Martin Lewis Money Show latest: Money expert issues Christmas debt warning

Rishi Sunak is ‘ready to make tough decisions’ for UK in economic plan

Martin Lewis has urged parents to avoid an expensive Christmas to avoid getting into debt.

“Christmas is a day. Don’t waste your lives for Christmas,” the money-saving expert told viewers of his new program. The Martin Lewis Money Show Live.

Earlier, Mr Lewis issued a stark Black Friday warning to shoppers preparing to pile their baskets with heavily discounted items in pre-Christmas sales.

“This is my Black Friday memo…” he wrote on Twitter, alongside an image of a post-it note emblazoned with the advice: “If you were to buy this anyway and “It’s half price, you’ve saved 50 per cent. If you weren’t planning on buying it, but do because it’s half price, you’ve wasted 100%.”

The annual consumer event is derived from the American post-Thanksgiving tradition. It often marks one of the busiest shopping days of the year and draws heavy criticism for encouraging overconsumption and its potential to inflict serious environmental damage.

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Martin Lewis issues Christmas debt warning to parents

Martin Lewis said parents should sacrifice an expensive Christmas to avoid going into debt.

“Christmas is a day. Don’t waste your lives for Christmas,” the money-saving expert told viewers of his new program. The Martin Lewis Money Show Live.

A woman in the audience told Mr Lewis she was worried about buying presents for her family as well as food, drink and the other trappings of a festive period during the cost of living crisis .

Liam JamesNovember 15, 2022 8:50 p.m.

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Junior ISAs are best for college savings, says Martin Lewis

Martin Lewis advises junior ISAs for parents trying to save money so their children can go to college.

He said junior ISAs allow up to £9,000 a year to be locked up until the 18th birthday of a child with a decent interest.

Liam JamesNovember 15, 2022 8:27 p.m.

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Martin Lewis: Do I have to spend the same for all the children at Christmas?

A viewer asked Martin Lewis if parents should always spend the same amount of money on children at Christmas (or other holidays).

The money-saving guru is conducting a Twitter poll on the matter.

Liam JamesNovember 15, 2022 8:23 p.m.

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“A perfect time to switch bank accounts,” says Martin Lewis

Martin Lewis said now is a great time to switch bank accounts as banks are offering deals.

An audience member said she felt treated badly by her bank.

Mr. Lewis said that was reason enough to leave.

Liam JamesNovember 15, 2022 8:10 p.m.

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Sean O’Grady: Why the triple pension lock seems safe with worried Tories

If a government operated solely on the basis of fiscal consolidation, there is no doubt that state pensioners would be forced to suffer a reduction in real terms in their income.writing Sean O’Grady.

Emily AtkinsonNovember 15, 2022 7:00 p.m.

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UK unemployment rises to 3.6% as recession looms

The UK unemployment rate rose to 3.6% in the three months to September, from 3.5% in the previous three months, the Office for National Statistics said.

Darren Morgan, director of economic and labor statistics at the Office for National Statistics (ONS), said half a million working days in August and September were lost due to strikes in addition to older people leaving the work market.

The Office for National Statistics has also released wage data showing that between July and September wages fell in real terms by 2.6% for total wages after adjusting for inflation, and by 2.7 % over the year for the normal salary.

Emily AtkinsonNovember 15, 2022 6:00 p.m.

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Council tax will rise in autumn statement, Jeremy Hunt tells MPs

Council tax will rise after this week’s crucial autumn statement, but the wealthy will feel the pain the most, Jeremy Hunt has suggested.

The Chancellor rejected a call from Labor to hold back the bills – as the Tories’ 2019 election manifesto promised – insisting some “very tough announcements” are inevitable on Thursday.

“We will ask everyone to contribute more – but we will ask those who have more to contribute even more. And that will be reflected in our council tax decisions,” Mr Hunt told MPs.

Our Deputy Political Editor Rob Merrick reports:

Emily AtkinsonNovember 15, 2022 5:00 p.m.

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Watch: Rishi Sunak is ‘ready to make tough decisions’ for UK in economic plan

Rishi Sunak is ‘ready to make tough decisions’ for UK in economic plan

Emily AtkinsonNovember 15, 2022 4:00 p.m.

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Sunak calls inflation “the enemy we have to face”

Rishi Sunak said inflation was “the enemy we have to face” when asked about new figures showing Britain’s unemployment rate was rising.

The prime minister said TVI in Bali, where he is attending the G20 summit: “I think what today’s figures show is that the enemy we have to face is inflation.

“That’s what makes people poorer, that’s what drives up the cost of living and everyone’s bills that they open up every week, every month.

“I want to make sure that we get inflation under control, bring it down, and that’s why the Chancellor’s statement is so important, because it will put our public finances on a sustainable path that will help us get inflation under control, it will help us limit the rise in mortgage rates.

“And that’s why we have to do what we’re going to do.”

The Prime Minister took pains to emphasize that inflation is a global challenge, saying: “That’s really the conversation we’re having here at the G20.”

Emily AtkinsonNovember 15, 2022 3:25 p.m.

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Four million children now live in households benefiting from universal credit

The number of children from low-income families receiving Universal Credit has risen to four million, according to analysis of new official data.

The rise comes as The Independents The Feed the Future campaign is calling on the government to help more children with free school meals including those on Universal Credit, who are currently exempt from the scheme.

Emily AtkinsonNovember 15, 2022 2:55 p.m.

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