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| DON'T believe the fake 'Martin Lewis' or 'MSE' ads |
| Even some with higher incomes are due - don't assume 'it's not me' The inflation figures that the Government normally uses to calculate next April's benefit rises have just been announced (though it's not officially confirmed the changes yet). So it's a great time to remind you that BILLIONS in benefits goes unclaimed each year - most by workers or pensioners who have paid into the system for yonks and are in need of help, but think 'benefits aren't for me' or 'I won't qualify'. These are some of the main benefits that are massively under-claimed (figures from think tank Policy in Practice or Gov.uk): UNIVERSAL CREDIT - 1.4 MILLION miss out on an average of up to £5,800 a year. The catch-all monthly benefit to support those of working age (with low or no income) with living & housing costs. Who's likely missing out? Households with lower incomes, up to roughly £35,000/yr, though if you've kids, high childcare costs and rent, it could be £60,000/yr.
COUNCIL TAX SUPPORT (not N. Ireland) - up to 2.25 MILLION miss out on £1,500+ a year. Every council runs its own scheme, so what you get depends on where you live, but it can cut your Council Tax bill by up to 100%. Who's likely missing out? If you qualify for means-tested benefits such as Universal Credit or Pension Credit, you're often due this, but it's not automatic; YOU MUST APPLY, which is why so many miss out. See our Council Tax discounts guide. CARER'S ALLOWANCE - 530,000 carers miss out on up to £4,250 a year. This is a specific payment for some who act as unpaid carers - whether for a family member, spouse, child, or even someone they're not related to. Who's likely missing out? You must care for someone who usually gets Attendance Allowance, or some on Personal Independence Payment or Disability Living Allowance; spend 35+ hours a week helping with everyday tasks such as washing or cooking; and earn under £151/week or have a low State Pension. Check using our Benefits Calc. PS: If you care for someone for less than 35hrs a week, you may be entitled to Carer's Credit, which helps build National Insurance years for your State Pension (it's back-claimable too, so click the link to read more). PENSION CREDIT - 760,000 pensioner households miss out on £3,900 a year. Pension Credit tops up your income. On average it's worth £3,900/yr, but claim even if you're only due 50p, as its SUPERPOWER is to qualify you for extra benefits. These include the Winter Fuel Payment (if you're eligible, you'll need to apply by 21 December and backdate your claim to September to qualify for this year's), Council Tax Reduction and free TV licences (if you're over 75). Who's likely missing out? Tough to say, but it's worth a check if you're of State Pension age and have a weekly income below £235 (£350 if you're a couple, both of State Pension age). Head to our full Pension Credit guide. HOUSING BENEFIT - 294,000 pensioners miss out on an average £4,400-a-year rent help. For eligible under-66s, support for housing costs is part of Universal Credit, but not for those of State Pension age. Who's likely missing out? Renters eligible for Pension Credit, for instance, on a low income. When you apply for Pension Credit, you can usually apply for Housing Benefit at the same time. If you already get Pension Credit, apply through your council. FREE SCHOOL MEALS - 470,000 families miss out (they're worth £490 a year). A cooked meal served to eligible under-18s during the school or college day. Who's likely missing out? Many new Universal Credit (UC) claimants with very low, or no, income (who don't realise you can only apply once you've had your first UC payment), and others who don't know they may need to re-register at the start of every year for each child. See Free School Meals for how to apply. PS: Claiming benefits is often a gateway to other discounts, such as broadband social tariffs, so if you have success claiming above, check if you're then eligible. Simply being on a low income could qualify you for a water social tariff, so check that too, even if you're not eligible for benefits. |
| Cheapest EVER Virgin broadband '£17/mth'. MSE Blagged. Switchers in 60% of UK homes can get this Virgin 264Mb broadband only (no line) deal for £24/mth. You get an automatic £125 bill credit, meaning it's equivalent to £17.06/mth over the 18mth contract. Can't get it/want other options? See MSE's full broadband comparison. From Thu. M&S beauty Advent calendar for £50 (worth £311). Mega popular with MoneySavers, but you must spend £35+ on clothing, beauty or homeware to be able to buy it. Use it yourself or split it for gifts. Not just any Advent calendar BEAT October's 10% Energy Price Cap rise - many can save £100+ by fixing, with E.on, British Gas & more. While some suppliers have pulled their cheap fixes, a few - including the two biggies - still offer competitive tariffs that undercut the current Price Cap, and will likely mean you save over the year (based on Cap predictions). Plus, if you switch to E.on or British Gas via our Energy Club, you also get £20 dual-fuel (£10 single-fuel) cashback - though with E.on cashback's only for new customers. Always compare: YOUR winner will depend on location and usage, so do an Energy Club comparison which'll also show other competitive deals. Age 40ish to 73? A must-listen! Beat the deadline to boost your State Pension, some gain £10,000s. For each £825ish paid to buy National Insurance years, many gain £5,400+. However, the main opportunity closes in April, and it often ain't quick, so listen NOW to the new The Martin Lewis Podcast - via BBC Sounds | Apple | Spotify or wherever you get your Martin fix (and see his pension-boosting info from last week's email). Vax code gets up to £140 off spot-cleaners. MSE Blagged. Use it to grab either the SpotWash Home Duo for £80 (normally £170) or the Onepwr SpotWash Home Cordless for £110 (normally £250). 7,000 available. Vax 'Carer's Allowance cliff-edge made me feel like a criminal' - why Martin's pushing for change. If carers get paid even 1p more than the £151/week threshold, they lose the whole £82/week Carer's Allowance. Yet the system still pays, so many who have not noticed (eg, after wage changes) need to pay it back. Read Heather's story - she's one of 100,000s affected. New. Top 0% debt shift cards with NO FEE. A balance transfer's where you get a new card that pays off debt on existing cards for you - so you now owe it, but at 0% for a set period. And if you can pay off quickly, you can do this at no cost. The longest fee-free balance transfer, NatWest's 13mths 0%, has been around a while, but Virgin Money's just launched a 9mths 0% card. There's also Barclaycard's 'up to' 12mths 0%, though some accepted will get just 6mths 0%. Links go via our eligibility calc, which shows your acceptance odds before you apply. Golden rules: Repay at least the monthly minimum & clear the card before the 0% ends, or all jump to 24.9% rep APR interest. Martin's video briefing: Pay car insurance by monthly Direct Debit? Beware! It's a loan. And the interest can be 40%+, worse than many credit cards. Watch Martin's car insurance video briefing for info and help to cut the cost. Related: Use MSE's Car Compare+ tool for more ways to save. |
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| Need a loan? The cheapest are 6.1% and aren't likely to get lower soon... The UK base rate was cut to 5% back in August, which should - in theory - mean it's cheaper to borrow. But although we've seen mortgage rates fall and credit card deals get stronger, loan rates so far haven't budged an inch. While that's frustrating, that stability in the face of base rate cuts also suggests that if you need a loan, you're unlikely to save large by waiting... ONLY borrow if it's NEEDED, budgeted for & affordable. Ask yourself if you really need it - if not, don't do it. If you do, then do a budget to ensure you can afford the repayments. Aim to repay as quickly as you can, as that cuts the cost too. Already struggling with debt? Read our Debt help guide.With loans, acceptance is about far more than just your credit file. With all lending, providers assess your credit history. But with loans, the less well-known affordability scoring - where your income is key - becomes even more important. So always use our Loans Eligibility Calculator before applying - it helps you home in on those most likely to accept you, and minimises the credit file impact of multiple potential applications. If odds are low, MSE's free Credit Club (or via the MSE App on Apple or Android) can help diagnose the problem, as it assesses you separately on both credit history and affordability. Plus, there is a version of our loans eligibility calc within the Club (if registered, you won't need to enter any more details). The UK's cheapest loan rates. All rates are fixed for the length of the loan... - £1,000 to £2,999: John Lewis Finance 9.9% rep APR interest, but 0% credit card loans are likely cheaper for many - £3,000 to £4,999: Novuna Personal Loans* 9.9% on £3k to £4k, 9.7% on £4k to £5k, M&S Bank* 9.9% rep APR - £5,000 to £7,499: Santander* 7.2% rep APR, Tesco Bank* 7.2% rep APR (must have a Clubcard) - £7,500 to £15,000: Tesco Bank* 6.1% rep APR (must have a Clubcard), Santander* 6.2% rep APR - £15,001 to £20,000: Tesco Bank* 6.1% rep APR (must have a Clubcard), M&S Bank* 6.2% rep APR Lenders needn't give you the rate they list. Most loans are 'representative APR' meaning, frustratingly, lenders only need to give 51% of accepted customers that rate - the rest can be charged more, without limit. Worse still, often the only way to find the rate YOU'LL get is by applying, which leaves a mark on your credit file. A few lenders now give guaranteed rates via our eligibility check (or via Credit Club eligibility), but they're often not the cheapest. We push for change. Used right, credit cards can beat loans. It all depends on what it's for and how you use it. Though if you don't trust yourself with a credit card, and need the self-discipline of rigid monthly payments, then stick to a loan. If not... - If you're getting a loan to cover existing credit card debts, it's far better to use a 0% balance transfer. - If you need a smaller amount over a couple of years and can pay on plastic, use a 0% spending card. - If you need a smaller amount over a couple of years, but need to pay in cash, use a 0% credit card loan. If you do get a loan, ensure you pay on time (preferably by Direct Debit), or you may be charged and get a missed payment on your credit report, which can cause real problems. |
| Urgent. Free solicitor-drafted wills if you're 55+. Free Wills Month lets those aged 55+ get a free solicitor-drafted (or updated) will in the hope they'll leave a charity bequest. In many places all appointments have been claimed, but if you're in Birmingham, Cornwall, Exeter, Leicestershire, Milton Keynes, Nottinghamshire, Oxfordshire, Plymouth or Torquay (or can travel to 'em), a few remain - so go quick. Free Wills Month New. How to make Halloween absolutely spook-tacular... for free. Avoid Halloween spending horror-shows - MSE's Jenny H and Clare show you how to make your own totally spend-free costumes, decorations & more. Martin: Do you use Buy Now, Pay Later? Watch out - it's not regulated (yet!). That's now due to change, but not until 2026. Watch Martin's new video briefing and read the latest on BNPL regulation. 4,000 FREE £25 Good Housekeeping Live tickets. London, 13 to 16 November. Free tickets Live in Scotland and/or a park home & claim benefits? Apply NOW for £150 Warm Home Discount. It's paid on a first come, first served basis, and a few suppliers have already closed applications. Warm Home Discount What we've asked the Chancellor for in the Budget. Next Wed (30 Oct), Rachel Reeves will announce key policies on the nation's finances. This is a key opportunity for our campaigns - see MSE Katie's blog on what we've called for. |
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| AT A GLANCE BEST BUYS
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| CAMPAIGN OF THE WEEK Do you think 'death admin' is too complicated? The end-of-life charity Marie Curie is calling on UK banks, telecoms firms and energy providers to relieve the huge burden caused by paperwork (sometimes known as 'sadmin') following the death of a loved one, or in the event of a terminal diagnosis. Marie Curie wants companies to simplify their processes and give customer-facing staff more training, alongside other measures. Find out more and sign the 'Make sadmin simple' petition. |
| THIS WEEK'S POLL At what age should children get their own mobile phone? Deciding when to give your child a mobile phone can be a difficult decision. On the one hand, they're a great way to encourage independence; on the other, screen-time can be addictive. So this week, we're asking what age you think is appropriate for children to get their first mobile phone. Monzo and Starling top our annual banking-app poll. Last week, we asked you to tell us how you rate your banks' mobile apps, for both features and usability - almost 18,000 of you responded. Rather unsurprisingly, it was the app-only banks that were rated highly. For Monzo, 84% of its customers rated it 'great' for features and 80% rated it 'great' for usability, while over 80% of Starling's customers rated it 'great' for both features and usability. Bottom of the pile was Co-op Bank, which was rated 'poor' by 34% for features and by 25% for usability. See full poll results. |
| MONEY MORAL DILEMMA Should I pay more towards our household costs? I moved in with my partner in 2016. He said he was happy to continue paying the bills himself as the house is his mum's, so we don't have a mortgage or pay rent - but he pays the mortgage on his mum's bungalow, which he built. He's now started moaning about his outgoings, so I worked out what I pay towards the household - for example, I do all the shopping - and it's more than his bills amount to. I've also bought every household item, such as bedding and utensils, and we split the cost of DIY 50-50, so I feel I'm already paying over and above for a house I'll never own. Should I offer to contribute more? Enter the Money Moral Maze: Should I pay more towards household costs? | Suggest a Money Moral Dilemma (MMD) | View past MMDs |
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| MARTIN'S APPEARANCES (TUE 22 OCT ONWARDS) Tue 29 Oct - This Morning, phone-in, ITV1, 10.20am |
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