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Is Martin Lewis OBE the only public figure who can be trusted?

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Getting financial and personal finance information always seem to be tainted with some bias but the only person who is always reliable and trustworthy is Martin Lewis - is there anywhere else you find… Read More
davewave Avatar
5m, 4w agoPosted 5 months, 4 weeks ago
Getting financial and personal finance information always seem to be tainted with some bias but the only person who is always reliable and trustworthy is Martin Lewis - is there anywhere else you find useful for Personal Finance and Other Finance info?
davewave Avatar
5m, 4w agoPosted 5 months, 4 weeks ago
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2 Likes #1
A spot of fishing today Dave?
1 Like #2
use common sense and read everything before you sign and if unsure ask someone to read it with you.
#3
splatsplatsplat
A spot of fishing today Dave?
tbf I was wondering when he would get an OBE and then reminded myself that he did already...there arent many people you can trust on personal finance. Not sure what fishing would have to do with Personal Finance?
2 Likes #4
Are you saying that people who work within the financial sector are usually untrustworthy and only out for themselves?
2 Likes #5
stuarthanley
Are you saying that people who work within the financial sector are usually untrustworthy and only out for themselves?
not really, more like any newspapers or media seem more slanted about personal finance, he is a rare exception.
2 Likes #6
davewave
stuarthanley
Are you saying that people who work within the financial sector are usually untrustworthy and only out for themselves?
not really, more like any newspapers or media seem more slanted about personal finance, he is a rare exception.
I do subscribe to moneysavingexpert and they do seem to be very reliable on their advice.
1 Like #7
davewave
stuarthanley
Are you saying that people who work within the financial sector are usually untrustworthy and only out for themselves?
not really, more like any newspapers or media seem more slanted about personal finance, he is a rare exception.


been thinking about it, no you can't trust anybody.
even age concern (or whatever their called now ) were on watchdog, I think.
everyone seems to have ulterior motives, I blame Thatcher and harry Enfield (loads a money) for all the greed.
7 Likes #8
I think that you are all overlooking the very fine advice provided by HUKD's own personal finance adviser, mutley1. Now there's a person that you could trust with your...
4 Likes #9
Martin Lewis is a (insert a expletive here). Crown Currency exchange is something he recommended then washed his hands off.
The other day he was on telly advising people not to switch to small energy firms, something he's advised people to do for a long time.
1 Like #10
RonChew
I think that you are all overlooking the very fine advice provided by HUKD's own personal finance adviser, mutley1. Now there's a person that you could trust with your...


I'd trust Mutley with my wallet. Alas, I couldn't trust his dog with my sarnie. :(
#11
I seem to remember the site put up a wheeze whereby you bet on the first goal scorer in football games on the betting exchanges. All risk free, so it said. Ended up being extremely risky and people 'doing' their kahounas.
#12
Dumbstruck
I seem to remember the site put up a wheeze whereby you bet on the first goal scorer in football games on the betting exchanges. All risk free, so it said. Ended up being extremely risky and people 'doing' their kahounas.

I remember him recommending people put all their money in Icelandic Banks X)
2 Likes #13
I dunno, I find MSE a bit spammy now compared to before he sold it off. There isn't really anything better, but I don't think it's as good as it was.
#14
MSE used to be a good platform, its advice to someone with no clue on finance made it a good place to send anyone fir the basics. Only wish I had thought of it :) however there are many instances where the advice wasn't the best getting a fixing fuel years ago caught many out as did those mentioned above. I think one of its biggest down falls though was its constant changing of format and the emergence of this site. Their forum are only a place to go now if you want something specific and you can see the few people in their forums is getting less and less each time I visit. Which to be fair is once in a while where it was like this one many many times a day.
#15
Martin Lewis saved me £200 last summer, when I changed my electricity provider.
#16
david_wavid
Martin Lewis saved me £200 last summer, when I changed my electricity provider.


was that on your gas as well wave dave?
1 Like #17
davewave
david_wavid
Martin Lewis saved me £200 last summer, when I changed my electricity provider.
was that on your gas as well wave dave?
Almost certain to be multi savings. :p
#18
david_wavid
Martin Lewis saved me £200 last summer, when I changed my electricity provider.

He didn't though really did he, moneysupermarket did and they took their cut as well. Reality is on utilities we have been told for years and years to change and there are still loads of people who are still with their supplier.
#19
Mark2111
RonChew
I think that you are all overlooking the very fine advice provided by HUKD's own personal finance adviser, mutley1. Now there's a person that you could trust with your...
I'd trust Mutley with my wallet. Alas, I couldn't trust his dog with my sarnie. :(
You beat me

(No not like that he beat me at posting the sarnie comment)
#20
In his TV show he two weeks ago he claimed Santander was paying 3% on its its 123 account when it had dropped to 1.5% a month before nor did he mention the monthly fee increase from £2 to £5.
Alway crosscheck.
#21
landros1
In his TV show he two weeks ago he claimed Santander was paying 3% on its its 123 account when it had dropped to 1.5% a month before nor did he mention the monthly fee increase from £2 to £5.
Alway crosscheck.
Where does the money come from to pay 123 accounts? I mean if you pay £1000 in bills to a company, how does Santander make money to pay you 3% and then 1.5%?
1 Like #22
splender
landros1
In his TV show he two weeks ago he claimed Santander was paying 3% on its its 123 account when it had dropped to 1.5% a month before nor did he mention the monthly fee increase from £2 to £5.
Alway crosscheck.
Where does the money come from to pay 123 accounts? I mean if you pay £1000 in bills to a company, how does Santander make money to pay you 3% and then 1.5%?
They get paid commission by the originator of the direct debit and are just sharing that payment with their customers. And they're lending the money you leave on current account with them to other customers at rates considerably in excess of 3%. Even the most credit-worthy would struggle to get a loan at less than 3% APR.
1 Like #23
YouDontWantToKnow
ha lol

The guy at the height of his fame made money out of convincing people to fix rates on gas & electric despite obvious signs of rates falling & also promoted false groupon deals when retailers were putting up prices after people bought vouchers.

And then threatened legal action against those who pointed it out.

pmsl
I'm sure that if he had hindsight he wouldn't have done those things. Oh for the gift of hindsight...
banned#24
RonChew
. Oh for the gift of hindsight...

Oh for the gift of the obvious
#25
YouDontWantToKnow
RonChew
. Oh for the gift of hindsight...
Oh for the gift of the obvious
But it's only obvious with hindsight. At the time, fixed rate gas and electricity bills would have seemed a good idea unless you had inside information that prices were going to drop.

I don't know which Groupon deals you're referring to but, again, unless you had inside information that retailers wouldn't honour them, they would have seemed like a good deal.

You're just trying to make yourself appear clever by using hindsight. If you could predict the future accurately, you wouldn't be spending your time on HUKD. ;)

Edited By: RonChew on Dec 01, 2016 23:44
#26
I am very trust worthy
#27
I dont trust him.
#28
Companies operate for profit. Martin Lewis does help you find those who are willing to provide the best price from those companies, if he didnt help the public find the best way to save money then competition would probably be lower and margins higher.
banned 1 Like #29
davewave
Companies operate for profit. Martin Lewis does help you find those who are willing to provide the best price from those companies, if he didnt help the public find the best way to save money then competition would probably be lower and margins higher.

Martin Lewis set up a site that relied on people posting deals. Then he worked out how to make money off the minions ideas.

After selling his stake for about £30 million he still progresses adverts for fuel, credit cards, mortgages & loans.

Nothing new. He has done it for years.
1 Like #30
RonChew
YouDontWantToKnow
RonChew
. Oh for the gift of hindsight...
Oh for the gift of the obvious
But it's only obvious with hindsight. At the time, fixed rate gas and electricity bills would have seemed a good idea unless you had inside information that prices were going to drop.

It wouldn't matter anyway, the wholesale cost of energy now accounts for less than half the bill... A market swing of £10/MWh will only add a 1p and prior to 2016 that was unheard of...
#31
splender
landros1
In his TV show he two weeks ago he claimed Santander was paying 3% on its its 123 account when it had dropped to 1.5% a month before nor did he mention the monthly fee increase from 2.38€ (£2) to 5.95€ (£5.).
Alway crosscheck.
Where does the money come from to pay 123 accounts? I mean if you pay 1,189.09€ (£1000) in bills to a company, how does Santander make money to pay you 3% and then 1.5%?

All I know is that in three months they halved what they pay me in interest and more than double the monthly fee from £2 to £5.
#32
Why doesnt he ever give credit to the MSE or HUKD community for teh vast majority of deals he promotes on GMB or This Morning?
#33
All I know is I would still trust him, he's saved me and others loads of dosh and I don't put him on a pedastle to say that he should know things that are unknown.
#34
landros1
splender
landros1
In his TV show he two weeks ago he claimed Santander was paying 3% on its its 123 account when it had dropped to 1.5% a month before nor did he mention the monthly fee increase from 2.38€ (£2) to 5.95€ (£5.).
Alway crosscheck.
Where does the money come from to pay 123 accounts? I mean if you pay 1,189.09€ (£1000) in bills to a company, how does Santander make money to pay you 3% and then 1.5%?
All I know is that in three months they halved what they pay me in interest and more than double the monthly fee from £2 to £5.
So, rather than moan about it, why don't you tell us where we can find a better deal?
#35
RonChew
landros1
splender
landros1
In his TV show he two weeks ago he claimed Santander was paying 3% on its its 123 account when it had dropped to 1.5% a month before nor did he mention the monthly fee increase from 2.38€ (2.38€ (£2)) to 5.95€ (5.95€ (£5.).).
Alway crosscheck.
Where does the money come from to pay 123 accounts? I mean if you pay 1,189.09€ (1,189.09€ (£1000)) in bills to a company, how does Santander make money to pay you 3% and then 1.5%?
All I know is that in three months they halved what they pay me in interest and more than double the monthly fee from 2.38€ (£2) to 5.95€ (£5.).
So, rather than moan about it, why don't you tell us where we can find a better deal?

I have looked but all the competition like TSB (was 5%) are dropping their rates early 17.
The government would rather us all spend all our money as it is "good for the economy".
1 Like #36
Moneysavingexpert has become progressively more unreliable since it was sold. They tend towards recommending services which make commission for their parent company. For energy they now only provide information on their "cheap energy club".
I don't trust them any more when they are recommending anything where there is commission involved. You're better off finding out what the comparison sites are and shopping around yourself.
#37
patrick_000
Moneysavingexpert has become progressively more unreliable since it was sold. They tend towards recommending services which make commission for their parent company. For energy they now only provide information on their "cheap energy club".
I don't trust them any more when they are recommending anything where there is commission involved. You're better off finding out what the comparison sites are and shopping around yourself.
what don't you trust, I am very interested?

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