MARTIN Lewis has predicted when the next £300 cost of living payment will land in bank accounts, giving households a cash boost.
As the cost of living continues remains stubbornly high, it's vital that households get all the support they are entitled to.
The first instalment of the cost of living payment, worth £301, was made directly into bank accounts between April 25 and May 17.
Meanwhile, one million households on tax credits received the first part of the cost of living payment from May 2.
The support also includes a further £300 payment for eligible families in autumn, and then a payment of £299 in spring 2024.
MoneySavingExpert (MSE) founder Martin Lewis has predicted that the £300 payment will be made in October and November, meaning it could be just weeks away.
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While Martin made the prediction in a tweet in January, MoneySavingExpert has confirmed it still stands today.
The Department for Work and Pensions (DWP) is also yet to confirm an exact date.
The full list of benefits that qualify people for the payments is:
- Universal Credit
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
- Income Support
- Working Tax Credit
- Child Tax Credit
- Pension credit
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If you were receiving any of the above benefits between January 26 and February 25 this year, you received the first £301 payment.
If you were later found to be entitled to any of the above benefits between these qualifying dates you are eligible for the payment too.
Check if you are entitled to benefits
A number of charities have benefits calculators that you can use to work out if you are entitled to any extra help.
This includes:
- Turn2Us
- Policy in Practice
- EntitledTo
It's worth looking into as if you do qualify, it could make you eligible for the £900 cost of living payment too.
Before you do use such a tool, you should make sure you have all the relevant paperwork to hand, including bank statements and any information on pensions and existing benefits.
You'll also have to give information about yourself, including your age and who you live with.
Remember though, the tools only give you an indication of what benefits you might be entitled to.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.
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