Save $2,010 or More in 2010 with These Cost-Saving Strategies

Although a growing number of financial experts are touting the end of the recession, many of us are still dealing with the realities of unemployment, dropping house values, growing health care costs, and escalating credit card interest rates. For most, these issues translate into having to keep a very watchful eye on spending.

While you have probably reduced expenses since the start of the downturn, you may have missed a few easy-to-implement opportunities to save hundreds if not thousands of dollars over the course of a year. The following are ten strategies to follow now that will help you keep more money in your wallet in 2010.

Unplug Vampire Appliances

One of the simplest ways to lower your monthly utility bill is to unplug your "vampire" electronic devices that are "sucking" power when they're not in use. Take a look around your home, and you'll probably find at least a few phantom energy consumers that are costing you dollars even while you're asleep or away from your home. Obvious culprits are cell phone chargers, PCs, digital clocks, DVD players, microwaves, and stereos. For the most part, any device which has a standby mode is using power as long as it's plugged in.

Average Annual Cost Savings $200.00

Use VoIP for Long Distance

Despite our widespread use of wireless phones, many consumers are still dialing long distance using the costly service offered by their local phone company. Instead of paying for high-priced minutes, VoIP providers are offering substantially lower rates and often times free calls to many global destinations. MediaRing Talk is one such provider that lets anyone who downloads their software make free PC to PC calls to anywhere in the world and free PC to phone calls to eight countries including China and the UK.

Average Annual Cost Savings $500.00

Review Insurance Policies

Taking the time to review your insurance policies can save you a surprisingly large amount of money. A good agent will tell you that your insurance needs change over time. It's important to make sure your policies reflect what you require now; not what you did five years ago. Take a close look at the coverage you have for auto, homeowners, and life insurance. Ask your current insurer about discounts and unnecessary add-ons, and make sure to find out about no-claims bonuses. You may also want to compare prices with other insurers, too.

Average Annual Cost Savings $200.00

Tune Up Your Car and Check Your Tires

Want to save up to 20% on what you spend on gas? By keeping your car tuned up and your tires properly inflated, the savings can be substantial. Seemingly innocuous maintenance issues like poor wheel alignment, an ill-fitting gas cap, or a dirty air filter can dramatically reduce your fuel efficiency.

Average Annual Cost Savings $300.00

Eat at Home

Some experts are referring to this economic downturn as "the recession that saved home cooking". Families everywhere are realizing that there is big money to be saved by eating at home. In fact, the typical family can reduce monthly food expenses by about 40% by simply planning home-cooked meals and avoiding restaurants. Besides the cost savings, eating at home is usually healthier, too! If you're a little less than confident in the kitchen, check out www.mealsmatter.org. This helpful site offers a great variety of free meal planning and healthy lifestyle tools.

Average Annual Cost Savings $400.00

Check Receipts

Retail cashiers may get annoyed, but you should be checking your receipt with every purchase that you make. Monitor what's being scanned or rung up and read through the receipt before you leave a store. In fact, one recent study conducted by the County of San Diego found that over 50 percent of the stores that they inspected for pricing accuracy had errors. And, shoppers are 3.5 times more likely to be overcharged than undercharged on purchased items.

Average Annual Cost Savings $100.00

Renegotiate Bills

There has certainly been lots of talk about credit card companies sticking their customers with sky-high interest rates. Of course, it pays to try to renegotiate these rates. But, don't forget to review other bills such as those for cable, internet, and utilities. You may be able to save your hard-earned cash by bundling services, opting for saver plans, or slashing services that you don't need.

Average Annual Cost Savings $300.00

Wash Laundry on Cold

Water heating can account for up to 90% of the energy consumption of your washing machine. By switching from hot to cold water, a typical family can save as much as $10.00 per month while cutting a notable amount of greenhouse gas emissions. Want to save even more? Turning your water heater down to 110 degrees Fahrenheit can save you 3 to 5 percent on your electricity bill.

Average Annual Cost Savings $120.00

Seal Windows and Doors

Windows and doors that are not sealed properly can waste tremendous amounts of money on heating and cooling costs. In fact, by simply sealing air leaks throughout a house and in an attic crawl space, a homeowner can expect to reduce these costs by up to 20 percent. Not sure if you have a problem with your windows and doors? Contact you local utilities provider. Many offer free household inspections and assessments.

Average Annual Cost Savings $500.00

Pay Down Debt Smartly

With the money you'll be saving by implementing the previous strategies, you may want to more aggressively begin to pay down any debts that you have. That's great! Remember to attack the bills with the highest annual percentage rates first and then move onto those with the lesser interest rates.

Average Annual Cost Savings - Depends on current debt - but could be substantial!