Financial product switching demonstrates “consumer power”

Switching a financial product is a "real expression of consumer power".

This is according to ClearDebt, which thinks that people should constantly be looking for the best deals when it comes to outgoings such as energy bills, home insurance and mortgages.

The debt management advice firm noted consumers should treat switching as a "regular part of their financial lives", as by doing so they will encourage firms to offer better value for money.

Research by Gocompare.com has found that 81 per cent of people in the UK have switched at least one of the ten most popular financial products in search of a better deal.

This demonstrates how there is an appetite for a savvy approach to bills, as Britons seek to minimise their expenses.

People who sit back in the hope that they are already on the best deal would be better off double checking to make sure.

By Amy White