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Wales Online
Wales Online
Business
Will Hayward

Martin Lewis reveals his one piece of money advice that applies to everyone

Money Saving Experts Martin Lewis has been in Cardiff today and, as always, he is trying to save people cash.

The consumer whizz was in the Welsh capital to talk about how people with severe disabilities can save money on council tax.

Speaking to WalesOnline, he also revealed what he considers the most important advice that applies to everyone, regardless of their financial circumstances.

Last week, Martin used his ITV show to issue his advice on how Brexit could hit our finances. Dealing with everything from house prices to passports and mortgages to currency, you can read that advice here .

So what is Martin Lewis' tip?

Martin, who is the founder of consumer advice group Money Saving Expert, suggests that everyone takes one day off work to sort out their finances.

He said: "I would suggest that people take one day a year off work where they sit down with their finances."

During this day they should ask themselves two questions about all expenditure:

  1. Can I do this cheaper?

  2. Should I be spending on this?

He adds that it is not about cutting corners or doing things to a lower standard.

He said: "Treat it as a day at work. So many people say to me that they haven't got time to sort the money but for many people, going through their finances could save over a grand in a day.  It is about doing it cheaper — not worse, cheaper."

There are some people who this advice does not apply to.

"If you earn over a grand a day then this wouldn't be for you," he added with a laugh.

"But after tax this is an annual salary of over £500,000 so it applies to most people."

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