Financial healthcheck 'sensible in 2008'

With the new year in full swing, consumers are likely to be trying to keep up with the good intentions of their latest resolutions.

And the Cheshire Building Society is advising that a financial healthcheck could be an important undertaking in ensuring that consumers' personal finance situations remain in good shape.

Among its suggestions are to keep a diary of spending - which can help with money by identifying where unexpected costs lie.

Starting some fresh savings is also recommended as a means of creating funds for the future, while starting a pension can ensure help with finance is available in the long term.

"Cancel any monthly direct debits you are paying for and not using. Direct debits for gym memberships are often forgotten and rarely used, so cancel the monthly payment and take up jogging," the building society adds.

In recent weeks, a number of financial institutions have recommended starting saving for next Christmas as soon as possible to alleviate some of the burden and avoid trouble with debt in 2008.