Cost of Living LIVE: The Martin Lewis Money Show on tonight as households warned bills could rise by over… – The Sun

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MARTIN Lewis hosted a special edition of his Money Show tonight as millions of Brits fear rising energy bills.

In the show, the MoneySavingExpert explained that now the Energy Price Guarantee , which caps average bills at £2, 500 per year, will only last until April, bills could rise by more than 70% in the spring.

In fact , experts at Cornwall Insight suggest that  bills   will rise from £2, 500 to £4, 350 a year from April 2023 without the freeze in place.

Mr Lewis also explained how Brits can easily get their hands on a free £200 simply by switching bank accounts.

Nationwide   is  paying new customers £200   to switch, with the money being sent by Christmas. To get your hands on the cash, head over to Nationwide’s website, or use its app, and switch from a non-Nationwide current account to a  FlexDirect   account and have two direct debits set up.

Read our cost of living live blog below for the latest updates ….

  • Government planning ‘targetted’ energy support, Martin Lewis reports

    Martin Lewis has said last night that instead of the Energy Price Guarantee, the government will aim for “targetted” energy support.

    This could mean that the most vulnerable are aided but not those who no longer need help.

  • How to cut back pet costs

    Visiting a professional dog groomer costs an average of £43 or £258 per year for six visits, according to  Vouchers. co. uk .

    Cut this cost by DIY grooming including regular brushing, nail clipping, cleaning around their eyes, trimming coats and occasional baths.  

    Check out YouTube for tips on caring for your specific breed’s coat, the General Pet Grooming and Go Groomer channels are a good place to start.

    Find cheap tools, like a Furminator deshedding tool, and there’s currently 25 per cent off at Pets at Home, costing from £19. 50 depending on the size of the dog.

    Search Gumtree, eBay and Facebook marketplace for secondhand equipment and toys.  

  • Use radiator reflectors to save on expenses

    If you are looking for an easy way to cut down your heating bill,   radiator reflectors   might be the answer.

    Ben Gallizzi, energy expert at  Uswitch. com , said: “Radiator reflectors cost as little as £14 for a roll, but some products claim to reduce heat loss by up to half.

    “With the average household spending more than £900 a year on heating, even a five per cent efficiency saving would cut your gas bill simply by £45. ”

  • Free debt advice

    If you’re in debt there are plenty of services you can take advantage of and they offer free advice on how to manage debt.

    Most of them can offer you free guidance and help in person, over the telephone or online.

  • That’s all folks!

    That was a packed hour of helpful advice from Martin Lewis.

    From a free £200 to rising bill prices, there was a little bit of everything.

    Stick with this blog for more Cost of Living advice.

  • Martin Lewis says switch your bank account to get up to £200

    Brits can get their hands on up to £200 simply by switching bank accounts, according to Martin Lewis.

    Nationwide   is  paying new customers £200   to switch, with the money being sent by Christmas.

    To get your practical the cash, head over to Nationwide’s website, or use its app, and switch from a non-Nationwide current account to a  FlexDirect   account and have two direct debits set up.

  • Do your energy at low-cost times, Martin Lewis says

    If you have a time-of-use tariff, it might be a good idea to do your washing in the evening to save cash, according to Martin Lewis.

    However , if you don’t have a time-of-use tariff, the time you use energy will have no impact.

  • Interest rates will keep rising, Martin Lewis Money Show reveals

    A guest on Martin Lewis’s Money Show revealed that interest rates will continue to rise for some time, despite Jeremy Hunt’s intervention this week.

    This is, according to the guest, because these rises were already priced in before the mini budget was scrapped.

  • Should you claim power credit?

    Matn Lewis revealed tonight if you should claim the credit on your energy account.

    He said Brits should wait until April and if they are still in large amounts of credit, then claim it back.

  • Martin Lewis reveals who will get £324 next month

    Charlie Lewis revealed this evening which Brits are eligible for the government’s second cost of living payment.

    If you claim the following, you should get £324 after November 8.

    • Income-based Jobseekers Allowance
    • Income-related Employment and Support Allowance
    • Income Support
    • Working Tax Credit
    • Child Tax Credit
    • Pension Credit score
    • Universal Credit rating

  • Government planning ‘targetted’ energy support, Martin Lewis reports

    Frank Lewis has said tonight that instead of the Energy Price Guarantee, the government will aim for “targetted” energy support.

    This could mean that the most vulnerable are aided but not those who no longer need help.

  • Bills to rise a staggering 73% in April

    Martin Lewis said on his Money Show tonight that energy bills may rise by an eye-watering 73%.

    In real-money terms, this will see a £2, 500 per year vitality bill grow to £4, 350 

  • The £2, 500 price cap ‘does not exist’, claims Martin Lewis

    Martin Lewis tonight revealed that the so-called £2, 500 energy bill cap Brits have been granted until April is a ‘myth. ‘

  • Interest rates won’t go back down, Lewis says

    In tonight’s episode of the Martin Lewis Money Show, the expert said that interest rates won’t fall in the short term once they rise next year.

    He reports that interest rates will rise by “around 5%”.

  • Martin gives Brits a catch-up

    Things have been moving at breakneck pace in recent weeks, so Matn Lewis began his Cash Show by giving Brits the recap of events.

    From the shortening of the Energy Price Guarantee to soaring interest rates.

  • The Martin Lewis Funds Show to air soon

    Martin Lewis will take to ITV in just 20 minutes for a special episode of his Income Show.

    The expert will discuss the particular recent changes to the Energy Price Guarantee, as millions of Brits fear soaring bills.

    Tune in on ITV at 8pm.

  • Bills could hit £4, 350 per year, says Martin Lewis

    Following the decision in order to scrap the Energy Price Guarantee in April, Martin Lewis has revealed that bills can almost double.

    Explaining what might happen to our bills, he said: “About a year and a half ago, if you were on a cheap fix you were paying £800 a year and if you were on a variable rate you were paying £1, 100.

    “Until October that had gone up to £1, 971 on the cap, it’s now up to £2, 500 and from April 2023 we’re talking £4, 350 a year. ”

  • What to expect from tonight’s show

    Martin Lewis took to Twitter this evening to share what Brits can expect from his special Money Show tonight.

    The expert says he will discuss typically the scrapping of the Energy Cost Guarantee, bills and mortgages.

    The show will air tonight in 8pm on ITV.

  • Martin Lewis gives his verdict on mini-budget shake-up

    Charlie Lewis, the UK’s resident MoneySavingExpert, took to Twitter to share his thoughts on Jeremy Hunt’s changes.

    Writing on Twitter, Mr Lewis said: “Hunt says strength price guarantee to remain until April.

    “After that treasury review on how to support energy prices.

    “Plus all mini-Budget tax measures (barring stamp duty and NI cut) now not happening, so no cut in basic rate.

    “Trussenomics totally hunted down and gone. ”

    He added: “While energy intervention was desperately needed – an universal energy price guarantee was always expensive and poorly targeted.

    “The post-April support will still need reach a decent way up the net and support middle earners, energy rates are still huge. ”

    Click here to read more .

  • Are you eligible for the cold weather payment?

    The cold weather payment helps struggling Britons get through periods of extreme cold.

    You can get as much as £25 for every seven days that will temperatures hit below zero.

    You are eligible if you claim the following.

    Depending on your specific circumstances, you may also need to meet one or more of the following additional criteria:

    • Have a disability or be in receipt of pension premium
    • Have a child who is disabled
    • Be in receipt  of  child tax credit   that includes a disability or severe disability element
    • Have a severe or enhanced disability premium
    • Be in receipt of a limited capability for work amount
    • Have a child under five living with you

    Regardless of employment, Universal Credit claimants are eligible if they have a disabled child amount in their claim.

    You can find out more about eligibility on the  government’s website .

  • Get cheap gym memberships if you claim Universal Credit

    A little-known benefit of Common Credit is discounts upon gym memberships across the country.

    How much of a discount you’ll get will depend on your local council.

    To find yours, you can use the  government’s locator tool.

    To apply, you’ll need to go through your local leisure centre, but first you should check whether they offer a discount.

    Universal Credit also gains access to dozens of other benefits that you can see  here .

  • Bills may rise by 70% without intervention Martin Lewis claims

    Martin Lewis has said that Brits may possibly experience staggering increases in their bills when the energy cost guarantee ends in April/

    Martin stated that if the original price cap returns, the average household  energy bill   could rise by over 70% in the spring.

    New predictions by experts from Cornwall Insight suggest that  bills   will rise from £2, 500 to £4, 350 a year from April 2023 without the freeze in place.

    This comes after Jeremy Hunt ripped up almost all of the PM’s mini budget, including the plan to cap energy bills for the next two years.

  • Millions of pensions under threat as government hints at triple lock scrap

    The government has refused to rule out the scrapping of the triple lock about pensions.

    If scrapped, this would affect around 12 million OAPs with some retirees at risk of being £12, 000 worse off.

    When asked about this policy, a spokesperson for  the PM   said: “We are very aware of how many vulnerable pensioners there are and indeed our priority… is we continue to protect the most vulnerable in society.

    “The Prime Minister and  often the Chancellor   are not making any commitments in individual policy areas at this point.

    “But as I say the decisions will be made through the prism of what matters most to the most vulnerable. ”

  • Sun readers slam decision to be able to shorten energy guarantee

    Yesterday, Jeremy Hunt announced that the Energy Price Assure would no longer last for two years, rather the scheme would end in April.

    This news came as a shock to Brits, including NHS worker and mother Meghan Dancer.

    Megan says : “To cut short the energy guarantee so soon is unfair. It will get us through the winter but what happens if it’s not that warm in April? ”

    “The worst thing is the waiting and the worry. ”

  • How much do game consoles cost to run?

    As energy bills continue to rise, finding ways to cut spending is crucial.

    But how much exactly do your game consoles cost to run? And how can you save on them?

    When plugged in on standby, the PS5 costs approximately  £4 a year  to run after the price increase.

    Meanwhile, while playing you are spending around 10p per hour.

    Checking your TV settings is the best way to save on sport consoles, with turning your brightness down being an effective solution.

    For more tips,   check out our full guide.

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