It is no April Fools….energy prices will spike beginning today.
As of today, April 1, 2022, the energy price cap will increase for around 22 million people. Some households will see an increase of close to £700!
Those on fixed tariffs may not see an increase, but depending on their usage of gas and electricity, they could find themselves in debt or owing money at the end of their tariffs.
You can read more about this from Ofgem here.
We Are a Nation Of Debt….And More Debt
If you are following these news feeds and reading the daily news, and the above news notice, it is costing us much more now to live. A lot more! Which in turn causes many of us to turn to credit to fill the gap between what income we may have, money coming in, and money going out.
Energy costs alone is going to cripple many households.
In turning to credit to fill the money void, many will use credit cards, but more and more lenders are not offering low interest rate or zero rate credit cards. So balance transfers to save money are not as accessible as they had been.
Read more about this here.
Don’t Miss Out On Your Council Tax Rebate
The government announced as of today Councils will be giving £150 to those properties in Bands A to D. If you pay by direct debit, your local Council will automatically rebate the funds to you, however, many people do not pay by direct debit. They will need to contact their local Council and apply for the rebate. Many Councils will send out notices regarding this. Don’t lose out on this rebate.