Financial debt can certainly eat you up in more ways than one. It can rob you of sleep, it can cause you great anxiety, it can interfere with your marriage, and it can give you a severe bout of depression. While some of these go hand in hand, there are a growing number of effects of financial debt that can result in an unhealthy lifestyle.

With the world economy in crisis, there have to be certain things we can do to ease some of that burden. Well, there are plenty of practical money saving tips that can benefit you and your family financially. Let’s take a look at some of those things.

1) Drink water: the drink you drink daily should be water. This will not only save you money, but consuming at least 8 full glasses of water each day is extremely healthy for you.

2) Eat Out Less: Stay home and cook more often than eating out. You can still have that night scheduled for Friday or Saturday, but otherwise, stay home cooking more during the week and you’ll be surprised how much you’ll save in a year.

3) Ditch That Daily Morning Latte: You know that daily morning latte you think you have to have on the way home from taking the kids to school? Get rid of it, you don’t need it. Make your own at home and you’ll save a ton in just one month.

4) Dryer Vent Seal – Make sure your clothes dryer has a dryer vent seal. This is an air leakage control device. We have one in ours and it’s definitely a money saver.

5) Online Grocery Shopping – Try doing your grocery shopping online. Sometimes you can save a considerable amount of your hard-earned dollars by doing this. An added bonus, you’ll also save on gas and time.

6) Downsizing to a Family of Cars: Downsizing from a two-car family to a one-car family. Consider some carpool options and reassess your family’s transportation needs.

7) Homemade Gifts: When giving gifts, look at your creative side and make your gifts verses by purchasing them. Maybe you love to scrapbook, or maybe you like to crochet. Most people appreciate homemade gifts better than expensive store-bought ones.

8) Your children and finances: Teach your children early that money does not grow on trees, as the old saying goes. An allowance is a good thing for them to learn the process of making money. Also, instill in them the importance of saving.

9) Phone, Internet and Cable Bill – If you haven’t already, try combining all 3 on one bill. You can save a package by doing this. I know Charter and AT&T have good deals.

10) Combination of insurance in a single invoice: Many people have their health, life and home insurance through a single company. Many insurance companies offer this. This is worth checking as it can save you money.

11) Online Coupons – There is a ton of information on the internet, including coupons. Just type the kind of “printable coupons” you’re looking for on Google.com and you’ll get plenty of sites to visit.

12) Timeshare Vacation Deals – We all get those calls, right? Would you like a “free vacation”? Well of course there is always a catch to these offers. Often you have to attend a sales presentation that lasts an hour or an hour and a half. Many people take advantage of this. This can save you a ton of money. Type “timeshare vacation” into Google.com and you’ll find plenty of options.

13) Saving Food Leftovers: After meals, if you have enough leftovers, don’t throw them away! Freeze it and do something different with it for another mealtime. Also for small leftovers, save it for lunch the next day.

14) Yard and rummage sales – If you have time for these, go to them! Many times, you can find some really good bargains. And there are some people who have items of clothing that have never been worn (with the tags still attached) for sale at extremely low prices. These items may be just your size and what you’ve been looking for.

15) Walk instead of drive: Whenever possible and when you are within walking distance, leave the car in the garage and walk to your destination. Not only will you save on fuel and wear and tear on your car, but you’ll also get the necessary exercise.

16) Coin Saver: Coins can add up fast. At the end of each week, collect any extra coins that have accumulated in your car and in your purse, and store them in a good-sized piggy bank or container. From time to time take those coins to the bank and put the money in your checking account, savings account or just get the money in cash. This is great for saving for vacations or home improvement projects.

17) Enjoy time at home instead of going out: Invite your friends or have a family night instead of going out. If your family enjoys these special nights planned, make it a weekly routine. You’ll be surprised how much you’ll save in a year by doing this.

18) Keep Credit Cards at Home: Instead of keeping your credit cards in your wallet or purse, keep them at home in a safe place. This way, you will resist the urge to buy on impulse. Use them only for emergencies.

19) Set your bills to automatic bank draft: Instead of writing checks every month, save time and stamps and set your bills for automatic bank draft.

20) Save on electricity: When you’re away from home or overnight, adjust your thermostat. Do this for both heating and cooling.

21) Online Giveaways: There are tons of free websites out there. You may need to take a quick survey to get those items for free. It only takes a few minutes, take advantage of these sites and take the surveys. Worth saving a few bucks.