How To Keep More Of Your Money

A Monthly Recurring Expenses (MRE) is anything that you pay on a regular basis (typically monthly) such as utility bills, memberships, services, etc.

Most of the tips on this site are designed to reduce these expenses in ways that lead to big savings over time. Where practical an estimated monthly savings is listed with each tip.

Pick a time when everyone is home and plan out your dinners for the next week. Once that's decided, figure out what ingredients you'll need and make your grocery list. This will help you only buy what you need and reduce the amount of spoiled food you throw away.

We started doing this last year and it really helps keep the grocery bills down. It also gets rid of the nightly "what are we going to have for dinner?" drill. We already know and (even better) have all the ingredients on hand. No more last minute trips to the grocery store.

Borrow books and videos for free at your local library. If you really like the book and think you'll want to read it again, then go buy it.

Remember to renew or return the books on time so you don't rack up late fees. Many libraries offer free online renewal.

How many of your cable channels do you actually watch? Are they worth paying all that money for each month? I gave up cable 9 years ago*, don't miss it and still watch too much TV. If you feel you can't live without cable, at least drop the premium channels.

People in many areas can get good reception of the broadcast networks and public television. With the switch to digital signals, you may even get a better picture with an antenna than cable.

*Update: I live in an area that doesn't get strong digital broadcast signals and had to sign up for a basic cable plan after the switch to digital broadcasts. With some research, I found a basic cable plan for $10/month.

Take a look at your phone, cable and internet service bills.

First, look to see if there are any items such as call waiting that you may not need but are paying extra money for. Highlight those.

Next look at how much you are being charged each month and compare that to your service provider's listed rate for new customers. You can usually find that information easily online. Are you paying more than a new customer?

Now call your provider. Ask them to cancel the extras you don't need and lower your monthly rate to match what new customers pay (if applicable). Also ask if there is a cheaper plan or bundle you can switch to.

When you call, be nice to the customer service rep and it will be easier to get your bill reduced.

The average price of cigarettes is around $4.50 per pack. That's a lot of money to spend to ruin your health, give yourself bad breath and all the other harmful effects of smoking. Plus you're probably paying higher life and health insurance rates because of it.

Do yourself a healthy and financially smart favor...quit smoking now.

How much do you spend going out to lunch every day? Probably $5 to $10 a day including snacks from the vending machine. Making your lunch at home could easily save you more than half that amount...and will probably be more nutritious.

Don't have time? Prepare it the night before. It only takes the time of a TV commercial break to fix a sandwich. That way it's ready when you are in the morning.

Many insurance companies charge a fee for you to pay your annual premium in monthly installments. If you can afford to, pay your premium in full and avoid the fees.

Many electronic devices like TVs and DVD players continue to suck up electricity even while they're powered off. Unplug them when not in use.

Take a look around your house and see how many other devices like alarm clocks are plugged in and using electricity. Do you need all of them? If not, unplug it.

Unplug any cell phone chargers or other battery chargers once the device is fully charged.

Before you go on a trip, unplug as many electronic devices as possible. Consider shutting off your hot water heater if you'll be gone more than a couple days.