Martin Lewis’s warning to couples as a divorcee reveals she has saved £19,000

MARTIN Lewis has shared a dire warning for couples who have joint finances.

The money-saving expert’s advice came after a divorcee revealed how she has saved £19,000 since her marriage ended.

And Martin warned those who choose to combine their finances with someone else should be careful to avoid “disasters”.

Angela, who was divorced 20 years ago, says she is in financial difficulties.

However, with the help of Martin’s tips and tricks, she revealed she had saved almost £20,000 over the years.

While responding to Angela’s story, Martin warned couples who share their finances against having a “dominant financial doer” controlling every financial aspect.

He explained that it could be a disaster if the person who handles only money matters steps over the line.

Martin wrote: ‘In relationships there is usually a ‘dominant financial doer’ who controls the finances.

“There’s nothing wrong with that, but if it crosses the line of ‘I’ll just do it all so they don’t have to worry,’ it can feel generous, but it can be disastrous.”

Angela said she was in dire financial straits when her husband left, but tips from Martin’s Money Saving Expert helped her get back on track.

The brave woman revealed she used the website to budget her money, pay off her mortgage and open savings accounts.

She used the Money Saving Expert mortgage site to pay off her mortgage, which helped her become debt-free faster than she thought.

Angela revealed that thanks to Martin’s tips, she was able to save a little on insurance and roadside assistance every year – and so far she has saved a total of £18,858.95.

“I could go on. My daughter now uses the budgeting and savings system herself, so she has skills she wouldn’t have had without MSE, and I feel financially secure,” Angela wrote on the website.

When he heard Angela’s story, Martin advised that both partners should know enough about finances and money-related matters to take over the other in times of need.

He said: ‘In a shared financial relationship, both partners need to know enough to be able to take over if necessary, especially if one of the three D’s strikes (death, divorce, dementia).

“Communication & a financial fact sheet are crucial.”

Martin’s advice comes after he warned married couples to check if they are owed £1,256 in cash.

The Money Saving Expert said you can claim back hundreds of pounds in tax, but you’ll need to act quickly to get the full amount back.

Last month, the money-saving expert shared a little-known tip for couples that could save them hundreds of pounds on breakdown insurance, even as premiums soared.

This neat trick allows you to effectively receive coverage “for free” as a perk with another service.

Writing on the Money saving expert website, Martin shared a large number of hacks with which partners can improve their personal finances.

One of these was a recommendation to look at package bank accounts.

He also issued an urgent warning to households who have just weeks left to claim up to £1,000 in free cash.

The consumer champion said people can claim back some tax exemptions for up to four tax years.

This includes the marriage tax credit, the PPI and the uniform tax credit.

But the current financial year ends on April 5, meaning you’ll need to claim your tax back on or before this date if you want to reclaim tax for the 2019/20 tax year.

He said: “With some tax breaks you can claim back four tax years before the current one.

“So that means when the new tax year starts on April 6, we’ll be saying goodbye to the 2019/20 tax year.”

It comes after Martin shared the next steps motorists should take in the mounting car finance scandal and warned against ‘fob-off’ tactics from companies.