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It’s a New Year and the air is full of resolutions and good intentions, and as with every New Year the vast majority of us will be filled with motivation for getting our personal finances organised, and to that end there’s no shortage of Free Debt Advice articles doing their rounds online, but of all the possible courses of action that can be taken now to ensure you personal finances have the best possible year, perhaps the most important of all is don’t overlook the potential of getting the basics sorted, especially when it comes to organising those regular monthly bills and credit card debts.

1: Switch your gas and electricity supplier: Switching gas and electricity suppliers usually takes around 4 to 6 weeks to complete but it needn’t be a hassle. If you have meters and equipment already installed in your property, there will generally be no interruption to your supply. Switching suppliers can save you a lot of money if you shop around. The market is very competitive at the moment, so 2011 could be the best time to reduce your gas and electricity direct debit.

2: Cancel your gym membership: It is estimated that a person will spend an average sum of £17,500 over a lifetime solely on gym membership. It is important to weigh up how important going to the gym is to your lifestyle. If you don’t go regularly, then perhaps that amount of money could be better spent elsewhere?

3: Review your TV subscription: Having satellite television installed in a home is seen as the norm in today’s society. Subscription companies such as Sky are making so much money from these deals. Are you getting your money’s worth though? How many programmes do you watch that you could actually get with a limited package instead of the complete package? For example, renting films is surely a much cheaper option than paying to watch Box Office releases. Whilst having to pay out for a TV licence, the last thing you need is to pay over £50 a month to get channels that you don’t even watch.

4: Reduce bill payments to the required level: Communicate with your various providers, such as your energy and service providers. It is always worth checking up on your bills every now and again to ensure that you really are getting the best deal. Also, double check that your direct debits have changed accordingly if you know your usage has reduced a significant amount. Stay clued up and aware of your outgoings to ensure you do not lose unnecessary money.

5: Move to a free current account: What benefits do you have with your current account? Evaluate how often you make the most of these benefits. For example, do you really need the discounted mobile phone insurance cover when you’re phone is over 10 years old? Or do you really need the travel insurance considering you don’t go away often? Ask yourself these questions to decipher if your current account is in actual fact the right one for you.

6: Consolidate your debts: As we all struggle with the aftermath of debt following an overindulgent and expensive Christmas, it has never been so important to regain control of your finances. It can be quite overwhelming if you have numerous debts and it can be hard to know where to start. Consolidation is the first step. Speak to a financial advisor who can guide you into the best option for your circumstance. Although, by consolidating your debts into a manageable level you can significantly reduce the level of interest you pay.

7: Pay your car insurance up front: Stretching car insurance premium payments over a longer period of time can end up being much more expensive than paying it all in one go. Most motor insurance providers offer to split your payments into 12 monthly payments, although these can carry with them high interest rates. So make sure that wherever possible, you pay it all in one lump sum. Plus, by making the full payment you are assured piece of mind by not adding yet another direct debit to your account.

8: Change your broadband provider: How long have you been with your current internet service provider? If the answer is longer than a few years, it may be worth shopping around to compare your current deal with others on the market. With the recent introduction of fibre-optic broadband, the internet market has some very attractive deals at the moment as competition between providers’ increases. You could save a substantial amount by switching provider.

9: Remortgage: Now that Christmas and New Year is out of the way, there is a returned focus onto the consolidation of debts. Remortgaging your property could be the perfect way to release some equity to pay off your debts. Furthermore, if the introductory offer on your original mortgage has expired and your lender has transferred you onto their Standard Variable Rate (SVR) you are probably spending more than is necessary. Lender SVR’s generally have much higher interest rates than the current remortgages on offer, so make 2011 a year that you consider a remortgage.

10: Cancel magazine subscriptions: Magazine and Newspaper subscriptions can cost more than you’d expect, around £40 to £50 every year. Evaluate how vital these subscriptions are to you, can you live without them in order to reduce the amount of direct debits coming from your account? Or if you do want to regularly read a newspaper or magazine, then consider if it would be cheaper to walk to your local shop, or to purchase one from the supermarket next time you do your food shop.

As you can see these ten simple steps could make a big impact on your personal finances this year, as the old saying goes, look after the pennies and the pounds will look after themselves.