With today’s struggling economy it seems like everyone is looking of ways to save on their monthly expenses.  If you are an average homeowner your monthly mortgage payment is anywhere between twenty-five and forty percent of your monthly income. This needs to be the first place you look to lower your monthly output, and right now couldn’t be a better time to take advantage of historically low VA interest rates.  Also if you have any equity in your home you could use that to pay off high interest credit cards or even car loans. Consolidating debt is a great way to get ahead on bills and stop paying your hard-earned money on re high revolving  interest.

The second place I would look to save money is insurance. Shop around for car insurance, take a higher deductable, get rid of unused protection so you can reduce your monthly premiums. I would also recommend shopping for cheaper health insurance, and homeowners insurance.  Did you know that installing and having a monitored home security alarm in your home could save you 20% on your home owners insurance costs?

I would next look at what seems to be costing a lot of money that perhaps you could live without. How much are you spending on going out or entertainment, set a reasonable budget and limit yourself to those set amounts.