In today's current economic climate, saving money is more important than ever. There's a number of price comparison websites that can help you save money on your gas, electric and event broadband access. However, a new site aims to help you save money when it comes to purchasing security software.

According to RenewalBuddy.com, many web users simply renew with the same software company every year, unaware that they could potentially get a better deal if they purchase different software.

"Over a lifetime, the average customer would save over £1,240 if they looked for a more reasonably priced renewal," said Graham O'Reilly, CEO of RenewalBuddy.com.

"A renewal licence is exactly the same [price] as a new one - so there is no reason not to compare prices."

Users simply select their existing security product from the list and select which licence type (single or multiple) they want, then the comparison site displays prices for their existing software along with the prices to move to a different product.

"We're fed up of seeing customers getting a raw deal on their renewal. The antivirus companies give massive discounts to get new customers on board, then are only interested in lining their own pockets a year later when it's time to renew, " said O'Reilly.

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See also: The five big security threats of 2011