Abacus Daily Debt News

Consumers urged to conduct ‘financial spring clean’

Consumers who give their finances a spring clean could save nearly £2,000 a year, it has been suggested.

Halifax has offered a number tips to help Britons save an average of £1,799 a year, a move which it suggests could be used to save for a deposit on a house.

People who quit smoking could have an extra £1,930 in their bank account in 12 months, while cutting out a morning latte would save £37.80 a month or £453.60 over the course of a year, Halifax stated.

Head of mortgage development at the bank Jaedon Green said: "By identifying a few simple changes to their everyday routine and saving regularly, first-time buyers can make a big boost to their deposit pot."

Such advice may also help those in need of a debt management plan.

Last month, energy expert Robert Hammond from Consumer Focus gave tips on how to save money on gas and electricity.

He urged householders to check their bills regularly as well as turning off appliances that aren’t in use.

By Rosie Park