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Getting a good deal on financial products can help cash-strapped Britons cut down on their outgoings.

Such is the assertion of Hayley Parsons, Gocompare's chief executive, who states that 60 per cent of adults will be making financial new year's resolutions in a bid to organise their money.

Of these, 42 per cent wish to slash their household outgoings and she recommends using a comparison site to find the best offers available.

Meanwhile, 48 per cent of people making money promises want to reduce their loan or credit card costs and get themselves out of debt, the survey reveals.

Indeed, secured loans could have a lower annual repayment rate than other loans and therefore may be an option for Britons looking to cover large ventures.

"However, the survey shows that 58 per cent of resolutions falter in less than three months, so people are going to need some real help to keep on track," Ms Parsons advises.

In related news, taking a mortgage payment holiday to reduce outgoings could lead to a higher interest bill further down the line, according to Fool.co.uk.