Four July money changes with €290 payment, welfare scheme expanded & savings

July will be a great month for many people with a welfare scheme being expanded as applications have opened for another payment.

There is some bad news too, with thousands expected to be impacted by a price increase.

Here is everything you need to know ahead of July 2024:

Read more: What cost of living benefits will be paid and what bills are going up in July

Read more: Cost of living Ireland: Discontinued €850 social welfare grant replaced by two critical payments

Free Travel Scheme

From July 2024, the Free Travel Scheme will be extended to people who are medically certified unfit to drive.

The Free Travel Scheme allows you to travel, free of charge, on public transport and some private bus and ferry services.

Back to School Clothing and Footwear Allowance

The Back to School Clothing and Footwear Allowance (BSCFA) is a payment to help families with the cost of school uniforms and shoes.

Many families get the BSCFA automatically. If you are paid automatically, you don’t need to apply for the BSCFA.

If you don’t get an automatic payment, you can apply for the payment online at MyWelfare.

Applications for the Back to School Clothing and Footwear Allowance opened on 12 June 2024 and will close on 30 September 2024.

The current rates for BSCFA are €160 for children aged 4 to 11 and €285 for those aged 12 to 22.

However, children aged between 18-22 must be returning to full-time second-level education in a recognised school in the autumn of 2024.

SSE Airtricity

SSE Airtricity announced a price decrease, which will come into effect from 1 July. It will see standard electricity and gas rates reduced by 10%.

Gas customers that are eligible will see annual savings of around €104.79. Included electricity customers will save up to €149.24 annually.

Irish Life Health

Irish Life Health is increasing their prices, which will see an average increase of 5.3% on its gross adult premium.

They explained that the hike across its various plans will range from between 1.6% and 7.9%.

Existing customers, who’s renewal is due, and new customers will see the increase from 1 July.

AIB

AIB is reducing its four-year fixed mortgage rate for customers borrowing €250,000 or more by 0.25% from 3 July.

They explained that this rate can also be accessed by existing mortgage customers with a balance of at least €250,000.

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