The winter fuel payment for anyone over 60 is normally paid automatically but there are some who may need to make a claim.
If you are over 60 but not in receipt of state benefits or pension and have not previously applied you may need to make an application and you can find out if you qualify for the winter fuel allowance here <click here>.
Interest rates for savers are fairly disappointing right now and things don’t look as though they will change very much anytime soon so, if you have a small pot of money looking for a home you might like to consider investing in some premium bonds.
You don’t get any interest at all but the money is guaranteed safe, you might get a nice little win and any winnings are tax free. National Savings And Investments have increased the winnings pot by around 50% giving more opportunities for your premium bond to win a prize.
The odds of winning any prize have improved from October onwards from around 36,000 to one to a much better 24,000 to one. It is estimated there will be around 1.79 million prizes awarded in October 2009 with the prizes ranging from one £1,000,000 prize through to 1,683,024 prizes of £25.
You can read more about the background and workings of premium bonds and the official site is here NSandI
One way of making a little extra income is by renting out a spare room in your house to a lodger. The government has a scheme whereby you are allowed to earn a £4,250 each year, tax free, if you rent out a room and you can find out more here… Rent A Room Scheme
Lodgers come in all shapes and sizes and choose to rent a room for many different reasons from needing accommodation near their work for a few months or as a new start after divorce and the loss of their family home.
Renting a room does not have to mean you are sharing all of your house with a stranger. In many cases lodgers become family friends for life but you have the choice about how much access they have to the rest of the house. They obviously need access to the kitchen and bathroom but you decide if they are allowed to use the garden, the lounge or any other rooms you have.
It is a good way to bring in some additional income to help you overcome your debt problems or just to give you a better standard of life or to build your pension pot and if you have a spare room or two it might be something worth looking in to.
