MARTIN Lewis has issued an urgent travel warning ahead of price hikes and customers must take action now.
It comes as rail fares will rise by 5.9% as of Sunday March 5.
Martin Lewis said people must act now if they want to save moneyITV
The rise will affect season tickets on most commuter journeys, some off-peak return tickets on long distance journeys, and flexible tickets for travel around major cities.
But MoneySavingExpert.com (MSE) founder Martin Lewis has shared a couple of tricks for people to beat the hike.
Firstly, if you can, book anything you’ve got planned today ahead of the hike tomorrow.
You’ll pay the current rates instead of the higher prices, even if the dates you’re travelling on are after March 5.
While the saving may not be amazing, it’s definitely worth getting ahead of the game to save a bit of cash.
You can usually book up to 12 weeks in advance.
On top of that, Martin also suggested people renew their season tickets before tomorrow.
Martin said: “When we checked, most rail companies let you buy season tickets between two weeks to a month before they’re due to start at the current price, depending on the type of season ticket.
“For example, TransPennine Express and GWR let you buy an annual season ticket two weeks in advance of its start date, while Southern and Southeastern allow you to buy up to a month in advance.”
However, this is only worth doing if you’re season ticket is due to run out soon, otherwise you’ll be paying for two tickets but only using one.
So make sure you tally up the costs and how much you could save before buying anything new.
You can work out the
Of course, you’ll only be able to save on journeys you’re taking within the next 12 weeks, as you can’t book tickets later than that.
After that, you’ll have to pay the raised price, but it’s definitely worth doing to save a bit of cash while you can.
Anything you buy from tomorrow will cost you more
Rail fares usually rise each year and the government has stepped in to cap them amid soaring inflation.
Inflation is a measure of how much prices are rising compared to last year across thousands of items and services.
Inflation in July this year was 12.3%, so this rise is far lower than it would have been without the cap.
But the increase means people still face a huge hike in costs and it’s a steeper rise than before.
Rail fares last went up in March this year by 3.8% – the biggest jump in nearly a decade.
The annual cost of a weekly commute from Oxford to London is £5,756 using a season ticket
That will rise to £6,096 from March next year – £339 more.
A season ticket from Tunbridge Wells to London will rise by more than £309 to £5,557.
Fares usually rise each year in January but were delayed to March because of Covid and have now been pushed back again.
Fares will officially rise on March 5, 2023 with a freeze on current rates from January and February.
Train companies can set the prices of other tickets that are unregulated fares.
At the time the government said the rise is necessary to support investment and the financial stability of the railway.
How to save money on your train ticket
Here are some top tips to help you save cash on rail fares.
Split tickets
If you’re taking a lengthy train journey then you could save hundreds of pounds by splitting your tickets.
You won’t need to change trains and National Rail lets you split your ticket as long as the train calls at the station you buy the tickets for.
One site that works this out for you is Splitticketing.co.uk.
Buy a season ticket
Regular travellers should be able to save by purchasing either a seven day, monthly or annual season ticket, which will allow them to make the journey an unlimited number of times as long as it’s valid.
If you’re making the same journey on three or more days a week, then a seven-day season ticket is likely to save you money, compared to buying a new one every day.
You can check to see if a season ticket will save you money on your trip with National Rail’s season ticket calculator.
Book at least 12 weeks in advance
Network Rail releases its timetable 12 weeks in advance, so ticket firms usually make their fares available at this time.
Just like plane tickets, the earlier you book the lower the price you’ll pay for your seat.
You can sign up to the Trainline’s ticket alert service and it will tell you when cheap advance tickets go on sale for a particular journey.
Also, the National Rail’s future travel chart shows the furthest advance date that you can buy tickets.
Save money with a Railcard
If you’re a regular traveller then a railcard should shave a third off the price of your ticket.
Just make sure you’ll make more in savings over a year than the price of the Railcard.
See Railcard.co.uk for more information.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected]