Martin Lewis reveals ‘rule of thumb’ to slash household bills by £500 – ‘anybody & everybody NEEDS to know’

MARTIN Lewis has revealed a "rule of thumb" which will slash household bills by £500 - saying "anybody and everybody needs to know it".

The Money Saving Expert said there are three ways you can save money on your water bill.

People in England and Wales will be shocked to learn that their water bill is based on their house price all the way back in 1990.

If you have a big house but don't use much water, it may be better to get a meter.

Speaking on his ITV show tonight, Lewis said: "I have a rule of thumb on this. Do you have more or the same number of people than bedrooms?"

If the answer is "no", you should consider getting a water meter to cut down your bill.

Money Saving Expert superfan Debbie lives in a three-bed home with her husband David - and has saved £478 in six months by getting a meter.

Debbie said: "I'm going to let anybody and everybody know - I'm going to knock on some doors."

Martin said you can also use the to check how much a meter could save you.

If a meter doesn't work out for you, some firms will let you switch back within two years - but check to make sure.

Sometimes you will be told that fitting a water meter is not practical for your property.

Should this happen, ask for an "assessed charge" revealing what your bill would be if one had been fitted.

If the assessed charge is lower than your current bill, switch over to it - and if it isn't, then don't.

On tonight's show, Lewis also told everyone with a phone contract "you're being ripped off" - and revealed his 3-step method to bring your bill down to £3.50.