Cell phone contracts -- Sign-up for a one year contract with a cell phone company instead of two or more years since the odds of your being happy with or wanting to stay with that particular carrier for more than one year are not that high. If you do this, you can avoid the $200+ penalty you will be required to pay for cancelling early. If you hardly ever use your cell phone and have it mainly for emergencies, consider using a pay as you go service, such as Cingular's Go phone, which would only cost about $10 per month.
Credit cards -- With hundreds of card offers out there, there's no reason to pay an annual fee of $50 to $100 for the privilege of using a credit card when you are also saddled with an interest rate as well. Call your credit card issuer and ask that the annual fee be waived. If they refuse to waive the annual, switch to another card.
Prescription drugs -- If your household income is below median (about $48,000 for a family of four), you may qualify to receive discounts on generic versions of 50 prescripton drugs for about $30 each. More information is at www.rxoutreach.com.
Ask for a lower credit card interest rate -- All your credit card issuer can say is "no"; therefore, you have nothing to lose by asking for a lower credit card interest rate. Click here to find out how to do this.
Gifts -- Learn to get over the feeling of being obligated to give gifts. Be frank with your relatives, friends and co-workers if you have to. Inform others that you cannot participate in gift giving during the holiday season, etc. Many families and offices adopt a system of name-drawing so that everyone has to buy only one gift. If you feel obligated to give a gift, consider making inexpensive ones yourself. Also, learn to say no to friends, family and co-workers who want to sell you Tupperware, Avon, Girl Scout cookies, etc.
Charitable contributions -- Although you might not like doing it or feel bad about doing it, giving up charitable contributions is one way of reducing your expenses.
Checks -- Your bank typically charges you $20 or more for the box of 200 checks it has printed up for you. However, you can get the same number of checks for less than half the price by ordering through a check printing company. Website: www.checkworks.com.
Get a free checking account -- A free account will save you the $10, $15 or $20 monthly fee. Banks offer free accounts because they tend to attract those who bounce alot of checks and earn the bank a fortune in bad check fees. But if you don't bounce checks, they are a great bargain.
Magazines and books -- Don't renew your current magazine subscriptions. If you like to read, check out books from the public library rather than purchasing them.
Swap services -- Trade and barter services with your neighbors, relatives and friends. You can swap services, such as child care, pet sitting, house sitting and the like. You can also borrow equipment, tools and appliances from each other rather than purchasing them.
Haircuts -- You can cut your own children's hair and perhaps even your spouse's between professional cuttings. Adopt a no fuss hairstyle that can go longer between professional cuttings.
Manicures / Massages -- You don't really need these luxuries. Give them up in order to get out of debt.
Cable television -- This can be tough to give up, but might be necessary if you're having trouble paying your debts. If you can't give up cable, at least get rid of the premium movie channels.
Phone extras -- Do you really need caller I.D.? Or an unlisted phone number? Take off all the extra phone services, such as call waiting, the answering service and such, and you might find your monthly phone bill lightened by as little as $5 or as much as $50 every month.
Movie rentals -- Although movie rentals are inexpensive, you can rent movies free with at your local public library. Of course, the selection isn't going to be nearly as good as it is at Blockbuster.
Dry cleaning -- Dry clean clothes less often and purchase more washable clothing. It is estimated that about 25% of clothing tags that recommend dry cleaning can actually be hand or machine washed -- so ask your dry cleaner.
Alcohol and tobacco products -- Here are two luxury items that tend to be on the expensive side. If you smoke, now would be a good time to quit.
