Cost of Living payment — Martin Lewis sends urgent warning to ALL mobile phone users; plus money saving tips
THE Martin Lewis Money Show returned to our screens this week and the savings expert sent a warning to ALL mobile phone users.
The UK's resident MoneySavingExpert was back on our screens on Tuesday with the best ways for families to save cash as the cost of living continues to soar.
During the show he urged mobile phone customers to check if their contracts have termination fees ahead of anticipated "14 per cent" price rise this spring.
If you don't have termination fees or you're out of contract then you should ask for your PAC code, which you can give to your new provider in order to keep your current mobile number.
The expert went on to explain that once customers ask for this they could "use this as a way to haggle with your existing provider" to potentially save hundreds of pounds per year.
Read our Cost of Living blog for the latest news and updates.
Where to find the UK's cheapest petrol and diesel
The best way to find the cheapest petrol and diesel in your area is to use price comparison sites.
Websites like Petrolprices.com show you where you can fuel up for cheap in your area.
Register on the site and you'll need to give information such as your postcode, how far you're willing to travel and what type of fuel you need.
Martin Lewis asks followers ‘should everyone’s tax returns/payments be public?’
Money saving expert Martin Lewis has today asked followers if they believe everyone’s tax returns/payments should be made public.
His questioning comes after the majority voted that all MPs tax returns should be public yesterday.
Now the savvy saver wants to know if this should apply to the entire population.
You can share your thoughts by answering the poll below.
Shoppers rush to Aldi to grab discounted toddler and baby essentials
Savvy saving mums have rushed to social media to share all the latest discounted baby and toddler essentials up for grabs in Aldi.
Clxire Rxbson was one of many thrilled shoppers who took to Facebook group Extreme Couponing and Bargains UK to show off her incredible haul, following her most recent trip to the supermarket.
Alongside a showcasing her best budget buys, which includes a toy kitchen for £20 and a travel cot for just £29.99, she penned: "Aldi. A few kids' sale items, could be worth keeping for birthdays."
She also shared photos of some of the other bargains on offer such as the Little Town Grey Wooden Toy kitchen for £19.99, and the Nuby Activity Table which has been reduced from £29.99 to £19.99.
Read more here.
A pony centre in Devon closes amid cost of living crisis
The Dartmoor Pony Centre in Devon forced its doors shut as it has been facing turbulent times, reaching its peak of troubles during the cost of living crisis.
The owners said: “It is with the greatest regret I must inform you that the Miniature Pony Centre will be permanently closing its doors.
“Following a turbulent few years, Covid and post-Covid seasons have proved problematic. By the end of 2022, the nation went into a cost of living crisis.
“With 2023 looking no better, costs rising at an alarming rate and says days out with the family becoming a luxury that people cannot afford, it is with great sorrow that we have no choice but to shut our doors forever.
“We will ensure that all the animals go to the best, most loving homes.”
The exact settings to use on appliances to save up to £372 a year
As the cost of living crisis continues, millions of households are looking for ways to slash energy costs and save some much needed cash.
One way to do this is by tweaking the settings on appliances.
Making some simple tweaks to the way that you use your dishwasher, boiler, washing machine and dryer could help slash your bills by up to £372 a year.
- Dishwasher - an eco wash or energy saving setting generally uses around 20% to 40% less energy, according to Which?
- Boiler - if households were to drop the temperature to 60°C they could slash their gas consumption by 9%
- Washing machine - households that use the eco mode instead of a normal cycle can save £37 a year
- Tumble Dryer - households that opt for the eco or low heat setting can slash their energy bill by £53 a year according to Uswitch
Find out more here.
Free debt advice
If you’re in debt there are plenty of services you can take advantage of and they offer free advice on how to manage debt.
Most of them can offer you free guidance and help in person, over the telephone or online.
- – 0800 138 7777
- – 0808 800 9060
- – 0800 138 1111
- – 0808 808 4000
Passport fees set to rise this week
As part of a slew of government changes, the cost of a British passport is set to increase later this week.
From the start of February, passport renewal fees will go up by 9%.
Getting new passports for children will also increase from £49 to £53.50.
When will Brits receive first chunk of £900 cost of living payment?
From spring this year, the first chunk of the will be paid directly into claimants’ accounts.
Unlike last year’s help, this cost of living payment will be paid in three, not two, instalments.
More than eight million people will get the help direct to their bank accounts, and the £900 help will be paid over the financial year.
This is so hard-up households will get a “consistent support offering throughout the year”, the DWP said.
Are house prices expected to fall this year?
Director of property science at Rightmove, Tim Bannister, said house prices could go up towards the end of the year.
He said: "We expect that the full effect of affordability constraints and last year’s mortgage rate rises will hold back some segments of the market in the first half of the year.
"But our leading market indicators may start to identify some green shoots of growth that will go on to strengthen in the second half of 2023."
However, Nick Morrey from Coreco Mortgages, said house prices could drop.
"Given prices have risen 20% or more since the first coronavirus lockdown, a correction was always on the cards.
"Current predictions are for a reduction in prices of around 10% but that would only put prices back to where they were in around January last year.
"Plus, despite the cost of living crisis we are seeing plenty of enquiries for purchases and properties for sale are still in short supply in many areas."
Rent to buy scheme could save you money
The Rent to Buy scheme is where tenants can pay up to 20% below market rent in order to save for a deposit.
The scheme is only available in England and is there to support those looking to get on the property ladder.
To be eligible, you must:
- have a job
- be a first-time buyer
- be able to pay rent and save for a deposit simultaneously
However, you can only apply for properties in the scheme - which excludes anywhere in London.
You can view these properties on different letting agent websites or simply call them up for more information.
The initial tenancy agreement will last for two years, but it may be possible to extend it.
You'll be able to buy your home as soon as you have enough to secure a mortgage.
How to reduce your petrol usage and save money
are encouraging drivers to develop a smooth driving technique which could reduce their petrol usage and save them more money.
They said: “Developing a smooth driving technique is a great way to save on fuel.
“If you’re approaching traffic lights, for example, slow down early so that they may have changed by the time you reach them, meaning you might not need to stop at all.
“Anticipate the road in front of you and ease off the throttle and maintain momentum rather than braking hard and then accelerating again.
“Change up and down multiple gears at a time and change to the highest suitable gear as soon as you can to avoid over-revving.”
Asda applies new feature to its Rewards app
Asda is giving its shoppers more time to spend the vouchers created on the Reward app.
Customers will now have three months rather than one, giving the opportunity to those who like to build up their Cashpots more time to save up more vouchers.
The supermarket reminded its shoppers that any cashpots created will be available to turn into vouchers for six months before they vanish.
A pony centre in Devon closes amid cost of living crisis
The Dartmoor Pony Centre in Devon forced its doors shut as it has been facing turbulent times, reaching its peak of troubles during the cost of living crisis.
The owners said: “It is with the greatest regret I must inform you that the Miniature Pony Centre will be permanently closing its doors.
“Following a turbulent few years, Covid and post-Covid seasons have proved problematic. By the end of 2022, the nation went into a cost of living crisis.
“With 2023 looking no better, costs rising at an alarming rate and says days out with the family becoming a luxury that people cannot afford, it is with great sorrow that we have no choice but to shut our doors forever.
“We will ensure that all the animals go to the best, most loving homes.”
Households in Orkney can cash in £200
Around 8,550 households in Orkney, Scotland, are eligible to earn £200 as part of an agreement made by councillors in December, funded by the Strategic Reserve Fund.
Households on benefits, those struggling with the costs of living or those who have received no help at all throughout the crisis are eligible for the cash.
To make sure that you’re eligible and apply for the cash, set up a MyOrkney account and complete an online form on www.orkney.gov.uk/col.
Water bills are rising
Last year, Water UK announced that bills are set to rise from February 4, however, they haven’t issued any other confirmation since then.
The rise will differ depending on where you live since various areas across the country have a water company assigned to them.
Here we tell you by how much your water bill may rise depending on where you live.
This year’s energy price cap announcement
On Monday, February 27, 2023, regulator Ofgem will announce its new energy price cap that shall last from April to June.
Ofgem boss Jonathan Brearley said that the cap might fall below £3,000.
This won’t save households a huge amount considering that they had to pay way less under the Government’s price guarantee.
What is child benefit?
If you’re a parent living in the UK and you’re responsible for a child who’s under 16, you can claim child benefit.
This benefit is aimed to help you with the costs that come with raising children.
With it, you also get National Insurance Credits that count towards your state pension.
Parents claim £21.80 a week for their first child and then £14.45 is added for any extra child they’ll have.
Payments are usually made every four weeks.
How to get £300 to spend at the supermarket
Councils across the UK are offering supermarket vouchers through the Household Support Fund.
There are 26 councils across the UK, offering cash amounts that vary from £30 to £300 and are aimed at helping hard-up homes tackle the cost of living crisis.
Every council has a different eligibility criteria, so we recommend checking their website or contacting them directly to find out more.
Here, you can find the 26 local councils offering cash to help you put food on the table.
What help is there for people on Universal Credit?
There's plenty of extra help on offer if you're on Universal Credit.
The Department for Work and Pensions has announced millions will get a £900 cost of living payment over the next two years, including those on Universal Credit.
The payment is going to be split into three instalments.
You don't have to apply for the payments as they will be made automatically into bank accounts.
There's a host of freebies you can get if you receive Universal Credit as well.
This includes free or cheap broadband, through so-called social tariffs.
Plus, you can get free school meals, a discount on your council tax, cold weather payments and help with rent.
For the full list, you can read our guide here.
Who will be impacted by the change?
Every person has their own unique earnings threshold depending on their circumstances.
But, as a rough example, before, if you were single, employed and had household earnings of more than £494 per month you were not expected to look for or be available for work.
This was £782 per month joint income if you are part of a couple.
But these figures were up to £617 and £988 respectively from today.
If you earn under these amounts you will have to look for or be available for work.
But there are some exceptions, for example if you have a joint Universal Credit claim and your partner is not expected to work because they have a Limited Capability for Work.
Another exception is if you are over the state pension age, which is currently 66.
The rules can be complicated so it's worth talking to your work coach who can help guide you on the change.
Charities like Turn2Us are useful for advice too. You can call them for free on 0808 802 2000.
New rule change
Previously, households on Universal Credit had to earn the equivalent of 12 hours' pay a week, at the National Living Wage, to not have to meet certain requirements.
These included having to look for more work or preparing for more work.
But from today, the 12 hour threshold has increased to 15 meaning those that don't meet the new rule could be sanctioned - when payments are temporarily stopped or reduced for a set period.
Tips for managing your money and mental health in 2023
As a result of the cost of living crisis, many people are facing both financial and mental health pressures.
If you don’t look after your money, it can be hard to look after your mind.
According to there are a number useful tips to help you manage your mental health and money in 2023.
Here’s a look at just some of the tips that can help ease your budget and mind.
- Work out your monthly expenses
- Set your budget for the year ahead
- Regularly check your budget and expenses
- Prioritise debt and apply for a ‘breathing space’ if you need it
- Try and save for emergencies
- Keep track of all your subscriptions
- Ask for help if you’re worried
Nandos set for second price hike in just a year
The cost of getting a cheeky Nandos is set to rise again, .
Chain bosses have said the price hikes are due to a rise in costs, such as of ingredients and running restaurants.
Among the products set to become more expensive are the Half-Chicken and Full-Chicken.
Every benefit set to rise with inflation this year
From April, a number of benefits will rise in line with the consumer price index (CPI) level of inflation in September 2022.
The rate benefits will rise by is 10.1 per cent.
Here are all the benefits set to rise this April:
- Personal independence payment (PIP)
- Disability living allowance
- Attendance allowance
- Incapacity benefit
- Severe disablement allowance
- Industrial injuries benefit
- Carer’s allowance
- Additional state pension
- Guardian’s allowance
- Universal Credit
- Child benefit
- Contributory employment and support allowance
- Contributory jobseeker’s allowance
- Statutory maternity/paternity pay and maternity allowance
- Income-based jobseeker’s allowance (JSA)
- Income-related employment and support allowance (ESA)
- Income support
- Working tax credit
- Child tax credit
Key cost of living dates you need to know this year
The government and DWP are set to provide hard-up Brits with a series of cost-of-living payments this year.
Here are some of the key dates:
- First cost of living payment – during Spring 2023 - worth £301
- Disability payment – during Summer 2023 - worth £150
- Second cost of living payment – during Autumn 2023 - worth £300
- Pensioner payment – during Winter 2023/4 - worth £300
- Third cost of living payment – during Spring 2024 - worth £299