Ten-minute Money Moves

Smart and speedy 10-minute tactics to help you take hold of your finances.

• Register for online banking. Make payments quickly, check you balance more regularly and stay on top of things. Simpley apply on your bank's website and fill in a few personal details.
• Change bank accounts. Switching current accounts takes up to seven days but it only takes 5 to 10 minutes to apply. Grab your address details, information on salary and other income sources, and current banking details. After that, thanks to simple switching rules, the banks will do the legwork for you.
• Check your council tax band. These were set in 1991 based on house values at the time (2003 in Wales), so there is room for error. Check what band you are in through the Valuation Office Agency in England and Wales, or the Scottish Assessors Association in Scotland, and then ask a neighbour in a similar property if they are in the same band. If their band is lower, you may be able to make a claim. Go to goodhousekeeping.co.uk/how-to-claim-council-tax
• Shred some paperwork. Ditch any bank statements and financial paperwork that is more than a year old. Shred or rip it up if it contains your name or any financial details. If you are self-employed, the tax man recommends that you keep records for five years, but this need not be hard copy. Back up the info digitally, then shred.
• Get into the eBay habit. Got bags of unwanted possessions still around that you want to sell on eBay? Pick the one item most likely to sell, and post it online. It's very easy - take some snaps, then use the (free) app on your smartphone or tablet to start selling.
• Money Dashboard app. Free to download from the Apple and iPlay stores, it synchs to your bank accounts so you can check you balance. The graphs showing spending types and trends are useful - if a little alarming if you've been on a spending spree.
• Tip N Split app. A simple, free tip calculator for iPhone and Android. You could use a calculator but this app is faster at working out amounts per person, and the total and per person tip. Great when abroad too - for example in the US, where tax is charged on the meal as well as service.
• Go through your purse. Have a rifle for credit and store cards you no longer use. It's a useful prompt to contact creditors of cards you want to close.
• Tot up your loyalty points. Around 24% of us lose these benefits because we let them expire. Check your points value online at boots.com, nectar.com and tesco.com/clubcard/ or ask in store next time you are in the shop.
• Write your will. Some 56% of UK adults do not have a will. Use the Law Society's online tool (solicitors.lawsociety.org.uk) to find a solicitor in your area or call 020 7320 5650. It only takes 10 minutes to get started.

Feature in Good Housekeeping October 2014