Don't be a dormouse on money

DON'T be a dormouse! Just because the clocks go back this weekend, there's no need to go into hibernation - especially when your finances are concerned. Big businesses know all too well how lazy we are, how we can't be bothered to check or change things.

But sometimes leaving the things the way they always have been can cost you a lot of money. So we're giving you some ideas about how to check your finances.

Putting your head under the duvet and ignoring ways to save money could be costing you dear. A little effort now and you can save yourself a small fortune. Just the thing in time for Christmas shopping - or to let you snooze in peace.

DEBT

Not opening the envelopes doesn't help. If you're too scared to open bills, then it's definitely time you did something about it. If you have serious debts and can't manage them then the good news is that you can get independent advice for free, to help you sort it out.

And for goodness' sake do it now, before you're tempted into more debt by Christmas.

Go and see your local Citizens' Advice Bureau. Or call the Consumer Credit Counselling Service tel: 0800 138 111, or the National Debt Line tel: 0808 808 4000. Advice is free.

CREDIT CARDS

If you can't clear your debts, then don't make them worse. Many cards charge around 15.9 per cent interest on uncleared balances. Some are putting their rates up to 20 per cent. Paying this much is madness. There are still cards that offer 0 per cent on balance transfers - though you will probably have to pay a fee.

Go for those which also offer 0 per cent on new purchases too, otherwise you will still pay interest on your spending, and your transferred balance will go to the back of the queue. And by the time you start paying that off, your interest free time might have run out...

* Tip: Always pay more than the minimum payment. Even a little bit extra can make a huge difference to the time it takes to clear the debt.

l Look at: Britannia, Sainsburys, HSBC

STORE CARDS

No. Check the interest rate you're paying. It is possibly twice as much as on the average credit card. There are far cheaper ways to get credit. There is absolutely no reason to choose this way of paying so much extra. Who needs your money more - you or the chain stores?

SAVINGS

How interesting are your savings? Check. Banks have a way of enticing you into saving with nice big interest rates - then gradually cutting them away until they are virtually worthless. Some old accounts might be paying as little as 0.5 per cent. It's fairly easy to get ten times that. New online account from Landsbanki, Iceland's oldest bank, offers 5.25 per cent on balances more than £250. Even better - put your money in a mini cash ISA. You get good interest rates AND you don't pay tax on them.

*Look at www. landsbanki. co. uk, Abbey, Alliance and Leicester, Darlington Building Society.

ENERGY BILLS

Prices are rising but it's still possible to save. Last year we switched from British Gas and npower to a new provider and paid by direct debit based on what we had been paying before.

Despite rising prices, we've just had a refund of £175. Simple and easy to do online or over the phone - it took us a matter of minutes - but try and have a few old bills handy to have some idea of what you're paying now.

*Look at: www. Simply Switch, com. www.uswitch.com. Tel: 0845 601 2856

INSURANCE

Never renew any insurance policy without checking what's available elsewhere, either through a website or a broker. Loyalty used to be a virtue that was rewarded. Not any more. After 20 years with the same car insurer, I shopped around and cut my bill in half. All it takes is a phone call and you can save yourself hundreds of pounds.

Even if you're sticking with the same insurer, it's worth a phone call. I once rang up to cancel a policy costing £200 because I thought that was too expensive. "Alright," said the young man on the end of the phone, "How about £100 then?" If you thought insurance was carefully calculated by rooms full of experts weighing every shred of risk, think again - it's sometimes about as scientific as buying cabbages.

TELEPHONE BILLS

Still on the same mobile contract? Ring them, you can probably do better. Threaten to leave and they'll give you anything you ask for. Well, a good upgrade at least.

Still renting your phones from BT? It costs around £3 a quarter to rent a telephone. You can buy one for a tenner. Doesn't take long to recoup your outlay.

It's also worth reading that little booklet BT sends you with the bill. You could well be paying for services such as caller display, which are now free. Only they don't actually tell you.

AND FINALLY...

The easiest way to save a lot of money is not to buy so much stuff. That is really really boring but, sadly, true.