The money-saving expert says people can save money by bulk-buying the item before it goes up in price
Martin Lewis has encouraged people to “stock up” on an everyday item immediately ahead of a price increase next month. The cost of a first class stamp will rise by 10p from £1.70 to £1.80 from April 7, whilst a second class stamp will go up by 4p from 87p to 91p.
However, if you frequently send letters, Martin Lewis has explained you can save money by purchasing stamps in bulk now – provided the stamp doesn’t display a price on it, reports the Mirror.
In an article published on MoneySavingExpert.com, Martin Lewis stated: “For years, every time stamps go up in price I’ve suggested people stock up and bulk-buy in advance, as provided the stamp doesn’t have a price on it and instead just says the postage class, it’s still valid after the rise.
“This has been an effective tactic, as a first-class letter stamp is now £1.70, soon rising to £1.80 – in 2012 it was just 60p. So you may as well stock up now if you’re going to need stamps.”
Royal Mail said the increases were attributed to the rising cost of delivery as letter volumes declined and the number of addresses grew. For money-saving tips, sign up to our Money newsletter here
Royal Mail managing director of letters, Richard Travers, said: “We always consider price changes very carefully, balancing affordability with the rising cost of delivering mail.
“On average, UK adults now spend just £6.50 each year on stamps and there are 70% fewer letters sent than 20 years ago,” he added. “In the meantime, the number of addresses we deliver to has increased by four million to 32 million addresses across the UK.”
Last year, Royal Mail received approval from Ofcom to cease delivering second class post on Saturdays. As part of the overhaul, Royal Mail will also only deliver second class post on alternate weekdays, rather than six days a week.
This is currently being trialled in approximately 35 delivery offices. Despite the diminished service, Royal Mail will still aim for second class letters to arrive within three working days.
Royal Mail was penalised £21 million last year after nearly a quarter of first-class post was delivered late.
Anne Pardoe, head of policy at Citizens Advice, commented: “More than half-a-decade has gone by since the company met its delivery targets and people still face a gamble, with many uncertain if their important documents or letters like medical appointments will arrive on time.
“Things only risk getting worse when cuts to delivery days and reduced performance targets come into full effect. Against this backdrop, Ofcom simply cannot wave through these increases any longer. Higher prices must come with higher standards – increases should be tied to Royal Mail’s performance on the doorstep.”
