How to save hundreds a month, even now!

By: Michelle Carolla | SCNow
Published: July 02, 2008

Each day, we hear more bad news about the economy. For, most people, the news translates to less money in your wallet. However, you might be surprised at what you do have.

Tweaking your budget may end up as the new American past time. As we all weather this storm, we need to look for hidden money.

Consumer Reports issued some tips they claim can save us about $500 dollars a
month.

First, ATMs. They can dollar you to death. Always use ATMs from your own bank, shop for free checking and adhere to bank rules in maintaining your accounts.

Banks collected more than 39-billion dollars in fees and penalties just last year.
Approximate Savings: $25 a month +.

Next, make sure you are on the right cell phone plan. Look at your minutes used and choose the plan that fits the closest.
Approximate Savings: $35 a month +.

Credit cards. More people are turning to credit to make ends meet. But, stop charging and find ways to pay them off. It's just math. If you carry a balance of approximately $2200 with an average 15 percent interest rate, that can save you the $28 monthly payment.
Approximate Savings: $28 + depending on balance.

Look for better car insurance rates. Competitive rates are easy to find. Make sure you're getting all the discounts you're entitled. Just stay with reputable companies. Approximate Savings: $65 +.

Life insurance is cheaper than ever. Shop for the best rates and consider re-writing your older policy at today's rates.
Approximate Savings: $100 +.

Finally, food prices are higher than ever. Look for store brands, use coupons, buy lower priced proteins like beans and lentils instead of meat. Also, use store discount cards.

Approximate Savings: For a family of four $200 +.

Grand Total: Approximately $500 a month (depending on your totals)

Economic news is really grim right now. Daily we hear about new record high gas prices and a constantly falling stock market. It's hard to see the end of the tunnel.

We'll continue to give you as many tips as we can to get you through.