How to get financially fit this fortnight

If you know you could probably be making more of your money, but never seem to get around to sorting things out – now's the time. In the next fortnight you can work out how to stretch every penny and get the most out of your money.

  1. Start by drawing up a budget of your incomings and outgoings to make sure you have plenty of money to cover food and bills and enough left over for the meals, days out and holidays that you might be planning this summer. Use our easy online budget planner.
  2. Sort out short-term savings to pay for holidays, or big birthdays. Don't let low savings rates put you off. Take advantage of high-interest current accounts as these pay up to 5 per cent in interest including TSB Classic Plus on balances up to £2,000 and Nationwide FlexDirect up to £2,500. If you want to save more, look into other savings accounts checking out best rates using Moneyfacts.
  3. Take a look at your ISA if you have one and check the amount of interest you're earning. If necessary, transfer it to a better one. Don't withdraw the money to re-invest it because it will lose its tax-free status – get your bank to set up a transfer to the new one instead.
  4. Mortgage rates have hit historic lows so look to re-finance and save money. Ask your lender about switching to a better mortgage or find the best deals using mortgage broker, Charcol (0344 346 3708).
  5. If you want to borrow over the short-term for a big purchase, use an interest-free credit card rather than a loan. But as with any debt, make sure to pay off the balance before the deal ends or transfer it to another zero percent card – but remember you will have to pay a fee to transfer the balance.
  6. Personal loan rates have fallen dramatically over the last few years, so it's likely you could save big on your current loan if you have one. Look into transferring it to a better deal.
  7. Check you’re on the correct tax code using the Tax Code Calculator at Moneysavingexpert. This determines how much tax you pay — and it may be that you’re being charged the wrong amount. If you've been overpaying, claim a refund on the website.
  8. Weed out unused subscriptions It's easy to lose track of services that you’ve signed up for. Go over your bank statement and make sure you still use everything you pay for.
  9. Audit your bills Save big money on household bills by reviewing your current deals with energy, tv, phone, gas and electricity providers. Use the easy switching services at Yours Switching Energy or call 0800 008 7777.
  10. Drive down cover If you’ve had the same car insurer for years, it's time to switch! Find cheaper car insurance at or speak to a Mustard adviser on 0330 022 7421
  11. Have a document detox If you’ve opted for paperless banking and bills, shred any statements you still have at home. Also shred till receipts when you’ve matched them to your bank statement. Find out which documents you can shred here.
  • There are more money-saving tips in every issue of Yours magazine, out every fortnight on a Tuesday.