With all of the stock market woes, and the slowing economy, things are getting tougher for all of us.

It might be a good idea to take a look at our own personal situation to see where we can get a little leaner.

Financial expert Aaron Maguire has some tips on trimming the fat.

Aaron where do we start?

Start to focus on you and your family

Figure out where your money is going right now, get out a pad and pen and write down all of your expenses for the next week and month.

This will give you a good idea of where you are really spending your money and where you can cut back

Don't worry about the Joneses across the street who have all of the nice things you want, because the Joneses are probably going broke right now

Eat out less

Pay cash for things you buy

If you have credit card debt, call your card company for a better rate or switch the balance to a 0% finance card, that will usually last for 6 or 12 months!

What about your job?

Make sure that it is secure, give it a 100% each day you are there

Are you in a career that offers you opportunity for advancement?

If you don't like your job, find a better one. Life is too short to be unhappy

You will often spend money on things you don't need to make you happy or reduce your work stress.If you have an idea that you think will make you money, follow through with it and see what happens, you might surprise yourself.

Is there anything we can do with all of the things we currently own?

Ask yourself, do i actually use everything i own? Look in each room of your home and pick out the things you have not used in the past year or two. Put them on ebay or craig'slist or the local news paper and sell them. Put the money in your savings account.

The next time you want to buy something, ask yourself if you really need it or you just want it? Stay away from the wants!!