Turn May Day into pay day

With the Euro exchange rate pushing up the price of a short break, rising fuel prices and recent chaos at UK airports, we're likely to see more Brits choosing to stay at home over the May bank holiday.

This extra day at home is an ideal opportunity for consumers to save money by getting their finances in order, according to credit reference agency Callcredit. Experts calculate that by making a few simple changes - such as shopping around for the best deals - consumers can save literally hundreds of pounds.

But the first step to turning May Day into Pay Day is by checking your credit report. This will not only give you a snapshot of all your financial commitments at once, it will also give you the chance to spruce up your file and make your credit rating as attractive as possible, especially important during the tightening credit crunch

"Regularly checking your credit report is an essential part of a healthy financial lifestyle," commented Graham Lund, Deputy Managing Director at Callcredit. "While fixing the bathroom or tidying the garden may be the most obvious stay-at-home activities, checking your credit report could be the most profitable piece of DIY you do over the long weekend."

Callcredit's top tips to making bank holiday savings

1. Leave the car at home and go for a walk - fresh air and exercise are good for both you and your wallet

2. Swap a restaurant meal for a picnic - and if the weather is grey, spread a blanket on the floor in the living room

3. Get crafty - you can make lots of fun things for very little - check out craftideas.info

4. If you do go shopping try using cash, it will highlight just how much you're spending

5. Check your credit report at callcreditcheck.com - a snapshot of all your financial commitments will show you where you can improve your credit rating and save money