Seven tips to get your money shipshape in 2024 – by cutting out simple mistakes

BAD habits can leave your finances in dire straits.

But if you have resolved to get your money shipshape this year, cutting out simple mistakes will help.

Here are some . . . 

AUTO-RENEWING INSURANCE: You can easily save hundreds of pounds a year by shopping around for home, car, travel and other insurance.

Put a note in your diary three weeks before cover ends, to search the market using a comparison site.

LOYALTY TO BANKS: Many of us have never swapped our current accounts.

But you can pocket cash rewards by doing so. For example, earn £175 just by moving to First Direct. Or enjoy £5 each month — £60 a year — from Halifax’s reward account.

MISSING OUT: Millions fail to claim benefits they are entitled to, from pension credit to council tax support. Use benefits calculator entitledto.co.uk, free of charge, to check you are getting what you should.

STAYING SUBSCRIBED: The costs of signing up to apps, gyms and streaming sites can build up. Take time to cancel what you do not really use.

FAILING TO BUDGET: Plan your spend-ing weekly and monthly and you are less likely to fritter. Try a budgeting app such as Snoop or Emma, which tracks spending and suggests cutbacks.

PAYING INTEREST: Got debt? Make sure you pay as little interest as possible, to clear it sooner.

A balance-transfer credit card can give you up to 30 months of zero interest.

Check if you are likely to qualify, before applying with a soft search on a comparison site such as moneysupermarket.com.

ZERO SAVINGS: Get a rainy-day cash pot in place so you are less likely to turn to high-cost borrowing in emergencies.