Let’s suppose you invest $100 every month, and let’s also assume you invest it in a stock index fund that earns an average return of eight percent per year. Before revealing the results, note the emphasis on index fund. This is important to highlight because when you are investing in an index such as the S&P 500, not only do you get instant diversification, but you will also keep the fees you pay and the taxes you owe to a bare minimum.

Let’s also suppose the amount you save increases by three percent per year to stay in line with a hopeful increase in wages. So, if you invest $100 per month in an index fund such as the S&P 500, at an eight percent average rate of return, the following would result:

1. Invest your refund. Are you one of the unlucky people to get a tax refund this year? Remember, your refund is merely an overpayment of estimated taxes or withholdings that earned interest for Uncle Sam—not you. If you received a refund, evaluate your estimated taxes or withholdings and don’t give it to Uncle Sam as a tax-free loan. Instead, invest it. Doing so could very well provide you with that $100 monthly savings.

2. Brown bag it. Gotta work; gotta eat. Let’s suppose you eat out for lunch every day, and the average meal costs $12. That’s $240 per month in food costs. To save money, would you eliminate dining out every day? Not unless you wanted to miss the latest business news or find out how Jane’s date went with Jeff. So, let’s assume you cut down on the dining and eat out once a week. Doing so would bring your total monthly food costs to right around $50. You still have to feed yourself, right? So let’s assume you spend about $100 for some groceries. Do the math, and there you have it—you’re left with a $100 monthly savings.

3. Rideshare to work. Let’s suppose you travel 15 miles each way to work, your SUV holds 20 gallons and gets 15 miles per gallon. Two more variables are needed: Let’s say gas costs $2.75 per gallon, and there are 22 working days in the month. How much would you save if you carpooled with two friends? Sounds like one of those brain twisters, right? Do the math, and you’ll see that you can save roughly $80 per month. Bonus: You get to drive/ride in the carpool lane.

4. Energy checkup. It’s relatively easy to save a few dollars on your monthly energy costs. With a couple of touch-ups around the house, you can keep Al Gore happy. Check out the “Home Energy Checkup” at www.ase.org, to discover interesting ways to save a couple of dollars every month on your energy bill. Many local utility companies also provide an “energy audit” to their customers, free of charge. Just contact your local utility provider for more information.

5. Clip coupons. Do you buy the same staples at the grocery store week after week—your favorite cereal, yogurt, protein bars and maybe a pint of mocha almond fudge? Are you interested in saving a few dollars each month on these must-have purchases? Web sites such as www.soupons.com claim you can print their coupons and save more than $100 every week. Who says Double Stuf Oreos® are bad for you?

6. DIY (do-it-yourself) beauty. A day of beauty at your favorite salon can cost a pretty penny. If you pamper yourself once a month with a color/cut/blowdry and manicure/pedicure, plan to spend a minimum of $200, and that doesn’t include a tip. What if you invited one or more girlfriends over for a “beauty party” every other month where everyone helps each other with hair color and manicures? By doing it yourself, you’ve basically saved $100 per month and, in the process, probably had a fun time with your friends.