Expert Advice

Shop around for the best prices – look at loans, mortgages, credit cards, mobile phone airtime, insurance and utilities.

Manage your accounts online – it’s often cheaper and will save time too.

Set up direct debts for regular bills and repayments – you may get a discount and will never miss a payment, so won’t have to pay penalties.

If you are struggling with your mortgage payments, speak to your lender as soon as possible.

Consider re-mortgaging if there are better deals available but watch out for application and arrangement fees.

Create a budget for yourself and stick to it – be realistic, or you’ll fail.

Don’t go over your overdraft limit – talk to your bank if you’re struggling.

Look at consolidating your debts into a single loan with lower monthly repayments – but remember that you may pay more overall if your pay-back period is longer.

Make the most of the high interest rates by making sure any regular savings are earning the best possible return.

Check your Experian credit report for free with CreditExpert, the credit monitoring and identity fraud protection service. It will show what you owe and how well you’re managing.