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

@willithappen - Thank you for the information, can you please elaborate on exactly what shall we consider for DD? What is the trap? My DD is due for a review next month. Your insight will help a lot.

Thank you very much.

While I certainly really feel for people who are certainly going to struggle horrendously, certainly in respect of heating their home/food/fuel, this is not a UK issue. It's happening world-wide.

In the meantime vacuous people are still flying overseas with their entourage to hold tacky hen/stag weekends etc etc etc.

A re-set of what is important, financially, could be a good idea for many.

Yes you are right it can be

I like the idea of more nutritious food for people who don’t always have it, by whatever means as it would impact health outcomes

I think stresses make healthier choices harder too

So I’m not disagreeing, I‘m not sure how it’d work with higher incomes as the food is there generally, but anyway will let others say more in what could work if they like

You should look at your bills and get your average usage for both gas and electric. You can then calculate this off the unit rates that they are quoting you (they need to give you unit rates, not just dd rates). You can also do it based off the 64% increase on the current variable. Once you have done this and have your average yearly cost you can then divide this by 12 and get a more accurate monthly dd for yourself.

Lots of companies are either serverely over estimating or severely under estimating dd's. This results either in lots of credit sitting with them (them getting interest off it) or people ending up in debt

Submitting meter reads in March threw loads into debt as they had been paying quoted direct debits and then being billed estimated costs

There's a fantastic group called Energy Support and Advice UK on Facebook and it's been a godsend for me!

I'm by no means an expert at all tho, you'll get lots of good help from people there

@MarshaBradyo - but is there enough genuinely nutritious food there generally, or is there a lot of “food” that does not actually provide basic nutrition?

I quite fancy him. 😳

He can unnecessarily warn me any time he likes.

I ignored his advice not to fix last October and and have a three year fix until October 2024. If I’d listened to him I’d be several thousand pounds worse off

It's not scaremongering just because YOU think YOU will be OK.

I don't think some people understand what scaremongering means.

This is going to happen. Ofgem have said this. Gas prices are high. The price cap is linked to the gas prices.

Yet people just say "Well, I didn't listen to Martin Lewis back then".

Mine fixed offer now is £900!

Government have banged on about nutrition and health for decades. You can lead a horse to water ..

As for the huge rise in energy costs and why the government is quiet. They're hoping we'll all cut back drastically thus reducing the winter power cuts we may face.

I completely agree but think this is the Tory/capitalist way which people just do not realise.

this is all part of the ‘small state’ ideology meaning those in greatest need who do not have the means to help themselves are impacted the most and in this scenario energy caps supported those who will now suffer.

The thing is, we now have such a polarised society that is quite clearly divided that no one (read those able to vote for the next Prime Minister) gives a shit about our old age, our children's future or so on - they just want lower tax and the good life which they can afford. why people aren’t rioting is beyond me

It's only going to get worse as we push for zero emissions target. "Green Utopia" . Only the wealthiest will drive and heat their homes.

I’m wondering about that. I’ve just ordered an EV which I need as I have a spinal condition. Motability didn’t have the one I wanted so I’m going to use my PIP to pay for a commercial lease. EXH is convinced that Motability customers will end up with subsidised car fuel/charging and that consequently I’ve been stupid. I thought he was in cloud cuckoo land but now I wonder whether disabled drivers might not end up needing the help to stay in work or access healthcare.

I mean, personally I’ll survive either way - just - but some people don’t have much leaway.

Me too. I'm glad I took the maximum fix when I decided to leave Bulb, which went bust soon after. Meanwhile, the belt tightening continues...

I fixed at this. Wish I had fixed for 2 years now but I had about 60 seconds to decide as they pulled the deal v quickly!

I’m glad our energy price is fixed until 2024. Got it before all the prices got silly. But I dread to think what the cost will be at that point when the duel fuel is up for renewal, the fact I’ve got that good deal is one of the few things keeping us afloat

Sunnak and his previous counterparts have had over 12 years to make the UK perfect. Well it would be if their stubborn dogma had any effectiveness at all. People must be stupid if they keep doing the same thing but expect a different result. The only achievement to date is we have more food banks than McDonald's, and the government didn't pay for them.

Different set of people. 20million might travel 40 million wont, 2.17 million people used food banks last year. On the other end of the money tree, more super yachts over 120' and up to 500' are being built than ever before. This is where our non taxed money is going that should be taxed and funneled into national programs and projects like housing and the NHS

What do you mean “this is where our non taxes money should be going?”

If people are defrauding HMRC by illegally avoiding their tax obligations then that is a crime and a separate issue. The problem in that respect is about inadequate tax fraud investigation, but not taxation levels set by gov policy

dontpay.uk

I personally sounded a similar warning about 6 months ago and wrote to my MP about it. It's the perfect storm, fuel prices up, food prices up, utility prices up, mortgage and rental prices up. Everyone will be affected, even the more affluent as they will see profits cut as people have reduced disposable incomes. We know that many working people are less than 3 paychecks from financial disaster, if u are not in this position you are fortunate. Martin Lewis just tells it like it is, and his MSE forum literally saved my life in 2013 when illness contributed to us being in deep debt.

Some of us have holidays deferred from last year

I really urge everyone to look at your unit rates. Seeing people saying their fixed amount is '£x' per month is stressful 🙈

That is NOT your monthly amount. Depending on unit rates and standing charges that's what your monthly amount is 😭 lots will get stinged by this if their 'quoted dd' doesn't cover their costs of ACTUAL usage.