Martin Lewis says under £60k earners could be missing out on extra cash over simple check

Joseph Wilkes & Harry Leach

13 May 2024 at 4:59 am·1-min read

Martin Lewis’ MoneySavingExpert has warned workers earning under £60,000 that they could be missing out on extra cash. The money-saving website is urging those earning under the wage threshold to take a quick 10-minute review.

The website says workers earning less than £60,000 should double-check if they're eligible for Universal Credit. Martin Lewis' experts flagged up the advice in their latest newsletter.

It read: "Who's likely missing out? Households with lower incomes, up to roughly £35,000 a year, though if you've kids, high childcare costs and rent, it could be £60,000."

The alert comes after a staggering £23billion in means-tested benefits and social tariffs for this financial year went unclaimed, reported The Mirror. Over £8billion in Universal Credit was reportedly going unnoticed by upwards of 1.4 million individuals.

The average amount people were failing to claim each year was £5,772, according to think-tank Policy in Practice. Checking eligibility for benefits could result in extra cash and also various cost-of-living payments.

Those on Universal Credit might also qualify for additional help such as free school meals or reduced utility bills. Martin Lewis' MoneySavingExpert.com has a benefits calculator for people to use, with the simple process taking just 10 minutes.

Anyone using the calculator will need their bank statements and any information on pensions or existing benefits. Click here to take the quick check.

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