From boosting your income to trimming everyday expenses, here are 25 ways to take control of your finances over the coming year.
1. Switch your bank account
The Current Account Switching Service (CASS) has made it easier than ever to change bank accounts, which has made providers keen to tempt switchers.
Currently there are four switching offers available:
Co-operative BankFirst Direct:Nationwide:Santander2. Sell unwanted clothes
According to eBay, the average person is holding onto £400 worth of clothing they don’t wear.
This yeah both eBay and Depop scrapped fees for UK sellers selling preloved clothing. Vinted has always applied fees to the buyer, rather than the seller. This means you’ll hold onto more of the money you make.
3. Haggle on your bills
Just over a third of people in Great Britain are haggling on their bills, according to a survey by Go.Compare.
The most popular bills to haggle on include broadband (59%), car insurance (42%), mobile phone contracts (41%), energy contracts (30%) and home insurance (27%).
Start by researching competitors’ rates using price comparison sites, then call your provider and ask to speak to the retentions team (telling them you're thinking of cancelling should also get you through to the right team). Be polite but firm, mention cheaper offers, and don’t be afraid to walk away if they can’t match or beat them.
Find out more4. Earn cashback on your spending
Cashback sites pay you a cash reward when you follow links from their sites to buy goods or financial products from selected retailers.
According to Top Cashback, on average its members earn £345 in cashback per year. Find out more:5. Transfer expensive credit card debt
If you're making large interest payments on credit card debt, it might make sense to move it all onto a 0% balance-transfer credit card deal.
These credit cards won't charge any interest on transferred debts for a set period, giving you the opportunity to make sure all your repayments go toward clearing the balance. However, the interest tends to jump at the end of the promotional period, so make sure you pay off the balance in full before this happens.
Find out more:6. Use budgeting apps
The large number of mobile phone apps that’ll help you manage your finances mean that you no longer need to rely on a pen and paper book for budgeting – unless of course you prefer it.
Using open banking, many budgeting apps will let you add accounts from multiple banks so you can keep track of the bigger picture and avoid overspending.
Find out more7. Complete surveys for cash
There's a fair number of research agencies that pay a small amount to people who complete surveys online – all you have to do is answer the questions.
Most surveys will pay you anything from 10p to £2 per survey, but there are some sites which are more generous, and you might be paid with retail vouchers instead.
If you do want to give this a go, make sure you read the terms and conditions first to make sure you're OK with how your data will be used. If you want to avoid your email address being bombarded, you can always set up a new address specifically for surveys.8. Shop at the cheapest supermarket
Each month Which? compares prices monthly across the UK’s biggest supermarkets to find the cheapest place for groceries.
This year, Aldi has consistently been cheapest for a basket of goods, while Asda often leads for larger shops.
Find out more9. Check your tax code
Many UK workers are on the wrong tax code, potentially overpaying hundreds to HMRC.
Research by Canada Life found that almost a third of UK adults who checked their tax code discovered errors, with three-quarters of them overpaying an average of £689.
Reviewing your tax code through HMRC’s online services could uncover any mistakes, allowing you to request a correction and claim a refund for overpaid tax.
Find out more
10. Reduce your tax bill
Tax reliefs can help you save on work expenses like maintaining a uniform, professional subscriptions, or travel to temporary workplaces.
Find out more:11. Switch up your savings
Rates on fixed-term savings accounts have been steadily dropping for a year, and the Bank of England's decision to start cutting the base rate in summer 2024 has also affected instant-access deals.
Despite this, savers can still find accounts offering up to 4.75% AER or more, though options are limited to certain instant-access savings accounts and cash Isas. Rates are expected to fall further, so if you’re looking to lock in a competitive deal, now might be the time to act.
Find out more:12. Sign up for loyalty schemes
Loyalty schemes are no longer just about points to spend in supermarkets – they can also unlock discounts and other exclusive rewards at other retailers or service providers.
For example, any schemes let you spend points with partners, such as using Nectar points at Argos and Habitat or converting them into Avios for travel rewards.
In its latest analysis, the Competition and Markets Authority found that 92% of 50,000 grocery products from major supermarkets, including Tesco and Sainsbury's, offered genuine savings. Find out more:13. Complete mystery shopping tasks
Fancy getting paid to drink a pint, or take pictures of tomatoes? These are some of the tasks we’ve spotted on mystery shopping apps. Mystery shoppers are regularly used to test supermarkets, retailers, restaurants and hotels. How much you earn and what's required can vary between the task. For example, this week we spotted a task requiring you to check the plants at a garden centre, snap a few photos and answer 20 questions. The task paid £2.50 and was estimated to take 10-15 minutes. Some sites our team has tried include Be My Eye, Field Agent, Roamler and Shepper.14. Rent our your parking space...
If you live in a property with its own parking, you can rent out your parking space or electric vehicle charging point to motorists.
According to Compare the Market, you could earn £209 per month (or around £2,500 per year) doing this, depending on your location.
Register your space on sites such as Just Park and YourParkingSpace, or your EV charger on JustCharge or Co-Charger.
15. ...and your personal possessions
From garden tools to occasion dresses, you can rent out stuff you rarely use rather than selling it.
Try FatLlama for household items, and websites such as ByRotation for clothes.
What you earn will massively depend on what you’re renting. For example, you could rent out a high-specification camera with lenses for as much as £250 per day, whereas we saw jet pressure washes for £13 a day.
16. Check if you're eligible for any benefits
Many state benefits and discounts aren't granted automatically, meaning you could be missing out.
For example, the latest figures show that just six in 10 people who are eligible for pension credit claimed it last year. You can check what you might be able to claim by entering your details into the free Entitledto calculator.
Find out more17. Save money on dining out
Discount cards such as Tastecard and Gourmet Society can help cut dining costs, offering 2-for-1 meals or up to 50% off food at participating restaurants.
Both cards often include cinema ticket discounts and sometimes offer free trial periods so you can try them out before committing.
18. Trace lost savings
Billions of pounds are lying unclaimed in lost and dormant accounts, but finding the money is relatively straightforward.
The easiest way to re-trace lost or dormant bank and savings accounts is to use the mylostaccount.org.uk service.
If you have lost premium bonds, you can use NS&I's tracing request form. You can also trace other NS&I products – such as savings certificates, accounts and Isas – in this way.
Find out more19. Switch your broadband provider
Switching broadband providers at the end of your contract could save you more than £100 per year, as introductory offers are often up to 90% cheaper than standard tariffs.
While switching might seem daunting, 75% of switchers in a recent Which? survey told us they found the process easy.
Find out more:20. Get a railcard
With rail fares in England set to increase by 4.6% in March, it's worth considering a railcard to help you keep the cost of train travel down.
They currently cost no more than £30 a year (due to rise to up to £35 from 2 March 2025) and will pay for themselves with a few off-peak train journeys a year. There are nine railcards available that offer discounts on rail fares varying from a third to 50% off.
Find out more:21. Cancel unnecessary direct debits
A quick browse of your monthly statement can help prevent any unnecessary payments lasting for months or even years.
Get into the habit of logging into your online bank account once a month and making sure you're not shelling out for services you no longer need or use.
Find out more:22. Bring your own coffee cup
Takeaway coffee doesn’t have to break the bank. Many coffee shops offer rewards for bringing a reusable cup.
Costa gives you two loyalty 'beans', while Starbucks gives 25p off your drink. Pret offers 50p off, and Café Nero rewards you with double loyalty stamps. It’s an easy way to save money and reduce waste.
Find out more23. Save your spare change
Some banks, including Chase, Monzo, NatWest and Starling, offer round-up features that automatically save the spare change from your purchases.
For example, if you spend £2.70, the transaction rounds up to £3, and the extra 30p is transferred into a savings pot.
Find out more24. Sell old books
Don't leave unwanted or unread books on the shelf – pass them on to a new home and make some extra money.
You can trade in books for cash instantly using sites such as MusicMagpie and Ziffit.
25. Try investing for better returns
If you're willing to learn the basics of investing in equities, you could earn much higher returns from your savings than if you store your cash in the bank. However, there is always an element of risk involved when putting your money into stocks and shares.
Even the most seasoned investors sometimes lose money. For this reason, it's often recommended that you spread your funds across a wide range of investments.
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Other financial services:
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source https://www.which.co.uk/news/article/25-ways-to-make-and-save-money-in-2025-axxQ36k9cx7x