Martin Lewis was alarmed as he issued a warning to people using credit cards.
The Money Saving Expert was interviewed by Susanna Reid and Ed Balls on Good Morning Britain. The finance guru provided an insight into what viewers can expect from tomorrow's edition of Money Show Live.
The consumer champion will tackle the subject of debt after worrying figures revealed the UK has the highest levels of credit card debt and increased borrowing than at any time since 2004. Martin was alarmed people are using credit cards to pay for increased bills as a result of the cost of living crisis.
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He said: "It really concerns me that people are borrowing willy nilly to fill the gaps but that's what they're doing. If you are using your credit card because of the cost of living, the question you have to ask yourself is what's going to change? That means I'm going to be able to pay that back on top of meeting the rest of my cost of living?
"Tomorrow I'm going to go through how to cut the cost of all your debt. Overdrafts, loan, credit cards absolutely down to the bones so you pay the minimum of interests and as much of your money goes as possible to clearing the debt."
Last week's edition of Money Show Live addressed the rising energy bills. Martin reiterated the advice on Good Morning Britain as he explained why the drop in the costs of wholesale gas does not mean a reduction in our energy bills.
He said: "We are currently on a price guarantee of £2,500. On April 1, the current plan is that it will go up to £3,000 so everyone will see a 20% rise. It will then stay at £3,000 for a year until April 2024.
"The only chance it will get cheaper is if the energy price cap were to drop below the energy guarantee."
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