With the economy getting worse and worse, many people are cutting a ton of expenses and trying to save money in case of a layoff or other event. I have cut my spending down a significantly over the past few months in an effort to save money and still been enjoying myself during my free time.

I’m a pretty big videogame player, and will often buy the new releases when they come out. I often trade in the games for store credit after a month or two and use that money to get a new game. The credit I had been getting from Gametop is usually pretty low and you have to pay the full price for the game you purchase. Even eBay has become full on untrustworthy people, so I have turned to Secondspin.com. This site will give you cash for each game, DVD or CD you sell. Once I get the check, I head over to Target, or another store that actually puts games on sale, and make my purchase.

Another great source is GameFly.com. This site works the same way as NetFlix. Choose a rental plan, get the games in the mail, play as long as you want and send them back. If you find yourself getting pretty bored with your games quickly, this service is ideal for you. Plans start around $15, a significantly less amount then the $59 price of a new game. They even sell used games at a huge discount. You could teven keep the same game for 2 months or more and spend less than if you paid full-price. (Click the banner to the right and use the code TENDAY at checkout for a FREE TRIAL)

Cut your cable down to the basic package and watch shows on most of the major network’s websites. Heck, NBC even has full episodes of the A-Team. Hulu, not to be confused with Lulu, has an amazing amount of shows and movies available as well.

ITunes offers season passes for all of your “must see” shows and the cost is often far less than a monthly cable bill.

What are some of your favorite ways to cut expenses?