Martin Lewis addressed the end of the £ 20 a week hike for Universal Credit on his latest Money Show live TV show and gave advice to anyone who could potentially run into financial trouble in the coming weeks.
Despite many vocal objections highlighting the adverse effects of the abolition of the increase on 5.2 million households across the UK, including over 450,000 in Scotland, the UK government pushed the decision forward on October 6th.
Martin told viewers, “The £ 20 a week universal loan increase ended at a time when we are in a cost of living crisis. Some people struggle to make ends meet and there aren’t that many solutions. ”
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The finance guru suggested that people create a budget and go through every single line in it and ask themselves:
- Can i cut costs?
- Can I do this cheaper and better?
- Do i need it
He also suggested that people who do not receive benefits budget to see if they could make some savings too.
But for people worried about money, he suggested using free performance calculators to make sure you weren’t missing out on money, and advised anyone with immediate financial concerns to seek help from the local council.
Local councils can offer crisis grants to help low-income people in financial difficulties, food, fuel or other emergencies – find out more here.
The founder of MoneySavingExpert.com recommended using performance check calculators on Entitleto.co.uk and Turn2Us.org.uk.
He stated, “It’s just to see if you deserve something.”
And if you can’t afford your electricity bill, it’s worth talking to your utility company, says Martin.
He also reminded viewers that under the UK government’s Covid support efforts, you cannot be separated and that if you are on a prepaid meter you can get an emergency credit.
He said, “If you are vulnerable, tell your energy company, talk to them, they may be able to put you on a slower payment so you can spread it out over a longer period of time.”
He also recommended checking to see if you were eligible for the £ 140 Warm Home Discount – learn more about eligibility here.
Online performance calculator
With an independent performance calculator, you can find out:
These calculators are free to use, anonymous, and can indicate benefits that you are missing out on.
Where to find help
Advice Direct Scotland
This new online tool is the first to fully integrate decentralized benefits, including the new Scottish Child Payment.
It provides a free and impartial assessment of eligibility for a range of benefits such as universal credit, crisis grants and support payments.
Cycle
Learn about income-related benefits, tax credits, community tax relief, care allowance, universal credit, and how your benefits will affect you when you start work or change your working hours
Politics in practice
Information on earnings-related benefits, tax credits, contributory benefits, council tax reduction, care allowance, universal credit, how these are calculated and how your benefits will affect you when you start work or change your working hours
entitled to
Information on income-related benefits, tax credits, contributory benefits, community tax relief, care allowance, universal credit and how your benefits will affect you when you start work
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What will you need
You need precise information about your:
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savings
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Income, including that of your partner
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Existing benefits and pensions (including those who live with you)
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Expenses (such as rent, mortgages, childcare allowances)
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Council tax assessment
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