10 Small Changes That Can Save You Big Money

Life just keeps on getting more expensive, and sometimes it feels as if we're powerless to stop it. While you and I can't impact the economy at large, we can make small changes to our personal finances to cope.

Moves as simple as turning down the heat and putting on a sweater, or working out at home instead of paying for a gym membership, can add up to big money saved over time.

Keep reading for 10 tiny tasks to make your life less costly.

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Before you head to the store, take some time to open the fridge, freezer, and all your cabinets, and see what you've got at home. Sketch in a meal plan based on what you already have, and write down the ingredients you lack so you only buy those. Impulse buys can be hard to resist, but a shopping list can also help you place a grocery order for pick-up -- eliminating the need to stroll through all the aisles.

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Plugging your info into insurance company websites isn't the most riveting way to spend an afternoon, but the results can be remarkable. If it's been a while since you shopped for car or home insurance, you might be surprised at how much you can save by switching insurers. Ask about discounts you might qualify for, see about bundling coverage, and if you don't drive much, pay-per-mile insurance could be a good fit.

This is not where I tell you to cancel every streaming service you pay for and pawn your TV. But it's absolutely a good idea to sit down with bank and credit card statements and see what exactly you're paying for every month. Can't remember the last time you watched Netflix? Consider canceling it -- or even putting it on pause for a month to see if you miss it. Your budget probably won't.

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This may not be the kind of move you can make regularly, but if it's been a while since you saw the back of your closet, what are you waiting for? Spend some time on a Saturday and mercilessly weed clothing items you haven't worn in years -- or at all. You can translate them to cash by selling them, or possibly receive a tax deduction if you donate them to a qualified nonprofit and itemize on your return.

That classic Dad advice is actually wiser than you may realize. Higher heating bills can eat away at your budget. If you make a point to dress warmly at home (and perhaps invest in a space heater to warm the room you're in), you can turn down your furnace and save money on the bill every month. For bonus points, do this and also sign up for budget billing through your utility company, which can help you pay a predictable amount every month.

Cars are expensive, but staying on top of maintenance (like oil changes and tire rotation) can help you save in the long run. Fixing a small problem before it becomes a bigger one means a cheaper bill at the mechanic shop. And ensuring your tires are properly inflated can improve your gas mileage. Finally, keeping an old paid-off car for as long as you can (assuming it is safe and comfortable to drive) is a great way to cut down on the cost of ownership.

If you can avoid the temptation to overspend that credit cards are notorious for, applying for the right kind can save you money by paying back a percentage of what you spend. Consider a flat-rate cash back card -- you can find them paying 1.5% or 2% across the board. If you have higher spending in some budget categories, target higher rates on those instead -- a gas and grocery rewards credit card is a smart move for many people.

Treating savings account contributions as a must-pay bill (rather than an afterthought) is a great way to "pay yourself first." If you don't have to remember to save, there's no chance of forgetting. Set up automatic contributions through your bank, and have cash sent from your checking account to your savings whenever you get paid, weekly, or whenever works for you.

Depending on your income and bills, it may be unrealistic to ramp up payments to the point that you can quickly shed all of your debt. However, any extra you can put toward those payments can make a big difference. Let's say you owe $5,000 on a credit card, and your minimum payment is $100. Meanwhile, your balance is piling on interest at 20% APR. Paying $150 toward the balance every month (rather than just the minimum due) gets you out of debt in 49 months (versus 106 months), and you'll pay just $2,205 in interest (rather than $5,503).

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Definitely don't quit exercising (because the benefits of being active cannot be overstated), but reconsider whether it's worth paying a monthly membership fee to do so. If you're an active member of a low-cost gym, it might well be. But if you struggle to get there or pay a lot every month, could you instead walk, jog, or run around your neighborhood? Do you live near a park with walking trails? There might even be room in your basement for a lower-cost (maybe pre-owned) treadmill, elliptical, or other piece of user-friendly exercise equipment.

Just as a journey of 1,000 miles starts with a single step, saving $1,000 (or even $10,000) starts with that first dollar. Use these tips to cut your costs and improve your finances in the process.

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The Motley Fool has positions in and recommends Netflix. The Motley Fool has a disclosure policy.