Tighten the belt in 2011

Among categories of household spending, three are prime targets for easy, painless cost-cutting — food, insurance and telecommunications, or FIT. They are recurring expenses for which prices vary widely in competitive marketplaces, so examine them closely. Also, be liberal in defining those categories. For example, food includes eating at home, dining out and work lunches. Insurance includes car and home insurance and buying extended warranties. Telecommunications might include your wireless phone plan, your Internet and TV service.