Martin Lewis has issued advice to households to stock up on one specific item to save money. The money expert spoke out after the latest price increase to stamps. He told his followers that it is a good idea to stock up each year before price rises in April, as stamps can usually still be used long after the increase.
Stamp Price Increases
From 7 April, the cost of a first-class stamp rose from £1.70 to £1.80, marking the eighth price increase since 2020. Second-class stamps went up to 91p. Martin noted that a first-class stamp cost just 60p in 2012, and that anyone who had followed his bulk-buy recommendation consistently over the years would have saved a significant amount.
He said earlier this month: "For years, every time stamps go up in price I've suggested people stock up and bulk-buy in advance, as provided the stamp doesn't have a price on it and instead just says the postage class, it's still valid after the rise. This has been an effective tactic. So you may as well stock up now if you're going to need stamps."
How to Save on Stamps
Stamps marked "1st" or "2nd" rather than a specific price never expire. If they are bought before a rise, they remain valid for every letter you send afterwards at no extra cost. This allows people to save by stocking up when costs are lower.
Matt Marshall, spokesperson for Quote My Wall, said: "Everyone knows stamps have gone up a lot but I don't think people realise quite how much. When you actually sit down and do the maths, the price of a first-class stamp has gone up more than the stock market since 2020 — which is a pretty mad thing to say about a stamp. If it carries on at this rate you're looking at nearly £7 to post a letter by 2035. That is a lot of money for something most people think of as a small everyday expense."
This advice comes as households face rising costs across various sectors. By following Martin Lewis's tactic, individuals can make considerable savings over time, protecting themselves from future price increases.
