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Spring clean finances, expert urges

By Sarah Engle, Thu 22 May 2008 - Published in Banking

Now is a good time to have a spring clean of finances in order to ensure the best returns on investment are being made.

An expert has argued that consumers should shop around the different deals on offer from banks and building societies to ensure that they are getting the best value for money.

"There are still opportunities out there to move to better paid products. It's not always the most exciting thing for people but … it's only right that people get the best return they can on their investments," said Kevin Mountford, head of savings and current accounts at Money Supermarket.

He added that a spring clean of finances is just as important as a spring clean of anything else and that money could be saved or made depending on what financial products are used.

Research conducted by Moneyfacts.co.uk suggests that high street banks hold more than £400 billion of consumer savings.