HERE are eight mistakes I hope I won’t make in 2008:

- Trust what any financial company tells me, whether it’s a bank, insurer, fund manager, investment adviser or mortgage broker.

Most of what they say will be honest and accurate, but unless you double-check it, you cannot spot what is devious, deceptive or just plain nonsense. While you are at it, go over old statements, including direct debits, and delete any forgotten ones, like last January’s gym membership.

- Forget to pick as many brains as I can, from bank managers to financial planners, whether they are independent or not.

Ideas are going to be at a premium this year, so I’m going to collect as many as I can. While 90% will be rubbish, one of the other 10% might be enough to make my year.

And I’m not just talking about discovering possible goldmines. Raising your hand early to discuss problems can be just as valuable.

- Keep it all in my head. Just as a food diary is an effective way of losing weight, so a money diary makes you think about your sillier habits or daft ideas. I promise you will spend less.

Start by listing your current income and debts to give you an idea of what is most urgent, then you can see if you are heading in the right direction.

While you’re getting organised, save up for an Apple iPhone: as an all-in-one planner, contacts book, notebook, mobile internet, map, stock alert and calculator, it’s the best going. Writing a will is another useful organiser, because it makes you concentrate on what and who are important to you.

- Assume I’m getting the best deals on energy, phone, mortgage or credit card, and home, car, travel and life insurance.

They are changing so fast these days, it’s worth comparing what you are paying or receiving with the latest leaders – starting with our Best Buy table on page 7.

And don’t fall into the trap of imagining that you will save by taking insurance tacked onto something you are buying, such as a gadget or holiday. This isn’t like buying in bulk to save money: retailers regard these add-ons as easy money, without any regard for your personal circumstances. An annual travel policy is best for anyone making more than one trip a year.

- Neglect the internet. If you use it in your work, as journalists and millions of other people do, it is easy to assume that it is an essential everyday tool for everyone. According to the National Statistics Office, two in three of us have internet access at home although too many still regard it as a nerds’ domain. Much of it is, but unbelievers have to realise it is a huge source of information, not just for price comparisons but also for the latest news and views. Without it you are missing money-making opportunities.

- Pay a penny in interest if I don’t have to – especially on credit cards, and as for store cards, grab the discounts but don’t even think of paying less than the whole bill in full.

If you have to borrow, use the value of your house to tap big, long-term money at lowest rates. Otherwise, a personal loan is cheaper than card debt.

Moneyexpert.com says nearly 40% of all bank or building-society current accounts offer an interest-free overdraft limit, and the average amount of free cash can be as high as £3,500. But fewer than half automatically set up an overdraft for customers straying into the red: you have to demand your rights.

Don’t pay bills early or late, but on time. With regular payments, such as credit card or utility bills, you can set up an alert to remind you when to pay – or you can do it yourself.

Check the rates for paying annual bills monthly so you can budget more cleverly and spread the cost. It may pay to borrow and pay it all early, but some firms charge you nothing for putting monthly instalments on direct debit.

- Forget to start a new monthly savings plan, preferably with tax relief, such as an Isa (individual savings account) or pension scheme.

Lump sums are fine to invest if the money is lying around doing nothing, but for most people a monthly arrangement takes the cash out of your bank account without you noticing.

Alliance & Leicester has some good monthly plans, but ensure you can get hold of your money when it comes to an end.

- Leave my portfolio to manage itself. The forecast is stormy, for several months at least, so review your investments regularly. Companies often put out statements without publicising them, and it may be too late by the time your copy arrives in the post.

Who are you?

TO combat the growing threat of ID theft, Capital One has linked up with Equifax, the credit-reference agency, to offer a free service alerting customers to changes in their credit rating, including loan applications made in their name with or without their knowledge.

In return for registering online, customers will also receive two free credit reports each year. Worth having.