Martin Lewis shares quick ways to reduce your monthly spending to beat cost of living crisis
dailyrecord.co.ukMartin Lewis returned to the small screen this week after a short festive break in a packed programme covering the cost of living crisis which is set to impact millions of households across the country this year.
The consumer champion explained to viewers of The Money Show Live how the energy bill price cap is rising, EU mobile phone roaming charges are being reintroduced, National Insurance Contributions are going up, rail fares are increasing and mortgage interest rates are changing.
Due to the rising costs of global wholesale gas prices, Martin predicted the energy bill price cap will shoot up by a staggering 51 per cent in April, which could result in the average UK household shelling out a further £600 on gas and electricity bills this year alone.
And it could go up even more in October 2022 when Ofgem conducts its autumn review. Asked what consumers should do about their current tariff, Martin advised that the "vast majority" of people should still “do nothing” and stick to their current fixed energy deal, especially if it's below the price cap at the moment.
Read more on dailyrecord.co.uk