10 Simple and Effective Ways to Cut Expenses and Save Money

10 Painless Ways to Save Money Now

These simple steps can take the sting out of higher costs

Getty Images When prices are on the rise, it's essential to stretch your dollar, find discounts and save money. Despite the improving economy, consumers still find that their budgets are squeezed. Soaring gas prices and higher Social Security payroll taxes are nibbling away at U.S. . Families are shelling out more to cover basic expenses, and at the same time taking in less. The spike in gasoline — prices rose by 45 cents a gallon in January alone — emptied consumers' wallets quicker. And the decline in wages hasn't helped, either. Personal incomes plunged 3.6 percent in January, and disposable income dropped 4 percent, according to the latest data from the Bureau of Economic Analysis. To take the sting out of higher costs, consider these 10 steps to shore up your bottom line:

1 Save at the pump

Go to sites like and to find local gas stations advertising the cheapest price per gallon. You could save as much as 40 cents per gallon. And while you're there, check your tire pressure. Flatter tires can decrease fuel efficiency.

2 Best plastic

The website released its list of the best credit cards that offer gas rewards. Some are affiliated with the gasoline companies; others give rewards at the pump for using them at department stores, supermarkets and other establishments.

More Savings

3 Online repair parts

You can buy auto parts for less online than what car repair shops may charge. Go to sites like or to compare costs. Find a mechanic who is willing to install parts purchased online.

4 Carpool to work

If you can't find a colleague at work to share the ride, consider using to connect with someone in your area. It can save you thousands of dollars each year.

5 Morning pick-me-up

Instead of spending $5 for your daily cup of coffee at a local shop or in your company's cafeteria, make it at home and take it to work. Possible savings: $25 a week.

6 Carry coupons

If you're not the clipping-coupons-from-your-newspaper type, no worries. Before you head to the grocery story, print out coupons from sites like and . Or do an online search for coupons — it'll bring up dozens of sites.

7 Senior discounts

Being older has its perks at some supermarkets and local food stores, which offer unadvertised discounts of up to 10 percent. Ask at your store.

8 Retail rescue

, and other websites pool the best printable discounts from retailers like Kohl's, Walmart, Gap and Best Buy. Some have mobile apps that let you scan bar codes with your smartphone or tablet computer.

9 Unplug it

Computers, televisions and other devices and appliances burn energy when they're plugged into outlets. So when they're not in use (this goes for cellphone and laptop chargers, too), unplug your stuff.

10 Cool down

If you're away from home for most of the day in wintertime, lower your thermostat to 58 degrees. The Alliance to Save Energy says you can save 3 percent on your heating bill for each degree you lower the thermostat.

Also of Interest

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