Eight ways to save money in the New Year

2025 looks like it’s going to continue to be a financially rough time for many. Trying to stay warm in January and also feeling the pinch after Christmas could have already caused a financial headache this new year, as well as changes to Winter Fuel Payments.

Read our eight ways to save money in the new year and you can make some quick and easy savings. 

It’s important now more than ever to check if you’re missing out on any benefits or grants you’re entitled to. If you’re already receiving benefits, you’re not sure if you’re eligible for any, or if you’ve previously not been eligible for any, it’s still worth doing a quick check using a benefits calculator. It’s confidential, free to use and takes less than ten minutes.

You could be missing out on money which you never have to pay back. Use Turn2us’ Grants Search tool to find grants which you may be eligible for.

Check if you’re out of contract on things like your broadband. This means you’re out of the minimum time you signed up to a specific deal, usually 12 or 24 months. If you are out of contract, you could be overpaying. 

Insurance companies may auto-renew your policy at a higher price than you’re already paying, so if you don’t keep track of when you’re due for renewal, you could end up paying more in the long run. When your insurance is up for renewal, you could try to negotiate a better quote with your current provider or use price comparison sites to find the cheapest deal to switch to before your policy auto-renews.

It’s easy to sign-up to TV, music and gaming subscriptions and forget about them. But if you’ve got multiple subscriptions, they soon add up. Cancelling the ones you don’t use could free up some much-needed spare cash this year.

Go through your bank statement to check what subscriptions are active, and contact the company to request to cancel.

If you need some motivation to help you save money in 2025, why not try some creative ideas? You can turn saving into a fun process that gives you the motivation you need to build your emergency fund savings.

Sometimes, it can be the fear of checking our bank account that stops us from managing our money in the best possible way. Take the first step to better manage your money today and join a free money coaching workshop.

You’ll learn everything from managing credit wisely to structuring your finances.

For some people, their spending habits can hold them back, and the urge to shop can be so strong, especially during the sales and Black Friday. Read our ​‘How to stop impulse buying’ blog to learn practical tips to approach spending in a planned way.

You could be entitled to a Council Tax discount if you are living alone, living with a student, have a disability, you’re on a low income or are a carer, amongst other reasons.

If you’re struggling with debt and don’t know where to start paying it off, get some help at the start of this new year. Debt can weigh you down and make everyday life extremely difficult. Get in touch with CAP and our free, expert debt help can support you all the way to becoming debt free.