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10 Painless Ways to Save Money Now

These simple steps can take the sting out of higher costs

Ten easy ways to save and get more bang for your fewer bucks.

When prices are on the rise, it's essential to stretch your dollar, find discounts and save money. — Getty Images

En español | Despite the improving economy, consumers still find that their budgets are squeezed.

Soaring gas prices and higher Social Security payroll taxes are nibbling away at U.S. household savings.

Families are shelling out more to cover basic expenses, and at the same time taking in less.

The spike in gasoline — prices rose by 45 cents a gallon in January alone — emptied consumers' wallets quicker. And the decline in wages hasn't helped, either. Personal incomes plunged 3.6 percent in January, and disposable income dropped 4 percent, according to the latest data from the Bureau of Economic Analysis.

To take the sting out of higher costs, consider these 10 steps to shore up your bottom line:

1. Save at the pump

Go to sites like gasbuddy.com and fueleconomy.gov to find local gas stations advertising the cheapest price per gallon. You could save as much as 40 cents per gallon. And while you're there, check your tire pressure. Flatter tires can decrease fuel efficiency.

2. Best plastic

The website cardhub.com released its list of the best credit cards that offer gas rewards. Some are affiliated with the gasoline companies; others give rewards at the pump for using them at department stores, supermarkets and other establishments.

3. Online repair parts

You can buy auto parts for less online than what car repair shops may charge. Go to sites like autopartswarehouse.com or partsgeek.com to compare costs. Find a mechanic who is willing to install parts purchased online.

4. Carpool to work

If you can't find a colleague at work to share the ride, consider using erideshare.com to connect with someone in your area. It can save you thousands of dollars each year.

5. Morning pick-me-up

Instead of spending $5 for your daily cup of coffee at a local shop or in your company's cafeteria, make it at home and take it to work. Possible savings: $25 a week.

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Supermarket Savings: AARP My Generation shows how to save money and extend your food budget when grocery shopping.

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