10 New Year's resolutions that will save you money

Many New Year's resolutions cost you money - think expensive gym memberships that never get used or language classes that are abandoned halfway through.

Indeed, according to a survey from TalkTalk last year, we spend a whopping £21,000 on New Year's resolutions over the course of a lifetime - mostly on gym memberships, new trainers and health foods.

This year, though, why not try and make up for some of your more unwise resolutions in the past and focus instead on resolutions that will save you, rather than cost you money?

We suggest our top ten.

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Give up smoking
This is much easier said than done, of course, but can save a huge amount of money - well over £3,000 a year for a 20-a-day smoker. If going cold turkey's too much for you right now, e-cigarettes can work out a fraction of the price.

Avoid impulse buying
Always set a budget and make a list before shopping - and never shop for food when you're hungry, as you'll invariably spend more on junk. When shopping for clothes, don't get carried away in the sales: there's a reason that badly-cut top hasn't sold. If you really can't trust yourself, leave your plastic behind and take a fixed sum in cash.

Go through your bank statements with a fine-tooth comb
It's surprisingly easy to let standing orders and direct debits carry on long far longer than you intend. You may have thought you were signing up for a temporary package such as an Amazon Prime trial, and failed to read the small print; or be forking out for insurance on a product that you no longer use. Check every month for a year, as some firms will bill you quarterly or annually.

Sort out your debts
Concentrate on the really vital payments first - mortgage, utilities and the like. As for credit card debts, if you have several to pay off, clear the ones with the highest interest rates first - but make sure you always make the minimum payment on the rest. If things are difficult, speak to your lenders, as they may be able to come up with a more manageable payment plan.

Shop around for a better phone deal
Many people pay for calls, texts and data that they never use. Make sure you know when your contract ends - most contracts combine the cost of the tariff and the handset, and some carry on charging the handset portion long after you've actually finished paying it off.

Save on energy costs
Switching from traditional bulbs to energy-saving versions can save you £60 a year - insulating your hot water cylinder a similar amount. Find and seal draughty gaps, put reflecting foil behind radiators, and consider replacing old, energy-hungry appliances. Don't leave devices on standby.

Declutter your house
According to auction house Bonhams, there's as much as £60 million of jewellery alone hanging around in the nation's cupboards and attics. And just getting rid of old toys, furniture or clothes can bring in a surprising amount. Try sites such as eBay or Gumtree, or simply hold a garage sale.

Shop around for utility suppliers
Regulator Ofgem has created a guide to let you work out whether you'd be better off buying your gas and electricity elsewhere. While there's no guarantee that the lowest tariff now will stay that way, there may be big savings to be made. The government's been trying to make it easier to change suppliers - it now generally takes less than three weeks.

Haggle when renewing a contract
Many insurance companies, phone service providers and the like offer much better deals to new customers. Even if you're happy to stay with the same company, it's worth asking for one of these deals. Tell them you're thinking of leaving, and make sure you know what's being offered elsewhere.

Start saving
Give up one small thing, and put the money you save aside. Just doing without a £3 cup of coffee on your way to work, for example, will net you £780 over the course of a year. Swap the bus for a bike, make your own packed lunches, and you could save yourself thousands.