Martin Lewis's top money-saving tips for families in 2022

If your family car insurance bill is up for renewal soon, Martin recommends you start comparing prices on insurance policies 20 to 26 days before it expires.

Why? You'll be seen as 'higher risk' if you leave it any longer, which could hike up the price.

To find the cheapest price, you can use websites like Compare The Market, Confused.com or MoneySupermarket.

If you're thinking of booking a family holiday this summer, Martin recommends using a comparison website like Kayak or Momondo to get the best price on flights.

Also, if you want to guarantee you sit with your family on your flight for FREE, check out Martin's Airline Seating Guide.

Normally, Martin Lewis would advise us to switch energy tariffs regularly, to find the best fix deals on the market.

Currently there are none to be found BUT the money saving expert has said that some, although not many, fixes are being offered to existing customers. If they're 18-20% above the price cap tariff then it could be worth locking them in, although you'll have to be ready to pounce as they're few and far between.

While a fix may not save you money, it'll offer some certainty for your bills over the next year.

More on this here.

Reward credit cards can be great for earning cash or points. However, it's vital to know what you're doing and research your card before picking one.

Money Saving Expert advises you follow these five 'need-to-knows' when using reward credit cards:

1. Use a direct debit to guarantee you repay in FULL every month

2. Use the reward card for all your normal spending and DON'T overspend

3. Check the 'real value' of the points and ensure the rewards are worth it for you

4. Sort out your debts BEFORE getting a rewards card

5. Never withdraw cash or borrow on the cards

See more details here.

Feeding a large family can certainly add up, but there are loads of simple tricks to save you cash.

Money Saving Expert recommends using an app called Olio to take advantage of retailers like Costa and Pret, who give away spare food so it isn't wasted.

You can even use the app to share store cupboard essentials with your neighbours.

When it comes to help with childcare costs, Martin urges us not to forget about older kids.

You can receive child tax credit until 31st August after your child's 16th birthday. If they're under 20, you're also eligible if they're in non-advanced approved education.

However, new applications are now closed (unless you're getting the severe disability premium) so you can only claim these if you're currently receiving tax credits.

For more information, click here.

Coronavirus means many of us have spent a LOT of time working from home over the past two years. However, it turns out there's a silver lining to this.

HMRC introduced a 'microservice' during the 2020 lockdown, meaning many of us qualified for a year of tax relief, even if we only had to work at home for one day.

This means many of us can now claim back TWO years' worth of tax relief for the 2021/22 tax year – here's how.

Although it's still possible to claim through the government website, in January 2022, 'unconfirmed reports' from the Telegraph suggested the Treasury could soon close the working-from-home tax rebate microsite, according to Martin Lewis. So it's worth making your claim ASAP!

Millions of people living with their spouses could be eligible to reclaim a LOT of money for their family in 2022.

Martin says if you're married or in a civil partnership, you might be able to claim Marriage Tax Allowance of up to £250 each year.

Since this dates back to 2017, couples who've never claimed it may be able to get £1,000 £1,220 in total. Ker-ching!

Bear in mind though the deadline to claim for the 2018/17 tax year is 5 April, so make sure you snap it up fast.

Find out if you're eligible here.

With kids to entertain, broadband can end up being a BIG expense for households, which is why Martin Lewis urges families to make sure they're on the best deal possible.

Money Saving Expert has a Broadband Unbundled tool to help you find the best tariff in your area but there are other ways to find yours, too, including Uswitch.

No one's really earning any money via savings accounts these days thanks to low interest rates BUT if you do have some money to put away, try opening a kids' bank account.

On This Morning, Martin advised a mum to put money into a children's regular savings account, as the interest rates on these were better than most adult ones.

For example, if you invest your cash into the Halifax or Barclays children’s regular saver accounts, you could be getting 3.5% interest.

He also recommended Darlington Building Society for those looking for a Junior ISA account.

Schemes like Klarna where you can buy now, pay later are not recommended by the financial expert.

Asked why he disliked them so much on This Morning he replied:

'What we're doing is we've got a payment system that encourages people to buy things that they can't afford, don't necessarily need and they're doing it through lending, through a loan-based system.

'Don't borrow unless you need to.

'Buy now, pay later is a form of borrowing, which is why it scares me.'

Martin also pointed out that these schemes are currently unregulated so if you encounter any problems, there's no ombudsman to go to.

Money Saving Expert recently reminded parents to check if they're eligible to receive tax-free childcare, as last year it was reported that more than a million families were missing out on the scheme.

The scheme is designed to help households with the cost of childcare, and working parents could save up to £2,000 per year under it.

Find out if you're eligible and how to apply here.