Stock up

Create a food pantry in your home. A cheap laminate closet from Target or Walmart in the basement is perfect. When you supermarket is running a really good sale on dry goods or canned items, stock up on as much as you can afford. You'll certainly wind up using it at some point so why not take advantage of low prices while they are available.

Just Say No

There is no gilding the lily here. We are all spending too much. For many people, shopping is a form of entertainment. There is no way we are going to get our finances stabilized unless we learn to live within our means. That's the only truth of it. That means no more shopping for no reason. We all have to get used to buying only that which we really need. Nuff said.

HELOC

I know I said I wasn't going to offer financial advice here. I'm going to make one exception. If you have equity in your home, which I know is not an easy question to answer these days, take out a home equity line of credit. It is just that by the way, a line of credit. If you never use it, you owe nothing on it. If, heaven forbid, the financial roof falls in though, you can use that line of credit as a stop-gap to get you through rough patches. With the economy looking so uncertain these days, it's not a bad idea to have a little something to fall back on if need be.

DIY

One of the surest ways to save some money is to do home repair and
improvement projects yourself. You don't have to be all that handy to paint a room or lay down a laminate floor. If you are uncertain where to start, ask someone in a home improvement store for advice or buy a how to guide. One way or another, if you can reduce the cost of this sort of work to the cost of materials only, you will be astounded at the savings.

Last year, we had fun re-doing my son's bedroom. He is an avid Mets fan so we decided to do our own version of Extreme Makeover Home Edition while he was away in camp for a week. For less than $1000, we laid down a new laminate floor, painted the room in Mets blue and orange colors and put in a new bunk style bed with a desk where the lower bunk was. We also installed crown mouldings and a new ceiling fixture. It came out beautifully and for a fraction of what a contractor would have charged us.

Quit

If you haven't quit smoking yet do it now for both your health and your wallet. It is easier than ever to break the habit thanks to a few medications your doctor can provide, to say nothing of the over the counter anti-smoking aids available. I know how hard it is to put down the smokes. For 15 years I was a terrible nicotine fiend. Thanks to a drug called Zyban, I haven't had a cigarette in almost 7 years now. And I didn't gain a lot of weight either.

The reason for this post here is the cost of the habit. Here in NYC, admittedly the smoke tax capital of the US, quitting put $3000/yr back in my pocket! That's like giving yourself a nice raise. (To say nothing about hopefully avoiding the cost of surgery, chemo & radiation).There is no downside to tossing the cigarettes. You'll feel better, breathe easier and save a fair amount of cash. Just do it.

Save Power

If you haven't switched over to compact flourescent lights yet, do it. They last a long time and use a fraction of the power that incandescents use. They cost a little more up front (prices have come down lately though) but save in the long run. While you are at it, do what you can to insulate your home for the winter. Weather stripping is inexpensive and very effective at stopping heat loss. I have floor to ceiling drapes on many of my windows. (My mother-in-law is a seamstress. She made them in double thick fabric.) Those drapes do such a good job of stopping drafts that I have been able to lower my thermostat to 62 degrees and still stay comfortable. Finally, the old rules are still good. Turn out lights when you leave a room. Shut your computer and printer off at night. Don't waste power. Every little bit helps.

Take the train (or bus)

Riding mass transit makes more sense than ever these days. Between heavy traffic, expensive fuel and concern for the environment there is no down side to using busses and trains. Furthermore, if your employer participates in a transit check program, you can actually pay your fare out of your pre-tax income. That can significantly reduce your out of pocket costs even more.