Can your friends and family really save you money? Relying on others to manage or fix your finances isn't going to make any difference in the long term, but there are ways the people around you can save you hundreds of pounds a year – and it's all down to a little caring and sharing.
Rather than buy everything we need, website Topcashback have found that we can each be an average of £407 better off if we share products, tips and services.
So, rather than buy new clothes, you could borrow from friends. If you need a drill to hang some paintings, why not just see if your neighbour can lend you theirs?
Likewise, there's no point subscribing to a magazine if your friend already does. The same goes for memberships and accounts, especially things like TV and music streaming.
If you're an occasional driver, you could even share your car with other family members – saving hundreds in insurance alone each year.
One of the biggest money savers in Topcashback's research was the sharing of money-saving tips and deals – so why not send this post to your friends on Facebook and Twitter!
What to watch out for
Despite all these benefits you should be careful.
Unfortunately, some things aren't meant to be shared, especially memberships and digital subscriptions, so it's worth checking the terms and conditions of the service to make sure you are allowed to let others use them. You could end up having your account closed or membership revoked, and may lose money as a result.
It's also worth checking insurance for any bigger items. Lending your laptop to a mate might seem fine, but if they break it, will you be covered?
And there's no guarantee you'll get the item back in the same condition. Do you trust your friend to pay up for any loss or damage?
Finally, is it worth falling out with your other half or colleague if you have different views on who should pay? Plus what happens if you both want to use the service at the same time?
This article is provided by the Money Advice Service.