Why Martin Lewis is telling us to stock up on stamps before the new year

While we wouldn’t normally advocate stockpiling specific items after the infamous (global) lockdown-fuelled panic buying of loo roll and other household items earlier this year, which left shelves empty and vulnerable people without the items they needed, money saving expert Martin Lewis has given the go-ahead on stockpiling one specific item for a very good reason.

As the nation’s unofficial financial advisor, Martin Lewis is encouraging the public to stock up on stamps. Why? Simply put, they’re about to cost you quite a bit more.

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The cost of a first class stamp is rising by 9p from January 2021, from 76p to 85p, while second class stamps will see a smaller, but still significant, rise of 1p, from 65p to 66p.

‘Buy your stamps now. If they say first or second on them, they are worth that in perpetuity for 10-20 years. So buy all your stamps for next year’s Christmas cards NOW at the cheaper price and you can send them next year,’ said the financial journalist of the stamp price increase on ITV’s Money Show Live recently.

Martin Lewis
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It’s easy enough to get your stamps in ahead of the new year – just head to your local Post Office or you can even buy them online.

The Royal Mail has explained the motives for the stamp price increase, describing it as ‘necessary to help ensure the sustainability’ of the UK’s’ postal service, adding that 2020 had been a ‘challenging year’ for the business.

‘The reduction in letter volumes has had a significant impact on the finances of the universal service which lost £180m in the first half of the year,’ Royal Mail said in a statement.

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‘This demonstrates the need for change in the universal service. We are working tirelessly to deliver the most comprehensive service we can in difficult circumstances as the coronavirus pandemic continues to impact our operation.’

Meanwhile, don’t forget to save the stamps from the envelopes of any Christmas cards that come through your letterbox this year – many charities accept stamp donations as they can sell them on to collectors for a tidy sum.