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New £301 cost-of-living payment this spring

This is the first of three cost-of-living payments over the year

Many of us will be in line for some extra cash this spring in the form of a new cost-of-living payment.

The money will total £900 from three payments over the course of the year. Those of us on certain benefits will get the cash automatically.

If we’re on Universal Credit, Pension Credit or tax credits we’ll be eligible.

The money will start dropping into our accounts between 25 April and 17 May. The first cost-of-living payment will be for £301.

There will also be an extra £150 for those of us with disabilities. This will be paid in summer 2023.

We need to have been claiming the benefits between 26 January and 25 February 2023 in order to qualify for this first payment.

The energy price guarantee was due to go up again from 1 April. But now it will stay at the same level for the next three months, meaning the bill for a typical home will remain at £2,500 a year.

But remember, it’s just a figure for a typical household bill and is NOT a cap on bills. The more energy we use, the more we’ll pay.

We can check out all the tips for cutting back on energy use on the Quids in! website.

Image: Andrea Piacquadio / Pexels

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