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Here are 5 things my single income family has done to save us $1025/month (and some months more) since my wife stopped working:

1. Dump your land line and just use cell phone (you can get high speed cable internet for about $25/month) - Savings: $40/month

2. Refinance your vehicle(s) with lower payments. You'd be surprised how easy this can be. Capitol One will finance almost anyone (provided the LTV ratio is not horribly bad). -Savings: $298/month

3. Buy your groceries once a month, and prepare and freeze as many meals as you can fit in the freezer. Buy goodies so it's not so bad to eat at home. Savings: If we don't eat out, as much as $400 month

4. Sell stuff you don't want from your garage on eBay, and go garage sale-ing every other Sataurday or so looking for stuff you can sell for profit on eBay: potential savings - MULTIPLE HUNDREDS per month. Realistic average: $50-100/month.

and last:

5. Shop for cheaper car insurance. Savings: $50-$200/month.

Total approximate savings: $ 1025 Good luck! Maybe you can do even better!

Learn more about this author, Damien Riley.
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