These days, it is important to keep a savings.  But how can you save money when prices keep rising and your bills keep adding up?  Here are five ways that may help you in these troubling times without putting yourself out too much.

Set a goal to save.  Figure out what you are spending each month.  You may have to estimate some items, but you can get a reasonable account from your past bills.  Don’t forget to include your utilities, gasoline usage, insurances, dinners out, and children’s activity bills.  Count as much as you can.  Your real goal should be to cut back about 2% each month on what you are currently spending.  For example, if you spend $1000 per month now, you’ll want to only spend $980 next month.  The next month, cut it back to $960.40, and so on…Do this until it becomes a little difficult to save any more.  Then add a couple of dollars back into your budget and you’ll find yourself saving some money.

Track your expenses. Use a computer program like Microsoft Excel, Google Docs, or Intuit Quicken.  Or, another way you can track expenses is using a credit card for all of your purchases.  If you don’t have a computer, buy a $1 notebook and write every expense that you spend in the book.  By doing this, you will keep your self in a mind-set of not overspending.

Save on Unneeded Expenses.  Pack your lunch. Cut back on your morning Starbucks.  If you go out to eat 3-4 times a week, cut it down to 1 or 2 times a week.  All of these things really add up.  For instance, if you pack a lunch each day for $3/day vs. going out to lunch for $6/day, stop your $3 latte, and go out two times a week for dinner with your spouse (at $25/meal), you will save a whopping $4160.00 a year!

Grocery Shopping.  Before you do your weekly grocery shopping, plan ahead.  Don’t buy on impulse, but rather plan meals.  The first couple of times may cost you a bit more while you are building up supplies, but after you have a few of the necessities, you will start saving money.  Additionally, you should comparison shop.  Look for items on sale. Buy generic items instead of name brands. You don’t have to give up quality food, but you will find that cooking meals instead of ready-to-eat meals will save you quite a bit.  Freeze what you don’t use.

Saving for what you want.  I find that when I put aside money for something I really want, it is that much more important to me.  Also, many times, I will forgo that item because I really didn’t need it to begin with.  Impulse was working against me. Put what you can aside with each paycheck and watch your money grow.  When you have enough, take the money out and buy what you want.  This will also stop you from using your credit card on those impulse buys that can lead to paying unwanted interest charges.

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