So you've been looking at that huge flat screen TV, but it does not fit into your budget. And unfortunately, your credit cards are maxed out. It looks like the flat screen is another item to add to that growing wish list that will never happen.

But it does not have to be that way. With careful planning, you can easily save enough money to get that flat screen, vacation, or even that new car you've been drooling over. It's just a matter of priorities. All of us spend money on small frivolous items that we can really do without. If you take all of your little impulse purchases, it can add up to a substantial amount at the end of a year.

Take that coffee you buy every morning on the way to work. Along with the occasional bagel, it amount to about $ 2.50 per day. It does not sound like very much money and you can easily afford it, so what's the problem? The problem is this; If you bring in a coffee from home, you can save that $ 2.50 expense. Over the course of a year, you will save about $ 360 from this little change.

Have you considered refinancing your mortgage? Interest rates are currently at historical lows. If your existing mortgage rate is significantly higher, you could save $ 200 to $ 300 a month by refinancing. (Of course, you should consult with a professional before making a decision like this.) If refinancing is right for you, you could easily save $ 2400 per year.

Food is another area where you can save money. Never go shopping without making a list beforehand and only buy items on your list. This will eliminate those impulse purchases that can really put a dent in your budget. Use store brands and generations instead of the name brands. Use coupons and look for stores that offer to double (or triple) them. By making just a few of these changes, you can easily shave 15% off your food budget. Your annual savings could easily add up to $ 800 a year.

The few savings listed above add up to over $ 3500 a year. You would have more than enough to get that flat screen TV. You might even have enough left over to order a high definition pay per view movie.

Get all the details on how to slash expenses and put money in your pocket!