Martin Lewis has warned millions of people they may have to confront price hikes in just two weeks’ time in what could be shocking news for customers across the country. The Money Saving Expert has issued an update which is likely to impact customers who are with BT, Sky, O2 and Virgin Media. If Britons fail to take action now, they could face higher bills when April rolls around, something which could create a strain on their pockets.
While price hikes are likely to be resisted due to the ongoing impacts of the pandemic, they must be met by customers.
Yearly inflation kicks in every April and this is an issue Britons can either tackle head on or be passive about.
But for those who want to save money, taking action before the price surge will be especially key.
Martin touched further upon the issue in the latest instalment of his radio show on BBC Radio 5Live alongside Nihal Arthanayake.
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“However, millions who are on rolling deals can take advantage and save some money.”
Individuals who have received correspondence from their provider informing them of a price hike which is not contained in the small print of their contract can take action.
These individuals, Martin explained, have 30 days from receiving their letter or message to cancel their contract.
However, going to cancel a contract does not have to be the end of the road, and Martin instead explained how this, too, could be an opportunity to haggle.
Providers can often reward individuals who have been loyal to them, particularly if someone gets in touch with a company’s customer retentions team.
With these dedicated teams committed to helping customers stay with the provider, it is likely Britons will be able to negotiate, and could even score themselves a better deal.
Martin went on to provide his top tips to help those who are looking to haggle.
This could help them drastically slash their outgoings and provide help well into the next calendar year.
He added: “If you’re after a cheaper television deal, for example, consider what channels you could easily drop.
“Then, once you know what you want, enter your details into price comparison websites to get a benchmark of what is available elsewhere.
“When you’ve found a deal you can afford, call up your provider an explain that you’d like to stay, but have found a cheaper deal elsewhere.
“Explain you’re going to have to leave, and then hopefully they will give you a decent deal to stay.”
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