The new financial year began on Saturday, meaning people may have more money coming in - and perhaps more going out.
More than 30 million people are set to benefit from the increase to the personal allowance and higher rate threshold.
As a result, the tax-free personal allowance has been increased to £12,500 for 2019/20, from £11,850 previously, meaning an extra £130 for the typical basic rate taxpayer.
People do not have to pay income tax on money earned below this amount.
State pensions will rise by £3.25 a week (old) or £4.25 (new), taking the rate up to £168.60 for the New State Pension.
Other allowances raising include Disability Living Allowance, Personal Independence Payment and Carers' Allowance, which are all rising by around 2.4 per cent.
The National Minimum Wage has also been increased, to £7.70 per hour for 21 to 24-year-olds and £6.15 per hour for 18 to 20-year-olds.
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Taken together with the National Living Wage, 2.1 million people are set to get a pay rise, the Treasury said.
The Treasury said a fuel duty freeze for the ninth year in a row and increases to work allowances in Universal Credit will go towards helping families with the cost of living.
Universal Credit will be up to £630 better off as the Work Allowance (the amount people can earn before benefits start to taper) rises by £1,000 a year.
But only families with dependent children and the disabled get work allowances. Childless couples - or those whose children have flown the nest - won't benefit from the rise.
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List of the main benefit and state pension rates in full
Here's how rates are due to change - stated weekly unless otherwise shown.
Attendance allowance: £87.65 (up from £85.60)
Bereavement support payment: £2,500 or £3,500 lump sum (frozen)
Benefit cap: £23,000 a year in London / £20,000 outside (frozen)
Carers' allowance: £66.15 (up from £64.60)
Disability Living Allowance: £148.85 maximum (up from 145.35)
Employment and Support Allowance: £73.10 basic for over-25s (frozen)
ESA component for 'work-related activity' group: £29.05 (frozen)
ESA component for 'support' group: £38.55 (up from £37.65)
ESA severe disability premium: £65.85 (up from £64.30)
Housing benefit: £73.10 for single people over 25; £114.85 for couples over 18 (frozen)
Jobseekers' allowance: £73.10 for over-25s, £57.90 under-25s (frozen)
Maternity allowance: £148.68 (up from £145.18)
National Minimum Wage: £8.21 per hour (up from £7.83 from April 1)
Statutory maternity/paternity leave pay: £118 (up from £116)
PIP daily living enhanced: £87.65 (up from £85.60)
PIP daily living standard: £58.70 (up from £57.30)
PIP mobility enhanced: £61.20 (up from £59.75)
PIP mobility standard: £23.20 (up from £22.65)
New State Pension: £168.60 (up from £164.35)
Old State Pension: £129.20 (up from £125.95)
Pension credit: £167.25 minimum guarantee for a single person (up from £163)
What about Universal Credit?
Universal Credit combines many of the above benefits into one payment so it's more complex to explain.
Most non-disability rates and allowances are frozen, but it depends on circumsances.
And there is one big exception.
The work allowance - the amount disabled people or parents can earn per month before benefits start being clawed back - will rise from £198 to £287 a month.
For people who aren't paid housing costs, it will go up from £409 to £503 a month.
The rise is a total of £1,000 per year, allowing families to keep up to £630 of extra earnings over the year.
Universal Credit work allowances were raised after furious complaints by MPs who said the benefit was driving people into poverty.
However, childless claimants or those whose kids have flown the nest do not benefit from the work allowance.
Rates vary depending on circumstances. For the full breakdown of new rates from 8 April 2019 click here.
