Martin Lewis says people earning under £40,000 could get extra money

Martin Lewis has launched a call to action for every household in the UK with an income below £40,000, suggesting they could be eligible for extra financial support. The renowned money-saving expert is urging people to explore claiming Universal Credit (UC), even if they think their earnings are too high to qualify.

Money-saving expert Mr Lewis pointed out that it was particularly worth investigating for households earning under £40,000 a year, or up to £55,000 for larger families with significant rent obligations. The BBC Sounds podcast host is encouraging people to use the benefits calculator on his MoneySavingExpert website to see if they might be entitled to UC payments.

A common problem is that millions of people miss out on potential benefits simply because they are unaware of available assistance or mistakenly believe their income level disqualifies them. Households are now being asked to check whether they could receive additional financial help.

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The MoneySavingExpert team at Martin Lewis pointed out that while some households may find they are not entitled to extra funds, it is always prudent to check. Their latest guide states: ‘Earning under £40,000 (or possibly more) and not claiming UC? Check now if you can get it.” reports Birmingham Live.

They also advise: “Martin’s rule of thumb is that if your household income is around £40,000 (or £55,000 if you have a larger family and pay high rent) then it’s worth plugging your information into our 10 minute benefit calculation to see. if you’re owed anything (not saying you are, just worth checking).”

“If you qualify, you will receive what is called the ‘child element’, worth around £288/month per child (for the first two children), plus standard allowance. And if you’re working, you can get extra help for extra childcare costs.”