Cut your spending by $500 a month

In today's tight economy, who doesn't want to free up some cash? Trim the fat but not the fun from your budget - here's how.

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Monthly savings up to: $140*

Organize a babysitting co-op with neighborhood parents and take turns watching the kids for free. Your kids will be happier with their friends -- more fun for them and fewer games of Chutes and Ladders for you (whew!). Or go in on a sitter with another family, paying, say, $10 an hour apiece instead of the usual $14 (more kids means a higher total rate for the sitter).

NEXT: Pamper your pet for less
Last updated August 17 2009: 9:37 AM ET
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Note: Assumes five hours of babysitting twice a month
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