If you’re feeling particularly blue about your financial situation, comparison site Comparethemarket.com says you can save over £1,000 on your household bills in just one hour.

According to the firm, it takes the time of the average lunchbreak to potentially save as much as £1,500. This is broken down into 30 minutes shopping around for the best policies and prices, and then 30 minutes for the actual switch.

Here are the potential savings based on Comparethemarket.com stats:

• Energy: On average, customers could save £273.56 on their annual energy bill for gas and electricity
• Home insurance: 50% of customers could save up to £61.62 on their buildings and contents insurance premium for the year
• Car insurance: 50% of customers could save up to £203.80 on their insurance premium for the year
• Cards: 50% of consumers could save up to £984.17 on interest payments when switching their credit card to a 0% balance transfer card (assumes rate of 17.9% on a £2,000 balance).

Simon McCulloch, director of insurance at Comparethemarket.com, said: “After the jovial nature of the festive season, it’s no wonder people feel a little low as everyone heads back to work and the New Year swings into gear.

“Following the inevitable overspending at Christmas, it is easy to feel panicked about your personal finances, especially when your monthly bank statement or credit card bill comes through the letterbox.

“One way to alleviate these January blues is to take active steps to save money, such as shopping around for the best deals on insurance, energy and credit cards, where many people could save hundreds of pounds by switching providers, ensuring they get the best deal available and making sure unnecessary overspending does not extend into 2016.”

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