Rachel Reeves is set to deliver her Autumn Budget this week - but there are plenty of other money changes already coming in November that will affect your wallet.
A major building society is slashing interest rates across its savings accounts, while a Department for Work and Pensions (DWP) scheme that pays £25 when the temperatures drop will also open. There is also an important deadline in November for those who could be eligible for £150 off their electricity bill.
We'll also have the latest inflation update from the Office for National Statistics (ONS) and the Bank of England will meet again to decide whether to cut interest rates. Here is what you need to know.
Nationwide lowering interest rates - November 1
Nationwide has confirmed some of its savings rate will be reduced from November, following a cut in the Bank of England base rate. Saving rates will be lowered by between 0.1 to 0.2 percentage points. But the majority of regular saver accounts will stay the same, including its Flex Regular Saver 3 which offers a rate of 6.5% and its FlexOne Saver which pays 5%.
Cold Weather Payments - November 1
The Cold Weather Payment scheme, which issues cash payments of £25 to people living in England and Wales when temperatures drop below zero degrees for seven consecutive days, will open once again on November 1. To be eligible for the money, households will need to be claiming one of several DWP benefits which includes things such as Pension Credit, Income Support, Job Seekers Allowance or Universal Credit.
Bank of England interest rates - November 7
The Bank of England will make its next interest rates announcement on September 19. The base rate is currently at 5% after the Bank of England finally announced a cut at its last meeting on August 1. The base rate is what the Bank of England charges other banks and lenders - this then increases your cost of borrowing as a customer.
Pension Credit backdate for Warm Home Discount - November 11
The last date to backdate a Pension Credit claim and still be entitled to the Warm Home Discount is November 11. The Warm Home Discount is a £150 discount that is applied directly to your electricity bill. You should get the payment automatically if you, or your partner, were receiving the Guarantee Credit portion of Pension Credit on August 11.
But as Pension Credit can be backdated by three months, it means you have until November 11 to put in a claim and request that it is backdated and still receive the Warm Home Discount.
Inflation - November 20
The latest inflation data from the Office for National Statistics (ONS) will be released on November 20. Inflation is a measure of how prices have changed over time. In the latest update from the ONS, inflation was revealed to have finally dipped below the Bank of England target by falling to 1.7% in the 12 months to September. At its highest point, inflation reached 11.1% in October 2022.
Ofgem price cap announcement - November 22
Ofgem will announce its new energy price cap on November 22. This new rate will come into force from January 1 until March 31. The Ofgem price cap is currently set at £1,717 a year for the average dual fuel household paying by direct debit. Energy analysts at Cornwall Insight are predicting it could rise again to £1,730.
The price cap doesn’t actually set a limit on how much you will pay for energy - instead, it sets a limit on unit rates for gas and electricity, plus the standing charges. This means your total bill still depends on how much energy you're using. The headline price cap rate is used to illustrate what someone with typical energy usage can expect to pay.
Black Friday - November 29
Black Friday will take place on November 29, with Cyber Monday falling on December 2 - but deals normally start popping up way before these dates. If you're looking for a bargain, make sure you always compare prices online first so you don't get ripped off.
While there will be genuine deals to be had, last year we revealed how research from PriceSpy showed a fifth (22%) of products were more expensive on Black Friday compared to the previous year. Use websites such as Price Spy, Idealo or CamelCamelCamel to track costs from thousands of different retailers, including Argos, Amazon, eBay and the supermarkets.