Martin Lewis, renowned financial expert and founder of MoneySavingExpert, is urging people to take a few minutes to check if they might be missing out on potentially thousands of pounds in extra help. In a recent newsletter, he highlighted that most benefits, including Universal Credit, increased by 10.1% from April, which is more than some people's wages. As a result, even low-income households that did not qualify for benefits last year may now be eligible for assistance.
Martin emphasized that those who start claiming certain benefits, such as Universal Credit, from now on may also be eligible for the second and third cost of living payments for 2023-24. This could mean an additional £600 in their finances.
To help people determine their eligibility, Martin recommends using the MoneySavingExpert benefits calculator, which was developed by specialists at Entitledto and covers most of the Department for Work and Pensions (DWP) payments. However, he cautions that it does not cover all benefits, so it should be used as a "ready reckoner" or a starting point for further investigation.
