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Consumer Reports: Saving Money Made Easy

PITTSBURGH (KDKA) ― Many of us are feeling a financial pinch these days, but Consumer Reports found you could cut your spending by $500 a month without radically changing your lifestyle.

You might be able to drive down your car costs by an about $65 a month by finding cheaper auto insurance.

"The internet makes comparison shopping very easy," said Greg Daugherty of Consumer Reports. "In most states, you can go to your state's Insurance Department to find out what different insurers charging for their policies."

Next, pull out your life-insurance policy.

Premiums have dropped dramatically since the 1990s, so if you have an old policy you might be better off replacing it.

Making the most of your life insurance dollars could save you another $110 a month, and when it comes to life insurance, regular exercising can pay off.

Once you have lost weight, ask to be re-rated for a lower premium.

"A 40-year-old man with a $1 million life insurance policy could save $50 a month by getting his cholesterol down 30 points," explained Dougherty. "He could save $65 a month by losing 50 pounds and getting down to normal weight and if he quits smoking, after three years he'll save $165 a month."

Shopping smart for food can save you as much as $200 a month.

Try less-expensive brands.

Stock up on staples like cereal, pasta, and canned goods when they're on sale. and cut back on prepared foods.

Every little bit adds up.

(© MMVIII, CBS Broadcasting Inc. All Rights Reserved.)

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