Brace yourself, because Awful April is about to strike. At this time every year, a range of bills are usually hiked, squeezing our finances and making it tougher to make ends meet. And while you’re busy dealing with the impact of rising prices, it also has implications for your savings.
Right now, on average, the Hargreaves Lansdown Savings & Resilience Barometer shows we spend £2,062 on the essentials each month, and this month’s increases could add around £50 a month, due to six key changes:
Water bills are set to rise an average of £123 to £603 on 1 April — that’s up 26%.
The energy price cap will rise, so bills are up 6.4%. For an average household that’s up £111 to £1,849.
Councils are raising tax by an average on 5%, and cash-strapped councils are pushing them even higher. It means the average Band D council tax is up £109 to £2,280.
Broadband and mobile companies often impose mid-contract price hikes at this time of year.
You could face a rise of between 6.4% and 7.5% — which could add over £50 a year.
Car tax will rise £5 to £195,…
