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Evening Standard
Evening Standard
World
Seren Morris

What is a budgeting loan? How it works, who is eligible and how much you can borrow

People across the UK will be looking for ways to save money or access extra help over the next few months, especially people on low incomes and those receiving benefits.

Those who are not able to increase their incomes or who simply run out of money may be able to apply for a budgeting loan. This is a government scheme that helps people on certain benefits borrow money to pay for essentials.

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