Martin Lewis issues a stark warning

[GreenLunchBox]

And I'm really quite scared what's going to happen 😭

twitter.com/MartinSLewis/status/1549305060320067585?t=2QJm_R-HS3gXtUUCoy_8tA&s=19

We’re not allowed to say that. OP thinks it’s smug and self-congratulatory. Just have to cheer Martin regardless 🤷🏻‍♀️

Am very glad we ignored his advice and fixed so have u til October 23 to put some money away for the hike. Mortgage about to jump from a fix of 1.5 to 3.5 but its only a small mortgage so will be doable...the plus side of not having a nice big house, much as I would like one.
Its petrol thats crippling us at the moment. I do a few hundred miles a week just to work and back and really feeling that one.
Just trying to ecomomise wherever we can

@dementedma @HinchcliffeandMurgatroyd his advice was for most people fixing is wrong.

He always caveats his advice.

Unfortunately he often forgets his caveats aren't very clear as he has to repeat the same advice repeatedly.

(I was in a fix at the time so it made no difference to me.)

I lost all remaining respect for him when he plugged the Icelandic banks so heavily. I (along with most financial advisors) was warning my own clients to stay well clear.

It’s not scaremongering when he’s speaking the truth ! Sadly too many people like yourself prefer to wear Tory tinted glasses

In my Octopus account it says that there is data available for every home in the country based on historical usage and weather patterns that predicts what your usage will be.

@BarbaraofSeville they must all be using data from 20 years ago because every single supplier has got my estimates wrong and I use to change every year. They overcharge me so when I use to swap at the end of winter I had credit in my account.

How are some peoples monthly gas and electric usage so high? Between 4-500 pounds?! I’ve got a 2 bed terrace and use 150 a month. Yes I’m aware it will be more like 200 soon but do some of these mumsnetters live in mansions?

Didn’t he say not to fix in Jan? I fixed and am 100 better off than if I’d have listened to him

@Soulstirring no he said you need to do a calculation and for most people fixing is wrong.

Sorry obviously didn’t read the thread. But his advice was waaay off for me. I fixed at 26p, by April it was 45p variable

Nobody has to discredit Boris, everything he says and everything he does, shows him for the incompetent immoral twit he is

But for those already stretched what does the scaremongering actually do?

Amen to this. People's political nous is incredibly limited, shall we say.

@restingbitchface30 you are optimistic in thinking it will only go up by £50. Based on current prices, my usage (fixed deal) at £150 a month if not fixed would be £230. In October it would be nearer £500. Just fixed with BG for £265 a month for 12 months and feeling grateful I got it.

Me too . I don’t see how we can find hundreds of extra pounds when we already economise so much . I have a lot of respect for Martin , he is genuinely trying to get this immoral bunch of MPs to actually act!

It’s not scaremongering. What warning people does is prepare them for what’s coming. It helps people make financial decisions now that might help them later. Cut back on spending now so they have a bit of a cushion later.

@dementedma @HinchcliffeandMurgatroyd his advice was for most people fixing is wrong.

And he was still wrong, because he seemed not to anticipate the likelihood of further rises (the rises he is now warning about).

What does Martin Lewis actually do now anyway?
Apart from tireless self promotion.
His brand is built around being the "good guy" " on the side of the people".
His concept is tired, he is so irrelevent and he is melting like a comfortable slug into his deep pile personal wealth of £123 million pounds.
I take everything he says with a large pinch of salt.
Salt isn't good for slugs I have heard.

he doesnt say anything that people with some common sense dont already know...i fixed energy at low price for 2 years....he does like a drama....but if it helps some people then why not !

Scaremongering, scaremongering!
Project fear, project fear!
Cost of living crisis? What cost of living crisis?
Climate change? What climate change?

Obviously, many people believe Martin Lewis should go live in a cave and completely ignore the cost of living crisis and it would simply go away.

He gives quite large amounts of his fortune away @speakout, as well as saving lots of people a lot of money.

I believe he is absolutely right. Anyone who predicts something bad happening always gets accused of "scaremongering" (anyone remember early covid? Climate change?) People prefer to stick their heads in the sand and hope for the best (and then complain and try to find someone to blame when the bad thing happens)

To be fair I remember him saying early in the year he'd advise that based on info at the time you should probably only be looking at fixes no more than over xx% of the SVT at the time - but if Russia were to invade Ukraine then prices would likely go a lot higher than that.

At that point most people thought Putin was all talk. But unfortunately for everyone, that wasn't the case.

Burying your head in the sand dosent help either

He's absolutely correct. It's going to be hell for people on low incomes from October. There's going to be civil unrest - that's why Patel has given Special Police stun guns - when people get hungry they get desperate. I hope all you middle class peeps who are criticising Martin are safely locked up. I'm telling you there is a nightmare brewing.