UNIVERSAL CREDIT BUDGETING
Universal Credit is a social security benefit that provides financial support to low-income or unemployed people in the UK. It aims to simplify the benefits system by replacing the six existing benefits with one monthly payment. These payments are intended to cover housing costs for applicants and their families.




Budgeting is an essential skill for everyone to enjoy Universal benefits. Managing your finances well can be difficult, as monthly payments are not made weekly or biweekly.
In this article, we will discuss some tips and tricks for getting the most out of Universal Credit.
Know your income
Before you create a budget, you need to know your income. Universal Credit is calculated based on a number of factors, including your age, whether you have children, your mortgage, an your income. The amount you receive may also decrease if you have savings or if you or your spouse are earning more than a month.

You should check your Universal credit report regularly to get an accurate picture of your income.
The report will show you how much you will receive and when it will be paid. It will also show you how your payments were calculated so you can see what has changed since your last payment.
Create a budget
After you know your income, you can create a budget. A budget is a plan for how money will be spent. It should take into account all your living expenses such as rent, meals, utilities and transportation, as well as non-essential expenses such as utilities, entertainment and entertainment.
To create a budget, start by listing all your income sources and all your expenses. You can do this on paper or with a financial statement or spreadsheet. Be sure to include regular expenses such as car repairs or medical bills, and set aside a portion of your monthly income to cover these expenses.....read full article onhttps://www.deembizz.blog/2023/05/universal-credit-budgeting.html

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