(MS) Everybody is looking to cut back these days and make their paychecks go a little bit further. With bleak financial news, including rising fuel prices, increasing unemployment rates and escalating food costs, grabbing most of the headlines, households are looking for answers on what they can do now to staunch the financial bleeding.

Now is not the time to borrow, say most economists, even if the bailout actions taken by the U.S. government do make the banks a little less uptight about lending. Think about large purchases that would require borrowing from a lender or put on credit and find other answers.

"Being prepared is being prudent," says Bill Penn, an economist. "Say to yourself, 'Do I really need this?'"

Giving your overall spending and budgeting another look can also help. When was the last time you evaluated your purchases and determined if you really need all the extras, or if there were areas where you could cut back? Consider scaling down the luxuries. Here are some things that you can cut that may not affect your lifestyle much.

* Cancel cable/satellite television, or at least remove the premium channels for a savings.

* Reassess phone plans. You may be able to ditch landlines if you have an adequate mobile phone plan, or vice versa.

* Consider switching back to dial-up Internet service over higher priced high-speed. Or, use free Internet at area restaurants, libraries or other public places for a little while to save.

* An economist during a television interview recently remarked that "everyday is a holiday in America." He was referring to the fact that regardless of the day of the week, many restaurants are packed. Eating out is expensive and cutting down could offer considerable savings to households used to eating out several times a week, either for breakfast, lunch or dinner.

* Evaluate subscription services. Maybe now is the time to reduce magazine subscriptions or membership in mail-in movie services.

Changes in what you buy can also have a positive effect on your ability to save. Shopping store sales is very important. Food purchases, for example, are the largest unfixed area of spending in a household -- and the area where individuals have the most opportunity to save. "Hundreds of dollars can be cut out if people just learn how to shop and cook differently," offers Jonni McCoy, the founder of www.miserlymoms.com, a Web site dedicated to teaching people how to live a more frugal lifestyle. Buying a lot of foods that are on sale and incorporating them into your menu is one way to reduce spending. Some other frugal families have found that shopping and cooking in bulk reduces impulse spending at stores and unnecessary trips to the supermarket.

Cutting out extraneous expenses can free up more money for paying down debt. Many financial experts say carrying high credit card balances, enjoying the extras or living beyond your means isn't financially prudent. Credit card companies are systematically raising interest rates and reducing spending limits, which could cost you more on carried-over balances.

It may take some purse-tightening and getting used to living without all the extras today's society has grown to depend upon, but it is possible for the everyday family to cut down on household spending and survive a faltering economy.