Martin Lewis says 'use them or lose them' as millions are wasting money

Money saving expert Martin Lewis has warned that millions of people are wasting money and urged people to 'act this week'. In the latest episode of the Martin Lewis podcast, the financial expert explained that people have until April 5 - the end of the tax year - to get this year's allowance into their cash Individual Savings Account .

"There's only a few weeks left to use your 2023/2024 cash ISA and lifetime ISA allowance. There are millions of people who are wasting money - hundreds or even thousands of pounds - by not using ISAs when they should."He added that there are also millions of people using ISAs at rates which are too low, when they shouldn't be using this type of accounts.

The interest in the cash ISA isn't taxed and doesn't count towards personal savings allowance, which was set up in 2016. Martin explained: "Once you put money in a cash ISA, as long as you don't withdraw it, it then stays tax free year after year.

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