There's loads of changes to your money coming from November.
Millions of Brits must make note of eight major changes which are due to happen from next month. It includes subscription service price hikes to new cost of living payments worth up to £600.
Also a second cost of living payment worth £300 is set to hit bank accounts in autumn. But those on specific benefits might have to wait longer for help.
READ MORE: 'I had just £1 in my account and woke up with £122,000 – the bank let me keep it'
You can read more lifestyle stories from Daily Star here.
Here's everything you need to know about the changes coming up in November.
1. Disney+ price hike – November 1
On the first day of the month, Disney+ is set to launch two new subscription tiers. Among them is a costly alternative which will increase bills by £3 a month.
The new plan will be called Disney+ premium and will increase from £7.99 to £10.99 a month. There will also be an ad-free Disney+ standard tier for £7.99 a month and an ad-based tier priced at £4.99.
All new customers will pay the following rates if they sign up for the streaming service from November 1. Existing customers will be automatically switched over to the premium tier.
If they want to switch to a cheaper plan, this will need to be done before December 6 to avoid paying the higher price.
2. Cold weather payments – November 1
Households across the country can get £25 a week in support when temperatures drop. Those eligible get £25 for each seven-day period of incredibly cold weather between November 1 and March 31.
But people on certain benefits, including Pension Credit, can get the free cash. The temperature must hit zero degrees or below for seven consecutive days for the sum to be paid out.
You are eligible for the cold weather payment scheme if you receive of one of the following benefits and meet the criteria:
- Pension credit
- Income support
- Income-based jobseeker's allowance
- Income-related employment and support allowance
- Universal Credit
- Support for mortgage interest
3. Winter fuel payment – November 1
Millions of Brits are set to receive a Winter Fuel Payment worth up to £600 from this week. If you were born before September 25, 1957, you could see the tax-free cash hit your bank account next month.
It's usually worth between £100 and £300 for those over state pension age. But payments are being boosted by a further £300 through the "pensioner cost of living payment".
4. Interest rate changes – November 2
The Bank of England is due to announce any further changes to interest rates on November 2. Experts reckon it would avoid another interest rate rise after almost two years of consecutive hikes.
As inflation remained unchanged in September, it could mean the base rate, which influences the interest people pay on their mortgages, doesn't need to climb as high as previously feared.
-
HMRC warns Brits have less than 100 days before tax deadline or they risk fine
5. Cost of living payment – November 10
Brits on certain benefits, including Universal Credit, will begin receiving £300 in the cost of living payment on October 31. But households on tax credits won't begin to receive the payment until November 10.
It will be paid by HMRC instead of the DWP between November 10 and 19. This is to ensure that those on other benefits and tax credits will not get the payment twice.
6. Inflation – November 15
Office for National Statistics (ONS) will release UK's October rate of inflation on November 15. It remained at 6.7% in September.
7. Autumn Statement – November 22
Chancellor Jeremy Hunt will announce his Autumn Statement on November 22 in an annual update. He aims to reveal the government's plan for the economy.
8. Energy price cap review – November 23
The energy price cap limits the amount an energy company can charge you for a default tariff, based on average use. It is reviewed by the regulator Ofgem every three months and is adjusted to reflect the wholesale cost of energy.
The next adjustment is to be announced on November 23 and will come into effect on January 1. The cap limits the unit price of gas and electricity suppliers can charge.
Want all the biggest Lifestyle news straight to your inbox? Sign up for our free Daily Star Hot Topics newsletter
Source: Read Full Article