More than a quarter of Britons with a mortgage would be unable to meet their repayments if their monthly income dropped by just £300, new research from debt agency Callcredit shows.

Perhaps the main reason so many of us are teetering on the brink of losing our homes is that almost one in 10 British adults have deliberately overestimated their income when applying for credit, while a further 6% of people have applied for credit knowing they might not be able to meet the repayments.

Even with the recession supposedly coming to an end, these shocking figures indicate that many people are still suffering its effects and will continue to do so for some time.

From Friday, Lloyds TSB customers with variable rate mortgages were able to increase their monthly payments by up to 20% without incurring any financial penalty.

The move marks a doubling of the previous overpayment limit, and will last for one year, coming to an end on March 31, 2011.

But why is overpaying on your mortgage such a good idea? And which other lenders allow you this level of flexibility? Read on to find out.

Britons are set to waste £9 billion in unnecessary tax payments this year, according to the latest Tax Action report, published by financial adviser network Unbiased.

Areas where taxpayers are set to lose out the most include on unclaimed Tax Credits that will cost the nation's families close to £4 billion and avoidable Inheritance Tax payments totalling nearly £2 billion.

It does not have to be difficult to reduce your tax burden, though.

By following a few simple steps, you could save yourself hundreds or even thousands of pounds.

About one in three British adults believe that the forthcoming General Election will be followed by substantial tax hikes.

But while many would be swayed by the tax policies of the different parties when it comes to voting, 86% admit doing nothing to reduce their current tax burden.

About 5.5 million households in Britain today are in debt to their energy suppliers, with the average amount owed standing at £132, according to new research from price comparison site uSwitch.

That is a 5% increase on the typical debt this time last year and means that collectively we now owe utility companies an incredible £728 million.

Even more worryingly, this amount is unlikely to fall soon, as consumers struggle with the cost of the cold snap, and the fact that energy prices have rocketed over recent years.

As we stagger out of recession, you'd be forgiven for thinking that charity begins at home, and that you can't afford to give what you would like to charity. But donating does not always have to impact the amount you have coming in each month.

Virgin Money has this week launched a new charity credit card that donates up to 1% of the money you spend to the charity of your choice - meaning you can give without it costing you a penny.

And there are lots of other easy ways to increase your charitable giving without feeling the pinch yourself.

Parents are being encouraged to sign up to school computing schemes that do not offer value for money, according to a new report from Which? Computing magazine.

It claims that schools are pressurising parents to agree to donate money each month to give children access to laptops in their homes, even if they already have a computer at home and could get the same laptop for less elsewhere.

The report also raises concerns about commercial schemes such as Tesco's Computers for Schools, under which a parent would have to spend £265,000 on groceries to earn enough coupons to get an Apple iMac available to buy online for £660.

Premium rate mobile phone service operators are targeting schoolchildren with ringtones and games that the kids subscribe to without having any idea of the cost, shocking figures show.

A third of 11 to 17-year-olds who subscribe to premium rate services on their mobiles have no idea what they cost, according to new research from phone paid services watchdog PhonepayPlus.

It hopes that its PhoneBrain initiative, which takes place in schools and teaches children how to use mobile phone services safely, will help to prevent kids spending more than they can afford.

Modern day life moves too fast to bother with small kindnesses such as carrying an elderly neighbour's bags or giving up a seat for a pregnant woman on the local bus, according to a shocking new survey from healthcare provider Simplyhealth.

It indicates that two thirds of Britons aged under 35 know only two of their neighbours by name, and more than eight in 10 would not offer to carry someone else's bags if they were struggling.

But having a bit of community spirit can improve your health and increase your wealth - so maybe it's time you started helping others to help yourself.

A typical smoker could save themselves more than £40,000 over the next 25 years by stubbing out the fags for good, according to new research from price comparison website Moneysupermarket.

It found that Britons kicking the habit could save on average £6,044 on combined critical illness and life cover taken out over 25 years, or up to £1,685 on a single life insurance policy covering the same period.

Based on the current average cost of a packet of 20 cigarettes at £6.13, a smoker could also save themselves around £1,508 a year by taking the decision to go smoke-free.

It's not all about money, though. About 80,000 Britons die every year as a result of smoking - making the case for quitting on No Smoking Day, which falls on March 10, even more compelling.

We women know that we are far from the weaker sex. Not only can we multitask - often juggling careers and childcare - we also tend to live longer than our male counterparts.

In fact, women are likely to live on average nine years longer than men in retirement.

But these extra years are unlikely to prove enjoyable unless we start thinking ahead and making long-term financial provisions for our later lives.