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

I suppose there are lots of variables. My gas and electric is £400 a month, I live in a 4 bed house, my husband is disabled so we have electric gadets to help him eg. electric bed to help him get in and out of bed and to get into comfortable (well more comfortable) positions and the same with a chair, also lots of hot baths as they help with pain. I also have a teenage GC living with me so lots of hot showers, lots of washing. DH, GC and I have computers on alot, phone chargers etc. DH also needs the house to be warm as otherwise it makes the pain worse and his breathing isn't good so we have airconditioning units on for months in the summer.

I wish we could get it lower.

I listened to Martin Lewis and put money into the Icelandic bank... money subsequently reimbursed by the UK taxpayer🙄

I also distinctly remember "No British bank will ever go bust... impossible... not in a million years..." Not his exact words but you get the drift. Did some serious backtracking after Northern Rock bit the dust.

My energy bill is already nearly €600 a month!!! It’s mental and not sustainable at all.

As I understood it he was advising about when it would be good to fix, so if you were on a cheap deal earlier in the year (as I was) then going into a new fix might have been cheaper when it gets to October but I'd have been paying the extra from April till October so you had to work out what you'd over pay between April and October and what you'd underpay from October to April and see which one was the winner. I did do a new fix as I got a good deal from Octopus, just slightly over the cap but will be a big saving from October. I think it can be quite complicated to work it out.

I'm sure he's right. I can't think about it too much or I'd never sleep.
I was hoping to retire soon (73,fair enough) but there's no way I can afford it as only have a state pension and there's always financial drama from the family.
I have things to pay for like anyone else.
Of course we can all cut back,wear jumpers indoors. Why on earth should life be so dismal though?
I really feel for families with young kids and the old and the vulnerable.
Regardless of who they voted for,no one deserves this.

Did I get it wrong - every household will get £400 off their fuel bill in October/November and pensioners will still get £200 (as normal) cold weather payment in December. I have started paying more into my energy account which will put a little credit in place and should help (my fixed energy comes to an end in September). I feel certain things will settle down once our dependence on outside fuels lessens. I have started noticing fuel prices dropping (albeit slowly) so I feel sure things will improve. It is tough for everyone right now but doing as much as we can to shield ourselves has to be the way to go.

You’re correct.

The £400 energy rebate will be made from October 2022 and will be knocked off your energy bill. You do not have to apply for it. The rebate will be paid automatically. All households in the UK will see their energy bills discounted by £400 in October as part of a new cost of living measure announced by the government.

Really? You don’t think the cost of living crisis is anything to get upset about. He has been bang on the money with his predictions….if you find his advice unnecessary…then I guess don’t listen to him.

However….the tariffs rise again in October and again in February….

Hhhmmm….well if they voted for this…..then my sympathy is non existent.

@ancientgran contact your supplier, i read there's funds available to help families in need 🤞

He lost my respect when he started preaching that student loans weren't debt!

Well, you have to make repayments, you're charged high interest rates, so that sounds like a debt to me!

Saying it's not debt is only relevant for those who'll never earn enough to make regular repayments. Or to those who'll be exceedingly high earners who'll pay it off pretty quickly and thus not incur decades of added interest!

It's terrible advice for those likely to earn over the threshold for most of their working life, but not high enough to pay off the loans, so they'll be making minimum payments all their working lives and still not pay off the debt once interest has been added every year.

He's a prophet without a clue with a congregation of the brainless

Big fan of Martin Lewis. He’s passionate, knows what he’s talking about and cares about ordinary people. Unlike our present useless lineup of government gumps

Yes - he was very lucky that the UK Govt extended the FSCS to cover the losses.

They didn't have to but a lot of people would have lost their life savings otherwise by listening to him.

I've long been of the opinion that financial journalists like him should be regulated. His influence is such that people follow his "advice" but he suffers no consequences for his actions.

Sorry but his grammar irritates me. It’s “you,” not “u.”

If he wants to deliver an apocalyptic warning that carries gravitas he should at least be bothered to spell it out properly.

Just annoying on all levels.

I hadn’t looked at anything from him before but I agree

At least write properly

talk about missing the point

@MalbecandToast i will just cut down as best I can. I’m not too concerned. It certainly won’t be anywhere near £500!

What if your bills are about 80 pounds per month. Will people still get the allowance?

It is going to get worse. I really hope Sunak doesn’t get in. We are just paying so much for everything just so Sunak and his cronies can buy more businesses in Russia and America. Yes Martin Lewis has made money but he has earned it. Sunak is just stealing it from us.

How are the power companies even allowed to increase bills by this much?

Please stop flogging your multi-level marketing scam. Have you no shame or dignity?

Yes.