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National
Katie Dickinson

Going on holiday? Money saving expert Martin Lewis on if you should buy currency before the election

Just one day left before voters go to the polls, but should holidaymakers be thinking about buying currency beforehand?

Now MoneySavingExpert .com founder Martin Lewis has offered his advice on whether to stock up on Euros before the results are announced.

The financial guru said: "Currently £1 buys €1.18. Being straight, it's because the markets seem to have factored in a Tory majority, and all that implies, including a likely Brexit deal.

"While the markets are - rightly or wrongly - generally anti-Brexit, I suspect this result is seen as a soft positive, as it'd end some uncertainty (which they don't like) and reduce the short-term chance of a no deal (which they also don't like).

"If they're wrong, and uncertainty increases, the pound will likely (no promises) fall.

"Either way, those travelling soon and worried about fluctuations (who don't have a crystal ball), may want to buy soon-needed currency now, or hedge your bets and buy half now and half when you travel."

Martin said the decision on who to vote for will be "the biggest consumer decision most will make this year".

He added: "Who governs impacts the money in your and everyone else's pockets - never mind the fact it can change the whole flavour of our society. Unless you're a party loyalist, the decision isn't easy - you need to factor in Brexit, your local candidates, party policies and their leaders. This time the choice is more stark than I can remember - with huge waters between the parties."

Martin's advice is to

  1. Find out which parties' policies match your views using tools like Who should you vote for? or Vote for Policies
  2. Check up on your local candidates
  3. The MSE Leaders' Debate 2019 - find out what they promise to do (or not do) on housing, income, mortgage prisoners, money & mental health, rail fares, social care and more. 
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