by Vonda J. Sines

Created on: August 08, 2008

Look at the entries in your checkbook for the past month, and it's obvious that prices have reached the stratosphere. The budget amount for our electric bill went up 17 percent in July. August brought a 24 percent hike in the budget billing for our home's gas supply.

Is it still possible to actually cut your budget when prices are spiking? Yes, it is - if you pick realistic amounts. There are lots of reasons to want to save $100 next week: back-to-school purchases, soaring credit card balances and way too many trips to the ATM, just to name a few.

Here are some tips to cut next week's spending by $100:

1. Spend $5.00 less at the grocery: Either use $5 in coupons, shop the sales or skip that magazine and bag of cookies for a week. Balance to save: $95.

2. Drive less: Put 10 fewer miles on your car. Renew the kids' library books online. Make just one - not two - trips to the supermarket. Using the IRS mileage allowance of 58.5 cents per mile through the end of the year, you will save $5.85. Balance: $89.15.

3. Just say "no" to Starbucks: Avoiding a purchase just 2 days next week at $5 each will keep $10 in your pocket. If you usually purchase coffee in the morning, nose around a bit to find out if your employer provides it for free. Balance: $79.15.

4. Tote your lunch: If you take leftovers just three days this week and drink water with them, your lunch should only cost about $1 each day. Contrast this with a typical fast-food or deli sandwich run at $6. You'll save $5 each day, or $15 for the week. Balance: $64.15.

5. Stop the presses: At least stop the newspaper carrier from delivering all but the Sunday edition. At a typical price of 50 cents a day, you'll save $3 a week. Balance to goal: $61.15.

6. Pass on the golden arches: Get everyone in the family members to sit down and have a meal at the same table at the same time. Axing just 1 fast-food meal per week can easily save a family of 4 around $20. Balance: $41.15.

7. Ditch the pantyhose: Don't replace the pair that just ripped. Take advantage of the hottest weather of the year and ditch pantyhose for a week. The lowest price I could find locally was $4 a pair. Balance: $37.15.

8. Use the stockpile: Rest your food budget on the seventh day by purchasing no items for meals that day. Use what's on hand. It's a great time to flip meals - pancakes at night are delicious and a wonderful change of pace - and to use up stockpiled staples such as cheese, cream soups, tuna and cake mixes. Four people eating $4.50 a day equates

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