Martin Lewis: money saving expert urges people to spend less to avoid getting into debt this Christmas

Martin Lewis continues his fight to save people money with the cost of living crisis this Christmas

Martin Lewis has advised the public not to get into debt while making lavish purchases ahead of the festive season.

The finance guru, 50, from Manchester, was joined by Angelica Bell, 46, from London, for ITV’s The Martin Lewis Money Show Live Christmas Special on Tuesday night.

The show, which was aired live from London Battersea and Blackpool, aimed to show the public how they can save money and get the best deals on Black Friday (25 November). Over 3.5 million people tuned in to watch, according to a post on Martin Lewis’s Twitter account.

The financial guru opened the show by singing his rendition of ‘Be Our Guest’ from Disney’s Beauty and the Beast in full costume and fake mustache, before sharing his money-saving tips for Christmas and Black Friday.

Martin explained how to earn £200 by switching bank accounts, children’s savings, shopping consumer rights, and the Christmas forecast - which is where journalists predict when shops online and in-store will begin their sales.

Audience members in both London and Blackpool were able to ask Martin money questions live on air.

Maria from Blackpool asked: “Where do I draw the line on Christmas spending because I want to avoid getting into debt over the Christmas period”.

With the cost of living crisis, Martin explained that we all need to “think about spending less”.

The savings expert even questioned whether or not we should be buying presents this Christmas and said that we should focus on spending more time with family and friends.

“Christmas is one day, do not ruin your lives for Christmas,” he added.

Martin’s famous forecaster board revealed when the best days to shop are, including Black Friday, Cyber Monday, pre-Christmas, Boxing day, and January sales. Also on the board were the words need it, afford it, and cheaper elsewhere.

These words are in relation to the three questions the expert tells you to ask yourself when shopping:

  • Do I need it? 
  • Can I afford it? 
  • Can I get it cheaper elsewhere?
Martin Lewis said people can save £100 a year by adjusting their boiler thermostat to 60 degrees.

Marks & Spencer, John Lewis, Amazon, ASOS, and Boots were just a few of the brands he spoke about on the show. A full breakdown of electrical price comparisons and when all the sales start is on The Money Saving Expert Website.

After the show, many fans flocked to Twitter to share their stories after taking advice from the show.

One wrote:  “went to Sainsbury’s this morning and bought the £10 bottle of Baileys . Thank you for the tip”.

Another penned: “wife and I both swapped our bank accounts now £375 up thanks”.