THE cost of living is rising, which means bills are set to go up next year.
But there are ways of avoiding a hike in expenditure – or you can at least brace yourself by assessing your finances in preparation.
There are government schemes you can access, or ways of finding out exactly how much your bills are set to rise by.
You can also keep your energy costs down yourself by reducing your use of gas and electricity at home.
We explain everything you need to know about bills that are set to rise next year – and tips to avoid a heavy impact to your finances.
Council tax is going up in April next year – and it could be by as much as £500.
There's no way to avoid the increase, but it pays to be aware of upcoming changes so you're not caught out.
You should check what council tax bracket your home falls under by entering your postcode on the government website.
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Then you need to find out how much your local authority area charges, as it differs across the country.
Residents can find out which local council area they live in by searching on the gov.uk website.
Energy bills soared this year and they're set to continue rising in 2022, with one firm predicting that the average bill will reach £1,800 by April.
Rocketing wholesale gas prices prompted energy firms to remove their cheapest fixed deals from the market.
That means families were moved onto the energy price cap – which is set to increase again next year.
There are government schemes that can help you pay your energy bills – so check out whether you're eligible for extra support.
You could get money if temperatures drop to freezing in your area or if you're already on certain benefits.
If not, you can reduce the amount of gas and electricity you need with some simple tips.
For example, by turning your thermostat down just one degree you could save £100.
You can't avoid your national insurance tax increasing next year, but you should be aware of the incoming change.
Take a look at your pay packet and work out how much the increase will impact you.
For example, a worker earning £25,000 will see their bill rise by £193 a year.
You can check out how it will affect your salary here.
If you're ready for the increase, you'll be able to set a new budget, rather than being surprised by the tax increase after April 2022.
Train fares are set to go up next year, which could add extra costs to your commute or holiday travel.
The price of train travel will jump 3.8% in March – the biggest increase in a decade.
It will mainly impact commuters who can't walk or drive to work.
If you buy a ticket everyday, check whether a season ticket might work out better for you financially.
But if you're working from home at least one day a week, you could actually reclaim some tax back.
In fact, as you can back date your claim by up to three years, you could get as much as £500 off your tax bill.
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