The Martin Lewis Money Show LIVE — Expert returns with cash-saving tips to help Brits through Cost of Living crisis | The Sun

MARTIN Lewis returns for his final Money Show of the year and he'll be chatting to benefits and tax experts amid the Cost of Living crisis.

The MoneySavingExpert's ITV show at 8pm this evening comes just a week after the Chancellor announced a new economic package to help those on low incomes and benefits.

This means millions on means-tested benefits will receive a £900 payment, pensioners will get £300 and those with disabilities £150.

If you're eligible for all three payments, that could mean a total handout of £1,350.

It comes after Lewis recently shared a raft of tips on keeping warm during the Cost of Living crisis – without actually turning your heating on.

Read our Martin Lewis Money Show blog below for the latest advice…

  • Louis Allwood

    Martin Lewis gives his prediction

    Martin Lewis has predicted when the new one-off £900 cost of living payment could land in accounts next year.

    The extra cash was announced by Chancellor Jeremy Hunt last week during his Autumn Statement.

    The expert reckons it will be around this time next year.

    Speaking in a video posted to MoneySavingExpert, the bargain expert predicted what might happen with the newly announced cost of living payments:

    "As for exactly when they'll be paid, I don't know yet. My guess – and it's only a guess – is they will be put in place in time for next winter.

    "So those payments will come some time probably around October/September, and the cost of living payment will probably come in two tranches as it did this year."

  • Louis Allwood

    Martin Lewis reveals how to get £200 by switching bank accounts

    Martin Lewis has revealed that you can get a free £200 by switching bank accounts this winter.

    The MoneySavingExpert revealed that HSBC is offering a £200 switching deal – but there’s a catch, you'll need to put £1,500 in the account first.

    Nationwide also offers a similar scheme, allowing you to get £200 if you deposit £1,000 in a new FlexDirect account.

    Find out more here

  • Louis Allwood

    Martin Lewis says he’s pleased with Autumn announcement

    Mr Lewis said: “I am very pleased that both benefits and the state pension are being increased by the 10.1% September inflation rate.

    “It only happens from next April, and it will still be hard for many, but if it was less than this it would’ve been devastating.”

    His comments come after Mr Hunt announced that both universal credit and pensions would go up in line with inflation.

  • Joseph Gamp

    How will the new cost of living payments be made?

    Details on how payments will be made are scarce.

    But the current batch of cost of living payments are being paid automatically, so eligible households don't have to apply for the money.

    That would suggest those eligible for the payments this time around will just have to sit tight and wait.

    You may need to ensure you're receiving the correct benefits in order to receive the handouts.

  • Joseph Gamp

    'Squeezed middle' earners to be hit hardest by Chancellor's budget

    The MoneySavingExpert last week said that while the Chancellor's new economic package will help those on low incomes and benefits, those on middle earnings are set to be hit hardest this winter.

    Speaking to the BBC's World At One, Mr Lewis said: “It’s going to be difficult for everybody.

    “Because the cost of living crisis is biting away those in the middle who don’t get any benefits or any other payments they won’t get electricity support either except for the energy price guarantee so what the chancellor has done is the state is subsiding energy bills quite extensively.”

  • Joseph Gamp

    Get your questions over to Martin

    Martin Lewis has revealed he will be talking to a top tax specialist as part of his final Money Show Live episode this evening.

    The MoneySavingExpert said: "Do you have any questions on personal/self employed tax issues (eg what you can and can't claim).

    "We've a top tax specialist on one part of @itvmlshow tonight, so we can put some of your questions to her.

    "Suggest a question by reply."

  • Joseph Gamp

    Who is eligible for the £150 payment?

    People with disabilities who qualified for the current £150 one-off payment needed to receive one of the following:

    • Attendance Allowance
    • Constant Attendance Allowance
    • Disability Living Allowance for adults
    • Disability Living Allowance for children
    • Personal Independence Payment
    • Adult Disability Payment (in Scotland)
    • Child Disability Payment (in Scotland)
    • Armed Forces Independence Payment
    • War Pension Mobility Supplement

    Mr Hunt confirmed a second £150 payment will be made next year, but the criteria for receiving it is not yet known.

    Who is eligible for the £300 payment?

    The current Pensioner Cost of Living payment is being given to all pensioners who normally get the Winter Fuel Payment.

    This means you qualify if:

    • you were born on or before September 25, 1956
    • you lived in the UK for at least one day during the week of 19 to 25 September 2022 in what is known as the "qualifying week"

    Jeremy Hunt has now confirmed millions of elderly Brits will receive another one-off £300 payment next April.

    Again, you qualify if you were born on or before September 25, 1956, but it's not yet known whether households will qualify if they normally receive the Winter Fuel Payment.

    Who is eligible for the £900 payment?

    The £900 payment will be going to millions on means-tested benefits.

    That includes those on:

    • Income-based Jobseeker’s Allowance
    • Income-related Employment and Support Allowance
    • Income Support
    • Pension Credit
    • Tax Credits (Child Tax Credit and Working Tax Credit)
    • Housing Benefit
    • Council Tax Support
    • Social Fund (Sure Start Maternity Grant, Funeral Payment, Cold Weather Payment)
    • Universal Credit

    For the previous payments, you had to be entitled, or later found to be entitled to one of these benefits by a certain date.

    • Louis Allwood

      Martin Lewis reveals exact date to shop at Disney to bag a bargain

      Martin Lewis has unveiled the exact date shoppers can bag 30% off at Disney before Christmas.

      The bargain expert revealed the tip as Christmas shopping gets underway.

      He confirmed Shop Disney will slash 30% off selected items online from November 23-27.

    • Louis Allwood

      Martin Lewis gives important advice to shoppers

      Martin Lewis also said on the show that shoppers can get a No7 gift set from Boots.com, worth £160, for just £41.

      It is currently in stock online and selling for £85 – but the finance expert has urged shoppers to hold out until next month for a better deal.

      Martin said: "So don't buy it now, sorry Boots, wait and hopefully it'll still be in stock and you can get it cheaper then."

    • Joseph Gamp

      Cost of living payments and benefits rise ‘too late’, say recipients (2/2)

      Jason Alcock, 51, a disabled widower who was forced to sell his dead wife's possessions to cover his living costs in recent years, said he "should be eligible" for both payments and the working-age benefit increase, but is unsure of when to expect them and scrutinised the delay to the 10.1% benefits rise.

      "We need it now," said Mr Alcock, from Stoke-on-Trent.

      "We're going to have a really cold winter and people are going to die because they're not going to turn on their heating.

      "I'm living in one room upstairs because the heat rises… that's the only room I'm heating."

    • Joseph Gamp

      Cost of living payments and benefits rise 'too late', say recipients (1/2)

      Benefits recipients facing a "dark" Christmas due to tightened finances have said they fear rises unveiled in Jeremy Hunt's autumn budget will come "too late".

      The Chancellor has pledged a cost-of-living payment of £900 to households on means-tested benefits and £150 for individuals on disability benefit and also plans to raise disability and working-age benefits by 10.1%, in line with September inflation, in April next year.

      The announcement of help has been welcomed but many feel the April rise needs to be brought forward, with members of the public directly impacted telling the PA news agency that the support on offer comes "too late".

    • Joseph Gamp

      Martin gives Xmas warning on avoiding seasonal debt

      Meanwhile, on his ITV show this week Mr Lewis warned families not to go into debt just to finance Christmas

      Mr Lewis said: “You know you’re not going to be able to spend like you want to.

      “Decide how much you are going to spend on Christmas this year and stick to it. Christmas is one day, we don’t want you to be indebted in the New Year,” he added.

    • Joseph Gamp

      Jeremy Hunt's statement contains a 'housing hole' says homelessness charity

      A homlessness charity says Jeremy Hunt's new measures won't help tenants with the rising cost of rent.

      Shelter chief executive Polly Neate said: “There is a housing hole in this budget – housing benefit remains frozen at 2020 levels when private rents have been rising at record rates. 

      “Increasing Universal Credit will really help people struggling to pay their food and fuel bills, but crucially it doesn’t cover rents which are most people’s biggest outgoing. Unless housing benefit is increased, the shortfall with real rents will only grow – swallowing up other benefit increases. The boost to benefits will be built on quicksand.  

      “The glimmer of hope for those at the sharp end of the housing emergency is the planned increase to the benefit cap. Raising the cap will put more money in the pockets of the hardest hit families. 

      "The government’s refusal to unfreeze housing benefit ignores the rental crisis that is unfolding, and means that homelessness will continue to rise this winter.”  

    • Joseph Gamp

      Pensions and benefits WILL rise with inflation, says Chancellor

      Both pensions and benefits will rise by 10.1 per cent with inflation, it was revealed by Jeremy hunt today.

      Mr Hunt said: “In the face of unprecedented global headwinds, families, pensioners, businesses, teachers, nurses and many others are worried about the future.

      "So today we deliver a plan to tackle the cost of living crisis and rebuild our economy.

      "Our priorities are stability, growth, and public services. We also protect the vulnerable because to be British is to be compassionate and this is a compassionate Conservative government."

    • Joseph Gamp

      Extra help for millions on Universal Credit to pay mortgages

      UNIVERSAL Credit claimants were today given more help with crippling mortgage repayments.

      Jeremy Hunt’s Autumn Statement will allow benefit recipients to take out a loan to ease rising interest costs after three months rather than nine. 

      It is one several major wins for UC claimants dished out by the Chancellor who threw an arm around the poorest.

      In the financial package the Treasury said: “To support mortgage borrowers with rising interest rates during periods of low-income, from spring 2023, the government will allow those on Universal Credit to apply for a loan to help with interest repayments after three months, instead of nine. 

      “The government will also abolish the zero earnings rule to allow claimants to continue receiving support while in work and on Universal Credit.”

    • Joseph Gamp

      Martin Lewis explains what happens when Stamp Duty cut ends

      MONEY expert Martin Lewis has revealed what the end of the Stamp Duty cut will mean for first time buyers.

      In the Autumn Statement today, Chancellor Jeremy Hunt said the cut will be scrapped on March 31, 2025.

      Read more from Katie Davis here.

    • Joseph Gamp

      New Price Guarantee approximately £700 less than previous cap

      Despite the fact that consumers face hefty bills, Martin Lewis did explain that the £3,000 average is approximately £700 less than if the Government had stuck with the previous Energy Price Cap, which regulated prices before the Price Guarantee.

      He also revealed that he was able to confirm with the Treasury that if the Price Cap were to fall below the level of the Price Guarantee, customers would be switched to the cheaper of the two measures.

      The personal finance guru earlier tweeted to explain what the newly-announced cut in stamp duty will mean for house-hunters.

      He wrote: “So while currently you pay no stamp duty until property costs £250,000 (£400,000 for first time buyers) it will go back to £125,000 (and £300,000 for first time buyers).”

    • Joseph Gamp

      Martin explains ‘worrying’ change of new £3,000 Energy Price Guarantee

      Martin Lewis posted a video on Twitter analysing the budget measures introduced today.

      He explained a ‘worrying’ change in the form of the announcement that the cap of the Energy Price Guarantee would go up by 20%.

      The Energy Price Guarantee limits the amount consumers are charged for average energy usage.

      When it was announced, the average annual bill was set at £2,500 but Jeremy Hunt announced in the budget this morning that this would rise to £3,000 from April next year.

      But, you pay for how much energy you use, so your bill could be higher than £3,000 a year.

      The scheme applies to 24million customers on standard variable tariffs (SVTs)

      Read Jacob Jaffa’s full article here for more information.

    • Joseph Gamp

      People in the 'squeezed middle' will be hit hardest says Martin Lewis

      Speaking to the BBC's World At One shortly after the budget statement, Martin lewis suggested those in the middle and not on benefits will be worst affected.

      The money savign expert said: “It’s going to be difficult for everybody.

      “Because the cost of living crisis is biting away those in the middle who don’t get any benefits or any other payments they won’t get electricity support either except for the energy price guarantee so what the chancellor has done is the state is subsiding energy bills quite extensively.”

    • Joseph Gamp

      Watch: Martin Lewis' 'instant' budget reaction

    • Joseph Gamp

      Martin Lewis says he’s pleased with Autumn announcement

      Mr Lewis said: “I am very pleased that both benefits and the state pension are being increased by the 10.1% September inflation rate.

      “It only happens from next April, and it will still be hard for many, but if it was less than this it would’ve been devastating.”

      His comments come after Mr Hunt announced that both universal credit and pensions would go up in line with inflation.

    • Henry Moore

      Martin Lewis reveals how to get £200 by switching bank accounts

      Last night, Martin Lewis revealed that you can get a free £200 by switching bank accounts this winter.

      The MoneySavingExpert revealed that HSBC is offering a £200 switching deal – but there’s a catch, you'll need to put £1,500 in the account first.

      Nationwide also offers a similar scheme, allowing you to get £200 if you deposit £1,000 in a new FlexDirect account.

      Find out more here

    • Henry Moore

      UK economy facing a 'lethal combination of recession and inflation' unless Jeremy Hunt acts, expert claims

      Following this morning's announcement that inflation reached a new 40-year high in October, the British Chambers of Commerce has warned Jeremy Hunt must act in his fiscal statement tomorrow.

      BCC head of research David Bharier said: “While the Bank of England seeks to control inflation through further interest rate rises, this is a blunt instrument that fails to address the core drivers of inflation for most firms: soaring energy costs, global supply chain disruption, and rising staff costs due to labour shortages.

      “Ahead of tomorrow’s autumn statement, businesses will need to see a clear plan from the Chancellor to boost business investment and growth, as well as targeted measures that ease the specific causes of inflation.

      “The UK economy otherwise faces a lethal combination of recession and runaway inflation.”

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