The average top-up is £67 a week so thats £3,500 a year. I am very concerned about buy now, pay later,' he said. Technically its a means-tested benefit to help those without enough to live off, with two parts: Guarantee credit: This tops your income up to at least £201.05 a week for single people or £306.85 a week for cohabiting or married couples of state pension age. Watch Martin's video explainer, courtesy of ITV's The Martin Lewis Money Show. Lewis went on to advise anybody feeling the pinch to not be tempted by buy now, pay later offers. Martin Lewis has warned pension savers they could lose 1,000s, or even 10,000s, from their pension by falling foul of a trap that sees withdrawals taxed. The time to make that switch is now, too, with the price of an individual prescription expected to rise from £9.35 on April 1.

Other tips offered by Lewis included investing in an annual prescription certificate for £108 if you currently pay for more than 12 prescriptions a year. “If you have an income of less than £30,000 and you are struggling, it is worth spending ten minutes on a benefits calculator to see what you are entitled to,” Lewis reasoned. Speaking in a hour-long episode of The Martin Lewis Money Show, the ITV presenter predicted that the cost of living crisis is going to prove particularly challenging for those who fall in that bracket, which it is estimated that half of the UK's population do with £30,800 the country's median household income in 2020, according to GoSimpleTax. Money Saving Expert Martin Lewis has advised any household with an annual income of less than £30,000 to spend 10 minutes on a benefit calculator to see what they are entitled to, it was reported in the Manchester Evening News.

Martin lewis money calculator