Only six days until the last cost of living payment is received.

The much-awaited cost of living payment is on its way, and it's the final one! This last instalment is expected to arrive in bank accounts next week, bringing some much-needed relief for those who are eligible. The Department for Work and Pensions will be making this payment directly to the bank accounts of individuals who receive certain benefits, such as Universal Credit. This tax-free cash will not affect the benefit cap and is available to over eight million households across the country.

With energy bills still soaring, especially during the cold winter months, many are feeling the financial strain. The rising costs of food and other essentials are also adding to the burden. To qualify for the cost of living payment, you must be receiving at least one of the following benefits: Universal Credit, Income-based Jobseekers' Allowance, Income-related Employment and Support Allowance, Income Support, Working Tax Credit, Child Tax Credit, or Pension Credit.

The Department for Work and Pensions is currently in the process of issuing the next cost of living payment. The good news is, you don't have to apply for it at all. If you're eligible, the money will be automatically deposited into your bank account. To receive the full amount of £299, you must have received one of the listed benefits for any day between November 13 and December 12 of last year. This means that even if you weren't eligible for the first and second payments, you could still receive the third one.

So, when can you expect to receive the final cost of living payment? Mark your calendars for February 6, 2024, as that's when the third and final instalment will be made. The first payment of £301 was made on April 25 of last year, followed by the second payment of £300 on October 31, 2023. And now, the last payment of £299 will be arriving in bank accounts next week.

On a side note, for parents, the cost of sending a child to nursery for three days a week can add up to a whopping £730. Plus, as the leap year approaches, the effects on Universal Credit payments have been revealed. And for those wondering where their TV licence fee goes, it covers a variety of services that we rely on every day, and a rise in payment is set to be blocked.

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