By reviewing your mortgage, personal loan, savings, car insurance, home insurance and credit card, you could save over £600 before Christmas, a financial website says.
Shopping around for a more competitive deal on financial products could pocket the average family £631.14, says price comparison website Moneysupermarket.
Christmas is a "notoriously costly" period, warns the website's director, Stuart Glendinning, as spending on debit and credit cards last year amounted to £22 million.
"By reviewing their basic finances consumers can make some significant savings in time for the festive period," he says.
The interest rate cut in August has resulted in many mortgage lenders slashing their mortgage rates. Moneysupermarket points out that competitive deals are available for people who want to find a remortgage.
Shopping around for the best deals on car insurance, home insurance, credit cards and personal loans could mean significant savings, the website says.
It points out that a number of personal loans are currently available at interest rates of lower than six per cent APR as lenders "leapfrog each other to top the best-buy tables".
Shopping around for better deals on savings accounts is also advisable, says Moneysupermarket. It warns that savings could "languish in poor paying accounts with the Big Four banks".
Wiping off the dust from your current financial situation towards the end of the year can be beneficial, Mr Glendinning concludes, adding that consumers could use the internet to find some of the best deals in the market.
Review finances to start saving money, website urges
Review finances to start saving money, website urges
Wed, 02 Nov 2005
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