Many of us will be looking to stop our waistlines from expanding too much over the festive season, but our wallets are usually the one place where we’re happy to feel the bulge.
Here, we look at seven ways you can pile on the pounds (financially speaking) in 2025…
1. Review your mortgage
If you’re a homeowner, your mortgage is probably your biggest monthly cost. If you’re paying your lender’s standard variable rate (SVR), the chances are you might be able to boost your bank balance by remortgaging.
For example, the average SVR is currently 7.95% while the Bank of England base rate is 5% and the best two-year fixed remortgage deals are around 3.99% (although you’ll need a large chunk of equity to secure this rate).
For example, someone with a £150,000 repayment mortgage with 15 years left to run who is borrowing 60% of their property value would be paying £1,429 a month if they were on the typical SVR of 7.95%. Their monthly payments would fall to £1,109 a month if they remortgaged to a best buy two-year fixed mortgage rate of 3.99% – a saving of £320 a month or £3,840 a year.
Remember that there may be legal and valuation costs, but many remortgage deals now include these as part of the deal.
Want to speak to a mortgage advisor? Speaking to an experienced mortgage advisor can help you to understand your options and get a great deal on your mortgage.
If you’re looking for expert mortgage advice, you can get a free consultation with an independent mortgage adviser at Fidelius. Speak with a qualified, FCA-regulated, independent mortgage adviser you can trust. Rated 4.7/5 on VouchedFor from over 1,250 reviews.
2. Claim what you’re entitled to
Billions of pounds of means-tested benefits and tax credits goes unclaimed each year, so it makes sense to check whether you’re getting everything you’re entitled to.
For example, according to analysis from charity Turn2us, as many as one in four over 65s who are entitled to Pension Credit do not claim it, whilst carers across the country are missing out on £1.15 billion in unclaimed Carer’s Allowance. Turn2us can assess your eligibility for benefits through its Turn2us benefits calculator or by phone on 0808 802 2000. Alternatively, you can get help from Citizens Advice. You can search for your local Citizens Advice here. Learn more about Pension Credit and how to claim it in our guide Pension Credit explained. Our article Five free sources of help if you’re making a benefits claim explains where else you might be able to find support if you’re claiming benefits for the first time.
3. Review your phone, TV and broadband package
When was the last time you changed your home phone, TV and broadband providers? Lots of us switch to new providers when we move home, and then stick with the same suppliers year after year even when our introductory deals have finished.
This can really cost you, so if you want to put some pounds back in your pocket in 2025, check how much you’re currently paying and see if you can save by moving to a different provider. According to uSwitch, households are paying an average of £90 more per year compared to the cheapest deals by paying ‘out of contract’ costs.
Bundling your TV, phone and broadband together so you get them from a single supplier can help you save money and make it easy to keep on top of how much you’re spending. Always check to see what your current supplier can offer you first though – if you let them know you’re planning to move they might offer you a much better deal simply to stay.
If you’re considering switching your broadband provider, it’s worth doing plenty of research so you can be certain you’ve found the best possible deal to suit your needs. Comparison sites such as MoneySuperMarket, Uswitch and Compare the Market all enable you to compare the latest broadband deals, whether you’re looking to switch just your broadband, or if you want a broadband, phone and TV package.
You can find out more about switching broadband providers in our guide How to find the best broadband deal.
4. Earn more interest on your savings
Interest rates are higher than they’ve been for some time, which in turn makes it easier to earn decent returns on your savings.
But it’s still worth hunting down the best rates, even if you don’t have a big savings pot, particularly with the inflation rate at 2.3% in the 12 months to October, as this means there are still currently plenty of inflation-beating accounts to choose from.
Rachel Springall, finance expert at Moneyfacts.co.uk, said: “It’s vital for savers to keep a close eye on the changing market and switch quickly to take advantage of a top rate.”
If you’re trying to build a savings pot for any emergency expenses, regular savings accounts can be a great place to start the savings habit, as they often pay the highest returns. The very best rates currently require you to have a current account with the same provider to qualify.
5. Reduce interest on your debts
If your plastic has taken a pummeling recently, make sure you don’t pay more interest than you need to on what you’ve borrowed.
The best way to save money on high interest charges is to transfer your credit card balance to a new card with a lengthy interest-free period. Although there will typically be a balance transfer fee to pay, which is a percentage of the amount you’re transferring, the savings you’ll make in interest will usually far outweigh this cost.
According to financial website Moneyfacts.co.uk, transferring £3,000 from a card which charges you a typical interest rate of 21.9% APR to a 0% balance transfer card with an interest-free period of 31 months and repaying £100 a month so the debt is repaid within the interest-free period, would save £1,190 in total in repayments, before paying a £59.70 as a transfer fee (1.99%).
If you do take advantage of a lengthy interest-free period, always leave yourself a calendar reminder with plenty of time to spare, so you can switch again before the interest rates jump up.
6. Don’t auto-renew insurance
Consumers renewing their motor or home insurance policy cannot be charged more than new customers since rule changes introduced a couple of years ago by watchdog the Financial Conduct Authority (FCA).
Previously, renewal quotes for existing customers could be significantly higher than prices offered to new customers, who are frequently offered the best deals. The rule change has brought premiums into line, and are aimed at making things fairer for consumers.
However, it remains important to shop around for the cheapest policy for your needs, as there could still be significant savings to be made by switching.
Make a note of when your existing insurance policy is up for renewal, and take some time to shop around for a new deal in the weeks before it expires. Compare renewal quotes with the best deals, and it may be worth speaking to your current insurer to see if they can reduce the cost of their policy to compete with the cheapest on the market for your circumstances.
It’s a similar story with other types of insurance such as home and pet cover, so if any of your policies are soon up for renewal, always compare quotes from several other providers first to see if you can find a better deal.
If your insurance renewal is coming up soon, you can compare car insurance quotes or home insurance quotes today, or if your insurance isn’t up for renewal just yet, let us know your renewal month here and we can send you a reminder nearer the time.
7. Have a clear out
If you’ve got lots of stuff cluttering up your home that you no longer need or use, you might be able to give your income a quick boost by selling them. There are lots of online marketplaces and apps where you can sell unwanted items, or if you’d rather, you can hire a pitch at your local car boot sale and sell your things there.
For example, if you want to sell some clothes, the Vinted app can be downloaded for free and once you have it, you simply take photos of your item, upload it with a description, and set your price. When it sells, your buyer will also cover the shipping costs. Find out more in our guide How to make money from your clutter.
When selling second-hand items online, bear in mind that HMRC recently introduced rules that mean some people might need to pay tax on the income they make from their sales. Whether you’ll have to pay tax will depend on your circumstances and you can read more about this in our article Will new HMRC rules affect how I sell things online?
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