Related Articles
It’s that time of the year when money is looking a bit tight, we’re all trying to get a bargain while also trying to keep control of the purse strings.
We’re all looking for ways to save cash and many of us routinely look towards Money Saving Expert Martin Lewis for some pearls of wisdom.
And as always, the financial guru has issued plenty of advice, and warnings, over the last few days to help make sure people know the best deals.
Among the advice he’s issued this week are warnings about gift vouchers, information for the self-employed, and changes to Tesco’s Clubcard.
We’ve put together a list of the Money Saving Expert’s advice from the last few days – just in case you missed it earlier in the week.
Warning for shoppers thinking of buying gift vouchers as Christmas presents
Martin Lewis has one piece of advice for anyone thinking of buying gift vouchers as a present this Christmas – don’t do it.
On ITV show The Martin Lewis Money Show he answered a question from viewers concerned about what to do with their vouchers for Topshop and Debenhams, with both retailers going into administration.
Topshop owner Arcadia has limited spending on gift cards to 50% of the purchase.
For example, this means only £25 in the value of a card could be redeemed on a £50 order.
Meanwhile troubled department store Debenhams, which is preparing to close all its stores if a buyer is not found, is warning all shoppers to spend their vouchers as soon as possible.
There is currently no spending limit on its vouchers.
Martin said: “Gift vouchers are not safe, if a company goes into administration they’re worth nothing.
“So look I would use your voucher quickly if I were you, I’d get it used. I wouldn’t though, if you don’t want to spend it on something of that value, don’t throw bad money away after good.
“I’d also buy in store, because if you deliver now and something were to happen with the administration, you wouldn’t get the delivery. As long as it’s safe for you to go in store I’d go and use my voucher as quickly as possible.”
And he added: “If you’re thinking of giving gift vouchers for Christmas let this be a warning to you!
“Be careful with gift vouchers this Christmas with so many retailers in trouble.
“Go and give them money to spend in there instead.”
How to cut the cost of sending Christmas parcels
On ITV show The Martin Lewis Money Show Live, Martin discussed various ways to cut costs when sending gifts – and sometimes, he says the Royal Mail works out as the best option.
His top piece of advice is to get the retailer you’re buying from to deliver your gift.
He said: “If you’re going to buy something from a retailer order it online and get them to do the delivery. That even applies for abroad.
“It is generally the cheapest way, both in its own right and also because you’re not having to pay for them to send it to you and you to send it on to somebody else.”
For parcels you want to send yourself, if it’s smaller than 1kg then Martin says Royal Mail is probably your best bet.
Video Unavailable
He said: “Go to their website for a check, both for the UK and abroad. You may be able to beat it in certain circumstances but generally it’s pretty competitive.”
For parcels over 1kg, he recommends using a reseller – companies who buy up the spare capacity of big parcel firms like DHL and Hermes.
He said: “When you do it through a reseller you have the same rights and insurance as you do direct – but they are no frills companies so the customer service might not be as good.”
Martin also warned anyone sending a parcel to check what their insurance covers before they send it – especially if the items inside are valuable.
The latest episode of his show also highlighted Premium Bonds, buying gift vouchers as Christmas presents and power of attorney refunds.
Urgent warning to every self-employed worker in the UK
This week, the MoneySavingExpert.com founder has issued an urgent warning to anyone in the UK who is self-employed.
It comes after he spotted a glaring issue with the Self Employment income support scheme.
Mr Lewis took to social media to sound a stark warning to his followers this week, reports Birmingham Live.
Mr Lewis warned: “One problem with the Self Employment income support scheme (grant 3 opened yest) is its binary.”
He continued: “If you qualify even if you’re only down 10% you get WHOLE amount (poss £7,500). Had it been more graduated, it wouldn’t have cost much more to expand to many who were #ExcludedUK “
“And if your self employed with a business thats been going under a year your entitled to nothing,” one follower replied, as fuming MSE fans left comments underneath Mr Lewis’ post.
A second added: “Every week I see the support behind #ExcludedUK grow, whilst 9 months into a global pandemic @RishiSunak leaves 10% of the workforce out of meaningful financial support for the 3rd time.”
They continued: “Solutions have been proffered. He NEEDS to act now.”
“An appalling & heartbreaking shambles. I know many people who‘be claimed over £25,000 on the SEISS, despite barely (if at all) having any drop in income. Shame on them & shame on the Government for such a badly implemented scheme,” another wrote.
A fourth added: “It’s unbelievable that some people are actually doing incredibly well out of the support schemes, while others are being left out in the cold due to Rishi’s ill founded fears about “potential fraud”. How can the government justify this?”
Tesco Clubcard change
Millions of shoppers could be hit by changes coming to Tesco’s Clubcard, as the scheme prepares to drop one of its key rewards in 2021.
Money Saving Expert Martin Lewis has shared the news that Tesco is ending its partnership with streaming service Now TV effective as of January.
Currently, Tesco customers can spend their Clubcard points on Now TV credit with it tripling in value (50p to £1.50 in Now TV credit for example).
But the deal will end on January 31, and customers will no longer be able to exchange Clubcard vouchers for Now TV credit.
The credit that Tesco customers have previously spent Clubcard points on will still be valid until the expiration date supplied in the e-mail sent when exchanged.
Now TV was previously one of Money Saving Expert’s top picks when it cames to Clubcard boost deals – with no similar boost deals for any other streaming service.
However, there are some other deals that Martin Lewis and his team have recommended shoppers to take a look at. These include getting triple the value with Cineworld where you can swap 50p in Clubcard vouchers for £1.50 towards a cinema ticket.
Other top picks include Goldsmiths vouchers, railcards, and magazine subscriptions.
To keep updated, follow LancsLive on Facebook and @LiveLancs on Twitter.
Have you got news for us? Contact our newsdesk on lancslive@reachplc.com
You can also sign up for free daily updates with the LancsLive newsletter here.
You can also sign up to our Christmas newsletter, here.
