1. Pay less on your mortgage

Many borrowers will soon come to the end of the special offer period on the mortgage they took out a few years ago. When that period ends your lender will probably move you onto their Standard variable Rate and this will be expensive. The answer is to Re Mortgage. Get details here – go to our Mortgage page. Click here for a Mortgage.

Most mortgages allow borrowers to repay up to 10% of their mortgage debt without penalty. If you have any spare cash use some of it to reduce your mortgage.

2. Pay less for your Credit Card

If you run an outstanding balance on your credit card it will be expensive. Do not pay more interest than you need to. Take out a new credit card with a 0% Balance Transfer deal. But be quick – fewer cards now offer these deals. Find out which is the best credit card for you – go to our Credit Card page. Click here for a new Credit Card.

3. Keep a watch on your fuel bills

It’s cold and fuel prices are rocketing. Visit an online fuel comparison site which is accredited by Energy Watch.

4. Ensure your investments and savings are tax efficient

Consider an ISA for the first £3,000 you save each year. Interest rates are competitive and the interest is received tax-free.

5. Make sure you Will is up to date and watch out for Inheritance Tax.

Make sure your estate is divided up as you would want. If you haven’t made a Will, make it one of your first jobs in the new year. Remember that if the value of your estate exceeds £275,000 you may have a potential Inheritance Tax liability. Take steps to reduce any potential Inheritance Tax bill. Consult an Independent Financial Adviser.