This is common, frequently posted tip but the most important point is rarely stressed enough: if you update your W9 so that you owe a small amount, you must have a savings or investment account that pays interest and you must save at least as much as you would pay in the excess withholding. For some people, the extra money every paycheck makes sense. For others, the forced and inaccessible "savings" that a refund provides is better.

The freezer is your friend. Learn how to cook a few items that can be frozen. Eat at home at least 5 nights. Eat in a different neighborhood restaurant at least once a week. Make a list of 10 local things to see/do. Cross one item off that list every week.