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6. MAXIMISING MY INCOME

We've already seen Tony Palmer suggesting you work extra hours or get an extra job as well as pointing you towards your benefit entitlements. Alex Keen agrees, noting that if you're in financial difficulties you may well qualify for State benefits if at the same time you're unemployed, on a low income, sick or suffering a disability, or bereaved.

In Managing Debt - A Guide for Older People under the heading Income Maximisation tips once more include investigating State benefits thoroughly (not forgetting that your spouse may be entitled to some). You could rent out a room and should check for maturing policies or building society windfalls. Find a cheaper way of paying your bills and make sure your tax code is correct. Take up part-time work and discuss with an IFA (independent financial adviser) whether you should spend your savings on debt repayment, making sure that the adviser does hold a Consumer Credit Licence and has so-called permission D in respect of debt adjusting and counselling.

As Lorraine Turner is anxious to increase your wealth as well as reduce your debts she too has advice. Chapter 3 Increasing your Income is very detailed on the subjects of benefits you could be enquiring into. It also suggests you should be checking whether you could have overlooked any insurance policies, taken out for example by a former employer on a deceased spouse. Garage sales, car boot sales and adverts in free papers are opportunities for you to make some money out of your clutter.

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