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UNIVERSAL CREDIT 
(If you’ve lost your job or income because of coronavirus, you might want to apply for Universal Credit)
THREAD, by @ikeeyah_
(If you’ve lost your job or income because of coronavirus, you might want to apply for Universal Credit)
THREAD, by @ikeeyah_
If coronavirus has meant you’ve lost your job, had a pay cut, been furloughed or had work cancelled, you might be struggling with money.
The government has existing benefits you might be able to use – and Universal Credit is one of them.
Want to know more? Keep reading
The government has existing benefits you might be able to use – and Universal Credit is one of them.
Want to know more? Keep reading
UNIVERSAL CREDIT: usually a single monthly payment you get from the government.
It's meant to cover your living costs if you’re out of work or on a low income.
It's meant to cover your living costs if you’re out of work or on a low income.
It’s a means tested benefit, which means the amount you’ll get depends on your household circumstances and existing income.
The government assesses your circumstances month to month, so there’s a chance the amount you get could change if your income or situation changes.
The government assesses your circumstances month to month, so there’s a chance the amount you get could change if your income or situation changes.
ELIGIBILITY
You may be entitled to get Universal Credit if:
* you’re out of work or on a low income
* you’re over 18 (a few exceptions if you’re 16-17)
* you’re under state pension age
* you and your partner have £16,000 or less in savings
* you live in the UK
You may be entitled to get Universal Credit if:
* you’re out of work or on a low income
* you’re over 18 (a few exceptions if you’re 16-17)
* you’re under state pension age
* you and your partner have £16,000 or less in savings
* you live in the UK
Check the full eligibility list: https://www.gov.uk/universal-credit/eligibility
The standard allowance if you’re a single person is either £342.72 (under 25) or £409.89 (over 25).
If you’re a couple, you could get £488.59 (under 25) or £594.04 (over 25) for the both of you.
If you’re a couple, you could get £488.59 (under 25) or £594.04 (over 25) for the both of you.
If you’re eligible, you could get extra amounts as well as the standard allowance – check the criteria below: https://www.gov.uk/universal-credit/what-youll-get
HOW YOU GET PAID
If you’re employed, the amount of Universal Credit you’ll get depends on your earnings. The more you earn, the less you’ll get.
For every £1 you make, they’ll decrease your allowance by 63p.
There’s no limit to how many hours you can work.
If you’re employed, the amount of Universal Credit you’ll get depends on your earnings. The more you earn, the less you’ll get.
For every £1 you make, they’ll decrease your allowance by 63p.
There’s no limit to how many hours you can work.
If you want to see how your earnings will affect what Universal Credit you get, use this calculator: https://www.gov.uk/benefits-calculators
The government will make Universal Credit payments directly into your bank account.
It usually takes up to 5 weeks after the date you submitted your claim for you to get the first payment.
It usually takes up to 5 weeks after the date you submitted your claim for you to get the first payment.
If you need money sooner, you could apply for an advance and could get up to 100% of your estimated first payment.
Just remember – you’ll repay this advance through deductions from your future Universal Credit payments, which will affect how much you have to spend each month.
Just remember – you’ll repay this advance through deductions from your future Universal Credit payments, which will affect how much you have to spend each month.
HOW TO APPLY 
You can apply for Universal Credit online.
To apply, you’ll need:
* your bank details
* email address
* information about your housing
* details of your income (payslips)
* details of any savings/investments
* details of your childcare costs
You can apply for Universal Credit online.
To apply, you’ll need:
* your bank details
* email address
* information about your housing
* details of your income (payslips)
* details of any savings/investments
* details of your childcare costs
Read our full guide on how to access Universal Credit https://monzo.com/blog/access-universal-credit
https://monzo.com/blog/access-universal-credit
