Seven five-minute jobs to boost your finances by almost £4,000 in 2025

AS the cost of living crisis continues to bite for families across the country, it is worth exploring the small things you can do to ease your financial burdens in 2025.

Some of these suggestions are quick fixes, others might take more time.

But by next Christmas, you could have some money put aside or have paid for that big purchase.

1. Cancel unnecessary subscriptions – £500

It’s a good time of year to have a subscription service declutter, as you might find some ongoing payments you’ve forgotten about for a service you never use.

These could include streaming services, food delivery, pet food or magazines.

You can usually cancel them by either contacting the service provider or cancelling the direct debit with your bank.

A survey by Vision Express last year found that the average Brit pays out nearly £500 every year on subscription services, so by reducing this amount even by half would save a significant chunk.

2. Write a shopping list – £800

According to Tesco, the average British family is wasting approximately £800 worth of edible food a year with staples including bread, bananas and milk topping the bill of most binned items.

By sitting down and taking five minutes to work out what your most wasted items have been lately, you can plan for next year’s grocery bill to be a lot lower, and you’d be doing your bit for the planet too.

It’s also worth shopping around for the best price for common items, or switching from branded ranges to supermarket own brands.

3. Create a budget tracker – £100s

Writing down every penny you spend over the course of a week or month can be a revealing exercise.

It is virtually impossible to track spending in your head, and small purchases like coffees out, treats for the kids, or the odd takeaway can quickly add up.

By getting a handle on your expenses, you may find ways to dramatically reduce your spending next year.

Perhaps you will  be shocked at the amount of money you’re spending on lunch each day.

Or at the mounting cost of your kids’ football sticker habit.

Setting up a simple Excel spreadsheet or keeping an account book can help you manage your outgoings.

You can also get one for free from the likes of MoneyHelper.

By being watchful about your spending, you can save hundreds of pounds, if not thousands.

4. Swap your credit cards – £765.24

Taking five minutes to check in on any credit cards you have could help you to manage your debt better.

Often cards start with a good deal, but over time the interest on any balance becomes higher and the cards are no longer good value. 

Comparison website USwitch suggests that moving existing credit card debt to a 0% interest balance transfer card could help you save up to £765.24 in interest in the first 12 months.

You can use any comparison website to find the best current deals – but always make sure to check the terms of the card before you commit.

The deals you can get in terms of interest rates, interest-free periods and credit limit will depend on your credit score and income, among other factors.

Comparison websites and credit card providers will often have an eligibility checker that can do a soft search without affecting your credit rating.

Always remember to pay off at least the minimum amount off your credit card each month. And if you’re transferring a balance, avoid spending more on the card.

5. Prioritise expensive debt – £100s

Along the same lines, it’s worth taking time to look at all the debt you have, such as credit cards or loans, and prioritise them in terms of which is costing you the most.

For example, if you have £1,000 on a card at 18%, landing you with a £180 per year interest bill, and, at the same time, £1,000 in savings earning 1%, giving you £10 a year, then you would be better off using your savings to pay off the card.

Simply doing that would save you £170, although it would eat up your savings.

We spoke to experts about when it’s better to pay off debts versus saving money – read what they said.

Always tackle priority debts first though. These are ones where the consequences for not paying are most severe, like rent, mortgage and council tax.

If you are worried about debt, charities such as StepChange or Citizens Advice can help.

6. Check your insurance bills – £700

Your insurance premiums might look more affordable in any list of quotes, but there’s often a sting – many firms charge high interest if you pay monthly.

According to consultancy Pearson Ham, the average home insurance premium rose to £420 in 2024.

And the average car insurance bill has hit nearly £1,000.

Drivers can now expect to pay £995 for their car insurance, on average, according to price comparison website Confused.com.

Monthly payments can cost up to 50% more than paying annually, so if you can afford to pay upfront, you could save yourself up to a whopping £700.

7. Set up a savings challenge – £1,000

There are lots of ideas for saving over a year, but an easy way to do it is by using a savings account that automatically rounds up your purchases.

For example, investment app Plum rounds up your bank account transactions to the nearest pound, and moves the money into your Plum account.

For example, if you spend £4.50 on a coffee, Plum will round it up to £5 and move the extra 50p into your Plum account.

Sun reader Jacqueline Poutney, 30, put aside £1,000 by doing this and said it was all done without her noticing the money leaving her bank account.

You can also use money management app Emma to do a similar thing.

Other savings challenges include the 52-week challenge, where participants put aside £1 for the first week, £2 for the second, £3 for the third and so forth, until the end of the year.

Before you start, consider whether the larger amounts at the end of the year will be achievable.

But if you can stick to it though, the payoff is huge as you’ll pocket a whopping £1,378.