, then have fixed monthly repayments, so it's a more financially disciplined way to borrow if you don't trust yourself.

- Buy now, pay later (BNPL). This now ubiquitous form of payment at online shops and sometimes in store isn't without use. It's easier to get, interest-free, and may be better for short-term borrowing (3mths or less).

Yet it's still unregulated, people forget it's a debt, and is interest-free as shops cover the costs as it encourages people to buy more stuff. So generally avoid unless needed, and only do it for a one-off, planned purchase - don't make a habit of it. See our BNPL guide for more.

i) Focus on clearing the highest-interest (APR) debt first. List all debts in APR order, and use all spare cash to clear the highest (as it's growing fastest), and just pay minimums on everything else. Once it's clear, focus on the next costliest, and so on and so on. That'll get you debt-free quicker. This includes overdrafts, especially as they're often costlier than credit cards (but doesn't include student loans).

ii) Don't look at debt in isolation. No one gets into debt for its own sake; it's to pay for other things. So you have to look across all your expenditure... go through everything you spend money on and see if you can do it cheaper or better. Our money makeover takes you through some of that.

iii) Do a budget. As well as cutting costs, get control of all your spending. The best way is to do a budget, looking across a year, to see where the cash is going. Then what really counts is how you stick to it - many who have tried swear by (or at) my piggybanking system.

iv) Boost your credit score... you may then qualify for better deals in future. See my 28 ways to boost your credit score guide.

v) Got savings? Use 'em to clear costly debts. Millions still have savings, though many are using them up. Some have an emotional attachment to them ahead of clinical financial decision-making.

Yet saving is just giving your bank a loan. So if your debts are at a higher rate than your savings earn, repaying the debt with the savings will likely add up.

Never is this clearer than with a costly credit card, as if you clear it and that leaves you with no emergency savings, just keep the card open. That way, the worst that can happen is you use it again in an emergency - at least you saved interest meanwhile. See Pay off debt with savings?

The solutions above all involve you being in a functional relationship with your debt, ie, you can afford to repay and you just want to cut the cost. But for some a different tack is better - full help in our Debt crisis help guide, but I've three questions to help you decide which route is right...

- Do you struggle to meet minimum monthly payments?
- Is your total debt (not mortgage/student loan) over 1yr's salary?
- Do you have sleepless nights or depression/anxiety over debt?

If you answer 'yes' to any of these, forget the solutions above, and instead get free, one-to-one debt-counselling help from Citizens Advice, StepChange, National Debtline or CAP (which gives emotional support too).

They're there to help, not judge. The most common thing I hear after is: "I finally got a good night's sleep." Just go for it, read inspiring stories in our Debt-free wannabe forum, and also see our Mental Health & Debt guide.

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.

Booked a holiday abroad? Or about to...?
Get travel insurance ASAB - As Soon As You Book. Delay & you'll be unprotected. You can do it for £9 a week

January is the peak holiday-booking month. But according to Martin's poll on Friday, over a quarter of those who have booked haven't yet sorted their travel insurance - something he warns is a real mistake...

Martin: "Each year, heartbreakingly, without fail, in the run-up to summer, someone who's been diagnosed with cancer or another serious condition that needs long-term treatment tells me they won't be able to go on their holiday, but the airline/hotel won't refund them (within their rights as the ticket is not faulty). I say 'that's what travel insurance is for', yet they then tell me they haven't got round to getting it yet. My heart sinks. Half the point of the cover is to protect you if things happen before then that stop you going, so please get it ASAB."

Holidaying more than once a year? You want an annual policy. If you'll go away at least twice - even if just for weekends - it usually works out that annual policies are cheaper. They cover virtually all trips away (with duration limits). If your existing annual policy lapses before the holiday starts, while you're usually covered until it lapses (do check) it's normally best to sort out a policy now, to start the day that one ends.

CHEAPEST TRAVEL INSURANCE
(under-65s, over-65s, and pre-existing conditions)

These policies are the cheapest bog-standard, no-frills options we can find that meet our minimum cover levels. We judge these purely on price, NOT feedback. So these are for those not too fussed about extra cover or add-ons, and just see them as a backstop. Exact prices depend on age & circumstance so we give you the three or four that are usually cheapest. Do check a couple. For full info & far more options, click the guide links...

- Under-65s' annual policies. From £10 for singles in Europe, from £78 for a family worldwide. Check Coverwise (Bronze)*, Leisure Guard Flexi (Bronze), Admiral* and Sainsbury's (Silver)*. Full info: Cheap travel insurance.

- Over-65s' annual policies. As costs rocket for those who are older we've put a lot of work into our Over-65s' travel insurance guide. Prices are from £40/yr if you're aged 66, and from £110/yr if aged 76. Check Admiral*, Leisure Guard (Standard), Avanti (Classic)* and Staysure (Comprehensive)*.

- Under-65s' single-trip policies. Cover for a one-off trip. For a week, from £9 for individuals in Europe, or from £58 for a family worldwide. Check Coverwise (Bronze)*, Leisure Guard Flexi (Bronze) and A to Z Insurance (Standard).

- Over-65s' single-trip policies. From £22/wk for an individual in Europe (£54 worldwide) - try Coverwise (Bronze)*, Avanti (Classic)*, Staysure (Comprehensive)* and Leisure Guard Flexi (Bronze). Full info & options in Over-65s' travel insurance.

- Hitting the pistes? Get a winter sports add-on. Most of the policies above let you add winter sports cover, for lost or damaged gear, piste closures and medical costs from accidents. This also includes public liability cover, in case you injure someone while on the slopes. Do be aware that if you go off-piste (or do any extreme sports), these WON'T cover you. More in winter sports info.

- Got pre-existing conditions? There are too many variables to list them briefly so please jump straight to our Pre-existing medical conditions travel insurance guide for all the options.

Want a higher-end policy to cover airline failure, natural disasters and so on, with stronger feedback? You will pay more - use our Travel Insurance Finder tool to see options. Here we factor in payout records (eg, for natural disasters, or airlines going bust) plus feedback, and they can also have higher claim limits per person. So this is better if you're taking expensive equipment or want a company with better feedback.
Holidaying in Europe? Ensure you've an in-date EHIC/GHIC card - if not, apply for a free GHIC card. It's not a substitute for travel insurance though.
Can you save with a packaged bank account? These give travel insurance, mobile phone cover and breakdown cover for a monthly fee - if you need all of them, you can save £100s. See top packaged bank accounts.
What if my travel insurer unfairly turns my claim down? Knowing how firms will respond to claims is tough. You can always formally complain to the insurer and, if rejected, go to the free Financial Ombudsman to adjudicate.

Decide ASAP. Diesel emission lawsuits - should you join claims against Mercedes, Fiat, Ford & more? Mercedes drivers have just weeks left to decide whether to sign up after the court set a February deadline for new claims, while cases against other brands are also progressing. For the latest, see diesel claim pros & cons.

Ends 15 Jan. Top 1yr fixed savings - '5.65%' on £10,000. Fixed-rate savings have plummeted and are likely to fall further. Three months ago the best paid 6.2% - now the top standard 1yr fix is Investec's 5.3% AER (min £5,000). Yet right now there's a way to boost this - open Investec's lower 5.15% AER 1yr fix* via savings marketplace Raisin and newbies can get a £50 sign-up bonus. So put £10,000 in and the effective interest rate is 5.65%, and it beats standard savings up to around £30,000. Full info: Raisin write-up.

New video: Inheritance tax - will you pay it? Martin's mythbuster. Quickly discover how the much-confused tax really works, who's likely to pay it and who isn't. Martin Lewis inheritance tax mythbuster

Ends Fri. Cheap 100GB mobile Sim - just '£7.09/mth'. This iD Mobile Sim (uses Three's signal) is £5/mth for the first 3mths, then £10/mth, but you can CLAIM a £20 Amazon or Currys voucher. Factor that in and it's equivalent to £7.09/mth over the 12mth contract. Want different data / network? Use Cheap Mobile Finder.

Martin meets the Chancellor (and vice versa): This evening (Tue) ITV 9pm (not the usual time).

In a Martin Lewis Money Show Live special, Martin grills Jeremy Hunt on Child Benefit, energy bills, Lifetime ISAs, carer's allowance, mental health & benefits, national insurance & tax, inflation, mid-contract broadband price hikes & more. He (Martin not the Chancellor) will also run through the latest energy bill switches, childcare help, the eBayers' tax, and lots more news you can use. Do watch live, catch up on ITVX, or set the Betamax.

Veganuary deals: 60% off Papa John's, £1 off vegan cheese, FREE £1.40 banana loaf. For restaurant discounts, coupons & more, see MSE Rhiannon's Veganuary round-up.

Worried after reports Etsy, eBay, Vinted & so on will pass sales on to HMRC? Let's set your mind at rest. 1. There's no new tax. 2. Selling stuff online normally isn't taxed, unless you're 'trading'. 3. Only sales over about £1,700 or more than 30 items a year are reported. Best to read our full how new 'eBay tax' reporting really works.

161 flowering bulbs £10. MSE Blagged. 10,000 sets available, including delivery - not in NI or parts of Scot. Flower power

Warning. Still got an Easyjet Covid voucher? £58m worth expire 31 Jan. See Easyjet vouchers.

BLAGGED FOR MSE

- 161 summer flowering bulbs £10 delivered 10,000 sets available

DID YOU MISS?

- Fixed mortgages fall below 4% - but will they get cheaper?
- Ends Wed. 'Up to 50% off' Great Western Railway tickets
- Millions of water bill payers could get £100+ payouts
- Amazon Prime Video customer? It'll charge you to avoid ads
- FREE £175 and 7% interest, by switching to top-service bank

Need a loan? The cheapest are now 6.1% - ensure you get one the right way or you can pay massively over the odds

Done right, 0% credit cards, as Martin explains above, are the cheapest way to borrow. Yet if you have a big one-off purchase to make, need money for something you can't put on a card, or don't trust yourself with a credit card and want the imposed discipline of fixed repayments, cheap loans are the alternative. And as many people are borrowing right now, we wanted to briefly explain the key info. First, it's worth saying, if your aim is to switch credit card debt to a loan, a balance transfer is likely cheaper, and if you're already in serious debt, best to jump to our debt crisis help section above.

Again, ONLY borrow if it's NEEDED, budgeted & affordable. Budget to ensure you can afford the repayments, borrow as little as you can, and repay as quickly as you can. Overall, if in doubt, don't.
With loans, acceptance is about far more than just your credit file. With all lending types, providers assess your much-discussed credit history and the less well-known affordability too, where your income is key.

With loans though, as you're requesting a specific amount, affordability scoring is even more important. So always use our Loans Eligibility Calculator to see your chance of acceptance - for example, you may find high acceptance odds for £3,000, but no chance with the same lender to borrow £7,000.
The UK's cheapest FIXED unsecured loan rates. This is the cheapest borrowing that ISN'T 'secured' on your home (ie, so they can't just take your home if you can't repay). All the following are 'representative APR'.

- £1,000 to £2,999: Santander* 13.5% rep APR interest, but 0% credit card loans are likely cheaper for many
- £3,000 to £3,999: Novuna Personal Finance* 9.9%
- £4,000 to £4,999: Novuna Personal Finance* 9.7%
- £5,000 to £7,499: Santander* 7.3%, Novuna Personal Finance* 7.3%
- £7,500 to £15,000: Tesco Bank* 6.1% (need a Clubcard), Novuna Personal Finance* 6.2%

If you do get a loan, ensure you pay on time (preferably by Direct Debit) or you may be charged and get a missed payment on your credit report, which can cause real problems.
Lenders needn't give you the rate they list. Virtually all personal loans are 'representative APR'. That means lenders only need to give 51% of accepted customers that rate - the rest can be charged more without limit. This is frustrating, and worse still, the only way to find the rate you'll get is by applying, which marks your credit file. A few lenders do now give guaranteed rates via an eligibility check, but they tend not to be the cheapest. We continue to push for change.
Will loans get cheaper? Fixed-rate mortgages and savings have dropped a little, as they're based on long-term interest rate predictions. So we'd have hoped the cheapest loan rates would've been shaved down a little too, but they haven't, yet. If you do get a loan now and rates drop substantially, follow the steps below.
Can you cut the cost of existing loans? If you have a loan at a higher rate than those above, it's worth checking, especially if your credit score or income's improved. Full help in Cut existing loan costs, but in brief:

- Step 1: Get a 'settlement figure' from your lender. This is the amount you'd need to borrow from a new lender to pay off your existing loan. It's the remaining debt plus any early settlement charge (max two months' interest).
- Step 2: Find YOUR new top rate for the settlement amount (use the info above).
- Step 3: Use our Loan Switching Calculator. Plug the old and new loan details in and if it shows you can save, apply, then if accepted at the right rate, use the new loan to pay off the old one.

Martin: 'How I averaged 25,142 steps a day in 2023, but I must confess a steptacular fail.' See Martin's new 'My year in steps' blog.

17 FREE ways to learn something new in 2024, such as languages, coding or how to use AI. If you plan to boost your skills this year, see our ways to learn skills for free blog.

Cheapest ever iPhone 14 '£29/mth'. Buying a new iPhone isn't exactly MoneySaving, but if you need one, do it the cheapest way you can. Newbies to iD Mobile (uses Three's network) can get this 128GB iPhone 14 on a 24mth contract via Carphone Warehouse with 250GB/mth data for £9 upfront, then £29.99/mth. Then CLAIM a £25 Amazon, Currys or Uber Eats voucher - factored in it's £704 over 2yrs, equivalent to £29.33/mth - about the same as buying the handset outright. Carphone Warehouse is responsible for the handset, iD Mobile for the contract. Want a different handset? See Cheap Mobile Finder.

'I saved £5,000 on mortgage interest by overpaying.' Our success of the week is from Letitia, who said: "I used your Mortgage Overpayment Calculator to work out the best way to pay off my mortgage. I've made an extra 13 payments this year, saved around £5,000 in interest and my term has dropped by four years. I'm hoping to keep this up and have it paid off in five years' time." If we've helped you save (on this, or owt else), please send us your successes.

25,000 FREE water pipe & tap protectors. To protect your home as the cold weather hits. Find out what your water company offers in winter water-savers. Related: As temperatures dip, check if you can get cold weather payments.

O2 customer & want Amazon Prime? You could get £24/yr off. For new & returning Prime subscribers - this little-known saving was due to end this week but it's been extended for another year. £2/mth off Prime

Get PAID to recycle at Boots, H&M, John Lewis, Lush & more. Certain retailers reward you for recycling clothes, empty beauty containers, old phones and more. See this and another 20+ quick ways to go green & save.

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AT A GLANCE BEST BUYS

Longest 0%: Barclaycard (check eligibility / apply*) - up to 29mths 0% + possible £25 cashback, 3.45% fee (24.9% rep APR interest)
No-fee 0%: NatWest (check eligibility / apply*) - 13mths 0% (24.9% rep APR)

£175 to switch + TOP service: First Direct
1% cashback on bills & some spending: Santander Edge

Top easy access: Metro Bank 5.22%, min £500
Top one-year fix: Investec 5.3%, min £5,000

Try our Compare+ Car Insurance tool

Cheapest for £5,000 to £7,499: Santander (check eligibility / apply*), 7.3% rep APR
Cheapest for £7,500 to £15,000: Tesco Bank (check eligibility / apply*), 6.1% rep APR (must have a Clubcard)

Fast fibre (55Mb+): Vodafone '£21.71/mth'
Superfast fibre (100Mb+): Virgin Media '£22.06/mth'

On Universal Credit or similar? Check all discounted social tariffs

Up to 3GB data: Lebara, '£2.70/mth' for 3GB
4GB to 9GB data: TalkMobile, '£3.45/mth' for 6GB
10GB to 30GB data: Lebara, '£3.57/mth' for 12GB
31GB+ data: iD Mobile, '£7.09/mth' for 100GB

THIS WEEK'S POLL

Have you got a summer holiday booked? January's often a peak holiday-booking time as many take their minds off the cold weather by booking some summer sun. So we want to know if you plan to go away this year (and whether you've bought travel insurance, or plan to, for your trip). Vote in this week's poll.

1pMobile takes the mobile phone customer service crown. More than 5,000 people voted in last week's mobile phone service poll. Of firms to receive 75+ votes, 1pMobile and Giffgaff scored highest for customer service, with 85% and 72% rating them 'great' respectively. At the other end of the spectrum, Lycamobile scored just 6% 'great'. See full mobile poll results.

MSE NEWS

- Top story: British Airways passengers left £1,000s out of pocket after payment error
- Sky Mobile to hike prices for out-of-contract customers by up to £36/yr

MONEY MORAL DILEMMA

Should I give my former neighbour some money for the council tax refund he got us? My former neighbour had always rented out his property. He put it up for sale, was left paying council tax on it for the first time and was adamant it was in the wrong band, so he submitted a big report and the band was reduced - for him, me and some other houses. We all got an £8,000 refund and £45/mth reduction, but the neighbour who appealed gained nothing as his property sold soon after. One neighbour gave him £200 as a thank you, but the others gave nothing. Should I give him something? Enter the Money Moral Maze: Should I give my former neighbour some of the council tax refund he got us? | Suggest a Money Moral Dilemma

MARTIN'S BLOG

- In 2023 I averaged 25,142 steps a day, here's how... though I must confess a steptacular fail

MSE TEAM BLOG

- Veganuary deals - 60% off Papa John's, £1 off vegan cheese and more

MARTIN'S APPEARANCES (TUE 9 JAN ONWARDS)

Tue 9 Jan - The Martin Lewis Money Show Live, ITV1, 9pm (watch previous episodes)
Wed 10 Jan - Ask Martin Lewis, BBC Radio 5 Live, 1pm
Mon 15 Jan - The Chris Evans Breakfast Show, Virgin Radio, 9.15am
Tue 16 Jan - This Morning, phone-in, ITV1, 10.15am

MSE TEAM APPEARANCES (SUBJECT TBC)

Wed 10 Jan - BBC Radio Norfolk, Mid-morning with Kayleigh Poacher, from 10.15am

WHAT TIME (AND MONEY) SAVING HOUSEHOLD GADGET WOULD YOU INVENT?

That's all for this week, but before we go... MSE Forumites have been coming up with ideas for inventions to solve everyday household problems. Tidying and cleaning inspired the most creative suggestions, with MoneySavers variously suggesting glasses that allow the wearer to see the mess the primary houseworker sees, or a surveillance device programmed to yell: "Oi! You! Pick that up!" every time something gets left out of place. And why let the laws of physics hinder creativity? The Forumite whose ideal cleaning device teleports your clutter into a formless void outside of time and space (with selective return if it's ever needed) didn't! Share your own fantasy household helpers and read others in our MSE Forum thread.

We hope you save some money,
The MSE team

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