The cost of living crisis is continuing to hammer the finances of families across the country, with October set to be a month of misery.
Brits are already facing the fastest price rises in 40 years but there are further bill hikes to come.
The new energy price cap will come into force from October 1 - just as most households would normally turn their heating on.
On top of soaring energy bills, inflation is continuing to spiral - with interest rates being pushed up in retaliation.
The Bank of England has also warned the UK is heading into recession at the end of this year.
Consumer rights expert Martyn James said: "[Sh]October is facing up to be one of the worst months for money in recent memory, with people assailed on all sides from rising bills, expenses and cost-of-living chaos.
"While millions of us will be dreading it, knowing what lies in store means we can plan now, so we don't feel the pain as much when Shocktober hits. "
1. Energy price cap to rise on October 1
The Ofgem energy price cap - which sets a limit on the rates a supplier can charge for each unit price of electricity and gas you use - will rise on October 1.
Analysts from Cornwall Insight are predicting an unprecedented rise to £3,582 before another climb to £4,266 in January 2023.
The price cap is currently set at £1,971 for someone with typical use on direct debits - meaning a potential increase of £1,611.
Ofgem hasn’t said how much the price cap will increase by yet. An announcement will be made on August 26.
2. Temperatures start to drop
The start of the new price cap comes when temperatures really start to drop in the UK.
The price cap was last adjusted in April, meaning Brits have had mostly warmer weather since then - so less energy consumption.
The mean October temperature in England is 11.8°C, while Wales is 11.4°C, Scotland is 9.2°C and Northern Ireland is 11.0°C.
Customers normally build up "credit" in the warmer summer months to compensate for higher usage during the colder months.
While this idea still works in principle, the “credit” you’ve built up won’t go as far once energy bills rise.
3. Most people turn their heating on in October
The exact date most people turn on their central heating changes each year, but it normally falls in October when the clocks go back.
But from the moment you turn your heating on, your bills will start to rise - so families will be urged to put this off as long as possible.
Money experts including Martin Lewis have urged people to "heat the human" instead of your home.
For example, by wearing warm clothes and using hot water bottles.
4. Inflation - tipped to hit 13%
The Bank of England last week said it expects inflation to hit 13% in October - up from its current rate of 9.4% and a new 42-year high.
Inflation is a figure used to explain how much the prices of everyday essentials have increased.
For example, if something cost £1 a year ago and now costs £1.02 today, that rate of inflation would be 2%.
Inflation is also what is driving up interest rates, which have risen from 0.1% to 1.75% since December.
Interest rates affect how much it costs you to borrow money.
When it goes up, the cost of borrowing - for example, if you have a mortgage - gets more expensive.
The next interest rates decision from the Bank of England will take place on September 15 and then again in November 3.
5. Start of recession expected
The Bank of England has warned that the UK economy is likely to fall into recession at the end of this year and into 2023.
The economy is forecast to shrink in the last three months of 2022 - so October, November and December.
A recession is defined as two consecutive quarters where the economy shrinks.
The latest gross domestic product (GDP) figures for June 2022 show the economy shrunk by 0.6%.
This follows growth of 0.4% in the previous month of May.
6. Budget - will more support be announced?
The Chancellor of the Exchequer normally delivers his Budget in October or November - although no set date has been announced just yet.
All eyes have been on the Government and Nadhim Zahawi to deliver a further package of support for the cost of living crisis following growing fears over energy bills.
The Government has not updated its cost of living help since May, when the former Chancellor Rishi Sunak confirmed every household will get £400 off their electricity bill.
But the price cap predictions have severely worsened since then - at the time, the boss of Ofgem said bills could rise to £2,800.
Ministers held crisis talks with utility bosses yesterday - but no new measures of support have been announced yet.
7. Clocks go back - October 30
The clocks will go back on October, which means the days get shorter and darker - and this can be a real struggle for lots of people.
Several studies have found that the number of cases of depression rises massively after the clocks change in the autumn.
It serves as a reminder to always speak to someone if you're struggling, particularly on top of the rising bills.
Samaritans offers a free 24-seven helpline on 116 123, email jo@samaritans.org, or visit samaritans.org to find the nearest centre.
For anxiety, the No Panic helpline can be called on 08449 674 848.
CALM, the Campaign Against Living Miserably, has a helpline number, 0800 585 858, and an online chat facility at www.thecalmzone.net.
8. Two months to go until Christmas
There will be just two months to go until Christmas come October - meaning some parents will be starting to panic about how they'll afford the festive season.
You can help ease the financial stress of Christmas by budgeting now and setting yourself a realistic target of what you can afford.
Set your expectations reasonable when it comes to everything from the food to the presents.
9. October half term - more expense for parents
Most schools in the UK will break for two weeks in October, although the exact dates will vary.
The majority of schools in England are scheduled to have their half term from October 23 to October 27.
Some schools in Scotland will break up slightly earlier, from October 17 to October 23.
When their is a half term, parents have to fork out more on food, as well as other activities and general entertainment for their kids.
10. Eight months since Russia invaded Ukraine
October will mark eight months since Russia invaded Ukraine on February 24.
Gas prices soared globally following the start of the conflict and are continuing to rise, with Russia slowly choking the European Union of supplies.
In the UK, gas prices trebled throughout 2021 and have doubled again since the start of this year.
This is despite the UK only importing around 4% of its needs from Russia last year, due to the global knock-on effect pushing up prices.
Wholesale gas first prices started to rocket following the Covid pandemic - with suppliers pushing the increase onto customers.
Businesses being shut down led to low global energy consumption, followed by a rapid bounceback as the economy began to open up again.
