With the cost-of-living crisis looming in April, money-saving expert Martin Lewis has shared some tips to help people worry about how they’ll pay their crippling bills next month
Money-saving expert Martin Lewis has shared three tips people can use to save on their energy bills before costs skyrocket in a few weeks.
Speaking on TikTok, Martin explained why hundreds of pounds are being added to bills as the price cap is set to increase from £1,277 to £1,971.
As millions worry about what’s to come as the cost-of-living crisis looms, the expert has broken down his tips into prepaid users, direct debit users and how residents can claim a £150 tax refund.
Martin said: “Ofgem has confirmed that you will get the tariff on the day you charge, not when you use energy.
“That means if you max out your charge in March before the rate goes up, that’s exactly what you’ll get, even if you then use that energy in April.”
“You draw a line and tell the energy company that all that energy I used should be at the cheap rate.”
And he added the council tax reference: “Anyone who is in council tax bands A to D will get a £150 rebate to help with energy bills.
“Now for the program, we’re told that as long as you pay council tax by direct debit, you’ll get the money automatically deposited into your bank account.”
He urged people to set up a direct debit with their community as soon as possible to avoid disappointment.
April is set to be the cruellest month for tens of millions of Britons as they face the biggest cost of living crisis in decades.
energy bills, train fares, government insurance, Council tax and inflation are all surging during income tax thresholds and Childcare allowances are frozen and Free Covid tests are cancelled.
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Salaries for Teachers and NHS workers, benefits and pensions will all rise less than inflation, leaving you with less disposable income. and those who pay student loans are hit with a “silent” surge.
From April, a £12bn increase in Social Security will also hit working people as the Treasury seeks to clear Covid-19 arrears NHS and start funding social welfare.
This means workers, employers and the self-employed will all have to pay 1.25p more in pounds for Social Security from April 2022 – from 12% to 13.25%.
An employee on £20,000 a year pays an additional £89 in tax. Someone with £50,000 pays £464 more.
From October, prices are expected to rise even further.
https://www.mirror.co.uk/news/uk-news/martin-lewis-shares-3-energy-26401136 Martin Lewis shares 3 energy bill tips to help Brits cope with skyrocketing costs