Penny-pinching doesn't have to hurt -- with a few easy tips, you can save $500 a month.
- Step 1: Head to the library -- rather than paying for DVDs, music, and books. Get a library card and check out the entertainment you want, which can save you money on subscription services and purchases.
- Step 2: Want to increase your monthly savings? Start keeping careful track of all the money you spend in a given month; then, see where you can cut down on expenses to increase your savings even more.
- FACT: As of 2009, Monaco had the largest gross national income per capita of any country in the world.
- Step 3: Java junkie? Brew your own to save as much as $100 a month on coffee runs.
- TIP: Check if your power company or local government offers incentives for improved efficiency.
- TIP: Cut the number of meals you eat out by 50 percent to save another $50 or so per month.
- Step 4: Change your commuting habits. Find local ride-share programs online or speak to coworkers about car-pooling, which can save $60 a month. To save even more with your car, increase your auto insurance deductible to $1,000 to cut $20 a month on your premiums.
- Step 5: Go green at home to add green to your wallet. Switch to a low-flow showerhead, which can save up to $48 a month. Installing energy efficient double-pane replacement windows can put $41 a month back in your pocket.
- Step 6: Cut down on costs at the supermarket to save around $200 a month for a family of four. Clip coupons, stock up on staples when they're on sale, and base your diet around fresh ingredients, rather than more expensive prepared meals.