When Will My Benefits Be Paid Over The May Bank Holiday?
Many households across the length and breadth of the UK rely on some form of benefit from the government. When you hear about people being ‘on benefits’, it usually conjures up thoughts of people waiting in the job centre queue. Actually, the reality is very different to this. Just around 900,000 of the 5,000,000 or so people who claim some form of benefit are unemployed and claiming Job Seekers Allowance. Much of the total is taken up by tax credits, which many families receive and rely upon for certain set expenses.
If you can relate to this, then it may be worth making sure your accounts aren’t affected too much by the upcoming bank holidays in May. Monday 4th May and Monday 25th May are both bank holidays, so if you’re due to have benefit money paid into your account on either of these two dates, be prepared to receive your money a little earlier.
If you rely on these payments to meet crucial bills which are not to be paid until later, ensure you set aside the money you need. It has been known for people to forget that it’s an early payment date, think they have more money than they actually do and spend more than they can afford over the bank holiday itself, only to have a rude awakening on Tuesday morning!
If you have plans over the bank holidays then be aware that some other banking payments may be affected. You should make sure you know when any Direct Debits are going to be coming out of your account around the bank holiday, just in case one of them has been moved to accommodate the extra day off.
If the numbers of benefits claimants above surprise you, then you may want to look into whether you are eligible for additional help. Tax credits, for example, are available to many households who have children, even where all caregivers are in work. MoneySavingExpert has a handy tool which can help you to calculate if you’re entitled to anything. You can also visit your local Citizens Advice Bureau or Council One Stop Shop for advice and guidance.
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