Seven key money changes happening in june including tesco clubcard shake up

JUNE IS SET TO BE A BUSY MONTH FOR MONEY CHANGES - WITH A NUMBER OF UPDATES THAT COULD AFFECT YOUR WALLET. FROM TESCO CLUBCARD SHAKE-UPS TO INFLATION UPDATES, HERE IS EVERYTHING YOU NEED TO

KNOW 15:49, 29 May 2025Updated 15:50, 29 May 2025 June is set to bring a host of significant financial updates and changes that are worth marking in your calendar. Tesco Clubcard members

should brace themselves for not just one, but two major overhauls of the supermarket's loyalty scheme. However, there's good news on the horizon as more than six million households

eligible for the £150 disability cost of living payment will begin receiving their funds. In addition, Nationwide Building Society is poised to give out a one-off £100 bonus on 3.4million

customers after amassing profits of £2.2billion. Another key event to look out for is the upcoming inflation update and the Bank of England's interest rate decision next month, reports

the Mirror. Here's the lowdown on what you need to know and how it could affect your finances. JUNE 13 - £100 TO NATIONWIDE CUSTOMERS. From June 13 through to June 30, Nationwide will

be crediting approximately 3.4million customers with £100 each. This payment will be processed automatically, so there's no need to apply, and it will appear on bank statements as

"Nationwide Fairer Share Payment". To qualify for this bonus, you must hold an eligible current account, along with either a savings account or mortgage with Nationwide. Your

current account should have been established by March 31, 2023, at the latest, and remain active in June to be entitled to the monetary gift. JUNE 14 - TESCO CLUBCARD CHANGES On June 14,

Tesco shoppers will face two alterations to the Clubcard programme. The initial change will involve a reduction in the value of Clubcard points when used with a "Rewards Partner".

Article continues below Currently, Tesco Clubcard points hold three times their value when exchanged with a "Rewards Partner", but this will soon change to twice their value. Tesco

boasts an extensive list of over 100 "Reward Partners", such as Disney+, Thorpe Park, Pizza Express, Legoland and Zizzi. In another development affecting Clubcard users, those who

buy fuel at Tesco forecourts are set for a revamp on points earned. Currently, drivers accumulate one point per £2 spent on fuel, however, this system is set to transition to one point for

every two litres of fuel bought. JUNE 15 - HMRC RENEWAL PACKS HMRC renewal packs are on their way, currently being distributed to around 1.5 million households receiving Tax Credits. The

final batches of these essential HMRC renewal packs are expected to be delivered by June 15. It remains imperative for Tax Credit recipients to renew their claims annually or face the

possibility of losing their benefits. Claim renewals can be conveniently processed online via GOV.UK accounts, through the HMRC app, or even by ringing the HMRC Tax Credit helpline at 0345

300 3900. Alternatively, individuals may simply post their completed renewal pack back to HMRC. Tax Credit claimants must ensure they complete their renewal by the deadline on July 31. JUNE

20 - DISABILITY BENEFIT COST OF LIVING PAYMENT Fast forward to June 20 – a vital date, as six million individuals receiving disability benefits are set to benefit from a £150 cost of living

payment, dispersed between June 20 and July 4. Eligibility for the £150 sum requires that you either were claiming a qualifying benefit on April 1 or have a later claim backdated to that

date. The anticipated payment may arrive later should your benefits claim commence after April 1 and is subsequently backdated. Several benefits qualify an individual for the £150 payment,

which includes: * Attendance Allowance. * Constant Attendance Allowance. * Disability Living Allowance for adults. * Disability Living Allowance for children. * Personal Independence

Payment. * Adult Disability Payment (in Scotland). * Child Disability Payment (in Scotland). * Armed Forces Independence Payment. * War Pension Mobility Supplement. The funds will be

automatically deposited into your bank account, are not subject to tax and will not impact any benefits or tax credits you receive. JUNE 21 - INFLATION ANNOUNCEMENT On June 21, the Office

for National Statistics (ONS) will disclose the inflation rate for the 12 months leading up to May. The Consumer Price Index (CPI) inflation is a metric utilised to illustrate the extent of

price increases for goods and services over time. High inflation signifies a more pronounced rise in prices, meaning your money doesn't stretch as far as it once did. In the 12 months

leading up to April, CPI inflation stood at 8.7% - this is a decrease from 10.1% in March, and a drop from the 41-year peak of 11.1% recorded in October of the previous year. JUNE 22 -

INTEREST RATES DECISION The Bank of England will reveal whether interest rates will see another hike on June 22. On May 11, the central bank raised the base rate to 4.5%. The base rate is

the fee that the Bank of England charges other banks and lenders - this subsequently influences the rates customers are charged when borrowing money. If interest rates rise, borrowing costs

on products such as variable rate mortgages will increase - however, the silver lining is that savings rates should also see an uplift. JUNE 30 - TAKE A METER READING Currently, most

households are protected by the Energy Price Guarantee (EPG) for their gas and electricity bills. However, the EPG will cease to exist come June 30, with the new Ofgem price cap set to take

effect from July 1. The forthcoming Ofgem price cap will be £2,074 annually for the average household - a reduction from the current £2,500 per annum under the EPG. This signifies that the

typical household can anticipate their energy bill to decrease by £426 annually starting this summer. For those without a smart meter, it would be prudent to take a meter reading prior to

the implementation of the new price cap. Article continues below This ensures your supplier doesn't overestimate your consumption and potentially charge you more based on the higher

rate. It's also worth bearing in mind that there isn't an absolute cap on the total amount you can pay for energy. What the Ofgem price cap does is establish a limit on the charges

for unit rates and standing charges.