Martin’s Money Mondays is a new Good Morning Britain segment created to help visitors who’re worried about the price of living crisis. It is helmed by Martin Lewis, a monetary professional who created the website Money Saving Expert to provide unfastened financial advice to struggling consumers.
He has a column in the Sunday Post and a syndicate column which seems in The Yorkshire Evening Post and Manchester Evening News among other papers. Martin become appointed as a CBE in 2022 for services to broadcasting and consumer rights.
What is Martin’s Money Mondays?
The new Good Morning Britain segment will focus on questions specially about the price of living crisis with owners and renters predicted to stand hovering strength payments over the following 12 months. Martin will take a seat down beside host Susanna Reid as he answers questions on excessive energy payments from concerned viewers.
Martin stated: “Sadly right now the best I can hope to offer many of those families is damage limitation, only the politicians have the power to provide actual solutions.”
What did Martin Lewis say on Martin’s Money Mondays today?
On the primary Martin’s Money segment which aired today (five September) Martin defined that due to the standing charge for gas and power, all families will pay for strength although they don’t use any.
He defined that for people with a gas and power meter paid by direct debit the status price price will be £273 a 12 months from October. From October, the daily standing price price for gas will upward thrust from 27.22p to 28.49p and for power from 45.34p to 46.36p.
The average family in Glasgow ought to spend almost £3,000 according to 12 months on their strength invoice when the new price cap comes into effect in October, analysis suggests. Martin stated that he campaigned to get rid of the standing charge but added, “as with all my other campaigns with Ofgem, it hasn’t happened.”
He defined that a few energy firms will permit clients to top up their charge meter earlier than the rate cap upward thrust, letting them pay in advance for strength in October on the lower rate. Martin defined that this could not work on a clever meter and most companies will permit a maximum top up of £250.
Martin additionally responded a query on whether or not clients on variable price lists must transfer to a extra costly constant-rate tariff to avoid even higher potential bills in the future. He defined that if the fixed tariff is no extra than double the current price at the variable tariff then it can store customers cash to transfer. However, he added that there may be no manner to know for certain how energy prices will change over the following 12 months.
When is Martin’s Money on TV?
Martin’s Money Mondays airs weekly in the course of Good Morning Britain on Monday mornings after 7am on ITV and the ITV Hub. Clips from the segment will also be shared at the Good Morning Britain YouTube channel shortly after it airs on TV.