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Read the tips below:

1) Review your mortgage

Typical savings for someone on a lender's SVR (Standard Variable Rate) with a �100,000 interest-only mortgage would be around �2,000.

2) Look at your current account

Either shop around to get a current account that pays more interest, or hold the major part of your cash in an internet savings account.

Some internet savings accounts offer interest rates of over 4%. You can transfer money into your current account as and when you need it to pay bills.

3) Transfer your credit card balance

If you have an outstanding credit card balance, think about switching to a card that offers 0% on transfers for a fixed period.

Use this period to pay off as much of the outstanding balance as you can and be very careful about spending further!

4) Cancel old or non-essential direct debits

Look at your bank statement and take stock of all the direct debits you have for things like the gym and other subscriptions.

Which do you use and get value from? Once you have decided, cancel the rest.

The reason why some companies want you to pay by direct debit is that customers often forget to cancel even when they do not use the service.

5) Review your utility bills

Switching gas and electricity suppliers could save you upwards of �100 a year.

At the same time, make sure you still want any boiler/drains or other additional covers you may have purchased in the past. If you do not, cancel them.

6) Haggle

You would be surprised how much money you can save by asking!

This is especially true on larger items and stores will often give you a discount for paying in cash.

7) Review your home telephone and mobile phone arrangements

You will almost certainly be able to save money.

Other providers are very likely to be able to offer you a better deal, if you shop around.

8) Buy annual travel insurance if going away more than once

If you travel more than once in a year, think about purchasing an annual travel insurance policy.

They usually work out much cheaper than single trip insurance and will cover you when you are away for short breaks too.

9)Take unwanted stuff to car boot sales!

All those unwanted things stored at the back of the cupboard or in the attic could be worth more than you think.

10) Check your tax code

As an example, a 67-year-old who discovered that he had not been given the higher personal allowance for two years found he was entitled to a rebate of �625.

Hey Big Spender! was broadcast on Wednesday, 28 January, 2004, at 2100 GMT on BBC One.