Martin Lewis news — Money Saving Expert gives urgent savings warning as live show returns tonight – plus pension tips | The Sun
MARTIN Lewis returns for a special live show tonight as the money guru shares crucial advice for boosting your state pension.
The UK's Money Saving Expert will be back tonight at 8pm on ITV and ITVX as shares urgent tips for Brits to boost their state pensions.
Taking to Twitter, Lewis wrote: "At 8pm tonight the Martin Lewis Money Show is back with a crucial show on boosting the state pension (maybe by £10,000s).
"It's a must-watch for 45-70s as for many it's the biggest single lifetime financial improvement possible."
The Good Morning Britain presenter also confirmed he will be sharing urgent energy tips for Brits looking to cut back on bills.
Read our Martin Lewis below for the latest updates…
- By Henry Moore
The Martin Lewis Money Show to return TONIGHT
Martin Lewis will be back tonight with a new edition of his money show.
The episode will focus on helping Brits boost their state pension.
It airs this evening at 8pm on ITV and ITVX.
- By Henry Moore
Are you eligible for benefits?
A number of charities have benefits calculators that you can use to work out if you are entitled to any extra help.
This includes:
- Turn2Us
- Policy in Practice
- EntitledTo
It’s worth looking into, as if you do qualify, it could make you eligible for the £900 cost of living payment too.
What is pension credit?
Pension credit is designed to boost your income if you’re over the state pension age and on a low income.
On top of the government’s cost of living payment, pension credit also makes you eligible for other support such as the Warm Home Discount scheme worth £150 a year and help with council tax.
The benefit could be worth more than £3,300 a year.
- By Henry Moore
How much has the national living wage increased by?
The national living wage (NLW) increased on April 1, from £9.50 per hour to £10.42 for people over the age of 23 years – an increase of 92p or 9.7%.
For 21 to 22-year-olds, the NLW has risen to £10.18 per hour.
The rate for people 18 to 20 years of age has risen to £7.49.
And for 16 to 17-year-olds and apprentices, the NLW is £5.28 per hour.
The London living wage, which is higher, is currently set at £11.95 per hour.
- By Henry Moore
How to catch up on the Martin Lewis Money Show
You can catch up on the Martin Lewis Money Show via ITV's streaming service ITVX.
Last year's series of the show provided crucial advice for Brits in need of financial support, from energy-saving tips to urgent money warnings.
The hit show returns tonight at 8pm.
- By Henry Moore
Free debt advice
If you’re in debt there are plenty of services you can take advantage of and they offer free advice on how to manage debt.
Most of them can offer you free guidance and help in person, over the telephone or online.
- Money Helper – 0800 138 7777
- Citizens Advice – 0808 800 9060
- StepChange – 0800 138 1111
- National Debtline – 0808 808 4000
Who's eligible for the Universal Credit budgeting advance?
To get a budgeting advance, you must have:
- Been getting Universal Credit, Employment and Support Allowance, Income Support, Jobseeker’s Allowance or State Pension Credit for six months or more, unless you need the money to help you start a new job or keep an existing job
- Earned less than £2,600 (£3,600 jointly for couples) in the past six months
- Paid off any previous budgeting advances
How much you can get depends on whether you can pay the loan back and whether you have any savings over £1,000.
Your first £1,000 of savings will be ignored, but the loan amount you are offered will be reduced by £1 for every £1 you have over that first £1,000.
You can apply for a budgeting advance to cover things like:
- A one-off item – for example, replacing a broken fridge
- Work-related expenses – for example, buying uniform or tools
- Unexpected expenses
- Repairs to your home
- Travel expenses
- Maternity expenses
- Funeral expenses
- Moving costs or rent deposit
- Essential items, like clothes
Top 10 travel hacks to save some money
Are you a super savvy saver when it comes to booking holidays? Or do the websites get the best of you, causing you to miss out on deals?
Below are some top tips on saving money when booking a holiday.
- Compare different travel dates to see if it’s cheaper
- Search for flights departing on a particular day to see if it’s cheaper
- Pay for flights with a credit card
- Book a hotel directly rather than through a third-party site
- Pack as lightly as possible to avoid baggage charges
- Search for flights six-eight weeks in advance of the trip
- Buy a package deal to make the entire trip less costly
- Compare multiple flight comparison websites
- Compare multiple airline websites directly
- Book flights in the ‘off season’ of where you’re travelling to
Which benefits are means-tested?
The means-tested benefits are:
- Universal Credit
- Income-based jobseeker’s allowance
- Income-related employment and support allowance
- Income support
- Pension credit
- Tax credits (child tax credit and working tax credit)
- Housing benefit
- Council tax support
- Social fund (sure start maternity grant, funeral payment, cold weather payment)
To be eligible to receive any of these benefits, you must be able to demonstrate that your total capital is less than a certain amount.
- By Henry Moore
How do you log in to Universal Credit?
Universal Credit claimants can see their online account by logging in via the gov.uk website.
You’ll need your username and password – which are the same ones you had to set up when you first applied for benefits.
If you have forgotten your login details, you can put in a request to reset your username or password by entering your email address.
If you have an online Universal Credit account, you can also sign in via gov.uk verify.
In a worse case scenario, you can always try calling the Universal Credit helpline on 0800 328 5644 (Textphone: 0800 328 1344).
You can also get in contact via NGT text relay on 18001 then 0800 328 5644.
There’s a Welsh language helpline available on 0800 328 1744 too.
- By Henry Moore
What is pension credit?
Pension credit is designed to boost your income if you’re over the state pension age and on a low income.
On top of the government’s cost of living payment, pension credit also makes you eligible for other support such as the Warm Home Discount scheme worth £150 a year and help with council tax.
The benefit could be worth more than £3,300 a year.
- By Henry Moore
What are means-tested benefits?
Some government benefits are means-tested.
Means-tested benefits are awarded based on a person's financial situation.
They are awarded based on your income and how much capital you have.
As such, means-tested benefits are only available to those who can prove that their income is under a certain amount.
Plus, exactly how much you are entitled to can vary from person to person.
The amount you can receive depends on how big the difference is between your earnings and how much you require to live on.
- By Henry Moore
What temperature to run your washing machine at to save money
To save on your energy bills, experts suggest lowering the temperature at which you wash clothes.
You’ll still be getting fresh and clean clothes if you switch from a 40C wash to a 30C one and it could save you £12 a year on average, according to Energy Saving Trust.
If you use your washing machine a lot, you’ll save even more if you lower the temperature.
Uswitch energy expert Will Owen previously told The Sun: “Use a cold water or 30C cycle where possible. It’s only for particularly dirty clothes, bad stains
- By Henry Moore
Five top tips to avoid wasting diesel and petrol while driving
With the cost of living crisis continuing to take a toll, the increased cost of fuel is a concern for most drivers.
Handily, insurance experts at A-Plan Insurance have rounded up five tips to help motorists avoid wasting fuel unnecessarily while driving.
- Watch your speed
- Watch your gears
- Remove weight and reduce drag
- Maintain your tyres
- Avoid travel hotspots
You can find more details on each of the above top tips here.
Who is eligible for bereavement support payments?
More than 21,000 households affected by bereavement but previously denied support can also apply for backdated payments.
To qualify for a payment, claimants must have met the eligibility criteria for either bereavement support payment or widowed parent's allowance on or after August 30, 2018.
This means those who lost their partner before April 6, 2017 might be able to receive the legacy benefit widowed parent's allowance, should they be found to have been eligible for this on August 30, 2018.
Similarly, a surviving parent who lost their partner on or after April 6, 2017, may be eligible for its replacement, bereavement support payment – should they have been qualified for this on August 30, 2018.
Households have until February 8, 2024, to submit any backdated claims.
The exact amount of bereavement benefit you'll be entitled to will depend on when they lost their partner and any other financial circumstances.
- By Henry Moore
The Martin Lewis Money Show to return TONIGHT
Martin Lewis will be back tonight with a new edition of his money show.
The episode will focus on helping Brits boost their state pension.
It airs this evening at 8pm on ITV and ITVX.
- By Henry Moore
What is the energy price cap?
The price cap on energy bills was introduced in January 2019 as a way to prevent households being ripped off by their energy suppliers.
It is currently £3,280 a year on average.
But households only pay £2,500 a year on average, as the price is overruled by the energy price guarantee, which is cheaper.
However, this will fall to £2,074 from July when the price guarantee finishes and the energy price cap comes into force.
Because the price cap changes every three months, it means prices could go up or down from October.
It affects around 29million customers on default or variable tariffs, according to the regulator Ofgem.
The cap is calculated based on the wholesale price of gas and electricity.
It also includes allowances for tax, charges paid to the energy networks, green levies and social payments.
The reason it has gone up so much in the last 18 months is partly due to Russia limiting its gas supply to Europe.
But there's also been high demand from Asia which has seen prices surge.
The UK also imports more than two-thirds of its gas which is subject to global price swings making prices more volatile and likely to rise.
- By Henry Moore
Free debt advice
If you’re in debt there are plenty of services you can take advantage of and they offer free advice on how to manage debt.
Most of them can offer you free guidance and help in person, over the telephone or online.
- Money Helper – 0800 138 7777
- Citizens Advice – 0808 800 9060
- StepChange – 0800 138 1111
- National Debtline – 0808 808 4000
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