We all like something for nothing, especially in a recession.
So here are ten financial freebies currently available, from flights and financial advice to cold hard cash.
The deals vary and some are only available to certain groups, such as existing customers.
The information has been supplied by price comparison sites moneysupermarket.com and moneyfacts.co.uk, along with Defaqto, the financial information group.
1. Switching current accounts
Like clearing out of the attic or sitting through an entire episode of Heartbeat, we all dread the prospect of switching current accounts. We fear our direct debits will be lost, our standing orders will left unpaid and we will never receive a payment again. Ever. This is, of course, unlikely, and if you are willing to take the risk, some banks will pay you £100 for your bravery.
At the moment First Direct, owned by HSBC is offering £100 to current account switchers. The bank offers a switching service which should reduce the hassle of moving all those direct debits and regular payments. And First Direct has won plaudits for its customer service, so it might not be as painful as you think.
2. Tesco Clubcard credit card
Tesco Clubcard credit card customers receive points for using their card which can be converted into vouchers for use in Tesco stores, converted into Airmiles or exchanged for Clubcard deal vouchers, which double the value of your points – these can be redeemed on restaurant trips, weekend breaks at hotels in the UK and other leisure activities. Spend £4 at Tesco and it will give you five Clubcard Points. Spend £4 anywhere else and it will give you 1 Clubcard Point.
3. Free credit report
Risk-adverse banks and building societies are going through the credit files of prospective borrowers with a fine tooth comb to uncover evidence of defaults, financial mismanagement or irregularities. This means the quality of your credit report has never been more important and it pays to check it regularly. Experian, the biggest credit reference agency, offers a free 30 day trial of its CreditExpert service, which allows you to scan your report and stay updated with any changes that occur on your account for a month. Just remember to cancel your contract before you are charged for another 30 days.
4. MBNA bmi American Express credit card
This is a quick and easy way to bag youself a free flight to any European destination, providing you have a decent credit record and therefore will be accepted by MBNA. Cardholders with the MBNA bmi American Express credit card receive 20,000 destination miles when you spend £250 on the credit card in the first 90 days. Under the bmi scheme, 12,000 points are required for a return flight to any destination in Europe. Just remember to clear the balance on your card each month and cut it up once you have earned your miles to ensure the flight remains "free". The card has an interest rate of 15.9 per cent.
5. Halifax Reward current account
Halifax is keen to advertise its shiny new "Reward" current account, which pays you £5 a month just for being a customer. Sadly, as we are now only too aware, there is no such thing as a free lunch in finance, and there is indeed a catch with the new Halifax account. The cost of going overdrawn is £1 a day, rising to £2 over a certain limit.
6. Free advice from an IFA
It has been said that free advice is not worth the price, but the alternative, paying for it, can be punishingly high, particularly for those with less to invest. Thankfully, most financial advisers offer introductory "taster sessions" where you can ask an expert questions without having to pay for it. Alterntively, a number of high street banks are running schemes offering customers and non-customers financial planning advice, although these services are unlikely to be impartial, as the Times Money team exposed last month. To find a financial adviser in your area visit unbiased.co.uk
7. O per cent purchase credit cards
This is not technically a freebie but it does save you money if you're in the market for a personal loan. Marks & Spencer offers 0 per cent on purchases for 10 months, while Halifax charges 0 per cent on purchases for the first nine months. Customers who need to borrow cash to make an essential purchase should use the cards as an interest-free personal loan, provided that you can clear the balance in time. The interest rate on both cards after the initial introductory period is 15.9 per cent.
8. The American Express Nectar credit card
The Clubcard scheme is not the only loyalty scheme and if you live nearer to a Sainsbury's than a Tesco, you should opt for Nectar instead. Regular shoppers at Sainsbury's can quickly build a bumper pot of Nectar points if shopping is bought with the American Express Nectar card. Cardholders can earn 2 points for every pound spent with the credit card and another 2 points for shopping at Sainsbury's. The points are worth 0.5p each. The interest rate on the card is 18.9 per cent.
9. Childrens accounts
It is beneficial to get children into the habit of saving sooner rather than later. The Abbey Flexible Saver account includes a free wallchart to help your child keep track of his or her deposits. The Lloyds TSB Young Savers account comes with a free moneybox.
When parents sign up to KidStart.co.uk, they earn up to 20 per cent back on purchases made on their debit or credit cards at hundreds of online or high-street retailers. This cash is deposited in either a Child Trust Fund or a nominated children's savings account. It is free to join, and is also open to grandparents or friends.
10. Weekly Money Bulletin
Last but by no means least, Times Money offers a free weekly e-mail bulletin sent directly to your inbox every Wednesday. The bulletin contains money savings tips and advice.
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