While the COP26 in Glasgow is in full swing, the Martin Lewis Money Show tonight was fittingly a “green” money-saving special.
From advice on how to save hundreds of pounds on your water bill to how to get paid to recycle it, the money-saving expert took viewers on a whistle-stop tour of all the ways you can save your wallet and your wallet at the same time Protect planets.
Here is the full list of Mr. Lewis’s tips.
1. Buy used clothing
Lauren, who was a member of Wallet Watchers this week and also starred on Mr. Lewis’ Extreme Savings series, explained how she made the decision to only buy second-hand clothing in 2016 – and never looked back.
The sustainable shopper estimates that she has saved “thousands” through second-hand purchases. It is not limited to charity stores, but stores in the trunk and flea market. These are often cheaper than thrift stores, which have benefited from the popularity of second hand clothing and have recently increased their prices.
She has found some “real bargains” in trunk sales that often cost no more than £ 1 or 2 per item.
She revealed that the trendy dress she wore on tonight’s show cost just 20p at a flea market – and similarly bought a £ 150 dress for just 20p from a charity warehouse sale.
2. Have a water meter installed
Mr Lewis referred to water meters as a “forgotten utility” that could potentially save people hundreds of pounds a year.
“The water bills are based on the taxable value of your home – the bigger it is, the more you pay – while the meters are based on how much you use,” said Lewis.
He explained that with fewer people, you’re using less water overall – which makes installing a water meter more attractive than relying on a water bill to explain empty spaces.
Water meters are free in England and Wales, and experts advised viewers to visit CCWATER.org.uk to see if a water meter could save you and, if so, how much.
3. Solar panels can be a good investment – but not for everyone
One viewer wrote to ask if they would be better off financially buying solar panels for cheaper electricity.
“Panel prices have been going down in the last decade or so, so for a three-kilowatt panel you would now pay about £ 5,000 – it was £ 6,000,” said Lewis.
But he went on to explain that solar panel users used to get the feed-in tariff, which meant they were paid for all the electricity they generated, even if they used it themselves. However, this duty has now been abolished, and instead there is a smart export guarantee. This means that you are only paid for what you do not use and feed back into the grid.
“That means you pay about a quarter of what you pay for energy consumption on average,” says Martin.
He went on. “The payback period for most people when buying solar panels is 15 to 30 years. The further south you are in the country, the better because you have more daylight. The more you are home in the day, the better because you are Use energy as it comes out – you don’t pay it back to go online. “
He also pointed out that you can’t bring solar panels with you when you move, so you need to consider staying in the same house for 15 years or more before investing. You also need a south-facing roof to generate enough energy in the first place.
He concluded that while solar panels are generally good, “not for everyone” and advised viewers to check energysavingtrust.org.uk and other websites for more information.
4. Make small changes to your living situation
The next part of the program included a series of simpler tips that you can implement every day and potentially save hundreds over the course of a year.
- Turn the thermostat down one degree. This could result in a 4% reduction in energy use and a reduction of £ 55 per year in typical usage.
- Reduce shower time by a minute. If the whole family does this, you can save about 2% on energy use and £ 30 a year.
- Recognize all the drafts and try to remove the ones you find. This could translate into an energy saving of 2% and a saving of £ 25 per year.
- Install custom thermostats on radiators so you only pay for the rooms you heat. You could save 6% on energy consumption and £ 75 a year.
- Buy LED light bulbs. These consume about half the energy that is used by spiral “energy savers”.
- Wash laundry less often. Mr Lewis recommends washing larger quantities and less often, especially if your machine is over 5 years old, as it will be less efficient.
- Only fill your kettle as high as you are preparing tea or coffee – this will save energy and water.
- Unplug your TV instead of leaving it on standby. The savings are only 80p a year, but it’s still good for the planet.
- Check if you are eligible for free attic and cavity wall insulation. Those receiving benefits may be eligible for free insulation up to £ 100.
5. Choose investments that are green and have good interest rates at the same time
Mr Lewis spoke about the government’s new NS&I bond, which will allow you to tie £ 100,000 to £ 100,000 for 3 years, with the money going to fund government-selected green projects. But he calls the interest rate – 0.65% per annum – “pants” and says this is not the best option for you when you are looking at interest rates.
He contrasts the bond with the top easy-access accounts – Cynergy at 0.66% and Marcus at 0.6% – and the top 3-year fixed savings account – JN Bank UK at 1.81% – which are far better for the interest is.
He also highlights the best green savings account – Ecology Building Society, which pays 0.8% and allows you to deposit up to £ 250 every month.
6. Get paid to recycle
Mr. Lewis urged viewers to “recycle for cash”. For example, instead of throwing your old cell phone away, you can try whipping it out on comparison sites like sellmymobile.com and Compareandrecycle.co.uk.
He also listed all the lesser-known ways to recycle old clothes and makeup and get money back in return.
For example, if you bring old textiles to H&M, you will receive a £ 5 voucher (provided you spend £ 25 or more).
In the meantime, Oxfam will give you a £ 5 M&S voucher on non-food items if you give them M&S branded clothing (assuming you spend £ 35).
Don’t throw away your Mac cosmetic cases either, as if you take six with you, you can get a free lipstick for £ 17.50.
It’s the same with Lush – you can get a £ 9 face mask for free when you return five empty black Lush pots for storage.
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He also reminded viewers to use reusable cups in coffee shops to get cash on your brew – the highest savings are 50p on Pret, Paul and Pure.
Other tips included downloading the Refill app to find places to refill your water bottle for free, and returning excess plastic bags for 10p each – if you shop online at Morrisons or Ocado, you get paid when you get theirs Return bags to the van driver.
What do you think of Martin Lewis’ tips? Let us know in the comments below.