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Increasing Your Income

Maximising income is about making sure you are receiving the maximum amount of money due to you. There are many ways of maximising income or raising a lump sum.

  • Ensure you are claiming all tax and welfare benefits that you may be entitled to. Your nearest advice centre can do a tax and benefits check for you and help you fill out any application forms.
  • Check to ensure your tax code is correct and that you are claiming any tax credits you are entitled to. For information on tax credits contact your local Inland Revenue office or visit their website
  • Claim maintenance from the Child Support Agency if your relationship has broken down.
  • Complete a household budget and look at how you might rethink your spending habits.
  • Apply to EAGA or the Northern Ireland Housing Executive for a home efficiency or home improvement grant.
  • Apply to a local charity like Saint Vincent de Paul or Health Trust for assistance.
  • Increase your earnings by asking your employer for some overtime. Be careful though that this does not affect any tax or benefits you might be receiving.
  • Downsize your home. It may be possible for you to release some equity from your home by selling and moving to a less expensive property. However, you may have to pay an early repayment penalty to your mortgage provider.
  • Rent out a room in your home. However, you might need to get permission from your landlord to do this. Also, renting a room might cause your benefits to be reduced and your insurance payments to be increased.

Your nearest advice centre can help you with all of the above.