Five ways to bolster your budget without giving up on life’s luxuries, from RACHEL RICKARD STRAUS

The new year’s resolutions that will make the biggest difference to your bank balance do not have to be a slog. 

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

So before you resolve to give up the morning coffee or takeaways, consider these: 

1. Move your savings 

Moving to a new savings account used to be a faff. Now you can do it in a few minutes from the comfort of your sofa. 

Choose one of the top picks from our savings guru, Sylvia Morris in our independent savings tables and away you go. 

2. Set up a savings standing order 

If you really want to turboboost your savings with minimal effort, set up a standing order into your savings account to come out of your current account just after payday. 

This is about the most painless 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 the amount into your pension. Adding a percentage point can increase the size of your retirement pot 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 amount permitted of 5 per cent into a pension, and their employer paid 3 per cent, they would have £198,683 by retirement at age 68. 

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

4. Open a stocks and shares Isa 

If you have savings that you are unlikely to need for a good five to ten years, consider investing them. 

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

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

As Money Mail enters its 59th year, our commitment to you has never been stronger. 

We bring you everything you need to know to save more, make more and squeeze every drop of value from your cash. 

We – alongside our sister title This is Money – fight your corner when banks, companies, organisations and government departments treat you unfairly. 

We’ll alert you to the latest scams; we’ll reveal the latest investment trends, savings deals and techniques to help you grow your wealth; and we’ll keep answering your questions. 

If you have a dispute with a company, have a question for our consumer lawyer Dean Dunham, or have a company you wish to call out – or praise – please get in touch: moneymail@dailymail.co.uk. 

Wishing you a very happy and prosperous new year from the Money team.

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