Money Savers

FORT WORTH (CBS 11 / TXA 21) ― For many Texans, saving money is now more important than ever.

But the same economic problems that make it more important to save also make it more difficult.  Even so, there are ways to do it.  And you won't have to walk to work.

Here are a few tips that can save you $500 before the end of this year.

Cut back on the cable:  $30
Cut out the premium channels on your cable or satellite TV package and you can knock about $16 off your bill each month.  With about two months left in the year, that's 30 bucks.  And you'll still have basic cable, which has a lot of great shows these days.

Generic medicines:  $26
Always ask your pharmacist about generic equivalents for your prescriptions.  The name-brand version of some drugs can be $100 more than the generic one—but it's exactly the same medicine.  Most pharmacies, including Target, Walmart and CVS, sell many generic drugs for $4.  With an average saving of $13, that's another $26 by January 1.

Adjust cell phone plan:  $70
Are you using all those cell minutes you buy each month?  What about old ringtones or features you don't use?  It's all costing you money.  If you pay for the minutes and messages you actually use instead of going with the all-you-can-eat plan, you could save $35 per month.

Plan grocery trips:  $300
This is the big dog on our list.  Food is a major bite out of most people's budgets.  But if you plan carefully before you head to the store you could save a lot.  Check the weekly circular ad for your grocery store to find out what's on sale.  Then use that information to pre-plan five to seven dinners for the week.  That way you can buy exactly what you need, instead of figuring it out as you wander the aisles.

Programmable thermostat:  $42
This is a case where you have to spend a little to save a lot.  A basic, programmable thermostat runs about $23, and can save you about $21 a month on your utilities.  So it pays for itself in just one month, and then saves you money forever.

Step away from the dry cleaners:  $60
Dry cleaning can be expensive and add up quickly.  But wool, cashmere, silk, rayon, polyester, and spandex call all be laundered.  Manufacturers actually wash these fabrics when they're making your garments.  Sometimes they place the "dry clean only" label on them to avoid liability issues.  Hand washing or using a mesh bag in the washing machine on the cool/delicate cycle can often do the trick.  Lay wool or cashmere flat to dry. You can save $30 a month.

Total so far: $528.

The amount each person can save with this next group of tips can vary a lot, so we're not putting a dollar amount on them.  But for most people, they can add up in a hurry.

Tax breaks.
Don't forget the new tax breaks this year. Take the opportunity to harvest your tax losses--before December 31st.

Hold onto your cash.
Save up a certain bill or coin. If you save all the $1 bills in your wallet at the end of each day, you'll have a built in savings account right there at home.

Pack your lunch. 
Do you go out to lunch every day?  You might be surprised at how much you spend in a month.  But if you pack your lunch just three days a week, you'll start to save a lot quickly.

Pay yourself.
Every time you get a raise, boot your 401(k) contribution by at least 1%.  Think of it as paying yourself.

Compare home and auto insurance prices.
There's a lot of money to be saved by doing a little comparison shopping for car and home insurance.  Rates can vary a lot, and it's easy to compare rates online.  One good place to start for comparison shopping is Bankrate.com.  Click on the "insurance" tab.

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