Average Household Can Save $6k Yearly

Consumer Reports estimates that the average household can save $500 a month (that’s a whopping $6,000 a year) by paying attention to six things:

1. car insurance – the average household can save $65 monthly
2. life insurance quotes – there’s $110 monthly to be saved
3. grocery shopping – sales and coupons can save $200 monthly
4. phone bills – there’s $35 a month to be trimmed from this utility
5. bank fees – knowing your bank balance and withdrawing appropriately can save $25 a month
6. credit cards – the average household pays $65 in interest fees monthly

The two big items that stand out for us are grocery shopping and credit cards. Contrary to my recent bank fee debacle, we have the other four items nipped in the bud.

Can paying attention to those six items save your family $500 a month? What’s a realistic savings amount for your budget?