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Britons 'spending too much on general expenses'

Many Britons are overspending on their general expenses and ignoring better deals, according to new research.

A study by Moneysupermarket.com calculated that people could save more than £5,000 if they took the time to look at their finances and transfer their financial products onto more competitive deals.

The price comparison site highlighted how savings could be made on numerous expenses, such as mortgage payments, home and car insurance, utility bills and personal loans.

It has issued the advice ahead of the bank holiday season, which is traditionally the time for people to consider funding major home improvements.

Stuart Glendinning, managing director of Moneysupermarket.com, commented: "Many people look to make home improvements over the bank holidays weekends and it can end up a costly exercise.

"However, sorting out their finances first means they can make some significant savings which could really boost renovation plans."

This follows advice from the British Insurance Brokers' Association, which urged homeowners to make sure that any home improvements are covered by their insurance policies.

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20/03/2007 16:50:23

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