The new year is here! It's time to start fresh with new ways to bond with the children in your life... and with new ways to look at your budget.

Sounds like a good idea, but where can you find places to save when budgets are already so tight? I have five great ideas that can help you save for that trip you're planning with those kids later this year - or whatever you have in store for yourself. If each of my tips can save you $25 a month (or more!), that is an easy extra savings of $125 a month. Then, you can setup an automatic savings to a mutual fund yielding 7% (on average) and in five years you have almost $9,000. In twenty years, you have $65,000. Imagine, by just finding five places to plug!

Your cable bill. I just realized that I was not using Netflix. It made more sense to either downgrade my service or cancel it and just go to the video store. At the same time, I checked my cable bill and realized I didn't need all those channels as well. $40 monthly savings.

Insurance. If your home-owner's premiums are high, consider increasing your deductible. Just make sure you have some money set aside in an emergency savings account to protect yourself for small emergencies. This will make a big difference in your monthly premium. $50-100 monthly savings.

Newspaper and magazines. Are you guilty of buying People or US magazine at the supermarket? If so, maybe it's worth investing in an annual subscription. On the other hand, do those daily newspapers or magazines pile up? Consider canceling those subscriptions or getting the newspaper delivered on the weekend only. $30 monthly savings.

Keep your cell phone number, but change the service. Start by calling your cell phone provider and see what they can do for you. I always save money when I make those calls. At the same time, perhaps the company you have had for years isn't the best one. Shop around. $20 monthly savings.

Lower your rates. Call your credit card company today and ask for a lower rate. It usually works! $25 monthly savings.