There, he took his audiences through a beginner’s guide to investing and set out how putting money into stocks and shares is potentially much more lucrative than even the top paying savings accounts.

Introducing the show, Martin Lewis warned: “As a nation we under-invest. We’re risk averse, and that carries its own risk.

“If you put money in savings, even in the top paying savings, over the last decade they will have actually lost value, as those shrunk compared to inflation.

“So if you’re putting money away for the longer term and want more rapid growth, investing will often outperform savings.

“If you’ve got assets, it’s usually worth having some – not all – invested.”

Martin then explained how the value of £1,000 of savings 10 years ago would change in a cash savings account compared to the top investment index funds.

Before that, he explained that you should only invest if you have a suitable emergency fund, because you want to only invest money that you won’t need in the short term.

He added: “You are investing for a long period, hopefully you’ve made the right decision and you have to look at it over a long period. And it has to be with money that you’re not gonna need to escape, because the last thing you want is to be forced to sell here [at the bottom] because you need that money for the window that’s been smashed in your kitchen.

“That’s not the money you put in investing. Which is why the golden rule here is this: only invest what you won’t need for at least five years some say three some say 10, after clearing your expensive debts and you’ve got a savings emergency fund of three to six months’ worth of bills.

“If you haven’t got that, you’re not ready and in a position to invest yet I would say.”

But then he set out why it’s so lucrative, adding ‘but here’s the magic’.

Martin found that £1,000 put into the best top-paying savings accounts ten years ago and always moved to the best rates along the way would convert £1,000 ten years ago to £1,270 now.

Inflation has made the value of £1,000 then, £1,391, so you’ve lost money against inflation even if you were using all the top paying savings accounts.

Martin added: “So that’s top savings over the last 10 years. In reality it’s been top losings. “Now let me put those three index funds in there.

“The FTSE would be £1,640 from your £1,000, the global tracker £2,980, the S&P, £3,790. Nearly four times what you started with.”

For more details on investing, watch back The Martin Lewis Money Show Live, Tuesday December 9 episode on ITVX.