There are a number of reasons why the economy may have you wondering how to save money every month. Even wealthier, are the number of ways in which you can do so. There are, however, 10 things you can do which are highly effective towards lowering your monthly costs.

Part ways with your cable provider

You’re wondering how to save money every month, not just once. Disconnecting your current cable service can significantly reduce the amount of money you are wasting each month. When you stop to consider that an average bill for cable service can run in upwards of $40 or even more per month, choosing to view your favorite shows from Hulu.com is quite a relief (did I mention there are fewer commercials?) If you are not comfortable streaming television from your computer you can readily connect Hulu to stream to your television via Playstation 3, Xbox 360 or other software such as Playon by Media Mall. The cost of using a software such as Playon as opposed to your regular cable provider is a one time set-up fee of $40.

Take time to do some comparative shopping on insurance rates

If there is one thing that I make sure to do every couple of years it is to provide myself a day away from work in which I can focus on comparing insurance rates and coverage. The last time that I took this extra day to do some research I successfully found a higher quality of homeowner’s and auto insurance at a rate that was at least $1,100 less than my previous coverage!

Cancel your subscription services in exchange for less expensive alternatives

In the past, our family has re-examined the services that we subscribe to on a monthly basis and replaced such services as Netflix with the cheaper alternative of Redbox. While the $15 monthly fee for a couple of monthly rentals from Netflix may not seem like much, that extra amount can put a hole in your wallet. Instead, opt for the 99 cent rentals from Redbox. Rental codes that provide customers with free rentals are readily available online and can help your savings to grow even more. Newspapers and magazines subscription services can also add up to a great deal of money and continuing to spend on these products dampers your ability to save money each month when you could just as readily read the same information from their website or on the newsstand while you’re waiting in line at a busy store.

Avoid high-priced theater tickets

If you’re anything like my wife and myself, you’re probably a movie buff. But if you’re wondering how you can save money each month and still be able to indulge in your favorite new releases there are ways in which you can still enjoy the theater without paying the high price. Instead of an evening showing, go to a matinee or a second-run movie theater. You can also save money by purchasing your tickets in a family package which will give you a reduced price in comparison to individual ticket purchases.

Buy used

I know that brand new $20,000 car is calling your name but rather than buying it and having the overwhelming monthly car payments you could opt for a used car that is 2-3 years older but with low-mileage and the same model and make as the new car. I recently went with this choice myself recently when buying a new vehicle and was able to save roughly $14,000. However, buying a used car is not the only way that this tip can be sufficient in helping you learn how to save money every month. Test it out in other areas too, such as when purchasing clothing, electronics, books and other products which come with a high price tag.

Pack Your Own Lunches

Until we tested it out for ourselves at home, I was one of those who thought this suggestion was quite silly. After examining our budget and noticing exactly how much we were really spending when dining out as a family for lunch and dinner, well, let’s just say that the amount was sufficient in boosting my support for this tip. Even if you only pack your own lunch a few times throughout the week and can cut your spending on dining out in half, you are generally going to save a couple hundred dollars per month.

Keep maintenance in check

Keeping up with scheduled services on your car (oil changes, checking fluid levels, tire inflation) and regularly checking your home for maintenance issues can also help to save your wallet some agony. While it may not seem as though you are actually saving money this way, you can reap the benefits in the future when you are potentially saving thousands of dollars that may have been spent in the future on fixing things that could have been avoided.

Give yourself a probation period

If you’re an impulse shopper and are prone to buying on a whim, you could go a long way in giving yourself a probationary waiting period within which time you are not “allowed” to make any impulse buys. The higher prone you are to making spontaneous purchases, the longer you should wait before allowing yourself to give in. Personally, I like to give myself a waiting period of at least one day before I confirm my decision to invest. If the price tag is high, my waiting period is understandably longer. Even better, rather than making impulse buys with a credit card, save up and pay cash instead. By the time you’ve successfully saved the amount needed for the purchase you may have decided that you no longer want it, but if you do you will have avoided the high interest rates that credit cards tend to impose.

Eat, then shop

One mistake that I often make is shopping for food when I am already ravenously hungry. This often results in unnecessary purchases and foods that may not be eaten before spoiling. Avoid impulse buying by composing a grocery list and sitting down for a meal before heading out to the grocery store. For more tips on how to save money every month on your grocery bill, check out this post.

Don’t be afraid to ask for discounts

You can often find special services and discounts on products that you already use and buy by simply asking. Placing a phone call to your local internet provider, for example, can often result in a reduced price on your bill with a limited time promotional offer. Sometimes they will offer you a discounted rate just to keep you from switching to a different service provider. Another way you can use this tip to assist you in how to save money every month is by asking for a reduced price or discount when paying your medical bills. Just last year, we were able to save about 20% on my wife’s medical bills by asking for the discount and paying with cash as opposed to check or credit accounts.