Martin Lewis reveals the eight money resolutions you must follow to save a fortune in 2020

Do them now and the impact will last all year long. Best thing is to put aside a couple of hours to blitz through them all – it could save you thousands.

This year I resolve to…

1) Shop & save for next Christmas NOW

Pre-Christmas is the most expensive time to buy, January sales the cheapest, so if you can, buy now to save next Christmas. Plus put a twelfth of the cost aside each month, in a savings account and let them pay you interest (see point nine).

2) Check if I can slash £1,000s off the year’s mortgage repayments

Mortgage rates are near all-time lows. So everyone check right now if you’re on the best deal. Use www.mse.me/mortgagebestbuy or MoneyFacts.co.uk to find your cheapest rate. 

Then if it looks like you can save, use a mortgage broker who’ll be able to home in on which mortgage lenders are most likely to accept you.

READ MORE: Martin Lewis: Is it cheaper to switch heating on and off or have it on low all day?

4) Finally ditch my crap bank account and earn up to £175

If you didn’t switch in 2019 and don’t regularly sing your bank’s praises you’re missing out. As it’s the start of a brand new year, many banks have a new marketing budget, and they’re willing to pay you cold hard cash to get you to switch them.

Switch to www.hsbc.co.uk’s Advance account and you’ll get £175 cash bonus, or www.firstdirect.com is now giving a £100 bonus (up from £50), and many also get a zero percent £250 overdraft. With both accounts there are min pay-ins and criteria you need to meet so do your reading before applying. Plus you get access to a 2.75 percent regular saver.

5) Cut credit card interest by £100s or £1,000s this year

The easiest way to reduce credit card debt is by shifting debt to a zero percent balance transfer card – this is where you get a new card(s) that repays debts on existing cards for you, so you owe it instead, but at a far lower cost, for a small fee.Of course acceptance is the challenge for most.

That’s now easier to find out as many cards have eligibility checkers which give your chances pre-application. Or you can see most top cards together in one place via comparison tools, such as the one on my site at www.mse.me/balancetransfer.

8) Watch the Martin Lewis Money Show Mon, 8pm ITV

A free extra resolution for you, and a free plug for me – how’s that for win-win. My show’s back on air, every Monday until the end of Feb. I’ll be blasting through how to slash your bills – you can’t afford to miss it.

Martin Lewis is the Founder and Chair of MoneySavingExpert.com. To join the 13 million people who get his free Money Tips weekly email, go to www.moneysavingexpert.com/latesttip

source: express.co.uk