How will you manage your financial resolutions?

The new year has already been underway for several weeks but those yet to set their resolutions for 2010 may still find there are a number of ways in which they can resolve to get their grips with their finances.

Britons keen for getting on top of money management to be their main resolution for 2010 may be interested in the comments of one writer.

In a lovemoney.com article, Sarah Coles notes that tackling debt is “perhaps the most common financial resolution of all”.

And those looking to lower how much they owe may wish to consider opting for a 0% balance transfer deal, with the Virgin Money card and its 16-month interest-free period particularly commended.

Opting for this specific card “will allow you to pay off your debt more quickly, as 100 per cent of your payments go towards clearing your debt – potentially saving you that £2,000 in interest”, Ms Coles points out.

Taking such advice could be particularly advisable, as she notes that credit cards “can cost a horrifying sum”.

Britons keen for this year to be a financially successful one may also want to take the time to compare deals to ensure they make the most of their savings.

The lovemoney.com writer points out that when assessing the saving options available to them what may first appear to be an attractive rate may not provide such competitive returns when the tax deductions are taken into account.

However, one possible way to counter this could be to seek out a cash ISA. By doing so, consumers are reminded that they will not be charged any interest on their money, meaning that the headline deal advertised will be the rate that is applied to their savings.

It was also suggested that seeking out competitive current accounts could help people to make the most of their money.

Similar advice was recently put forward by Mark Adams, also of lovemoney.com. Writing in the publication earlier this year, he noted that it has never been easier for consumers to seek out an attractive deal on their money, with the Premier Direct Current Account and its 12-month 0% overdraft feature particularly praised.

UK Price Comparison website http://www.which4u.co.uk Compares Credit Cards, Savings Accounts, Fixed Rate Bonds, Bank Accounts, ISAs, Loans, Mortgages, Insurance, TV & Broadband and Gas/Electric bills to find the best UK deals

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