We only have so much income. The more money you save, the higher your income will be.  The trick is to stretch the dollars so you have more buying power. Here are a few tips to help you do just that.

1. Know exactly what your income is—you’d be surprised at how many people really don’t know how much they have coming in each month.

2. Know exactly how much you’re paying out for fixed expenses such as rent or mortgage, insurance, utilities and so on. Some of these expenses will be monthly, others might be quarterly or even yearly.

3. Once you know your expenses, do your math to figure your yearly expenses then divide by 12. This will tell you how much your expenses are each month. The trick here is to put aside this amount even though the bill might not be due for a few months. When a major expense comes due, you will have the money without worry.

4. Cut back on the amount of detergent, toothpaste, shampoo, dish liquid and so on that you use. You’d be surprised at how much you can save by not wasting.

5. Make a list when you go grocery shopping and stick to it. If you use coupons, be sure you are actually getting a bargain. Take advantage of bulk buying only if you can use the items.

6. If you like to read magazines, check out your local library instead of buying a subscription. Same goes for newspapers and books. You’ll save a lot of money and won’t have to pay to get rid of a pile of paper.

7. The library is also a good place to look for CDs, DVDs and movies. Check them out, enjoy them, and then return them all for free.

8. Shop around for the best air fares if planning a trip. Sometimes you can save money just by flying out of a different air port.

9. Take care of your car. A good maintenance schedule, regular cleaning, and sensible driving can make a car last for many years. Another good idea is to continue to put the payment in the bank after the car is paid for. When you decide to buy another car, you will have a good down payment.

10. If you live in or near town, try walking or riding a bicycle. Both are good for you and you will save gasoline, oil, and wear and tear on your car.

11. Unless there is a real need for a second automobile, keep only one. You will save on insurance, maintenance, and in some states personal property tax.

12. Keep your automobile in good repair with regular maintenance and oil changes.

13. Use your credit cards wisely. Don’t purchase more than you can pay off each month. Try saving up for those large purchases instead of using the plastic.

14. If you smoke, try to quit or at least cut back. You’d be surprised at how much you can save by just smoking less.

15. If you stop at the convenient store each morning for a dollar cup of coffee, try brewing it at home and using the insulated cups. A dollar a day is $365.00 a year.

16. If you drink soda pop, watch for sales and stock up.

17. Take advantage of discounts.

18. When traveling, check the visitor centers along Interstates for coupon books for discounts on lodging and meals.

19. When you arrive at your hotel/motel, be sure to ask about discounts on meals and/or attractions.

20. Purchase fuel at the station with the lowest price and unless the manufacturer of your automobile specifies High-Octane fuel, use regular.

21. Clip coupons and use them. Many grocery stores offer discount cards for money off select items which can result in savings.

22. Check with your insurance company to see if you can combine your auto and home owners insurance to save. Also check to see if your insurance company offers a discount for safe driving, assuming you haven’t had any accidents or received any speeding tickets.

23. Turn down the thermostat on your water heater to a temperature that is comfortable.

24. When you run water, unless you need hot water, always turn on the cold. Just the little bit you run from the hot water heater can cause the water heater to turn on.

25. Swap your incandescent bulbs for fluorescent ones. These will give just as much light while using less electricity and don’t give off as much heat.

26. Turn off lights in any rooms that are unoccupied. To brighten rooms in daytime, consider loosely woven drapes.

27. Set your thermostat as low as is comfortable in the winter and resist the temptation to turn it up and down. Set it as high as is comfortable in the summer.

28. During the summer months, close curtains on the south and west facing windows during the day to keep out heat.

29. Use white vinegar diluted with water in place of fabric softener. If you want the pleasant smell the fabric softener or softener sheets provide, cut a sheet in quarters to throw into the dryer.

30. Whenever practical, walk instead of driving. It’s healthier and will save money.

31. Don’t leave the water running while brushing your teeth.

32. Seal any cracks around doors, windows and walls. These cracks can allow cold air into your home in the winter and hot air in the summer.

33. Fix any dripping faucets.

34. Instead of buying bread products at the grocery store go to a bakery outlet store. You can get the same products and brands here for up to half off what you would normally pay at the grocery store. The difference is the products at the outlet store are closer to their expiration date.

35. Save your plastic grocery bags and use them as garbage bags.

36. Did you know old newspapers clean glass much better than paper towels?

37. When buying meat at the grocery store, look at the “family packs” or “value packs”. They are less per pound and you can freeze the extra for other meals.

38. Plan your weekly menu around your grocery store flyer. This way you can take advantage of the sale items that week.

39. Consider going to a beauty school when having your hair done. They are always looking for people for their students to practice on and they cost less than going to a stylist. Also, you shouldn’t have to worry about how they will do since an instructor is supervising them.

40. Instead of paying bills through the mail step up an automatic deduction from your checking account or pay your bills online.