Show more resolution on your finances in year ahead

balance transfer card with an interestfree period of 27 months and repaid £100 a month, you would clear the debt in that period and save £880 in interest.”

Beware using zero per cent credit cards as an excuse to roll over debts rather than paying them down.

TIDY UP YOUR DIRECT DEBITS

It is worth taking a little time to work through your current account and credit card statements to identify and cancel subscriptions, direct debits, memberships and standing orders you no longer need or use. Sanders said: “Always check for exit penalties or notice periods before cancelling.”

You should also check whether you can get better deals on your broadband, digital TV, mobile phone and home energy bills, said Alex Perrin, chief executive of IsMyBillFair.com: “You do not even have to switch provider, if you are paying too much you could call and haggle for a better deal, or we can do it for you.”

‘Dig out any savings, pensions and mortgage statements to get a full picture of your situation’

PUBLIC PROMISE

Suzanne Lewsley, chief deposits officer at Ford Money, said people are more likely to keep a promise or resolution if they make it public: “Post your money resolution on your Facebook or Twitter page to make it ‘official’. If that is going too far then decide on a resolution with a friend and motivate each other to stick it out.”

Jeanette Makings, head of financial education at Close Brothers, says if you are still struggling despite carrying out a detox, then you might need to seek help: “Your employer may provide debt advice through an Employee Assistance Programme or alternatively try Citizens Advice.”

StepChange Debt Charity also offers free help, but avoid commercial debt-counselling companies that charge a fee for their services.

Now is also a good time to write or update your will, something three in five adults have not done, according to research from Royal London. Patel said: “It is especially important for parents.”

Where appropriate also consider taking out life insurance and protection such as critical illness cover. She added: “Pay-outs can make a real difference to spouses, children and anyone in your family dependent on your income. Money spent now to protect your family could bring important benefits in the future.”

By cleaning up your finances today you can make a healthier tomorrow, and avoid passing on a toxic legacy to the next generation.