In 2012-2013, a single person can get up to £107.45 a week basic State Pension, though some people get less than this. Many people get more than this amount, because they also get an additional State Pension.
If you are a dependent, you can help reduce the financial pressure on your family by cutting down the demand and finding ways to help them save money on things.
The Healthy Start Scheme is available to parents of children under 4, and pregnant mums if they meet certain income and benefit criteria or are under 18. You can find out more by calling 0845 607 6823.
You can report a loan shark in confidence to an Illegal Money Lending Team by calling 0300 555 2222, or by texting LOAN SHARK and any details you want to pass on to 60003.
When you pay part of your salary into a workplace pension, your employer and the government will contribute too. Each employer contributes a different amount, and the Government gives tax relief on your lower salary, where the saving on your income tax is paid into the pension. This is known as “salary sacrifice”.
Council Tax helps pay for local services like policing and rubbish collection. Council Tax applies to all domestic properties, including houses, bungalows, flats, maisonettes, mobile homes and houseboats, whether owned or rented.
If you live alone you can apply for a 25% reduction in your Council Tax bill. Contact your Council Tax office for more info.
If you are a parent under 20 at the start of your course, Care to Learn can help pay for your childcare and related travel costs while you’re learning – up to £160 per week.
If you are living with a partner or with your family, money problems affecting those you depend on will affect you too. See how you can help out by doing your bit to help reduce costs – this will also ease the stress that lack of money puts on members of your family.
Savings accounts typically earn more interest than a current account, and some require 0, 30, 60 or 90 days notice to withdraw money from them.