REVIEW YOUR DIRECT DEBITS

WITH so much of our spending done on credit and debit cards and online, it is easy to lose track.

Mackay suggests printing off your most recent bank statements and checking all direct debits and standing orders to ensure you are not paying for things you no longer use.

Old magazine subscriptions or gym memberships you thought you had cancelled are easy to miss if you are not checking your bank statements each month.

Mackay says: ‘Automation makes life easy, but it can also make it expensive. Recent research from Citizens Advice suggests the average person spends £160 every three months on services they do not want or are not using.’