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MAIL MONEY: pounds 2750 GIFT TO OUR READERS; Follow my tips and save a family fortune.

HOW would you like pounds 2750 to spend on anything you choose?

That's a pay rise of more than pounds 4100 before tax and National Insurance.

Well, that's my New Year gift to you as the festive bills thud on to your doormat. All it costs is a few hours on the internet and the phone.

Here's how to do it: MORTGAGE: Broker Charcol says a borrower with a pounds 55,000 repayment loan who moves from a standard variable rate of 6.8 per cent to a market-leading rate of 4.64 per cent from Alliance & Leicester would save more than pounds 66 a month, or pounds 800 a year, after a pounds 75 booking fee. Saving: pounds 800


Moving a pounds 500 debt from a store card at 29.9 per cent plus pounds 500 from a credit card charging 15.9 per cent to 0 per cent on balance transfers for 12 months (e.g. Lloyds TSB Advance) will save more than pounds 125 if cleared in 12 months.

If you have a personal loan, shopping around for payment protection insurance can save pounds 22.50 a month, or pounds 270 a year(based on a pounds 5000 loan over three years). Saving: pounds 395

CAR INSURANCE: Kate Arm-strong, of car insurance search site, says: 'We found 60 per cent of drivers fail to search for cheaper car insurance, costing them more than pounds 150 in extra premiums a year.' If you already shop around, you can cut your costs by paying annually, reducing mileage and increasing the excess. Saving: pounds 150

HOUSEHOLD BILLS: Tim Wolfenden, of comparison website, said: 'A medium user can save over pounds 200 a year by switching from their gas and electricity suppliers, as well as changing their payment method to direct debit.'

Save a further pounds 170 by changing phone supplier and paying by direct debit.

Meanwhile, direct debit firm BACS say you could save pounds 50 by paying other bills (e.g. breakdown cover and satellite TV) this way. Saving: pounds 420

HOME AND TRAVEL INSURANCE: say you could save pounds 20 on buildings and contents insurance by shopping around and pounds 20 more by paying annually. Shopping around for travel cover could save almost pounds 70 a year. Saving: pounds 110 LIFE COVER: Life insurance specialist Lifesearch reckons people can save an average of pounds 210 by tracking down a better deal.

Quitting smoking could also cut premiums by around pounds 55.

Saving: pounds 265OVERDRAFT: Which? calcu-lates overdrawing on your current account without permission by pounds 50 for three days every four months could cost more than pounds 580 a year in fees.

Switch to a provider such as Alliance & Leicester which offers interest-free overdrafts.

Saving: pounds 580 SAVINGS ACCOUNTS: Earn an extra pounds 45 a year interest by putting pounds 1000 of savings into a tax-free account, e.g. Abbey's Postal Isa, paying 5.35 per cent, rather than leaving it in a taxable deposit account paying 1 per cent. Saving: pounds 45
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Title Annotation:Features
Publication:Sunday Mail (Glasgow, Scotland)
Date:Jan 2, 2005
Previous Article:MAIL MONEY: Home prices should be safe as houses this year.
Next Article:MONEY BOX: I'm losing pounds 1600 on pension; Lesley Collins, head of Independent Women Financial Advisers in Edinburgh and Glasgow, answers your...

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