According to comparison site Gocompare.com, only 2% of Brits changed their mortgage provider in the last year compared with 11% changing jobs and 3% changing their partners.

Cash-strapped Brits were also more likely to change where they shopped than where they banked. 18% of people surveyed said that they had changed their main grocery shop, while 12% had changed their usual clothes store and one in ten shopped around for a better deal when filling up with petrol or diesel.

But, only 7% had looked for savings by switching their current account and 6% from changing credit card provider.

Claire Peate, Gocompare.com’s customer insight manager, said: “Many Brits are feeling squeezed by rising prices and flat wages – 41% of people taking part in our survey said that they are financially worse off than they were this time last year.

“One of the best ways to save money is to get into the habit of regularly comparing products and prices to see if you can switch to a better deal. This thrifty habit will not only help you to save money on your weekly food shopping bills and each time you fill up your car – but, could make you significant annual savings on your insurances, utility bills and other financial products.”

Top switching tips to get the best deal on their financial products and household bills:

• Plan ahead and diary key dates such as renewal dates, the expiry dates of fixed rates or tariffs, the end of introductory offers, etc. in order to give yourself time to review your arrangements and make sure that you still getting a good deal;

• Don’t accept your insurance renewal quotes or energy tariff changes without checking that the new price you are being offered is competitive;

• As well as comparing prices and headline rates, check the small print of the deal you are being offered – make sure that you understand all the charges, any penalties, exclusions and terms and conditions you will be required to meet;

• Use a comparison site – they provide quick and up-to-date information on a wide range of financial products and services.