Financial expert Martin Lewis highlights significant childcare benefits that many parents may be missing out on, along with valuable money-saving tips for the summer.
Financial Guru Martin Lewis Issues Key Warnings on Childcare Funding and Cost-Saving Strategies
Renowned financial expert Martin Lewis has issued crucial advice to parents on potentially overlooked childcare benefits and key money-saving opportunities this summer.
In his latest podcast episode, Martin Lewis highlighted that nearly 800,000 parents may be missing out on substantial childcare support, potentially amounting to thousands of pounds. This revelation comes as he implored listeners to explore available government assistance for childcare expenses, emphasizing that these benefits could make a significant difference to family finances.
Mr Lewis, a regular face on ITV and the voice behind the BBC Sounds podcast, issued an alert via Twitter, now rebranded X, describing the information as “important for anyone paying for childcare.” The episode addresses various financial dilemmas, including whether to save money or overpay a mortgage, the potential impact of savings on credit scores, and the intricacies of child benefits.
In the podcast synopsis available on Apple, Lewis sheds light on the childcare help nearly a million parents are missing out on, whether for seasonal or year-round childcare needs. Additionally, the episode features segments on frequently asked questions, including energy savings, mortgage considerations, and the two-child benefit cap.
One engaged listener reached out to Lewis on social media, querying about the best ISA account for a maturing child trust fund, underscoring the practical, real-world financial advice his platform provides.
Free Cereal Offer at Morrisons
In a separate initiative aimed at alleviating some of the financial strain on families, Lewis has shared details of a collaboration between Kellogg’s and UK supermarket chain Morrisons. As detailed in his Money Saving Expert newsletter, customers can receive free cereal for their children at Morrisons cafés throughout the summer holidays.
From Monday, July 29, to Sunday, August 25, Morrisons is offering a complimentary bowl of Kellogg’s cereal each day, available at all 398 of its cafés. No minimum spend is required, and the offer is accessible by simply requesting a “Kellogg’s breakfast” at the till. Choices include Cornflakes, Rice Krispies, or Coco Pops, with both dairy and non-dairy milk options. Additionally, a piece of fruit—apple, banana, pear, or orange—can be claimed with the cereal.
This initiative, backed by research from Kellogg’s, responds to findings that nearly half of parents are concerned about the cost of feeding their children during the summer holidays. By providing a nutritious breakfast option, the scheme aims to support families while school breakfast clubs are not in session.
Travel Currency Tips
Further financial guidance from Lewis focuses on cost-effective strategies for obtaining travel money. According to research from The Guardian, banks are typically among the most expensive venues for currency exchange. Holidaymakers are advised to avoid airport exchange desks unless absolutely necessary, as walk-up exchange rates there are notoriously poor.
Utilising the Travel Money Max website, founded by Lewis, the best deals for £500 of Turkish lira were found with The Currency Club, followed closely by Waitrose, John Lewis, and Thomas Exchange UK. Money Saving Expert notes the importance of double-checking provider prices online before purchasing currency and recommends pre-ordering cash for airport pick-up to secure better rates.
Martin Lewis continues to be a valuable source of financial advice for many, addressing everyday financial challenges and offering practical solutions. Whether through maximizing available benefits, securing money-saving deals, or providing timely travel tips, his insights aim to help individuals and families manage their finances more effectively.