There are several easy ways to save money and the benefits are many. It goes without saying that the more you save by reducing your spending, the more money you can apply toward paying off debt.

Contrary to what we are told about the importance of saving money for retirement or just to have an emergency fund, it is imperative to first pay off debt. Paying off debt first is important because interest on debt is generally higher than any interest that could be earned if money were invested or placed in a savings account.

For the sake of this article, we are going to talk about saving money in the context of reducing every day expenses. It is impossible to reduce expenses without a solid plan. The best plan is to use a monthly budget planner. Knowing where the money comes from and where it goes will reveal several easy ways to save money every month.

Here are five easy ways to save money on every day things:

Trim some premium cable services. Some people have gone as far as eliminating cable service all together. I am not suggesting that here, but there are some things you can do to reduce your cable bill. Review your monthly cable bill and think about cutting back on some of the service. You can cut out the movie channels or move to a less expensive package with fewer channels.

Eliminate your home telephone service. This is a great way to save money if you already have a mobile phone plan. If you’re comfortable relying only on a mobile phone, there is no reason to continue paying for a land line.

Rent movies from Red Box for $1.00. Get your moves from Red Box. It costs just one dollar per night. This is a much cheaper option than your local video store or using On Demand with your cable company.

Request a lower interest rate on credit cards. Some credit card companies may be willing to lower the interest rate on your card balances if you ask. You may be surprised if you ask. If your credit card company refuses, switch to an introductory low interest credit card or a one of many 0% APR credit cards.

Bundle your telephone, cable, and internet. Many companies now offer bundled services for less. Another advantage of bundling is the convenience of a single bill.

These five easy ways to save money are only a few of the methods you can use to reduce monthly expenses. Creating a budget and tracking all of your expenses will help you find many more areas to save money. Learning how to budget and save money is a major step in achieving your financial dreams.