STAMP IT OUT
Martin Lewis reveals trick that could save you more money every Christmas – but you need to be quick
Price rises are coming into effect across the board but Martin Lewis has a key tip to save
MARTIN Lewis has revealed a key trick that could save you more money each Christmas - but you've got to be quick.
The savings expert explained the nifty trick on his podcast and left listeners baffled.
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Royal Mail has confirmed it will rise for standard letters by 30p from £1.35 to £1.65 - the second hike in a year and a 22% increase.
First-class stamps for large letters will go up from £2.10 to £2.60 - a 24% rise.
But you can beat the hike somewhat by stocking up on stamps now so you don't need to buy new ones for a while, and just a head of the busiest posting time of the year at Christmas.
Martin Lewis said on the podcast: "A first class letter stamp is due to rise [in price] again by 30p to £1.65 on the 7 October.
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"So it's currently £1.35 at the start of the year it was £1.25. Second class are not going up.
"I recommend to anyone who's going to need stamps - if you haven't got them now, you should be stocking up."
One thankful listener wrote in and said: "Thanks for the heads up as someone who still sends 40 plus cards every Christmas."
But another listener said how she had old first class stamps without the modern barcode and attempted to hand them in - but couldn't.
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Martin Lewis responded saying that a swap can occur with old and new - saving collector's cash.
He said: "You can pick up or print out a swap form from the Royal Mail website" or can alternatively pick one up from the Post Office.
Royal Mail plans to cut 2nd-class deliveries to save £300m a year
"Then you can send in your stamps if it's under £200 it's the free post swap out but if the stamps are worth more than £200 send to the Royal Mail swap out."
You therefore just need to send off your old, unbarcoded stamps and they will send back the same stamps barcoded.
He also said it's worth noting that if you have old Christmas first class unbarcoded stamps - these can still be put to use.
It comes after Royal Mail announced it will increase the price of stamps again next month.
The delivery giant said the price of first-class stamps will increase by 30p to £1.65, the second rise in a year.
Royal Mail said the price increase will come into force on October 7.
First class stamp prices increased by 10p to £1.35 in April and by 10p to 85p for second class.
The company has confirmed that second class stamps will remain at 85p, as these are currently capped until 2029 in an effort to keep the sending of letters affordable.
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Royal Mail said it has tried to keep price increases as low as possible in the face of declining letter volumes, and inflationary pressures.
It also cited the costs associated with maintaining the so-called Universal Service Obligation (USO) under which deliveries have to be made six days a week.
How are postage prices decided?
ROYAL Mail typically increases the price of stamps annually and this year the price rose in April.
Normally, it gives customers advance warning of around a month before pushing up prices.
This year the hike was announced in March.
Royal Mail said it is hiking the price of postage due to the decline in the number of people sending letters.
It blamed rising inflation for the increase too.
It also cited the costs associated with maintaining the so-called Universal Service Obligation (USO) under which deliveries have to be made six days a week.
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