September has arrived, bringing about various financial adjustments set to impact your finances in the upcoming month. Parents can look forward to an extension of the free childcare scheme, offering significant relief. Additionally, a crucial deadline for the Winter Fuel Payment looms, prompting the need for energy meter readings in preparation for the Ofgem price cap adjustment.
In the financial landscape, the imminent updates on inflation and Bank of England interest rates are events worth noting in your calendar. For the latest money news and exclusive deals, consider joining the Money WhatsApp group or subscribing to Mirror’s Money newsletter for tailored advice and shopping offers.
Effective September 1, working parents with nine-month-old children will have access to 30 hours of free childcare weekly, doubling the existing 15-hour threshold. To qualify for this benefit, individuals must earn at least the national minimum wage for 16 hours weekly but not exceed an annual income of £100,000.
First Direct customers will transition to online savings account statements from September 1, with the option to retain paper statements through the app settings. On the other hand, NatWest, Halifax, and Lloyds are set to close several bank branches this month due to the increasing shift towards online banking.
As the Winter Fuel Payment season approaches, eligible recipients could receive up to £300 automatically, with some individuals required to submit applications by mail starting September 15 or by phone from October 15. The Office for National Statistics will release the latest inflation data on September 17, reflecting price changes over time.
On September 18, the Bank of England will announce its next interest rates decision, impacting borrowing costs. Energy bills are slated to increase on October 1, with the energy price cap rising to £1,755 a year. To avoid inflated charges, ensure to take a meter reading around September 30 before the price cap adjustment takes effect.