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Martin Lewis’ Money Saving Expert urges anyone earning under £40k to check if they can get free cash
Scroll to find out how to claim some extra cash
MARTIN Lewis' Money Saving Expert has urged anyone earning up to £40,000 to check if they're eligible for extra cash.
They say households should check if their total income is under £40,000 - or even up to £55,000 for larger families with high rent costs.
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They say to check if you qualify to get Universal Credit (UC).
While the Money Saving Expert team say it's possible to not be entitled, it's always worth checking.
They said: "Earn under £40k-ish (or possibly more) and not claiming UC? Check now if you can get it.
"Martin's rule of thumb is if your household income's roughly under £40,000 (or £55,000 if you've a larger family and pay high rent), then it's worth plugging your info into our to see if you're due anything (not saying you are, just it's worth checking).
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"If you qualify, you'll get what's called the 'child element', worth around £288/month per child (for your first two children), plus your standard allowance.
"And, if in work, you may get further help towards childcare costs on top."
If this applies to you then you can use a simple online benefit calculator and pop your details in, it only takes around 10 minutes.
The handy tool will then tell you if you can get the cash, worth an average of £9,600 a year.
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There are several to choose from including ones from MoneySavingExpert and the government website.
Martin went on to say that due to thresholds increasing in April, some people who weren't eligible last year might be now so it's definitely worth a go.
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It comes following new analysis by the think-tank Policy in Practice suggests that the total amount of unclaimed income-related benefits and social tariffs is nearly £23billion a year.
In its latest report, it estimates that £8.3billion of Universal Credit is unclaimed by 1.4million eligible households.
Other benefits including pension credit, council tax support, carer's allowance, child benefit and broadband social tariffs are also severely underclaimed.
How much Universal Credit can I get?
Your individual circumstances will affect how much Universal Credit you receive such as how many children you have, your earnings, and how many people you reside with.
Everything you need to know about Universal Credit
- What is Universal Credit? Everything you need to know including how to apply
- Universal Credit calculator: How much can I claim and how do I apply?
- Universal Credit login: How do I sign in to my online account?
- How much can I earn before Universal Credit is reduced and do I get a work allowance?
- What is a Universal Credit advance payment? How to apply and pay it back
- Are Universal Credit payments going up and how much more will I get?
- How to claim Universal Credit if you’re self-employed
- How many hours can I work on Universal Credit and will my payment be reduced?
- What is a Universal Credit budgeting advance and how much could I get?
- What is the Universal Credit housing element and how much of your rent does it pay?
Standard allowance (per month)
- single and aged under 25: £311.68
- single and aged 25 or over: £393.45
- Joint claimants both under 25: £489.23
- Joint claimants where one or both are 25 or over: £617.60
Limited capability for work amount
- £156.11
Limited capability for work and work-related activity amount
- £416.19
Child amount
- Standard amount per child: £287.92
- First child born prior to 6 April 2017: £333.33
Disabled child addition
- Lower rate: £156.11
- Higher rate: £487.58
Carer amount
- £198.31
Childcare costs amount
- Maximum for 1 child: £1,014.63
- Maximum for 2+ children:£1739.37
Work allowances
- Higher work allowance (no housing amount): £673
- Lower work allowance (with housing amount) £404
The easiest way to know how much you'll get is by using a benefits calculator or speaking to a charity.
Who can get benefits?
You can apply for benefits if you're out of work, but also if you're employed.
But eligibility criteria for all the different types can be complex.
That's why using benefits calculators are so handy as they do most of the work for you.
There are dozens of different benefits you can apply for if you live in the UK.
They're roughly split into four groups: families, work, low-income and health/elderly.
If you need help supporting a family, if you're a parent say, you can get:
- child benefit
- child tax credits
- maternity/paternity or adoption pay
- marriage allowance
- maternity grants
- maternity allowance
- widowed parent's allowance
- Scottish child payment
If you're in work or you're looking for work you can get working tax credit or jobseeker's allowance.
If you're on a low income you can get:
- income support
- income-based jobseeker's allowance
- income-based employment and support allowance
- pension credit
- housing benefit
- council tax reduction
- free school meals
- support for mortgage interest
- budgeting loans and advances
- funeral payments
- council support schemes
- cold weather payments
If you are ill, disabled or elderly and need help, you can get:
- attendance allowance
- personal independence payment
- carer's allowance
- new-style employment and support allowance
- sick pay
- state pension
- bereavement support payment
- winter fuel payments
Beyond using a benefits calculator, there are a number of free services available to you if you want to find out what you could be eligible for.
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Organisations like Citizens Advice often have branches in most major towns or cities and can offer you free advice.
Plus, charities like Turn2Us can help you get access to benefits if you think you're entitled to them.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
Plus, you can join our Facebook group to share your tips and stories
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