Ahead of Chancellor George Osborne’s Budget, price comparison site Moneysupermarket has outlined ways Brits can save money, without the need of the government.

It highlighted mortgages as the biggest area a household can make cost savings. Its study said someone with a £150,000 mortgage on an average standard variable rate (SVR) of 4.85% could save themselves £2,250 a year switching to a two-year fixed rate mortgage from Chelsea Building Society at 1.44%.

It urged savvy homeowners to look at moving other borrowings like credit cards and personal loans in order to save money.

Switching to a better current account and moving your energy supplier can also cut costs. Some people could save as much as £3,500 over 12 months, it said.

Dan Plant, editor in chief at Money Supermarket, said: “The Budget is often a damp squib when it comes to you or I increasing our bank balance. Rather than wait for the Chancellor, it is quicker, and more rewarding, to take control of your own bills, savings and spending – it’s possible to save £1,000s, much better than a couple of pence off a pint of beer.

“Anyone with outstanding debts should minimise the interest they are charged, both through gaining control of monthly outgoings so you can focus on bulking up repayments, and by switching to cheaper ‘balance transfer’ credit cards.

“Slashing the cost of debts can mean you pay them off earlier or make them less of a burden on your wallet. Apathy is rarely rewarded and switching from average deals to the market leader on a range of financial products could save households £3,500 over twelve months.”