Keep your finances in tip top order

Sticking with the same mortgage provider for too long can cost you thousands of pounds. You can search for the best mortgage deals using the mortgage calculator at www.which.co.uk when your current deal runs out. It's also worth talking to an independent mortgage adviser (see www.impartial.co.uk to find a local one).

It pays to check the interest rates on your accounts. Most current accounts pay little or no interest on credit balances. However, if you stay in credit with an average balance of £1,500, switching to a Which? Best Buy Alliance & Leicester Premier Direct current account could earn you almost £100 a year in interest as we went to press - and the bank was offering a £100 'signing on' fee to new customers. Visit www.which.co.uk for the latest Best Buy current accounts.

When it comes to insurance, it's easy to simply renew with the same firm year in, year out. But taking the time to check your policies annually could save you money.

Which? research has found that you can almost always get a better deal on car insurance by switching to a new insurer each year. Regularly review life insurance and income protection policies to check that they still give the level of protection you need.

Understanding exactly what cover your different policies offer will also ensure that you don't end up paying for services unnecessarily. Check, for example, whether your home contents insurance policy covers your mobile phone. If it does, you could cancel any standalone mobile insurance. Also, make sure you aren't over-insured and paying for cover you don't need.

Review your bank account to make sure there are no old direct debits or standing orders going out that should have been cancelled. It's a straightforward and simple check that could save you money.

Keep on top of all your financial affairs. From checking your credit files regularly to reading your bank statements, the simplest way to minimise fraud is to be aware of the activity on all your accounts. Make checking easier by closing any accounts that you no longer use. One in four people has a credit card that they haven't used in the last year. Closing dormant accounts could also save you money - you may find that your card provider charges you an annual fee if you don't use your card.

Check your credit files online once a year with Experian or Equifax for £2.

1. SET UP DIRECT DEBITS FOR UTILITY BILLS

Not only will you have one less thing to worry about but you'll also save money. You could save up to £200 a year paying all your bills this way.

2. ORGANISE PAPERWORK to make it easier to review your finances regularly and decide whether to switch accounts to obtain better rates. Don't forget to make a note of when special deals end.

3. KEEP ALL RECORDS such as mortgage and investment information. Any tax records of income and capital gains should be kept for at least 22 months after the end of the tax year.