Martin Lewis has shared a universal rule you should always practice to stay organised financially. He shared the tip on his BBC podcast after asking his listeners to send in their ideas for how to save money.

He specifically asked his fans what tips they had picked up during their working life that would save other people money if they put them into practice. One ex-HMRC inspector sent in the idea to be sure to keep hold of your receipts and financial records.

The previous Government official urged: “Warranty claims, faulty goods, insurance claims; the more records you keep and the more comprehensive they are, the better. It will save you time and money in the long run.”

Chiming in on this, Mr Lewis said one way to take a record of something is by taking a photo of it on your phone. He also said that while the rule of thumb is to keep financial records for the past four to six years, the reality is you don’t know what changes will be coming up.

The expert said: “We don’t know what the future mis-selling cases will be. We don’t know what products you’ve signed up for now – there will be some campaign where you can get your money back in future.

“If you don’t have the documentation, it’s a lot harder to get your money back.” He mentioned the current case of car finance mis-selling.

This relates to historical car finance deals, where customers were not properly informed of the terms of the deal and the interest rates that could apply. The Financial Conduct Authority suggests the average case could be worth £700 in compensation.

Mr Lewis noted a key rule to remember here: “I would always, whenever you sign up for any financial document, I’d take a photo of it, I’d store it on your computer, I’d have it in a file.

“You never need to use it again. The data cost is irrelevant, because it’s just a document. But you never know when you might need it in future.”

Another listener to the show who works as a web developer had another tip for looking after your details. He suggested to use a password manager to store not just your passwords, but also your account information for your bank accounts and your household utilities.

Mr Lewis said this could be a really “useful” tool so a loved one could take on looking after your finances if you are not able to. He said to make sure you only provide access to your details to someone you definitely trust.