Here at the Money Hospital, we think Martin Lewis truly is the money saving expert!
Because of this, we try to refer a few patients to him from time to time as he often has brilliant new ways to save you lots of cash.
This month is no exception as he has produced some stonkingly good info, which we felt it was only right and good to share with you all!
Credit cards - did you know there are more credit cards in the UK than people?
At the end of 2006 there were 74.4m credit and charge cards in the UK compared with around 60 million people in the country!
So, despite not being our favourite thing, they are clearly still popular with many of us!
Martin Lewis has come up with a strategy the credit card industry hates, but its vital for you to read if you have any credit card debt!
The credit card world doesn't want you to know that you don't need new cards to cut your interest; new card applications are profitable - not just for lenders, but also internet price comparison services which earn fees when you get cards through them!
His strategy to help cut your costs by up to 70% without new cards is called 'the Credit Card Shuffle'.
He originally designed the "Credit Card Shuffle" so those rejected for new credit could still cut costs, by utilising hidden 'existing customer' deals. Yet as it can cut your interest charges by £100s each year and protects your credit score by minimising applications, everyone should do it!
It's a 4 step system that moves your debts between existing, (not new) borrowing to the most efficient place.
It takes planning, but can pay off massively (In recent TV money makeover Martin Lewis cut a heavily indebted man's interest from £2,700a year to £600 a year without new cards!)
So if you want to save some money on credit cards and are prepared to "do the shuffle" then take some time to read the Money Saving Expert guide here.
Make money with your credit card!Is Britain becoming credit comfy?