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JANUARY is a financial struggle for many, so to help Martin Lewis has revealed his seven New Year money-saving resolutions.
The best part? They don't require much effort and could save you THOUSANDS of pounds.
The founder of MoneySavingExpert appeared on ITV's This Morning today to share some big and easy ways to save cash.
Martin said: "Diets and money are the two things people really focus on in the new year.
"People are skint - you get paid early in December and the same time in January.
"I'm not a big fan of New Years resolutions generally.
"But these are all things you can do now and then forget about it, because you've sorted it for the year."
From ways to cut energy bills in five minutes to clearing credit card debt - here are Martin's New Year resolutions for 2020.
It's easy to forget about standing orders and direct debits, but make sure you don't waste money on things you no longer need.
Martin suggests taking five minutes to scan your bank accounts online or via statements to cancel any unnecessary payments - just make sure you're out of contract first.
It's worth doing as one woman named Becky realised she was still paying for an old gym membership (£330 per year) two years after she moved, Martin said.
She also cancelled a phone insurance plan for £10 a month, as her device is too old so it's no longer worthwhile.
Mortgage rates have dropped near all-time lows, with some two-year fixed rates plunging below the magic 1 per cent rate, Martin said.
Because of this, he's advising all home owners to check you're on the best deal possible.
Just make sure you're free to leave without penalties before doing so.
Moneysupermarket and Moneyfacts have mortgage sections so you can compare rates and all the banks and building societies have their offers available on their sites too.
If it looks like you can save, Martin suggests using a mortgage broker who'll be able to clarify which mortgage lenders are most likely to accept you.
A broker will typically cost between £300 and £400 but could help you save thousands over the course of your mortgage.
More than one million married couples are missing out on a tax break worth up to £1,150, Martin said.
The so-called "marriage tax allowance" is a tax perk for married couples and those in civil partnerships.
It applies to couples where one is a non-taxpayer (earning less than £12,500) and the other is a basic-rate tax payer (earning less than £50,000 a year).
The system allows couples to transfer 10 per cent of their personal allowance (the amount you can earn tax-free each tax year) between them in order to reduce their yearly tax bill.
This year that's worth £250, but you can backdate your claim to the 2015/2016 tax year, meaning you could get up to £1,150 back.
TO be able to claim your tax break you need to tick all of these boxes:
You can’t claim it if:
For more information visit
If you've had a credit card for a while without clearing the balance, then you're probably racking up lots of interest.
To reduce credit card debt, Martin advises you to shift the debt to a 0 per cent balance transfer card.
The cards give you the chance to pay off your debt over longer periods of time.
Martin recommends , which comes with no balance transfer fee and a 0 per cent interest period of 18 months.
If you're an existing customer, you can get a longer interest-free period of 20 months.
Or if you don't mind paying a 3 per cent fee on your balance transfer, Virgin Money offers 0 per cent in interest over 29 months.
Just keep in mind that only those with the very best credit ratings will be offered the top deals.
You can use to see what deals you are likely to be accepted for.
SHIFTING your balance can be a great way to cut the cost of your debt. But you must use them properly so you don't just add to it.
Always clear your debt - Credit card firms don't offer these deals out of the goodness of their hearts. They rely on you not clearing your balance by the time the 0 per cent deal comes to an end so it can start charging you interest.
Always make your payments - If you don't keep up with your monthly payments, you could lose the 0 per cent offer and start being charged interest. Always try and pay-off more than the minimum payment too to clear your debt quicker and don't spend on the card either.
Check your deal - Like with all credit cards, you might not be offered the headline deal if you don't have the best credit history. Use to see what deals you are likely to be accepted for.
Even if you're still young, Martin recommends sorting out a power of attorney for when you get older.
It's a legal document that lets you appoint one or more people (known as "attorneys") to help you make decisions if you have an accident or an illness and can't do so yourself.
It could come in handy as one in three over-65s die with dementia, and many also suffer from strokes early on.
Without a power of attorney to get access to your funds, families generally have to make a costly attempt to apply in court.
You can apply for one on the for £82.
If you have complex affairs, Martin recommends contacting a solicitor for help.
More than 50 per cent of Brits are still on pricey standard variable tariffs among the big six suppliers, meaning you pay over the odds for your energy.
The price cap for an average customer currently sits at £1,178 per year, but this doesn't mean it's a good price, Martin warned.
The cheapest deals on the market are currently around £830 per year, and around £870 per year with a big six provider.
To save up to £300 on your energy bills, simply put in your details into a comparison site and find your cheapest deal.
If you want a name you know or one with a good service record, just scroll down the results until you find it.
Once you decide on a deal, it's worth checking cashback websites including Top Cashback and Quidco whether you can get some money back.
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Last but not least, Martin's seventh New Year resolution includes checking how much you receive on your savings.
Savings rates have been low for a long time, but there's no need to keep your cash in accounts giving you just 0.1 per cent in interest.
Martin said the very minimum you should be getting is 1.41 per cent, which is the best paying easy access account on the market.
The account by Shawbrook Bank allows you to make unlimited withdrawals, although you can only take out a minimum of £500 at a time.
If you're willing to lock money away, you can earn more money. We've made a round-up of the best fixed rate savings accounts here.
Last month, Martin Lewis explained how pensioners and households on a low income can get £140 off their energy bills this winter.
Plus, he's revealed that drivers can slash hundreds of pounds off their car insurance renewals by ditching comparison sites.
And if you've paid hefty overdraft fees, the money guru has shared how to claim it back as the rip-off charges were banned last year.
