While $50 may not seem like a whole lot of money, that’s roughly $1,500 a month. That’s a mortgage payment and a month’s worth of groceries for a lot of families. A little bit of savings can quickly add up for you.

By being looking at your expenses and knowing where your cash is going, you can be a smart consumer and find ways to pay less. This does not mean you have to be cheap or cut back on your expenses. By being resourceful and thoughtful about your spending, it is possible to buy the same for less.

The Kiplinger Smart Savings guide breaks down how you can cut your expenses in some of the core areas of your life. This includes areas such as:

• Food and Shopping
• Utilities
• Insurance and Medical Bills
• Gas and Auto Maintenance
• Entertainment Expenses

By being aware of how cash flow (how much is coming in and where money is being spent), many people can quite easily save $50 or more every single day. The best way to get started with this is to print the past three months of your bank and credit card statements. Take a look at where your money is going, and highlight the areas where you could have either done without making the purchase or found a cheaper alternative. You might be pleasantly surprised at just how much of your money you can keep for yourself by being a more responsible consumer.