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Money saving expert Martin Lewis is urging people to buy stamps before they face a price increase next month. Royal Mail has announced significant price hikes that will take effect from October. Lewis advises listeners to stock up on stamps in the coming weeks, specifically first class stamps without a price on them.
The price increases include a rise in the standard first class stamp from £1.10 to £1.25, while the large first class letter size will increase from £1.60 to £1.95. The standard second class stamp remains the same at 75p, but the large second class letter size will increase from £1.15 to £1.55.
According to Lewis, the price hike may be a way for Royal Mail to encourage the use of second class mail instead of first class. His advice is to buy stamps now and in bulk to save money in the long run. Stamps without a specific price on them, but marked with the postage class (either first or second class), will still be valid after the price increase. These stamps can be used for future Christmas cards or any other postal needs, as they will remain valid in perpetuity.
Royal Mail justifies the price increase by citing the cost of living increases and the universal service obligation, which requires the postal service to deliver letters to all UK addresses six days a week. The company states that delivering a decreasing number of letters to an increasing number of households is becoming unsustainable.
To save money on postage expenses, take advantage of the opportunity to stock up on stamps before the price hike takes effect next month. Remember to buy stamps marked with the postage class and avoid stamps with a specific price on them.
Sources:
– BBC Podcast with Martin Lewis
– Royal Mail spokesperson
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