Written by: Sarah Rogers, Head of Customer Accounts
If you’re looking to improve your finances in 2025, Sarah Rogers, Curo’s Head of Customer Accounts (pictured below), has some useful tips.
Some people use the new year to kick start a health plan to improve their fitness, but it can also be the perfect opportunity to review your financial health.
Christmas is expensive: there’s food and presents to buy, plus higher bills due to cold weather, alongside all the standard household costs. If you’re in debt, this may have increased, and you might be worried about how you’ll afford to repay it.
In my role helping customers with their money worries, I’ve learnt some useful tips on how we can all improve our financial health:
Create a budget
Sit down and work out what you’re spending your monthly income on. You might be surprised when you work out exactly where it’s going. It can be a great opportunity to cancel any subscriptions that you’re not using.
PayPlan, a registered free debt advice agency, have a useful budget planner.
Check you’re not missing out on any benefits
It’s important to check you’re not missing out on benefits you may be entitled to. Whether you’re already receiving benefits, unsure of your eligibility, or have previously been told you don’t qualify, it’s worth taking a moment to check. Try the free benefit and budgeting calculators. These tools are quick, confidential, free and take less than ten minutes to use.
Review your household costs
You can use comparison sites to find the best deals for bills, such as your gas and electricity or broadband deals. Some offer vouchers or discounts as incentives for you to switch.
Try to ensure you don’t let policies auto-renew, for example broadband and home insurance. They may auto-renew at a higher price and you may be able to get a better deal elsewhere.
Try a savings challenge
A no-spend challenge can be a good way to focus on cutting back on spending for a month or two. The idea is that during the timeframe you choose, you commit to spending money only on necessities like groceries, bills and toiletries. Then, you cut out any non-essentials such as streaming services or days out.
This can get you back on track after the holidays. You may review your spending habits along the way and find out how much you could save in the future.
After the no-spend period, you could use any money you save to pay off debts or put them into your savings account.
If you’re on a low income and claiming Working Tax Credit or Universal Credit, you could be entitled to take part in the Help to Save scheme. This is a type of savings account where you can get a bonus of 50p for every £1 you save over four years. You can save between £1 and £50 each calendar month and you don’t have to pay money in every month.
Tackle your debt
If you’re struggling with debt, please ask our Customer Accounts team for help. Carrying the burden of debt can weigh you down and it can be overwhelming to know where to start, but we can support you. Call our Customer Accounts team on 01225 366345 or email customeraccountshelp@curo-group.co.uk .
Alternatively, you can visit PayPlan to speak to them via live chat or for more information.
Don’t suffer in silence, we’re here to help.