Nationwide Building Society found that cutting such bills will be the main financial priority for five per cent of respondents.

Other plans include saving more or starting to put money aside, finding a better savings account and getting rid of unwanted credit cards.

Stuart Bernau, Nationwide executive director, said the recent economic climate will have “undoubtedly” forced people to consider their financial wellbeing.

As a result, he said it was unsurprising that people are making plans to save money in 2008.

“New Year’s resolutions can fall by the wayside as the year goes on, but by making one resolution and sticking to it you can really make a difference to your finances,” Mr Bernau said.

“Simple changes, such as ensuring you utilise your annual tax-free allowance or by making monthly contributions to a regular saving account can help you make the most of your savings.”

Earlier this month, price comparison website Moneysupermarket.com predicted a “raft of regulation” to hit the mobile phone and broadband industries in 2008.

Find out how to compare broadband deals and compare mobile phone tariffs

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