How to Save $5,000 Fast

From the Wall Street Journal

By BRETT ARENDS

Looking to raise some money fast?

First, call your insurance companies. Car and home. The typical
family spends several thousand dollars a year on insurance -- and some
of it's usually a waste. Press them on rates.

Raising your deductibles can cut several hundred dollars. If you use
different carriers, see if one will cut you a deal for giving it all
your business. Savings: maybe $400 a year.

Next, go after recurring expenses. They seem small but they really add up fast.

Cancel cable. With broadband Internet, Web sites like hulu.com and a
cheap Netflix account, you'll get plenty of entertainment. Savings: at
$80 a month, nearly $1,000 a year. For that matter, replace your
cellphone contract with a cheap prepaid phone. Savings: maybe $600 a
year.

Say goodbye to restaurants. If you ax just one meal a month, that's
maybe $600 a year minimum. A $15 coffee Thermos can save you $6 a day
-- about $1,500 a year. Yikes.

And clip coupons, already. You may spend $5,000 a year at the supermarket. If you cut that by 5%, that's another $250.

Still looking for spare cash? Everyone at home, sell five things on eBay. People will buy anything. Cash: maybe $300.

Grand total: Oh, about $5,000 a year. Easy.

Write to Brett Arends at brett.arends@wsj.com