THOUSANDS of Brits could be paid Universal Credit and benefits EARLY this week due to the New Year, with thousands to receive cash tomorrow.
But not everyone will get their payments early – it depends on the date you usually get paid – so you’re advised to make your money last as the cost of living crisis continues.
If you usually get paid on the second, you’ll receive your payment on December 30, 2022, as January 2, 2023 is a bank holiday.
Universal Credit and benefits payments due on January 3 will receive them on time unless you live in Scotland where you’ll also get them on December 30.
You’ll be eligible for Friday payment if you receive one of 12 benefits, including Jobseeker’s Allowance, Pension Credit, Personal Independence Payment, State Pension, Tax Credits (such as Working Tax Credit) and Universal Credit
Read our Cost of Living live blog below for the latest updates….
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The new year will be branded as ‘The Groundhog Year’
Families will struggle even more as 2023 is branded the “Groundhog year” of high taxes, energy bills and mortgages.
Chief Executive of the Resolution Foundation, Torsten Bell said: “From a cost-of-living perspective, 2022 was a truly horrendous year – far worse than any year in the pandemic or financial crisis.
“2023 should see the back of double-digit inflation, but it looks set to be a groundhog year for many families whose incomes look set to fall by just as much as they did in 2022.
“For families’ living standards, things will get far worse in 2023 before they start to get better.”
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How much does it cost to run an air fryer?
The cost of running an air fryer isn’t the same for everyone as it depends on the tariff you pay and how large and efficient your appliance is.
To work out the cost of using any appliance, you need to calculate the following equation: power (kilowatt) x cost of one kWh (pence) x the length of time (of one meal or over a week or month).
Uswitch told The Sun that if you use a 900-watt air fryer for 20 minutes, it would cost about 10p per meal.
It was calculated with the energy costing 28p under the new price cap.
Using an air fryer can prove to be cheaperCredit: Getty -
Brits rushing to buy low-cost run appliances amid cost of living crisis
Currys reported that they are selling between 18,000 to 20,000 air fryers a week as buyers are rushing to purchase them since they cost less than an oven to run.
Meanwhile, Argos said that sales of air fryers have gone up by 420%.
Microwaves are also very high in demand as families are looking to use their ovens less and less to save on energy bills.
The sales of the appliance have gone up by 70% compared to last year.
Brits are being encouraged to do their best to cut low on energy as the price of gas has soared since Russia’s invasion on Ukraine.
Brits can do anything from closing windows and doors and curtains to keep heat in the room to changing the thermostat’s temperature to reduce the amount of energy consumed.
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Supermarket changes coming in 2023 (5/5)
Asda will end its Blue Discount scheme in March after it was due to end on New Year’s Eve 11:45pm.
The supermarket extended the scheme that will see shoppers have the final opportunity to shop with a 10% discount.
The scheme is open to NHS workers, police officers, those in the army, charities, fire workers and social workers.
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Supermarket changes coming in 2023 (4/5)
Another change Tesco are making is closing its Clubcard app which will be replaced by a Grocery & Clubcard app.
This revamp will see customers get personalised vouchers every two weeks rather than offers eight times a year.
The coupons will be selected based on the products your buy and include bonus points with instant discounts to use both in-store and online.
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Supermarket changes coming in 2023 (3/5)
Morrisons will change more of their labels on certain food items such as berries, grapes and stone fruit to prevent food waste.
The supermarket chain already removed date labels to encourage shoppers to use their own judgement and realise when food has gone off.
A code system has been put into place to help workers ensure that they keep the freshest products on shelves.
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Supermarket changes coming in 2023 (2/5)
Tesco uses yellow stickers on items which are nearing their use-by date and places them at a discounted price which sometimes can go up to 80%.
Many shoppers have gone crazy for such products which cost so little and help to avoid food wastage too.
These items will now be rebranded and they’ll be called: “Reduced in price. Just as nice.”
A sign will be placed above so shoppers can easily spot the deals.
The change can already be noticed in some shops across the UK, however, it will now be rolled out to even more over 2023.
The yellow sticker discounted items at Tesco will be rebranded to “Reduced in price. Just as nice.”Credit: PA -
Supermarket changes coming in 2023 (1/5)
Supermarkets are also making changes in the new year.
Here we’ll keep you updated with any major changes that shoppers will notice while getting their routine groceries.
Let’s start with Co-op and Marks and Spencer who’ll remove the frozen or reduced prices on a number of products.
The shopping chains put hundred of items at a lower cost in November to help people out with the cost of living crisis.
Both supermarkets will remove these prices as of January 2023, however, they haven’t confirmed whether they will become more expensive or not after.
The Sun contacted both supermarkets and will update you as soon as we receive more information.
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The change to energy bills taking place from January 1
Most energy suppliers are hiking bills for some households as of January 1 while others may charge their customers less.
The changes make part of the government’s energy price guarantee which sees the average bill come at £2,500 a year.
However, regulator Ofgem sets the price cap on what suppliers can charge and that is why there may be a slight difference after the next update on January 1.
Find out more about whether your energy supplier will be charging you more or less here.
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The motoring tax raise coming in 2023
Jeremy Hunt snuck in a rise in the motoring tax in his Autumn Statement which will see van drivers fork out an extra £72 a year.
For those how pay tax at a higher rate, they’ll have to pay £144 extra instead.
This tax applies to those tradespeople that use their company vans for personal use.
According to Auto Trader, 62% of van drivers were unaware that such a rise was being implemented.
An Auto Trader spokesman said: “Our findings show that the new fresh tax raid coming their way in April will be a complete shock to most van drivers, adding to the heavy burden that they’ve already faced this year.”
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Cost of living crisis causes insurance premiums to rise
The cost of living crisis has seen many families struggle to afford their energy bills, TV broadband and other daily expenses.
The rise in the inflation rate also meant that insurance premiums – another necessity – have also risen in price.
Comparison website Comparethemarket took a look at how much prices have risen in a year from November 2021 to 2022.
This year in November, the average cost of car insurance is at £629, resulting in a £76 increase from November 2021, when it was £553.
Meanwhile, home insurance premiums rose by £17 to £151 compared to November 2021 when it was £134.
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Save money with these free TV streaming services
Paying monthly for Netflix could end up costing you hundreds every year.
You might be trying to find ways to cut costs on your streaming services while still enjoying your favourite shows.
There are other options which you can explore to save on TV streaming with these free apps available.
Some of the best FREE TV streaming services out there are:
- Amazon Freevee
- Pluto TV
- UKTV Play
- ITVX
These apps include some live channels and some of your favourite shows.
Find out more about them here.
Netflix is not the only place where you can find some great shows to watch -
Cheers to the new year with Wetherspoons’ reduced prices
The popular pub chain, Wetherspoons, is set to reduce the price of some items on its menu, including that of beer.
Pubs across England and Wales will see prices cut between January 3 and January 17, 2023.
Meanwhile, in Scotland, prices will be reduced between January 4 and January 17.
Prices for drinks will be starting at just 99p and customers can get various beers such as Carlsberg, Bud Light, Guinness and Stowford Press Dark Berry Cider for slashed prices.
Prices on whisky, gin, rum and vodka will also be reduced.
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This thermostat change can slash your bills by £470 in 2023
Boiler expert Harland Guscott spoke with The Sun about how some thermostat tweaks can help you slash your bills by £470 in 2023.
Some of his recommendations were:
- Make sure the temperature is correct, the lower it is, the less you pay
- Timer settings may be misleading since each house is different, so try various methods to see which work best
- Install a room thermostat that will turn your boiler off when the desired temperature is reached
- Upgrade to a smart control thermostat to control the temperate from your smartphone, tablet or computer
- Try to turn your thermostat down where possible.
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How a smart meter can help you save money
Smart meters are gas and electricity meters which digitally send readings to your energy supplier and show how much energy you are using in pounds and pence.
They can be used as indicators of where you waste lots of energy and hence, money and so help you to think of new ways to cut down on your energy bills.
Smart meters can be installed without any extra charge.
They help you track how much energy you use at peak times during the day and the night, helping you understand which areas you can cut back on.
The government’s smart energy website explains: “A smart meter can help us to identify situations where we’re using a lot of energy and might want to make changes to this.
“If you use the information shown on your in-home display to reduce your energy use, you could cut costs and become more energy efficient.”
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Will house prices go down in 2023?
The Sun spoke with Nicholas Mendes from broker firm John Charcol to find out what will happen to house prices in 2023.
He admitted that they are about to take a dip with mortgage rate uncertainties, which makes people even more unwilling to sell or buy.
Mr Mendes said: “With sellers now looking for a quick sale, while property prices are expected to reduce in the months ahead, there seems to be going confidence that buyers can now negotiate with the seller to get a better deal.
“This is rather than meeting the asking price, or miss losing out to other buyers, as has been the case.
“The uncertainty will naturally be at the forefront of people’s minds and, as a result, we will not see the same level of properties coming on to the market.”
He explained how the UK’s slow entry into recession is not urging first-time buyers to enter the market and seal the deal.
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Watch what appliances you’re using to save more money
Heidi Ondrak didn’t just stop at cash-stuffing with her tips.
She also recommended auditing appliances to see how much each cost to run and where you can save.
Heidi explained: “Audit the appliances in your home so you know what is using a lot of energy.
“Plan cooking meals around cheaper appliances and if you can’t afford air fryers and slow cookers, look on Gumtree and Facebook Marketplace for good preloved ones.
“Find free things to do with the kids, get outside more and enjoy parks and green spaces on your doorstep, and go to museums and art galleries that are free and warm with the kids.”
Using an air fryer to cook your meals can prove to be cheaperCredit: Getty -
Cash-stuffing the virtual way
Heidi Ondrak, known on her Tiktok as the Duchess of Thrift, revealed how she is virtually cash-stuffing and avoiding overspending.
She said how her wages go into her current account where all her direct debits come out from, but then she also has a Monzo account to help her budget.
The mum-of-two explained: “I also have a free Monzo account and the reason I have this is you hear people doing something called cash-stuffing.
“They take their money out, put it in envelopes, and budget, they just have the cash for what they use.”
Since most places do not accept cash anymore, Heidi cash-stuffs her money in different pots on her Monzo account and makes sure to never overspend.
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Martin Lewis’ 1p challenge that will help you save hundreds in 2023
Martin Lewis explained a 1p challenge on his MoneySavingExpert website that will help you save hundreds in 2023.
On January 1, start by saving up 1p and then the amount you save a day will increase by a penny.
So on January 2, you save 2p, and then on January 3, 3p, and so on.
The highest amount you’ll have to put away in a year is £3.65 on December 31.
By the end of the year, you would have saved £667.95.
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Budgeting guru Francesca Henry shows you how to save £500 by Christmas 2023
The New Year gives us another opportunity to start a fresh – and that also includes your financial situation.
Mum-of-one Francesca Henry shared her three easy steps to save around £500 by Christmas in 2023.
First, she recommends downloading a round-up app to round your change and if you save £10 a week through that, you’ll have £500 by Christmas.
She also recommended using cashback sites as they can give you so much more from what you purchase.
And secondly, she recommended cutting back on subscriptions, especially since you probably don’t need most of them.
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Benefits rising in 2023 in line with inflation
From April 2023, benefits will rise by 10.1% in line with the consumer price index (CPI) level of inflation last recorded in September 2022.
This benefit includes those on Universal Credit, so if you’re single and under 25, you will start earning £292.11 from April rather than £265.31.
The payments will increase automatically and you don’t have to fill in any paper work to receive the rise.
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The new benefit Scottish households will get
The Cold Weather Payment that Scottish households receive to help pay fuel costs over the winter will change from February 2023.
It will become the Low Income Winter Heating Assistance (LIWHA) and will be eligible to those who receive the benefits that qualify for the Cold Weather Payment.
It is aimed to help those low-income households to get through the winter and will be worth £50 annually.
Scotland’s Cold Weather Payment will be changed to Low Income Winter Heating AssistanceCredit: Getty -
Changes to work and Universal Credit coming in 2023
From January, the rules about looking and preparing for work as part of receiving Universal Credit will change.
Around 120,000 claimants will be impacted as the work-related activities a claimant has to do to get Universal Credit will change.
The threshold is currently set at 12 hours of work per week.
But now, those who earn over 15 hours per week at the National Living Wage but less than full-time hours will have to look for more or better-paid work to get the full entitlement.
Each claimant is assigned to one of six “conditionality regimes” based on what they can work in and you can find which group you’re in by checking your Universal Credit account online.
This will also show how you’ll be impacted in January.
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How to get the best advice to tackle your debt
A new year is upon us very soon and you’d want to start fresh, even when it comes to your finances.
You may have some debt hanging over you, and we advise that you put this as your priority when you budget for 2023.
As Jonathan Chesterman of Stepchange said: “Try to meet the minimum payment on every debt you have each month, to avoid default charges and the effect on your credit rating.
“After that, you should pay most towards the highest-cost borrowing – that’s the debt on which you’ll have to pay most interest and charges.
“If you don’t have enough to cover all this, that’s a clear indicator that you could benefit from debt advice.”
To get advice and have someone help you set up a repayment plan, we recommend contacting one of these organisations: Citizens Advice, Stepchange or National Debtline.
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Apply for voucher worth up to £140 to help pay your bills
Households will soon be able to apply for a number of vouchers which are worth up to £140.
The Household Support Fund made £421million available to households in Leicestershire to help with the cost of living crisis.
Applications for those referred to the fund will open on January 3, 2023.
You can get referred by schools, food banks, your local GP, local charities or voluntary organisations.
The vouchers can be used for food or fuel.
With food vouchers, you can get the following for a maximum of two weeks:
- Households with children: £20 per adult per week, and £15 per child per week
- Single households: £25 per week
- Multiple adult households: £20 per adult per week
