The consumer champion also shared an easy way for some savers to boost their current interest rate.
Martin Lewis has warned that many people are “earning diddly squat” on their savings accounts and should consider ‘ditching and switching’ to a higher rate to maximise their money if they getting a return of five per cent or less. The Martin Lewis Money Show Live returned to TV screens across the UK on Tuesday night in a programme packed with tips and advice on how to navigate the additional costs of winter.
He also shared details of two easy-access savings accounts worth considering. He said: “Savings rates have gone up a lot since the end of the last series. So please check your savings rates as many of you are still earning diddly squat and the minimum you should earn is whatever the top easy-access account pays - that’s where you can put your money in and take it out whenever you want.
“So, if you’re earning less than 5% on your savings, and certainly less than 4%, you really need to think ‘why don’t I just ditch and switch and move somewhere better’”. Martin also told STV viewers that he’s planning to do a full programme on savings in a few weeks time. You can catch-up on The Martin Lewis Money Show Live on the STV Player.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Martin Lewis attacks 'scourge on society' after being 'most scammed face in UK'The Money Saving Expert founder spoke out after saying that criminals often use his face to con people out of money
Read more »
Martin Lewis warns of 'worst winter' as cost of living support dropsMartin Lewis warns that this winter will be even harder for people as cost of living support drops. He also highlights that 800,000 pensioners might not know they are eligible for the support.
Read more »
Martin Lewis warning to avoid missing out on 'crucial benefit'Nearly one million pensioners are missing out
Read more »
Martin Lewis: Do not bin £10,000 pension boost HMRC letterMoney Saving Expert founder Martin Lewis returned to ITV tonight and told pensioners to not bin an important HMRC letter.
Read more »
Martin Lewis issues direct debit warning to all energy customersMartin Lewis warned that many direct debits had risen despite rates dropping on the first of the month.
Read more »
Martin Lewis issues warning over HMRC letter that could be worth thousandsThe Money Saving Expert told his ITV show viewers to 'watch out' for the letter
Read more »