8pm. ITV. Martin Lewis .... and economists + finance fixing of hapless souls

yelf

Martin - any public showing you have should come with a disclaimer that you have a very very narrow knowledge, and are not qualified in any way. To talk to someone with £150,000 in the bank and say the only 2 options they have is an easy access account or a fixed term deposit is ludicrous! For someone who is using their capital as the interest rates are so low, a low risk unit linke dinvestment for £100,000 is clearly good advice: you can get over 8% yields at present.

Bad advice left right and centre. The summary "You could fix, but my lose" x3 is laughable.

1984ReturnsForReal_2

From memory we started going stronger on capping from about Feb/March 2008. Then it was accentuated in July just before the BG price rise, then my line was that there were three cheap caps left (prices at a slight premium to the pre price rise amounts). The last of these closed the end of the week of the British Gas price rise.

After that there was we moved to a don't switch stance. If you want confirmation on this, why not have a read of this from someone else trying to slag off this site - here Im being criticised because I had STOPPED telling people to cap...

I dont actually think anyone on here or in fact anything I have read on this entire site is slagging either you or the site off.

I distinctly remember a call to cap at the peak & I distinctly remember the media carrying this message on further past the latest rises.

Also it is of my opinion that this call for capping has been latched onto by the energy suppliers as a justifiable reason to inflate prices.

So in turn I would say that instead of calling for capping you perhaps it would have been better calling for a drop in prices after the winter of 2007-2008 & you should be continuing to do so for the near future.

Capping is not an insurance to protect "us" against future price rises. It is a business tool used to extort as much money out of the population as possible. In fact capping encourages suppliers to continually increase charges. It is born out out the dodgy bank decades as a cash cow. Nothing more, nothing less.

& by the way I quite like you on TV but the Tonights producer/director(s) is sh1te.

sporedude

How do you know its the ITV Producer thats sh*te

1984ReturnsForReal_2

sporedude wrote: »

How do you know its the ITV Producer thats sh*te

Because I have been watching it since the start with Sir Trevor!!

poet123

To be fair, those people figured in the programme are clearly naive consumers on so many levels. It is not a prog aimed at those who inhabit sites such as this or those with any/much financial nouse. So, from that perspective it probably did the job, from our perspective it seemed simplistic and basic. It is an example of not being able to please everybody exspecially in a finite amount of air time.

Poor Martin, he is trying to preach to the unconverted and the converted are saying he isn't doing enough for them. If you have any financial nouse, use it, the information is out there.

1984ReturnsForReal_2

poet123 wrote: »

Poor Martin, he is trying to preach to the unconverted and the converted are saying he isn't doing enough for them. If you have any financial nouse, use it, the information is out there.

Fair shout.

bigheadxx

There may come a time when this advice also comes in for criticism:
Far too many have a concrete savings mindset that shouts "don’t spend your capital!" Yet in a deflationary environment that’s too rigid; anyone living off savings interest, would face huge cuts in their income, and not spending capital would actually be penalising yourself.

Personal rates of inflation do vary, yet if you’re experiencing deflation, and need to spend from your savings pot, you can do so without hurting your savings pile. Take the capital out at the rate of deflation, and you’re not losing anything as your purchasing power is retained.
http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

In a few years time we may well experience very high inflation that is not accompanied by higher interest rates. Therefore anybody who has spent part of their capital to maintain their income will be starting from a lower base when inflation kicks in. Spending even more capital in this situation to maintain the income/spending level you are accustomed to would leave you even worse off.

Treadmill

I remember Martin advising people to get unsecured loans so that they could get, fixes which at the time where about 5-6%, to avoid going onto the banks SVR if their LTV was high, I wonder how many thousands thats cost people ?

Also pumping Iceland as a good place to save money right up to the 11th hour.

On the plus side though, 2 for 1 at Pizza hut and heads up on cheap flights is pretty cool

rachiee

Well i found it intresting and always do. Always turn of the hoover on a morning to listen to his tips