During the expense-filled holiday season, it may seem impossible to even think about trying to put a little money aside to meet long-term goals.

But one of the goals of University of Wisconsin-Extension's Money 2000 and Beyond personal finance education campaign is to encourage participants to reduce debt or increase their savings to improve their financial situation for the new century.

One way that people can save toward a goal or reduce debt is to cut on household expenses, says Linda Boelter, Certified Financial Planner and UW-Extension family financial management specialist.

A few ideas from the Money 2000 and Beyond campaign include:

Brown bag it to work. That can of soda you buy every workday for 65 cents adds up to $162 per year. Buy a 12-pack on sale for $3 to bring to work, and you save $100 per year. If you bring a lunch to work every day instead of eating out, you can save several hundred dollars per year. The same is true for snacks and other drinks, like coffee.

Get a cheaper credit card. Current issues of financial magazines, such as Money and Kiplinger's that can be found at many public libraries, list low-rate and no-fee cards. Transferring a typical $2,000 balance from 18 percent to a 10-percent credit card saves $160 a year in finance charges. Another way to reduce rates is to call your credit card issuer and request a lower rate. Many will lower your rate to keep you as a customer.

Slash food expenses by 10 percent. Buy fewer snack foods and make better use of store and generic brands, coupons and advertised specials. Trimming 10 percent, or $10, from a weekly food bill of $100 saves $520 per year.

Get discounts. Many products and services, such as insurance, hotels and car rentals, have discounts. By asking, "Is this the best price available?" every time you book a motel room or rent a car, you could save money.

Be patient. Waiting for items you need or want to go on sale can save hundreds of dollars. This is especially true for clothing and "seasonal" items, such as yard-care supplies.

Get a long-distance telephone savings plan. Every long-distance carriers offers a savings plan for people who request it. You may have to call at designated times, such as nights and weekends, to get the best deals. If a plan saves you $20 per month, that's $240 per year.

Get an insurance analysis. You may be paying for unnecessary coverage or may be missing valuable discounts. Ask an agent to review your policies. If you are paying several thousand dollars a year for insurance of all types, some savings probably exist. Consider consolidating all property coverage (auto, home or renter's, and umbrella liability) with the same carrier.

Shop "alternative" vendors. Shop where you can get the best value for your money. Inexpensive sources of toys, tools, appliances, clothing and home furnishings may include flea markets, garage sales, thrift shops and consignment stores. You may be able to save hundreds, or even thousands, of dollars.

Earn more on savings. Don't let savings languish in a bank account that pays only 2 or 3 percent interest. You are losing money after inflation and taxes. Move money into a CD or money market fund to earn a higher rate of return.

Slash financial institution and investment fees. Avoid financial institutions that charge high fees or require large minimum balances on low-yield accounts. Shop around for a better deal by comparing characteristics and fee structure of at least three accounts. Also, avoid high brokerage firm commissions and above-average mutual fund expense ratios.

Get a match on your retirement fund. If your employer offers a 401(k) supplemental retirement plan, be sure you are contributing at least enough to earn the maximum employer match. Many employers, for example, match 50 cents on the dollar up to a specific percentage of salary. So if you contribute $2,000 to your plan each year, the company adds $1,000 to your account.

Refinance your mortgage. Consider this only if you plan to stay in your house long enough to recoup the cost. For example, a no-points refinancing costs about $1,000 in application and attorney fees. Trading an 8.75 percent, $60,000, 30-year mortgage for a new loan charging 7.25 percent saves $60 per month, or $720 annually.

For more information on the Money 2000 and Beyond campaign, contact your county UW-Extension Office.

*** linda.boelter@ces.uwex.edu

© 1997-1999 Board of Regents of the University of Wisconsin System, doing business as the Division of Cooperative Extension of the University of Wisconsin-Extension.

If you have questions or comments about the Money 2000 Web site email Linda Boelter at: linda.boelter@ces.uwex.edu