Ayodele Oyewole

The news is difficult to cope with right now. And while nothing we face compares to the dangerous, tragic, desperate situation in Ukraine (see how to donate money or needed items there) - life in the UK will get harder to afford for many.

Some of this is due to the necessary sanctions on Russia, which will exacerbate the cost of living crisis. Yet we must be watchful that the narrative doesn't change so the whole cost of living crisis is attributed to it. Many rises predate the conflict, and are due to structural problems that have been running far longer.

I don't have a magic wand to wave. Some areas can only be improved by political intervention, not MoneySaving - some, not all. Yet there are things you can do, and most need doing sooner to work...

1 April is the traditional time for utility and public service price hikes. This year is going to be the worst in my professional memory, with inflation (which groups together all price rises) predicted to hit a dire 8%. Action now is important - not everything is beatable though.

1 April: COUNCIL TAX UP 3% (typically £57/year)
Most councils have indicated they'll raise it by the max allowed, usually 3%, adding a typical £57/year for a band D property in England. You can't stop the rise, but do double-check you're not already overpaying...

Are you due a discount? If you live alone (or just with children or students), are on a low income, have disabilities or have a live-in carer, you may be entitled to a council tax discount.

Plus, many with conditions such as Alzheimer's or Parkinson's or who have had a stroke could be due a severe mental impairment reduction too.
Are you in too high a band? 100,000s of homes likely pay too much due to this. Way back in 2007, I came up with my council tax check 'n' challenge system. Over the years many thousands have got in touch with successes, like Flip who tweeted: "@MartinSLewis We checked and have been reimbursed £2,460 after paying too much since 2005. It let us pay off a debt with a little left over."

1 April (ish): BROADBAND & MOBILES UP 5% to 9% (incl BT, EE, O2, Plusnet, Sky, Shell, TalkTalk, Three, Virgin and Vodafone)
Many of the 16 million who are out of contract across these sectors are due big price rises. Most hit around 1 April, some are already in place. If so, see this as an opportunity to check if you can get a better deal elsewhere. Millions can radically reduce their price and often improve what they get too.

Broadband & line - halve costs. Most people out of contract pay £30 to £45/month. The cheapest deals come from short-lived sign-up incentives on price comparison sites, such as an Amazon voucher or money on prepaid Mastercards. Factoring incentives in over the contract, examples today include...

- Shell Energy: equivalent £14/month for 11Mb basic broadband & line
- Shell Energy: equivalent £17/month for 63Mb fast fibre broadband & line
- Full quick comparison: MSE Broadband, includes digital TV too
Cut mobile costs down to £5/month. If you're happy with your handset, Sim costs are dirt cheap right now, for example, iD Mobile is '£5.50/month' for 12GB data plus unlimited calls and texts (it's on Three's network). For a full comparison and different networks, use the MSE Cheap Sim Finder or the MSE Cheap Handset Finder.
Want to stick where you are? HAGGLE. If you're happy with your service, still use the comparisons above to benchmark the best deal. Then as long as you're out of contract, ask your firm to match them. Full help on how to do it in our Broadband haggling | Mobile phone haggling | Digital TV haggling guides.

Do remember politeness and charm works best. We've seen huge successes with this recently, like Lorraine, who emailed: "Thank you Martin for all the encouragement. I eventually plucked up courage to ring Sky and am very pleased that I did. I am saving a massive £442/year."

1 April: ENERGY BILLS UP 54% (typically £700/year)
The electricity and gas price caps, which the majority of British homes are on, will rise a nightmarish 54% on 1 April. There's no total cap on the cost you pay though, it's more a cap on the rate you pay for what you use - see the new price cap unit rates & standing charges.

We're also now one month through the six-month assessment period for the October price cap, and I'm sorry to say the astronomical cost of wholesale energy, due to the Ukraine crisis, means that so far it looks like it will rise again by over 40%, taking a typical bill to £2,900+/year or more. Previously unthinkable.

Clearly political intervention is needed, I hope/guess the Chancellor will address this in his Spring Statement due to be held on 23 March.

Time to fix? Watch / read transcript of my Is it time to fix? video from last week (I've added update notes to the top of it).
Urgent tips for prepay, direct debit, and £150 council tax rebate. Watch / read transcript of my new Three quick energy tips video, which covers why many prepay customers should top up now, why direct debit customers should ensure they do a meter reading on 31 March, and how to ensure you get the £150 council tax energy rebate.
Reduce usage, and help if you're struggling. A few more useful reads that may well help...

- Our Energy saving tips provides quick usage wins.
- Energy mythbusting, for example, 'cheaper to leave heating on low all day?'
- In dire straits? See Energy bills - struggling to pay?

PS: While there's no deadline, petrol prices are at all-time highs too. See our Cheap petrol & diesel guide for a few options to try.

Today (Tue) 8pm, ITV Martin Lewis Money Show Live
A cost of living crisis one-hour live special

Some things are easier to watch than to read. So as well as this email, tonight do tune in for my one-hour live Martin Lewis Money Show cost of living crisis special (& end-of-series finale). I'll be taking viewers' questions live too.

4 April: STAMP PRICES UP 12% - a way to beat it
1st class stamps will cost 95p (up 10p), 2nd 68p (up 2p). In past years, I've normally suggested you stock up on the stamps marked '1st' or '2nd' (not the price) to beat it, as they're still valid after the hike.

Yet new barcoded stamps are gradually being rolled out this year. You can still stock up on the current stamps and use them this year, but for them to stay usable after Jan 2023, you'll need to use Royal Mail's free stamp swap system it'll be offering to exchange them for barcoded ones. See Beat the stamp hike for full info.

1 April: WATER BILLS UP average 2% - Eng & Wales only
The rise varies hugely by who your water firm is. While Northumbrian customers will see a hike of 10%, customers of South West Water will see their charges drop by 6%. There's little you can do if yours is being hiked, but many are overpaying £100s by not switching to a water meter (many aren't too). My rule of thumb is...

Are there more or the same number of bedrooms in your house than the number of people in it? Image links to MSE's cut your water bills guide

If so, use a water meter calculator to see if you'll save

The impact can be huge, as David emailed us: "My water bills were £1,200/year. I got a water meter and it brought them down to £550 [saving £650/year]. Well worth considering. Thanks."

If it's impracticable to have a meter fitted, don't give up. You can ask for an assessed measured charge. For more help, including 100,000s of water-saving FREEBIES, see our Cut water bills guide.

6 April: NATIONAL INSURANCE to rise 1.25% points
For those earning over £190/week, national insurance contributions (NICs) - which are for all intents and purposes a tax - will rise.

- Employees' Class 1 NICs rate up from 12% to 13.25%
- Self-employed Class 4 NICs up from 9% to 10.5%
- Employee & self-employed NICs on over £50,270/year up from 2% to 3.25%

The NICs employers pay will rise too. There's little you can do about any of these. The Government says the rise is to pay for health and social care costs. See NICs rise explained. Related: Treasury changes NICs info after Martin Lewis calls it misleading.

1 April: NHS PRESCRIPTIONS likely to rise (Eng only) We're awaiting confirmation, but it is possible. There are two quick checks worth making.

Do you need to pay? Some are exempt - check the NHS England tool.
Are you one of 1m people overpaying as you don't use PPCs? Over 1m people from Apr 2020-Apr 2021 would've been better off using an NHS prescription prepayment certificate (PPC, or season ticket), which for a one-off fee means you don't pay for prescriptions for three months or one year. If you use more than one prescription a month on average, it's worth it.

With the tax year soon ending, you need to steal a March on April. There are many things that must be done now or it can cost you. I'll split it into two key areas, none of which are really about tax-planning, which is a whole other subject, I'll leave that to accountants...

1) The 'you can only claim back four years' deadlines

Many taxable areas allow you to backdate claims by up to four tax years (on top of the current one). So with a new tax year starting on 6 April, unless you act now, you lose the chance of claiming anything you're due from the 2017/18 tax year (6 Apr 17 - 5 Apr 18).

TAX CODES: Urgently check if yours is correct. A tax code is a series of letters and numbers, for example 1257L, which tells your employer/pension provider what tax to deduct. Yet MILLIONS ARE WRONG and it is your legal duty to check.
We warned a couple of weeks ago about checking your new code, which should have just arrived. Yet it's crucial to check past years too. You've only until Tue 5 Apr to get a refund for overpayments in 2017/18. Use our Free Tax Code Calculator.

As Julie emailed: "I saw your item on tax codes and rang the tax office. I received a £700 rebate - never had a rebate in my life. Thanks for telling us."
WORKING-FROM-HOME TAX BACK: Worth up to £280. During the pandemic, HM Revenue & Customs set up a 'microservice' that means even if you only had to work from home for one day, if you had increased costs due to it, you can claim the tax back for the whole year (previously, you could only claim for the days at home).

You can still claim for both the 2020/21 and 2021/22 tax years. Yet there are (unconfirmed) rumours that things may soon revert to how they used to be, so if you haven't done it, go quick. Full help in my Working-from-home tax back blog.
MARRIAGE TAX ALLOWANCE: Apply now or lose £230. If you are married or in a civil partnership (not just cohabiting), and one of you is a NON-taxpayer and the other pays tax at basic 20%, you're eligible for the marriage tax allowance (MTA).

It lets the non-taxpayer transfer 10% of their tax-free allowance (so this year £1,260) to their spouse so they pay less tax (this year £252).

It is backdatable for four years, meaning many are due a big amount. As Ian emailed us: "The transfer of some of my wife's tax allowance to myself has resulted in a £968 cheque, plus tax savings going forward. It was simple and the money is welcome during these difficult times. Many thanks."

Crucially, if you were due it in 2017/18, don't delay or you'll lose £230. Once you've claimed you needn't claim again, as provided you're still eligible you can keep getting it.
PPI TAX BACK. Had a payout? Claim tax back now. With successful PPI reclaims, you don't just get what you paid back - they must add 8% statutory interest on top. This extra counts as savings interest, but unlike savings, 20% tax is automatically deducted.

As most needn't pay tax on savings, you can reclaim this. My Reclaim PPI tax blog takes you through it - but go quick if your payout was in the 2017/18 tax year. Elizabeth's email shows why it's worth it: "A cheque arrived for £399 within three weeks of submitting the claim. Thank you."
UNIFORM TAX REBATE. If you wear a recognisable work uniform (for example, a branded T-shirt), and wash or repair it yourself, you can likely claim a tax rebate. And again, go quick to backdate it longer. Full help in our Uniform tax rebate guide.

2) The 'use em or lose em' ISA deadlines

Each tax year you're given a range of tax-free allowances. With the simplest, individual savings accounts (ISAs), you can't carry the allowance into the next tax year. And while 5 April is the deadline, in practice it takes time to get the money in, so if you've got the cash, get your skates on...

FIRST-TIME BUYERS: Fill up £4,000 Lifetime ISAs.
Lifetime ISAs (LISAs) can be opened by UK residents aged 18-39, and give first-time buyers using it towards a home worth up to £450,000 (or those saving until age 60) a 25% bonus up to £1,000 a year on everything they manage to save.

You can put up to £4,000/year in, so if you haven't filled it (or maybe haven't opened one), consider if it's worth it quick. Full help in our Top LISAs guide.
PAY TAX ON SAVINGS OR INVESTMENTS? Consider an ISA. An ISA is a wrapper you can put around savings or investments, so they work like normal but you just don't pay tax on them. You're allowed to put in a total of up to £20,000 a year (including LISAs), and once it's in, it stays tax-free year after year.

Cash ISAs have little use for most, as most can earn up to £1,000 a year of interest before it's taxed (see Personal savings allowance info), and top normal savings tend to pay better rates. Yet if you're a big saver or a very high earner, so you do pay tax on savings, you have until 5 April to use this year's allowance. See our full Top cash ISAs guide (also see Top junior ISAs).

For investors, unlike savers, doing it within an ISA is usually a winner. More help is in our Stocks & shares ISAs 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.

New. Cheapest-ever loans - 2.7%. If you NEED to borrow, speedily check if you'll be accepted without hurting your creditworthiness

This week, the cheapest loans are at 2.7% - equal to the cheapest we've ever seen. So if you've a planned one-off purchase coming up (for example, a much-needed new kitchen) and you NEED to borrow, now's a good time. Yet only ever borrow if it's planned, budgeted for, and you can afford repayments. NEVER borrow willy-nilly to fill gaps in income, or to cover increased bills due to the cost of living crisis - it can very quickly spiral and leave you in a worse place. Full info's in Cheap personal loans, but here are the key details...

New. Cheapest-ever loans - 'personal rate' 2.7% on £5,000+. Ratesetter (via this MSE Loans Eligibility Calculator link) offers the new cheapest 2.7% rate for borrowing £5,000+, and is generally cheap for smaller amounts too.

Unlike most loans, it doesn't have an advertised APR. Instead, via our eligibility calculator, you're told if you're likely to be accepted and - unusually for a cheap loan provider - you get your exact rate before applying without impacting your creditworthiness. Most other cheap lenders offer representative APRs, so only 51% of accepted customers need get that rate, the rest can be charged more. But you usually won't know what you'll get without applying.

Our stats show more than half of those accepted for Ratesetter loans in January, who applied through us or via a similar route on MoneySupermarket, got its cheapest rate (or very close to it) for loans of £7,500+. Though for other amounts, less than half got the very cheapest rates.
Cheapest standard loan rates from 2.8% representative APR. Now let's see how Ratesetter compares - we've included it where its cheapest rate undercuts the cheapest representative rate. With all these lenders, it's still best to go through our Loans Eligibility Calculator as it'll show you who's most likely to accept you.

£1,000-£2,999: Novuna* (formerly Hitachi Loans), 9.8% rep APR, but credit card loans are cheaper.
£3,000-£4,999: Ratesetter, 'from 6.7%'. AA*, 8% rep APR for members (8.1% non-members) + claim a £30 voucher. Post Office, Bank of Ireland* & Novuna*, all 8.1% rep APR.
£5,000-£7,499: Ratesetter, 'from 2.7%'. Sainsbury's, 3.3% rep APR for Nectar members. Novuna*, 3.4% rep APR.
£7,500-£15,000: Ratesetter, 'from 2.7%'. M&S*, Cahoot*, Santander* & TSB*, all 2.8% rep APR.
If you do borrow, follow the Loan Golden Rules. Full info and options in Cheap personal loans (APR examples).

a) Minimise the amount you borrow and repay as quickly as possible.
b) Pay on time (preferably by direct debit) or you may be charged and get a missed payment on your credit report.
c) If you're getting a loan to pay off credit cards, a balance transfer may be cheaper.
d) If you're already struggling with debt, don't borrow more - see our Debt help guide instead.

Get a massive TOP paying 1% easy-access savings (next best 0.8%) and a FREE £150. Martin explained step-by-step how to play the system to get both in last week's email. It was hugely popular. Best to read that, but as a brief reminder... open Virgin Money's M Plus bank account* and you get access to its 1% AER variable savings (max £25,000) even if you don't switch your existing bank to it. If you do switch to it, you also get a £100 'experience day' voucher (for example, a driving track day) and other perks, but you could get more switching to other deals, such as First Direct's FREE £150 and top service*. Full eligibility info for both in Best bank accounts.

Find your NEW April take-home pay with our updated Income Tax Calculator. The next tax year starts on Wed 6 Apr. Thresholds are frozen, but national insurance is rising. Use our Income Tax Calculator to check your new take-home pay.

Are you keeping the RIGHT food in the fridge? It's Food Waste Action Week, so check where you should keep bread, fruit, veg and more.

Ends 11.59pm Wed. Shift card debt to 28 months at 0% and get £20 cashback. A balance transfer is where you get a new card that pays off existing costly cards for you, so you owe it instead. A top pick for £2,500+ transfers is Sainsbury's up to 28 months 0% (up to 1.5% fee)*, as it gives £20 cashback if you apply by 11.59pm Wed, slashing the fee. Use our 0% Eligibility Calculator to check your acceptance odds for this and other top cards. Golden rules: Do the transfer at application to get the low fee, always repay at least the monthly minimum, and clear the card before the 0% ends or it's 21.9% rep APR interest. Full help & options in Top balance transfers (APR examples).

24 Beer52 craft beers for £26 delivered (normally £74). MSE Blagged. 10,000 boxes available. Beer52 (please be Drinkaware).

New. Cheapest iPhone 13 contract - 100GB £32/month. MSE Blagged. Buying the latest iPhone isn't MoneySaving, but if you're doing it anyway, we've seen nowt cheaper than this 128GB iPhone 13* for Three newbies via Buymobiles. It comes with 100GB/month of data and unlimited mins & texts. There's no upfront cost, just a simple £32/month - £219 cheaper over the two-year contract than buying the handset outright and pairing it with a similar data Sim. Want a different handset? See MSE's Cheap Mobile Finder tool. Note: Three is responsible for the contract, Buymobiles for the handset.

Did your energy firm go bust? Our survey of 12,000 people shows British Gas is worst to be moved to. Many said they'd been waiting months for credit refunds and were "left in the dark" about the transfer process. EDF and Shell Energy also performed poorly. Read our full report and help on how to complain.

BLAGGED FOR MSE

- Cheapest iPhone 13 contract - 100GB £32/mth Ends 17 Mar
- 24 Beer52 craft beers for £26 (normally £74) 10,000 boxes
- 8 Nails Inc polishes for £28 (normally £109) 1,800 available

DID YOU MISS?

- FREE Wills this March
- Want to work at MSE? Three roles available
- Martin: 'Uni costs up £50k for some in student finance shake-up'
- Up to 10% cashback off mobile bills via app
- £5 Boots 17 eyeshadow vs £28 Huda - find beauty 'dupes'

'My husband walked out on me and three kids. I struggled to find dinner money and fell behind on rent - I'm now claiming £3,700 a year, THANKS TO YOU'

A simple plea from us - if you're struggling, if you're worried about finance, just spend 10 minutes to see if you're entitled to any help from the state. You may be surprised. Joselyne certainly was, as her uplifting email to Martin below shows. Not everyone will be, but it's definitely worth spending a bit of time to double-check, especially if you have total household income under £30,000. Just use our:

Free MSE 10-minute universal credit and benefits check-up tool

To: successes@moneysavingexpert.com
Sent: 3 March 2022, 9.28pm
Subject: Saving money by applying for universal credit

I just wish to meet you Martin and give you a massive hug [Virtual hug accepted - Martin]. Five years ago, my husband walked out, leaving me with three children to take care of. I struggled to balance the bills, accumulated rent arrears and almost got evicted by my landlord.

I applied for housing benefit and was rejected. The officer advised me to reduce my working hours, but I thought this would compromise my experience, so I plodded on.

I watch your program every time you are on, given the opportunity. It feels like a postgraduate certification course in advanced economics. I sit with a pen and paper taking notes. Anyhow, when you advised people to try claiming universal credit, I did!

Guess what? I'm actually entitled. I was awarded half of my rent, worth more than £3,700 a year.

I work full-time, but can't afford to go on holiday or to take the children to the movies to say the least. I have been struggling to pay dinner money so that my children get a decent meal at school, yet I work. Full-time. Each time you talk of parents meeting their children's university fees, I get a chill.

Now, my lips have a new song.

Thank you. Kind regards,

Joselyne

PS. While it's not a postgraduate certification course, if you do want to learn more about managing your finances, try MSE's Academy of Money, a free online financial education course provided in partnership with the Open University.

Boots 'up to 70% off' sale boost? We've heard strong rumours it could start soon. Plus M&S has an 'up to 50% off' sale and Adidas 30% off full-price. See our full Sales round-up.

FREE £50 investment - just put in £50, get £50 cashback. ONLY 1,200 left. We told you about this Wealthify deal last week, but it was so popular we crashed its site. If you missed out, there's still a chance to get this 'free' £50 investment boost - but you'll likely need to be quick. Full info in Robo-investing cashback.

Eight-piece nail polish set for £28 (normally £109). MSE Blagged. Vegan and cruelty-free. 1,800 available. Nails Inc

Urgent. Get Healthy Start vouchers? Payments will stop unless you apply for a prepaid card NOW. Paper vouchers will be scrapped from Thursday, so you need to apply for a prepaid card now. We've also full help on teething issues with the new scheme. See Healthy Start shake-up.

2for1 beer, spirits or soft drinks at 700+ pubs. 20,000+ free drinks available in England and Wales - see 2for1 drinks. Please be Drinkaware.

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AT A GLANCE BEST BUYS

Longest 0%: MBNA (check eligibility / apply*) - up to 33 months 0%, 2.69% or 3.49% fee (21.9% rep APR interest)
No-fee 0%: Santander (check eligibility / apply*) - 21 months 0% (20.9% rep APR) or NatWest - 22 months 0% if you're a NatWest/RBS customer (21.9% rep APR)

Standard (10Mb+): Shell Energy '£13.83/month'
Fibre (30Mb+): Shell Energy '£16.58/month'
Superfast fibre (55Mb+): Shell Energy '£16.58/month'

Top standard easy access: Cynergy Bank 0.8%, min £1
Top one-year fix: Tandem 1.55%, min £1

Get comparison site quotes in this order:

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

£150 to switch + TOP service: First Direct
£150 to switch + £3/month cashback: NatWest/RBS

Up to 3GB data: Lebara, '£3.90/month' for 1GB, 300 mins & unlimited texts
4GB-9GB data: Lebara, '£4.28/month' for 5GB, unlimited mins & texts
10GB+ data: iD Mobile, '£5.50/month' for 12GB, unlimited mins & texts

THIS WEEK'S POLL

What items do you buy second-hand? Doing so is cheap and environmentally friendly, yet some people think only new will do. So this week, we want to know what items are you happy to buy second-hand?

Most MoneySavers DO have a will. Last week we asked if you have a will, and if not, why not? Two-thirds of the 5,000 people who voted (67%) said they have one - although of those, around a quarter admitted theirs isn't up to date. Of those who didn't have one, "not getting round to it" was the most common reason why. See the full will poll results (and for help on getting one, see our Cheap wills guide).

MONEYSAVING NEWS

- Top story: Royal Mail U-turn means Christmas stamps can be used after 2023
- Premium Bond winners for March revealed
- Claims management firms now have fees capped
- Student finance applications for 2022/23 are now open

MONEY MORAL DILEMMA

Should my friend split the speeding fine I got? On a recent holiday, a friend and I shared the driving. I was driving us to the airport for our flight home when we were stopped by the police and given a ticket as I'd gone slightly over the speed limit. Of course speeding is wrong and I feel bad for doing it, but should I pay the fine because I was driving, or should my friend split the cost as we were both keen to get to the airport in plenty of time for our flight? Enter the Money Moral Maze: Should my friend split the speeding fine I got? | Suggest an MMD

Win revision packs for kids
Win science kits for kids
Win a sound button book series for toddlers

Win a PetSafe fountain
Win a pet portrait gift bundle
Win a bag of Wiggly Seed for birds

MARTIN'S APPEARANCES (WED 9 MAR ONWARDS)

Wed 9 Mar - Ask Martin Lewis, BBC Radio 5 Live, 1pm. Listen to past episodes
Fri 11 Mar - Talk at The Ideal Home Show, Olympia, Kensington, 11.30am
Mon 14 Mar - Talk at The Ideal Home Show, Olympia, Kensington, 11.30am

MSE TEAM APPEARANCES (SUBJECT TBC)

Tue 15 Mar - BBC Radio Cambridgeshire, Mid-morning with Jeremy Sallis, from 12.40pm

'MY MUM TAUGHT ME THE IMPORTANCE OF SAVING.' DOES MONEYSAVING RUN IN THE FAMILY?

That's all for this week, but before we go... MSE Forumites have been discussing whether MoneySaving is a family trait. One poster says she gets her frugality from her mum - unlike her sister, who says paying bills is a waste of her hard-earned cash (and eventually went bankrupt). Another gave a shout out to her "single mother of three who worked three jobs to keep us afloat" and that she learned the importance of saving from her. But we really loved that one Forumite is "currently training a parent in the use of all things MSE", showing that MoneySaving doesn't always have to pass down the generations. Join the does MoneySaving run in the family? MSE Forum discussion.

We hope you save some money, stay safe,
The MSE team

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