As we all try to buckle down on expenses, saving a nominal amount, say $50 every month, may help alleviate the rising costs of food, utilities and just about everything else. Here are some suggestions on how you may be able to carve out and put away those precious dollars.

• If you and your spouse both work, take lunch with you instead of eating out. The money saved per week can certainly add up to more than $50 between the two of you.
• If you smoke, try giving it up. At a cost of approximately $5 per pack, you can save a minimum of $35 in only one week to put into your savings account.
• If you have credit card debt, call each company and ask to have your interest rate lowered. Figure out how much you'll be saving and put that amount into your savings.
• Do you dine out often? If so, you're probably dropping considerably more than $50 a month right there. Instead, eat more meals at home and bank that savings. You might also consider spending a Saturday afternoon cooking and freezing meals for the month. This can add up to substantial savings, as well.
• When purchasing gas for your car, find a station that offers the cheapest gas that's still compatible with your automobile. Or, if you can use public transportation instead of driving, calculate the amount of savings you would incur for a month, and sock it away.
• Rent DVDs instead of buying them. Borrow books from the local library instead of spending money to purchase them. Check out garage sales and flea markets to find CDs, DVDs and books that you can get for a $1 (perhaps even less).
• Look for fliers from your local Sunday paper and cut out coupons for your next trip to the supermarket. Also check online sites that offer coupons for items you need. For any incidentals such as paper supplies, napkins, tissue paper, toilet paper and the like, get them at the local dollar store. Most dollar stores also carry food items, as well as household products and other things you normally pay a premium price for in department- or drug stores.
• If you have a large gallon jug or jar, put your pocket change in it at the end of each day. You'd be surprised how quickly this can add up.
• Take an inventory of your home and decide where you can save money. Replace incandescent light bulbs with new halogen ones, turn off the lights and electrical items when you leave a room, use the AC or heater only when it's absolutely necessary, and unplug appliances when not in use. You can save money and become energy-efficient at the same time.

At first glance, it may seem a difficult task to put aside $50 every month. But when push comes to shove and the bills are piling up, you can find a way. Take a good, hard look at your situation, then cut out the extras and zero in on just the basic necessities. Before you know it, you'll have built up quite a nest egg.