Feeling the pinch? Then shop around to put your money matters in top shape

That's why financial planning has never been more important. The few pounds a week saved from swapping a Pret sarnie for a home-made version will be dwarfed by the hundreds that can be saved by switching mortgages and credit cards, while using the right savings and investment products can significantly boost returns.

The record low Bank of England base rate means mortgages remain a top way to save. Brokers are predicting the eurozone crisis will nudge up interest rates on mortgages this year, but any Britons sitting on standard variable rate mortgages should check out cheaper lifetime tracker or fixed-rate deals.

Some SVR mortgages charge interest as high as 5% while several lifetime trackers are demanding only Bank base rate plus 1.99%. The cheapest five-year fixed-rate mortgages charge around 3.3% for a deposit of 25% or more.

Elsewhere, there are bountiful new year credit-card deals to be capitalised on. Providers are dangling interest-free balance transfers lasting as long as two years, so anyone with a hangover of Christmas shopping debt will be able to save hundreds of pounds over 2012 by switching accounts.

A big spender with £2500 debt on a credit card would save £423 in 12 months by avoiding the 18.4% interest charged on an average card.

That money should be put towards paying back the debt - which is likely to be more important than ever this year. Although banks have spent the last few years fighting among themselves to top the credit-card best-buy table with the longest interest-free balance transfer deals, experts predict that trend will end.

"Traditionally, borrowers haven't viewed owing money on a credit card as debt," says Kevin Mountford of comparison site Moneysupermarket.

"But it won't be possible to keep rolling over on to new balance transfers forever. The availability of credit is likely to tighten this year. New providers might be less willing to take on old debt."

That's why anyone with credit-card debt should try to pay off more than the minimum each month.

While shopping around for the best deals, don't just look at the length of an interest-free balance transfer - also check out the fee, which usually comes in at between 2% and 3% of the debt.

Meanwhile, those who are able to pay off their credit-card balance in full every month should seek out benefits via cashback accounts.

As for investments, it's important to shop around to find the most rewarding way to squirrel away spare cash. The volatility facing the UK, European and US stock markets means finding the cheapest way to buy, sell and hold will be crucial to maximise returns.

Using the whole ISA allowance - £5340 in cash with an overall annual ISA limit of £10,680, rising to £11,280 from April - will help to shield your cash from the taxman.

Seek out the most generous cash ISA - the top payers are currently just over 3% - by means of comparison sites such as Moneyfacts. Anyone keen to snap up individual shares or buy into a fund cheaply should consider using a "discount broker" such as Hargreaves Lansdown or Chartwell. These are execution-only and don't give out advice.

But the message of the year remains that you should shop around. Never accept a renewal offer - be it for home insurance, a new mortgage after the end of a fixed-term deal or an ISA for the new
tax year - without checking whether a better deal is available elsewhere.

There almost certainly will be, and shaving those extra pounds now will help prepare for the coming year - whatever it may bring.