There are plenty of money saving experts out there, all with lots of different suggestions on the best ways to save money. The best ways to save money will depend on your personal circumstances and objectives in life. There is no ‘one size fits all’ approach to saving money.

If you haven’t reviewed your expenditure for a while then you are likely to be able to make substantial savings in 2010. What you do with these savings is up to you, but with analysts predicting a challenging second half in 2010, there is no harm in cutting back on what you spend and using these savings to pay off expensive debts or boost the size of your emergency fund.

Here are ten ways to save money in 2010:

1 – Review your mortgage

A mortgage is likely to be your largest item of monthly expenditure. Whilst the Bank Rate fell to the historic low of 0.5% in 2009, many mortgage interest rates remained at much higher levels. The recent partial recovery in house prices should favour those hoping to remortgage to a better deal, with the loan-to-value (LTV) making borrowers eligible for a more competitive rate.

2 – Save money on utilities

This week we saw the price of oil climb to over $78 a barrel, the highest price in nearly a month. As the world economy continues to recover, we expect to see higher oil prices in 2010 and this will result in a higher price for domestic energy supplies.

This article we published during Energy Saving Week in October described some simple ways to save money on your energy bills.

3 – Review your life assurance

The premiums you pay each month for life assurance, critical illness cover, income protection insurance and private medical insurance can quickly add up to a substantial amount. If it has been more than a couple of years since you started a protection policy, speak to an independent financial adviser to review the cover you have in place. You might discover that the cover you have in place is now redundant or that you are paying over the odds for the level of cover you have.

4 – Leave the car at home

Another, and more immediate, consequence of higher oil prices will be an increase in the cost of petrol and diesel. If you can leave your car at home more often, you will save money on the cost of fuel and also reduce wear and tear on the vehicle. You might also save money on your car insurance if you can reduce your annual mileage. And of course there are health benefits associated with walking or cycling rather than driving.

If your journey requires a car, then more fuel efficient driving practices can also save you money. Keep the car tyres properly inflated, reduce the weight carried in your vehicle, leave the air conditioning switched off and accelerate smoothly.

5 – Make a budget (and stick to it)

A great way to avoid wasting money is to have a written budget each month and make sure you stick to it. By deciding in advance where you will spend your money, you should make it easier to avoid the temptation to spend on frivalous or unnecessary items. Once you have made your budget, review it on a regular basis so you can compare where you planned to spend your money with where you actually spent it.

6 – Become a Freegan

Becoming a Freegan will not appeal to everyone, but there are money saving lessons to learn from their philosophy. At the most basic level, by living simply, reducing your consumption and sharing resources with others, you will be able to save a lot of money which can then be redirected towards other financial objectives.

7 – Get rid of your landline telephone

The newly introduced ‘broadband tax’ of 50p per month on landline telephones will make a lot of people think about the purpose of their phone lines in 2010. With low-cost mobile phone packages and free VoIP internet telephone calls (using free software such as Skype), you might determine that the few hundred pounds you spend each year on telephone line rental could be better used elsewhere.

8 – Have a water meter fitted

Speaking from personal experience, getting a water meter fitted at my house a few years ago was one of the biggest money saving items I have experienced. Rather than paying based on estimate usage, you only pay for the water you actually use.

The water regulator Ofwat estimates that getting a water meter fitted can reduce household water consumption by between 9% and 21%. On an average household water bill of £312, this is a saving of up to £66 a year.

9 – Cancel your TV subscription

For a lot of people, this money saving tip in 2010 will be a step too far, but cancelling your satellite television package subscription can save you a lot of money. The most expensive Sky TV package (Sky+HD with Sky World) is nearly £60 a month, so you will save over £700 in 2010 if you can bring yourself to live without the sports and movies they offer.

The introduction of Freesat in the UK means that, after the initial outlay for a Freesat receiver and dish, there is no need to pay monthly subscriptions to get access to a good range of satellite television channels. Add free Internet TV services such as the BBC iPlayer and Channel 4 On Demand (4OD) to the mix, and you might find the transition from paid to ‘free’ TV a little less painless than you originally expected.

10 – Always shop around

Your golden money saving rule in 2010 should be to always shop around. The Internet makes it quick and easy to compare prices on just about any product or service.

You can even use the Internet on your mobile phone handset to compare prices when you are physically in the store about to make a purchasing decision. This can be useful if you want to buy the item on the spot, but need some ammunition to haggle with the shop assistant before parting with your cash.

Martin Bamford is site editor of BrilliantWithMoney and a Chartered Financial Planner at Informed Choice. You can follow him on Twitter @martinbamford.