One way to economize is to look at where you are spending unnecessary money. For instance, you could have a cheaper mobile phone plan, mortgage or car payments that can be re-financed, or cancelling your gym membership and instead start jogging, walking, or playing basket ball in the local park. If you have two cars, consider becoming a one-car family instead - you will save plenty on gas, insurance, and maintenance. Find out from your utility company what you can do to save money. By simply turning down the temperature on your heater or having energy-saving showerheads installed, you will be able to bring down your monthly bills significantly.
 
Credit cards usually take a large portion from monthly salaries. You might consider consolidating your balances or perhaps getting a lower interest rate. Have a look at your credit card statements - there might be automatic charges such as subscriptions or monthly fees that could be cancelled.
 
You can also save plenty of money on holidays as well. Consider a camping holiday instead of staying in hotels. Keep a cooler box in the car with all the ingredients for sandwiches instead of paying for expensive meals in restaurants. If possible, plan your holidays locally so you can drive instead of spending a fortune to fly to your destination.
 
Instead of hiring a babysitter, form a babysitting co-op. Trading babysitting duties with others in your community will save you money and also give you peace of mind knowing that your child is with people you can trust.
 
Eating at restaurants also costs a lot of money. Take lunch with you to the office, have a family picnic at the weekend and when you take the kids to the zoo or playground take snacks with you instead of spending money at the snack bar. If you are in the habit of buying cups of coffee to drink, make a note of how much you are spending in one week for those cups of caffeine - it will motivate you to rather make coffee at home.
 
Save money on entertainment by going to matinees or renting movies instead of going to the theater. Borrow DVD’s and videos from your local library rather than renting them. Instead of taking the family out and spending a lot of money, organise a games evening instead.
 
Start to shop smartly - buy in bulk, clip out and use coupons, and post those rebates. Store brand products are usually cheaper than name brands.
 
As far as clothing is concerned, try buying from secondhand stores and resale shops. A site such as eBay is another option. For new clothing, buy for next year at this year’s end-of-season sale. If you are buying furniture or appliances, ask for floor models - there will probably not be a noticeable scratch on the item, but you will definitely save quite a bit.
 
Very importantly, once you have worked out a budget that suits you, stick to it religiously. If your money for entertainment has come to an end, then stay at home and make a great meal instead. Work out what your fixed monthly expenses are for a year. Divide this amount by twelve and put that amount of money away every month into a separate bank account. Do this like clockwork and you will never have to worry about paying those property taxes or other fixed expenses again.

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