MILLIONS of Brits will begin receiving the first instalment of the government's £900 Cost of Living Payment today.
Some 8 million eligible Brits will have the £300 cash payment sent straight to their accounts, no application needed.
The payment will be worth exactly £301, and will be followed by two more instalments - worth £299 and £300 - coming this autumn and Spring 2024.
The payment is designed to help Brits with the soaring cost of living and will ultimately be sent to over 8 million people, but might not arrive straight away today.
To be eligible you will have to claim one following benefits; Income-based jobseeker’s allowance, Income-related employment and support allowance, Income support, Pension credit, Child tax credit, Working tax credit and Universal Credit.
Read our Cost of Living blog below for the latest updates...
How to reduce the cost of your supermarket shop
At a time when prices are sky high, households will be looking for ways to cut costs on their supermarket shop where they can.
Here we share a number of savvy saving tips to help you cut the cost at the till – and save some much-needed cash.
- Know when to shop – Heading to the shops when products are marked down and bright yellow discount stickers are applied can save a fair bit of cash.
- Hunt for yellow sticker bargains – You should also keep an eye out for yellow stickers to get the best food bargains.
- Make the most of loyalty schemes – Here we revealed the best and worst supermarket loyalty schemes including Asda, Tesco, Sainsbury’s and Morrisons.
- Shop wonky – Strange-shaped fruit and vegetables taste the same but cost less.
- Make a list – One of the most common mistakes shoppers make is going out underprepared.
How to know if you need Universal Credit?
Universal Credit combines a number of benefits into one monthly payment.
It replaces: Child Tax Credit, Housing Benefit, Income Support, Income-based Jobseeker’s Allowance (JSA), Income-related Employment and Support Allowance (ESA) and Working Tax Credit.
People who are already receiving these benefits will be transferred to Universal Credit between now and 2024 in a move known as managed migration.
The payment is made up of a standard allowance and any extra amounts that apply to you, for example if you:
- Have children
- Have a disability or health condition which prevents you from working
- Need help paying your rent
You can use a benefits calculator to see how much you could get.
Find out more about what Universal Credit is and whether you might be eligible for a claim.
The more you earn the less you’ll get, because of the taper system – here’s how it works.
Universal Credit claimants often struggle with the five-week wait for payments, but you can get an advance.
What is the Household Support Fund?
The Household Support Fund was launched in October 2021 to help Brits pay their way through winter amid a cost of living crisis.
Councils up and down the country got a slice of the £500million funding available to dish out to Brits in need.
The help you can get varies depending on who your local council is, as well as your personal situation.
But you may be able to get free cash and vouchers to help pay for things like heating your home or to cover the costs of your weekly grocery shop.
If an applicant is already receiving benefits, these will not be affected by the HSF.
And, you do not need to be getting benefits to receive vouchers or funds from the HSF.
Deadline to apply for free £400 energy bill cash
Over 900,000 households were discovered to be ineligible for the automatic £400 energy bill discount given out between October and March.
However, these households can manually claim the cash back on the government website - but they only have until the end of May to claim the free cash.
You'll be eligible to apply for the £400 energy bill discount if your main home is:
- A residential park home
- On a boat on a permanent residential mooring
- On a permanent Gypsy and Traveller site
- Part of a heat network without an electricity meter
- In social or private rented accommodation which has a business energy connection or a communal electricity supply
- Off the mains electricity or gas grid
- In a care home or assisted living facility and you pay for some or all of your care
- In a separate domestic home within a non-domestic property (such as a farmhouse or a flat above a shop)
If you meet the criteria to apply visit the government website and have your email address, phone number and bank account details to hand.
After you apply, your local council will check you live at the address you apply for.
You'll be told about the progress of your application by email or letter. You should get a response within 6 weeks.
If you're eligible, your council will arrange a one-off payment - you do not need to repay this money.
Can I work while on Universal Credit?
The government says that the flagship welfare system has been designed to help people get back into work.
This means you can work as many hours as you want while claiming benefits but it may reduce the amount you get.
This is due to your wages will be subject to the taper rate: for every £1 you earn, your Universal Credit payment will go down 55p.
If you’ve got a job and a child who is dependent on you or you can’t work due to an illness then you might be entitled to a work allowance.
This is the amount you can earn every month before the taper rate kicks in.
If you get help with your housing costs then this will be set at £344, or £573 if you don’t.
If you don’t get a work allowance then all of your salary is subject to the taper rate.
Households are adding an extra £500 million to their energy bills each year by one simple mistake
Households are adding an extra £514 million pounds to their energy bills each year by making one simple mistake.
A study of 2,000 adults found most households (86%) are guilty of leaving an average of eight items on standby at any one time – with TVs, microwaves and washing machines being among the biggest offenders.
This is costing an extra £20 a year, or £513,766,000 across all UK households, which generates more carbon emissions than two million return flights from London to Spain.
Find out more, including the average Brit’s energy use here.
Millions of Universal Credit claimants to get £301 from TOMORROW
Millions of Brits will begin receiving the first instalment of the government’s £900 Cost of Living Payment from tomorrow.
Some 8 million eligible Brits will have the £300 cash payment sent straight to their accounts, no application needed.
The payment will be worth exactly £301, and will be followed by two more instalments – worth £299 and £300 – coming this autumn and Spring 2024.
The payment is designed to help Brits with the soaring cost of living and will ultimately be sent to over 8 million people, but might not arrive straight away tomorrow.
To be eligible you will have to claim one following benefits; Income-based jobseeker’s allowance, Income-related employment and support allowance, Income support, Pension credit, Child tax credit, Working tax credit and Universal Credit.
How much does it cost to take a shower?
Research from Uswitch shows taking a 10-minute shower uses 1.42kWh of electricity, costing someone on a standard variable tariff around 48p a go.
If you did this every day it would cost you £175.20 a year.
That’s based on an 8.5KW electric shower and a unit rate of 34p.
However, this amount may be different if you are on an Economy 7 tariff.
With this, it will be cheaper to shower in the evenings.
Under the current price cap, it will cost you 37p to use an 8.5 kilowatt shower for 10 minutes at night.
But it will cost you 56p on a day rate and using the same power shower head for 10 minutes.
Ben Gallizzi, an energy expert at Uswitch, said: “People on Economy 7 will likely be paying more to shower during the day than those on standard tariffs with rates capped by the energy price guarantee, but night-time costs are lower.
“However, usually people with Economy 7 tariffs will pay their cheaper rates between midnight and 7am — so if you are an early riser, you may benefit from cheaper rates by taking an early morning shower rather than needing to have one in the middle of the night.”
Universal Credit calculators
Trying to work out how much Universal Credit you can get can be overwhelming.
If you need help working out how much you may be entitled to, the good news is there are a number of free calculators that you can use to help make the process easier and provide you with an estimate.
These include:
Cost of Living payment dates
- £301 – First Cost of Living Payment – during Spring 2023
- £150 – 2023 Disability Payment – during Summer 2023
- £300 – Second Cost of Living Payment – during Autumn 2023
- £300 – 2023 Pensioner Payment – during Winter
- £299 – Third Cost of Living Payment – during Spring 2024
What is the national living wage?
The national living wage (NLW) is the obligatory minimum wage paid to workers by their employer.
The exact amount varies for people in different age groups.
The NLW came into effect on April 1 2016 and increased on the same date this year.
Exact code to spot when first part of £900 cost of living direct payment lands in your bank account
The first instalment of the £900 cost of living payment will be paid to millions on Tuesday, April 25.
Anyone getting the payment will be able to spot when it lands as it will come with a special code.
This is because any transaction into or out of your bank account has something to identify where it's from - like a shop name.
And it's no different with the cash from the government.
You'll be able to see when the money has landed in your bank account by looking for the words: DWP COLP along with your National Insurance number.
For example, if your NI number is JT 83 42 97B your payment will show up as "DWP COLP JT 83 42 97B" on your statement.
The first payment is worth £301, with two more instalments - worth £299 and £300 - coming this autumn and Spring 2024.
Full list of 12 benefits being paid early this week
The early May bank holiday will mean that millions of households on Universal Credit and benefits could see their cash hit bank accounts early.
This is because the Department for Work and Pensions (DWP) doesn't make benefit payments on bank holidays - so you won't be paid on May 1.
If your usual payment date falls on May 1, the DWP will instead send out your benefit payments earlier than usual.
So if you're due to receive your payment on May 1, you'll actually get it three days before on April 28 instead.
This counts for the following 12 benefits:
Households using digital tools to battle cost of living crisis
Data from OnePoll.com shows that every generation is embracing digital tools to help navigate the rising cost of living, with three-quarters claiming digital tools have helped them keep tabs on their finances.
And 22% are using financial apps more than a year ago.
But while Gen Z are the most likely to review what is coming in and going out multiple times a day online, a quarter of Gen X – those aged between 43 and 58 – are keeping on top of their finances at least once a day.
While Boomers – those born between 1946 and 1964 – are the most vigilant generation when it comes to ensuring they are getting the best rates available for their savings.
The research was commissioned by Santander to highlight its financial support tools, the Financial Health Check and Budget Calculator.
Tesco increases home delivery fees
Tesco is increasing the minimum amount that customers need to spend to qualify for home delivery without facing an extra charge.
From May 2, the minimum basket value for home delivery will change to £50 - up from its previous level of £40
It is also increasing the basket charge for those who don't meet the minimum spend.
The minimum basket charge will increase to £5 - up from £4.
The minimum basket charge is added to all orders that don’t meet the minimum basket value of £50.
But Tesco is retaining the minimum order value for click and collect which will remain at £25 at all stores.
Credit: Getty
Benefit boost
If you're on certain benefits, you might be eligible for top-ups or what's called a disability premium.
Roughly six million people across the UK receive disability benefits which are exempt from tax.
But you'll need to be receiving one of the following along with PIP to be eligible for top-ups:
- Housing benefit
- Jobseeker's allowance
- Income support
- Working tax credit
- Employment and support allowance
- Pension credit
You should get in touch with the DWP if you're not sure what help you're entitled to.
You may need to send them a copy of your PIP award letter.
When you reach state pension age (66 currently) you may also be entitled to attendance allowance if you also have problematic health conditions.
Millions of Universal Credit claimants to get £301 from TOMORROW
Millions of Brits will begin receiving the first instalment of the government's £900 Cost of Living Payment from tomorrow.
Some 8 million eligible Brits will have the £300 cash payment sent straight to their accounts, no application needed.
The payment will be worth exactly £301, and will be followed by two more instalments - worth £299 and £300 - coming this autumn and Spring 2024.
The payment is designed to help Brits with the soaring cost of living and will ultimately be sent to over 8 million people, but might not arrive straight away tomorrow.
To be eligible you will have to claim one following benefits; Income-based jobseeker’s allowance, Income-related employment and support allowance, Income support, Pension credit, Child tax credit, Working tax credit and Universal Credit.
Cost of living latest news:
How much does it cost to take a shower?
Research from Uswitch shows taking a 10-minute shower uses 1.42kWh of electricity, costing someone on a standard variable tariff around 48p a go.
If you did this every day it would cost you £175.20 a year.
That’s based on an 8.5KW electric shower and a unit rate of 34p.
However, this amount may be different if you are on an Economy 7 tariff.
With this, it will be cheaper to shower in the evenings.
Under the current price cap, it will cost you 37p to use an 8.5 kilowatt shower for 10 minutes at night.
But it will cost you 56p on a day rate and using the same power shower head for 10 minutes.
Ben Gallizzi, an energy expert at Uswitch, said: “People on Economy 7 will likely be paying more to shower during the day than those on standard tariffs with rates capped by the energy price guarantee, but night-time costs are lower.
“However, usually people with Economy 7 tariffs will pay their cheaper rates between midnight and 7am — so if you are an early riser, you may benefit from cheaper rates by taking an early morning shower rather than needing to have one in the middle of the night.”
11 ways to get interest-free or cheap loans if you’re struggling
There is help available for struggling households hit with surprise costs.
A rainy-day savings pot is the ideal way to cover an unexpected hit – but a stash of surplus cash during the cost of living crisis is a tough ask for many.
You should always check you are getting all the help you are entitled to before turning to borrowing.
However, if other options have been exhausted, it’s important to consider the best and cheapest way of taking on debt.
Here we outline some of the options that could be available to you.
- Interest-free loans for food
- Money from your job
- Free overdraft
- Interest-free purchases
- Buy now pay later
- Interest-free credit cards
- Interest-free help with mortgage repayments
- Universal Credit Budgeting Advances
- Budgeting Loans
- Credit union loans
- Interest-free local council loans
Find out more about each of the above loans here.
Get money for your antiques with Vintage Cash Cow
Vintage Cash Cow is a great way to earn some cash by selling your old things.
Here’s how to get started:
- Box it: While you wait for your postage pack, examine every corner of your home for unloved treasures. Place everything in a suitable box ready to go.
- Send it: Check the weight of your box is no more than 30kg using your bathroom scales. Then seal it and attached your free postage label and drop off at your nearest Post Office or arrange a home collection.
- Sell it: An expert valuer will review your box contents and will call you with a fair price for everything within three working days.
You can accept the offer and receive the money within 24 hours, or decline the offer and have your items safely returned for free.
Where to get debt help
If you are feeling overwhelmed by money or debt, it’s important to get free and independent help.
We’ve previously looked at all the places you can get debt help for free, including Citizens Advice, StepChange and National Debtline.
Don’t take money from loan sharks, and try not to resort to very expensive debt, such as doorstep lending.
If you are in arrears with any payments, don’t shy away from speaking to the company – it should help you work out a manageable payment plan to get you back on track.
You might be able to apply for Breathing Space, a scheme which pauses interest charges for a certain period and stops you from being hassled for payment.
A benefits calculator can help you work if you might be entitled to extra cash.
A number of energy firms also offer hardship grants to people who are in arrears with their bills.
You should also check whether you’re eligible for grants or extra help, such as from the Household Support Fund or your local council.
How do you log in to Universal Credit?
Universal Credit claimants can see their online account by logging in via the gov.uk website.
You’ll need your username and password – which are the same ones you had to set up when you first applied for benefits.
If you have forgotten your login details, you can put in a request to reset your username or password by entering your email address.
If you have an online Universal Credit account, you can also sign in via gov.uk verify.
In a worse case scenario, you can always try calling the Universal Credit helpline on 0800 328 5644 (Textphone: 0800 328 1344).
You can also get in contact via NGT text relay on 18001 then 0800 328 5644.
There’s a Welsh language helpline available on 0800 328 1744 too.
Haggling on the rise due to cost of living crisis
23% of Brits are haggling more than they did before the cost of living crisis began, according to data from OnePoll.com.
Items like clothes and car insurance are among the top items people are bartering more for, while one respondent even claimed they’re negotiating the price of entry to nightclubs now.
When it comes to eating out, those in London were 32% more likely to negotiate prices than those in the North East, who were the least likely to.
Can I appeal a sanction?
If you think you've been sanctioned unfairly you can contact the DWP and ask for a "mandatory reconsideration".
You have one month from when you were notified about the sanction to do so.
If you've been sanctioned unfairly, the first thing you must do is check the level of sanction and for how long your money has been reduced.
You'll then need to contact the DWP for a mandatory reconsideration if you think they've made the wrong decision.
Citizens Advice says you should have been told:
- Why you’ve received a sanction
- The level of sanction you’ve been given
- How long the sanction will last
- How much money will be taken away from your Universal Credit payment
- The date the sanction decision was made
Find out more here.
https://news.google.com/rss/articles/CBMiSmh0dHBzOi8vd3d3LnRoZXN1bi5jby51ay9tb25leS8yMjE0MjMyNy9jb3N0LW9mLWxpdmluZy1kd3AtcGF5bWVudC1sYXRlc3Qv0gFOaHR0cHM6Ly93d3cudGhlc3VuLmNvLnVrL21vbmV5LzIyMTQyMzI3L2Nvc3Qtb2YtbGl2aW5nLWR3cC1wYXltZW50LWxhdGVzdC9hbXAv?oc=5
2023-04-24 21:00:00Z
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