Two Cost of Living payments set to hit bank accounts in October

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Two Cost of Living payments set to hit bank accounts in October
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Millions are in line for the financial help

As the weather begins to cool and winter draws nearer, some families could be in line for two payments to help battle the soaring cost of living. One in three UK households are expected to enter fuel poverty in 2023, as Britain experiences the sharpest dip in living standards since post-war rationing.

This leaves households to keep cutting their expenditure, often at the expense of their health. And, just as things are getting worse, energy bills are set to reach over £4,200 by January 2023. But there are two payments aimed as softening the continuous blows to household budgets, coming in October, Leicester Mercury reports.

£324 - Second Cost of Living Payment instalment In the second instalment of the £650 total Cost of Living Payment, £324 will be sent to around 7.2million families across the UK who meet eligibility criteria. Confirmed by the Department for Work and Pension, the payment should be made by October 31.You do not need to apply for the payment, as it will be paid automatically if you are eligible.

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