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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.

We don’t know yet when the money will start dropping into our accounts. But we do know that the first cost-of-living payment will come in spring and be for £301.

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

The government hasn’t yet said what dates we need to have been claiming the benefits in order to qualify.

They’ll reveal those dates once they’ve passed in a bid to cut down on fraud.

The energy price guarantee was due to go up again from 1 April. But now it’s expected to stay at the same level, 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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