Nine money changes in December including cost of living cash

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Nine money changes in December including cost of living cash
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There are many things to look out for

The weather is decidedly chilly and even the hardiest among us are now turning on the heating. With rising energy costs, the much talked about cost of living crisis, combined with the upcoming festive season, a squeeze on most people's budgets is imminent. So, with money a concern, you’ll want to stay on top of all the financial changes that are to come.

Wednesday, December 14 - ONS latest inflation figures The Office for National Statistics will release the inflation rate for the 12 months to November on Wednesday, December 14. Consumer Price Index inflation is currently at 11.1% - largely because of rising food and energy costs. Inflation is a figure used to explain how much the prices of everyday essentials have increased.

This benefit also unlocks extra help including council tax discounts, housing benefit, free health costs and a free TV Licence for the over 75s. You can find out of you’re eligible on the Gov.uk website. Monday, December 26 - Boxing Day sales The Boxing Day sales officially start on Monday, December 26 - although online sales can often begin earlier. This can be a great time to stock up on discounted presents for next year. You may also find cut-price seasonal goods to put away for 2023, such as reduced Christmas trees and decorations.

Then there is also a bank holiday on Monday, January 2, which is a replacement bank holiday for New Year's Day, which is on a Sunday. If you'd normally expect a benefit payment on this day, you'll likely be paid on Friday, December 30 instead. Direct debit customers get the discount automatically - either as a deduction to your monthly direct debit, or as a refund to your bank account. If you pay on receipt of your bill, the discount is applied as credit to your energy account each month. Smart prepayment meter customers also get the discount automatically each month. However, if you're a prepay customer, you will be sent discount vouchers by text, email or post - you'll then need to manually redeem these.

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