In a previous article, we discussed how increasing prices in the UK are causing more families to struggle, despite the recent Spring budget indicating that inflation is expected to return to normal levels.
Unfortunately, the bad news is that a range of prices are set to continue rising in April and will affect almost everyone.
If you haven’t checked out Martin Lewis’s Money Saving Expert list yet, now is the time to take a look at our summary.
Check Your Council Tax
Firstly, it’s important to check your council tax.
Most local councils are planning to increase council tax by 5% from April, meaning that those living in Band D properties will need to pay around an extra £100 per year.
To avoid any assessment errors, you can check with nearby residents to confirm that your property is graded correctly.
Additionally, check to see if you qualify for a council tax discount, which is available to:
- students
- people living alone （or with someone under the age of 18）
- those receiving a pension
- those with severe mental illness （SMI）
- those receiving a low income or welfare benefits
Stamp Price Increase
Another area to be mindful of is stamp prices.
If you rely on stamps, now is the time to save money.
From April 3rd, first-class stamps will increase from 95p to £1.10, and second-class stamps will increase from 68p to 75p.
Marriage Allowance
If you’re married or in a civil partnership.
One of you is a non-taxpayer and the other is a basic rate taxpayer (20%), you may be eligible for the marriage tax allowance.
If you’re eligible but haven’t applied, you can claim back up to £1,242 for the past four years.
More information on how to apply can be found here.
Pension
For those between 45 and 70 years old who have paid less than 35 years of National Insurance contributions.
It may be worth considering topping up your state pension before July 31st.
This is because you need to have paid 35 years of National Insurance contributions to receive the full state pension when you retire.
Finally, it’s crucial to check your energy bill.
The government has been providing assistance with energy bills for many households since last winter, and this has been extended until June this year.
The money will be delivered to households in various forms to ease the financial pressure during this difficult time.
If you haven’t received this assistance, you can find contact details in this article.
