Millions of households warned to prepare for October money changes - key dates

Money changes will impact the finances of millions heading into winter

A number of money changes are happening from October, impacting the finances of millions of households. It can be hard to keep track of what is happening, who gets what and when.

With winter just around the corner, it's the time when the Government starts to provide some support to the worst-off households. But changes elsewhere mean people will also lose money, forcing families to tighten budgets just as they're switching on the heating and looking ahead to Christmas, the most expensive time of the year.

Some money changes will affect low-income households, like those on benefits, while others will impact pensioners. Here's a look at some of the changes to expect over the coming weeks.

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Energy bills

Energy bills are going up again from October in a fresh blow to millions of households. The regulator Ofgem has increased the Energy Price cap, meaning typical bills will rise by £149 a year.

How quickly households will feel the impact of the increase depends how they pay their bills. Direct debit customers may not pay more straight away, but suppliers are likely increase bills further down the line.

Winter Fuel Payments

Winter Fuel Payments, worth up to £300, have previously been paid to all pensioners. But they are now being scrapped for all but the poorest.

Only those on Pension Credit and other benefits will get the support this year. Charities warn it will leave around two million pensioners who just miss the qualifying threshold struggling to get by this winter.

To make matters worse, hundreds of thousands of pensioners don't claim Pension Credit despite being eligible, meaning they are set to miss out on winter fuel money they are owed.

Warm Home Discount

The Warm Home Discount support some of the poorest pensioners and households and the scheme is launching again from October. It knocks £150 off bills one time only during winter.

This can happen at any time between October and March and it's up to energy companies to decide when to implement it. Pensioners who get the Guarantee Credit element of Pension Credit qualify as do some people on benefits like Universal Credit if they also have high energy costs. This is determined by energy companies.

Those who qualify for support will be sent letters.

Cost of living payments

Local councils will be making cost of living payments through the Household Support Fund (HSF). The pot of cash is funded by the Government, who has confirmed it will be extended to winter.

Some councils may launch their funds from October, though it could be closer to Christmas for others. Households are advised to check their local authority's cost of living support pages online for full details.

That's where they will be able to make applications when the fund opens. Applicants usually have to show they are suffering financial hardship and struggling to afford basic essentials like food, gas and electricity.