Great news for those on Universal Credit! 🎉 A recent change in the “Help to Save” scheme means more families are in line for some extra cash. Initially planned as a temporary measure, it’s now here to stay with expanded eligibility set for April 2028.
So, what’s the buzz? If you’re on Universal Credit and juggling caring responsibilities, you might be among the 1.5 million families who can benefit from this. Imagine getting a bonus that could boost your savings by up to £1,200!
Here’s how it works: Save between £1 and £50 every month, and the scheme will add an extra 50p for every £1 you save. Over a span of four years, if you save the max of £2,400, a nice £1,200 bonus will land straight into your bank account. 💸
Already, close to half a million people have racked up over £220 million in bonuses through this initiative. If you’re already saving through the scheme, you’re in good company with many using the HMRC app to keep tabs on their bonus and deposits.
Making deposits is super flexible—use a debit card, standing order, or bank transfer. And while withdrawals are allowed anytime, remember that it might affect your bonus.
Starting in 2028, the expanded criteria mean even more people will have a chance to save more effectively. Keep an eye out for this change and boost your savings effortlessly!
For those on Universal Credit, this is a win! Get ready to save, earn bonuses, and manage your budget with a little extra help. 💰🌟