All hail the Money Saving Expert
Martin Lewis has explained the simple way Brits can bag themselves a handy £175.
With Christmas a mere 96 days away (at the time of writing) the money saving expert has started dishing out some early tips on how people can save money ahead of what is for many the most expensive time of year.
And there can’t be many simpler ways than this to land £175 in your bank account, although it will require you having a bit of money to start off with.
In his weekly newsletter, Lewis explained that if you open a seven percent linked saver account with First Direct, they’ll drop £175 in it for you.
To get the money, you’ll need to deposit £1,000 into the account within three months of opening it, but you’ll be able to withdraw it straight away.
The offer only applies to new customers to First Direct.
Using the Current Account Switch Service (CASS), you’ll be able to switch accounts in seven working days, and you can expect to see the £175 in your account within 28 days of switching, according to Lewis.
In fact, Lewis rates the First Direct account as one of his top recommendations and one of the best offers if you’re after free cash for switching.
Lewis offered some general advice as well for anyone a bit concerned by the impact Christmas will have on their bank account.
He recommends starting to budget now so that you can work out how much you afford to spend on festivities.
Lewis said this was a better method than starting out with a list of things you want to do and buy.
By budgeting now, you’ll be able to work out what you can and can’t afford early on, and you can then make decisions based on this, which will help avoid going into “a dangerous mindset that may lead to debt or disappointment.”
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