April means one thing for most households: bills resetting. This year, water charges are up around 5.4%, council tax is rising across most of England and Wales, and energy experts are warning of a potential 10% rise in July, with global unrest pushing wholesale gas prices higher. It’s a lot, but it’s also not a surprise if you’re paying attention.
We’re not saying this to stress you out, we’re saying it so you can get ahead of it. Because you cannot control what the energy companies charge or what your council decides. What you can control is how prepared you are.
This is your 10 minute money check-in to help you feel better about your money.
Check Your Budget Actually Reflects Real Life
First things first, update your numbers. A budget from six months ago isn’t your budget anymore. If your energy bill is going up by £100 a year, that’s around £8 a month… small, but it needs to be in your figures.
Open your budget, update your bills and see where you actually land. Knowing your real number is always better than sticking your head in the sand.
Look at Your Flexible Spending Honestly
Fixed costs are going up, so your flexible spending is where you have the most power right now. That doesn’t mean cutting everything you enjoy, it just means being a bit more intentional about it.
Have a look at your groceries. Are there swaps you could make without really noticing? What about clothes, beauty, takeaways, subscriptions or days out? Are there things quietly leaving your account each month that you’ve forgotten about?
Even freeing up £30 to £50 a month makes a real difference when your bills are creeping up.
Make Sure Your Emergency Fund Is Doing Its Job
Rising costs are exactly why an emergency fund exists. If yours is sitting healthy, keep it that way. If it’s looking a little thin, now’s a really good time to make it a priority.
“Honestly I could cry (happy tears)! I’m so close to having £500 in my mini emergency fund, which is HUGE for a 30 year old who’s never had any savings whatsoever.
I’ve worked so many extra shifts for this and it feels incredible to be able to put that money aside because usually when I work extra shifts it’s to pay off what I’ve already spent on a credit card. I’ve still got a long way to go and a hell of a lot of debt but I haven’t used credit in 3 months! I literally tell anyone and everyone that will listen about Financielle and will continue to forever.” – Financielle community member
Even a small emergency fund of £500 to £1,000 means that when something unexpected lands on top of higher bills, you’ve got options.”
Check You’re on the Best Deals You Can Be
You can’t control prices going up but you can make sure you’re not overpaying where you don’t have to be.
- When did you last check your broadband or phone contract?
- Are you on a default energy tariff when a better one might be available?
- Is your car or home insurance due for renewal soon?
Set a reminder and shop around before it auto-renews. It takes twenty minutes and could save you hundreds.
Want to get a clearer picture of where your money is going? The Financielle app helps you track your spending, build your budget and work towards your goals, all in one place.