Fixing your energy bills, Cash ISAs and other ways to boost your finances in 2025
As a raft of household bills rocket in the 2025/26 tax year, we look at five ways you can offset the financial misery.
As predicted, this year’s so-called ‘Awful April’ is already hitting hard.
From energy price hikes to soaring Council Tax bills, we’re all in for a rough ride in 2025.
Luckily, there are ways to fight back.
In this article, we reveal five things you can do to boost your finances over the next 12 months.
1. Save up to £300 by fixing your energy tariff
As of this month, the Energy Price Cap (the maximum amount you pay per unit of energy) has soared by 6.4% to £1,849.
This represents a £111 increase for the typical household on a Standard Variable Tariff – the default deal for those who fail to move providers.
According to the BBC, some 22 million UK households are currently stagnating on these deals.
However, research reported in This is Money has found that Brits could save up to £300 per year by switching to a fixed tariff.
These deals lock in your energy rates, protecting you against future Price Cap hikes, often lasting for 12 months.
The most attractive fixes
So, what are the best fixes on the market?
At the time of writing, Outfox the Market offers 16.2% below the Price Cap.
If you’d prefer a big-name provider, E.ON comes in at 11.8% under a standard variable tariff.
Before you take the plunge, remember to check any exit fees on your current deal.
2. Bag up to £175 by switching your bank account
If you’re shopping around for a new current account, you could earn a nice little windfall by choosing the right bank at the right time.
Several banks offer cash incentives to new customers.
As the current market leader, First Direct pays a £175 bonus for opening its fee-free First Account.
In another perk, the provider often tops the tables for customer service.
You’ll also receive an interest-free overdraft of up to £250, rising to 39.9% on higher borrowing.
As an alternative, NatWest offers a £150 cash bonus if you take out a Reward account.
The bank also provides up to £5 per month in cashback if you pay in at least £1,250.
Be aware, there is a £2 fee.
To qualify for a switching bonus, you may need to jump through certain hoops, such as using a bank’s switching service and setting up a specified number of Direct Debits.
The best bank accounts for switching bonuses 2025
3. Earn up to £300 a year with cashback current accounts
Cashback accounts reward you for everyday spending – and can be a great way to earn a bit of extra money with relatively little effort.
For example, Santander’s Edge Up current account pays 1% cashback on specific household bills (up to £15 per month).
Eligible costs include landlines, TV subscriptions, council tax and utilities.
You'll also earn 1% cashback at supermarkets and on travel costs (also limited to £15 per month).
Note, there is a £5 monthly fee, so the most you can earn in cashback is actually £25 per month, equating to £300 per year.
Otherwise, Chase’s current account pays 1% cashback on debit card spending, capped at £15 per month.
The best UK bank accounts for cashback
4. Make the most of your ISA allowance
As most readers will know, Cash ISAs allow you to earn tax-free interest on your savings.
Under current rules, most UK residents over the age of 18 can save up to £20,000 per tax year.
At present, financial app Moneybox tops the best-buy tables, paying 5.05% AER.
This includes a 1.05% bonus for new customers and has a minimum deposit of £500.
If you’d prefer a more well-known brand, Leeds Building Society pays 4.41%, with a minimum deposit of £1,000 and a maximum of £20,000.
Manage all your savings accounts in one place with Raisin, the simple savings service
5. Save thousands by remortgaging
Taking another look at your mortgage could save you a fortune, especially if you're on a Standard Variable Rate (SVR).
This is the lender's typical interest rate when your initial mortgage deal ends.
Unlike a fixed-rate mortgage, the interest rate on an SVR can go up and down.
Increases are sometimes, although not always, linked to changes in central bank rates, meaning you could potentially be in a sticky situation if the Bank of England opts to hike interest rates.
According to the Homeowners Alliance, the average SVR was approximately 7.99% in March, 2025.
How to cut costs
Remortgaging allows you to switch your current mortgage to a new deal, either with your existing lender or a different bank.
If you’re considering switching deals, the first step is normally to check your current mortgage terms.
It’s crucial you pay attention to exit fees or early repayment charges as you’ll need to factor these into the cost of remortgaging.
You’ll then need to compare potential deals based on interest rates, fees and flexibility.
Remember, you’ll also need to go through affordability checks and a property valuation.
Where to get help
While these techniques should help boost your finances, times remain tough.
If you’re still struggling, there are organisations that can help with problem debt. These include:
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