WITH the recession hitting finances everywhere, there could not be a more fitting time to give your own money matters an overhaul.

As part of the Mail's Bounce Back campaign – which aims to provide support to individuals and businesses during the recession – we asked experts from the region for practical advice on saving, budgeting and borrowing to find out how to make every penny go further.

As individuals and businesses struggle to balance the books, financial organisations from East Yorkshire say the recession has brought increased demand for expert help.

John Smith is secretary of the Hull and East Yorkshire Credit Union, which is celebrating its 10th anniversary this year and has branches in Hull, Beverley, Driffield, Bridlington and Goole.

Credit unions are owned and controlled by their members, providing credit at reasonable rates and other financial services.

Mr Smith said the union was getting busier by the week.

He said: "Only last month we passed the 6,000 member milestone, and we also have 550 junior savers.

"The recession has brought more people through our doors as they regard us as a trusted source of affordable credit.

"As well as seeing higher demand for loans, lots more people are saving with us. "

Andy Pritchard is director of the Insurance Partnership Commercial Finance Ltd, in Priory Park, west Hull – one of the Bounce Back campaign's partners.

The insurance broker's finance team offers expertise on every aspect of commercial funding, including full financial reviews.

Mr Pritchard said: "Due to the uncertainty in the financial markets, the restriction of providers and the general concerns that the public have, the demand for advice has increased noticeably."

Both experts agreed budgeting was one key way to make your money go further.

Mr Smith said saving even a small amount each month could help to keep your budget on track.

He said: "Try to save regularly, even if only a little.

"Then you'll have something put by for unexpected bills. "Don't keep it at home, or you'll be tempted to dip in – deposit it somewhere you can trust."

Mr Pritchard said full awareness of your financial situation was crucial.

He said: "Regularly check your bills and outgoings and only pay for what is necessary – this will help keep your budget on track.

"Consolidate your debts if you can onto a cheaper rate."

The director advised exercising caution when it came to credit cards.

He said: "Don't be tempted into buying what you cannot afford by putting the cost on your credit card.

"Better still, pay them off if you can."

Mr Smith said bank charges could be avoided by forward planning.

He said: "Set your standing orders up for the day your income arrives in your bank account and then you won't be hit by fines for failing to leave sufficient funds in."

Both financial experts agreed shopping around was another top tip for financial security.

Mr Pritchard said: "Look out for offers including discounts and voucher schemes.

"Consider three-for-two offers and vary your shopping habits, as you may find the same products cheaper elsewhere."

Mr Smith said shopping around for fuel and insurance could save vital pennies.

He said: "Change the way you pay for fuel – direct debit is usually the cheapest method.

"And see if you can save money by switching supplier.

"But do tell your supplier if you are struggling to pay their bills.

"They employ people who can advise you on different options.

"And rather than cancel insurance policies, talk to your insurer to see if you can get a lower level of cover that still meets your needs for a smaller premium.

"If not, shop around."

Mr Smith also advised saving on energy by visiting the Energy Saving Trust website for a personalised report and making sure you know what benefits you are entitled to.

He said: "More than £2bn of benefits go unclaimed every year. Visit www.direct.gov.uk to see if you are entitled to claim."