Money Saving Expert Martin Lewis warns people with direct debits could be wasting hundreds of pounds every month.
Appearing on ITVs daytime favourite This Morning, Mr Lewis claims a simple direct debit audit could save bank account holders money and the trick can be done from your own home.
One lucky customer used his hack and received a £600 refund.
He revealed: “I was delighted last week when after this slot Eamon mentioned he’d saved doing my Direct Debit audit, that I’d talked about on my show. So why not try it?
“If you bank online simply go to the direct debits and standing orders page and check for things you no longer use or need.
“It can range from waste like a gym membership that you never go to (check you’re out of contract), to absurd, the cameraman on my show found he was paying council tax for an old property he’d since sold – wasting thousands.”
The user Lego4gary said: “Regularly reviewing your direct debits is a good idea.
“I did this fairly recently and found out that somehow I was still paying home insurance on a house I didn’t live in anymore!
“Cancelled this and got over £600 back as a refund.”
He also appeared on This Morning yesterday to talk about how you can make money from your living room, reported Birmingham Live.
The financial expert, currently with his own show on ITV on Monday nights, had a very handy tip for us all.
He says, through doing a “personal stock take”, you can shift unwanted items and make money, on sites such as eBay.
“Finally, now’s the perfect time to do an annual personal stock clearance, and make some extra cash for 2018,” he advised.
“Walk around the house and examine everything; from books, CDs, DVDs, old mobile phones and clothes.
“If you’ve not used it since last January, consider flogging it.”
He used the example of one woman, Zoe, who said: “I’ve made £200-£300 selling on Facebook, it works well – no fees, no trips to the post office.”
Martin continued: “Have a look on eBay to see if any of your bits are suitable for sale.
“There are also lots of recycling sites that will pay you for old mobiles and gadgets.
