A recent MSN Money article discussed some areas where consumers can save a little bit of money each month. A good saving strategy would have you look at your current monthly bills and find a way to cut them without sacrificiing any quality. For instance, we’ve talked at length about saving money on groceries. The article also goes to to talk about a few other areas where you and I can save money.

• $65 monthly by getting cheaper car insurance.
• $110 by optimizing its life insurance.
• $200 through smart food shopping.
• $35 in phone costs.
• $25 in bank fees.
• $65 by paying off credit card debt.

[Source: Consumer Reports]

We can probably find other ways to save money too. Like how much we spend on entertainment. What about renting a movie from a Redbox or Netflix service instead of paying BlockBuster or Family Video? How about the habits we can break to better our living condition and our health, like stopping smoking, drinking, or other extravagances? What about the gym membership, movie channels, cable TV, and even newspaper subscriptions? I suppose those things add to our quality of life and those listed by Consumer Reports still give us the base service, but for cheaper. Although I do think by finding alternatives for our entertainment we can save a lot of money each month.

So the article states you can save close to $500 a month by paying attention to where you spend your money. Of course, to save money on credit card payments, you need to pay off the debt. If your bank charges you, then you haven’t been paying attention — there are plenty of free chacking banks in the US. A smart food shopper might clip coupons, buy in bulk, and register for payback points at participating stores. It pays to pay attention.

The added $6,000 a year could be used partially for an IRA, to improve a home, or to save for your child’s education. Why not start thinking about the ways we spend our money today?