Laura Pomfret Financielle Co-Founder and BBC Morning Live Finance expert shared how April is shaping up to be one of the most expensive months of the year for UK households.
Several major bills are rising around the same time including water, council tax and those broadband and mobile contracts that are linked to inflation, putting additional pressure on already stretched budgets.
FinancielleTL;DR
Water bills are rising as companies invest in improving ageing infrastructure and cutting leaks as part of long-term upgrades.
Council tax is increasing because many local authorities are using the maximum permitted rise in England of 4.99% to help fund essential services. If you live in Scotland, Wales or Northern Ireland, the increase could be higher.
Meanwhile, broadband and mobile bills are jumping for millions of customers who are still on older contracts that allow annual inflation-linked price rises.
There is one small positive – the energy price cap will fall by around 7% in April, thanks to lower wholesale gas prices and reduced green levies.
However, global tensions particularly in the Middle East are already pushing oil prices higher, which could influence energy costs again ahead of the next price cap review in July.
So while bills might fall slightly for now, uncertainty is still very much in the background.
Watch Laura’s segment on BBC Morning Live here
Control what you can control
Whilst there’s lots we can’t control, it’s good to try and control what we can:
- Check bills where you might be overpaying without realising it (e.g. broadband, mobile phones, TV packages)
- Check for support and discounts, including social tariffs for utilities and council tax reductions
- Take a look at your smaller recurring payments – streaming services, apps, subscriptions and memberships can quietly add up — and many people are still paying for things they thought they’d cancelled. A quick audit of your bank statement can reveal easy wins.
You can track and manage all your transactions in the Financielle App.
If you want to stay in control of your money check out this helpful article on how to budget the Financielle way here