Five Ways to Strengthen Your Budget Without Giving Up Life’s Luxuries, by RACHEL RICKARD STRAUS

The New Year’s resolutions that will make the biggest difference to your bank balance don’t have to be a difficult task.

In fact, you could cross them off your list today.

So before you decide to give up your morning coffee or takeout, consider the following:

1. Move your savings

Switching to a new savings account used to be a fool’s errand. Now you can do it in a few minutes from the comfort of your sofa.

Choose one of our savings guru Sylvia Morris’s top picks in our independent savings tables and you’re set.

2. Set up a standing savings order

If you really want to grow your savings with minimal effort, set up a standing order on your savings account to come out of your checking account right after payday.

This is the easiest way to save, as the money leaves your account before you have time to spend it.

3. Boost pension contributions

Ask your employer if you can increase your pension amount. Adding one percentage point can increase the size of your retirement fund by a quarter, figures from financial firm Wealth at Work show.

For example, if a 25-year-old earning £40,000 a year paid the minimum allowable amount of 5 per cent into a pension, and their employer paid 3 per cent, they would have £198,683 when they retired at age 68.

But if they paid an extra 1 per cent – ​​and the employer matched it – they would have £248,353 – an increase of £49,670, assuming a 5 per cent return on investment after fees.

4. Open a Stocks and Shares Isa

If you have savings that you probably won’t need for five or ten years, consider investing them.

You are likely to make more money from investment returns than interest from savings. Start here with my six golden rules.

5. Read Money Mail, Wealth and Personal Finance and This is Money

As Money Mail turns 59, our commitment to you has never been stronger.

We give you everything you need to know to save more, earn more, and get every last drop of value out of your cash.

We, along with our sister title This is Money, fight for your defense when banks, businesses, organizations and government departments treat you unfairly.

We will alert you to the latest scams; We will reveal the latest investment trends, savings offers and techniques to help you grow your wealth; and we will continue to answer your questions.

If you have a dispute with a company, have a question for our consumer lawyer Dean Dunham or have a company you would like to criticize (or praise), please contact: moneymail@dailymail.co.uk.

On behalf of the Money team I wish you a very happy and prosperous new year.