Households across the UK will today be bracing themselves for financial chaos over the coming months as the cost of living rises at its fastest rate in decades.
Yesterday it was announced that the UK's energy cap - the maximum amount Brits can be charged for energy - will rise by £693, making the typical energy bill an eye-watering 54 percent more expensive.
And household budgets are likely to be squeezed further this year with price hikes predicted in various parts of the economy.
The energy cap rise announcement was made yesterday by the Office of Gas and Electricity Markets (Ofgem).
Ofgem reported that the new energy cap means the typical energy bill will rise by 54 percent.
But how much will all of this cost you? Use our calculator below to find out how much your bills are set to rise this year.
The price hike will see an even higher increase of £708 for customers using prepayment for energy bills, meaning a rise from £1,309 to £2,017.
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National Insurance will also be rising from April 2022 - last year, the Government said it would bump up NI contributions to shore up the finances of a severely overstretched NHS and social care sector.
From this April, the NI rate for employees is set to rise from 12% to 13.25% on incomes of £9,880 to £50,270 a year, and from 2% to 3.25% on anything earned over that.
