Food might be one of your family’s bigger expenses each month. Clipping coupons can help, but we've rounded up several other ways you can decrease your food expenses. With a little extra time and some strategizing, you can save a lot of money on food this year!

Try generic brands. If you are skeptical about the quality of generic brands, compare the ingredients. Most of the time, ingredients are identical! And when comparing different brands, be sure to look at the unit price on the tag to avoid doing extra math. If you like to buy organic foods, look for the store’s own line of cheaper organic foods such as 365 at Whole Foods.

Find a good discount store. In the April 2009 Real Simple magazine, Christiane Jory, author of The 99 Cent Only Stores Cookbook, suggests going to the dollar store for groceries! She says a “simple packaging mistake - say, in the color of the label - can mean a $5 can of artichokes sells for 99 cents.” She also says that expensive olive oil, balsamic vinegar and wine are the best bargains.

Incorporate vegetarian meals into your routine once or twice a week to save money on expensive meat. Most meats cost at least $3 per pound, while plant-based proteins like beans and lentils are less than $1 per pound. If you need some really easy and yummy vegetarian recipes, check out www.meatlessmonday.com. Meatless Monday is a national health campaign associated with Johns Hopkins School of Public Health which encourages people to give up meat once a week to cut saturated fat intake and prevent diet-related diseases!

Watch out for impulse buying. If a new food product or food brand catches your attention, ask yourself “Do I want this food because I really want to try it or am I just excited about the new package?” I have been practicing this lately and because I grocery shop for a toddler, I tend to get easily excited about new kids’ stuff. But I often find myself more impressed by the fun packaging than the actual food product. If you tend to be an impulse buyer, make fewer trips to the store altogether to cut back on those purchases.

Volunteer at a local farm this summer with your older kids. Many farms will give you free produce in exchange for your hard work.

Check expiration dates for the freshest and longest lasting foods. And on the flip side, if you find a great deal on pasta, soups or other foods that can stay on your shelves for months, stock up!

Remember that non-food items at the grocery stores are generally more expensive. Buy your batteries and toiletry items somewhere else.

Although it may take a little extra time and effort on your part, you can save a lot of money on food this year. Do you have any tips to share that have worked for your family?

The Obama administration has unveiled a $75 billion plan to help homeowners stay in their homes by refinancing their mortgages. From the New York Times:

The Homeowner Affordability and Stability Plan includes measures to allow homeowners to refinance into loans with cheaper payments, according to a summary of the plan. For example, if a lender agrees to lower a borrower's payment so that it makes up no more than 38 percent of his income, the government would pay to lower the payments further to 31 percent of income. The aim would be to make the payments affordable. ... Finance companies cannot currently refinance a loan if the homeowner owes more than 80 percent of the home's value. But under the plan, Fannie and Freddie -- which were taken over by the government last year -- would be able to refinance a mortgage if it does not exceed 105 percent of the current value of the property. For example, if the value of the borrower's property is $200,000, but the homeowner owes $210,000, he or she could still qualify for the program. The program will not launch until March 4. [Link]

The administration has also provided some examples of how homeowners in different situations can access these funds and what it will mean to them. You can see that here [pdf], as well as a detailed "FAQ" about the plan on Whitehouse.gov.

Much more at the New York Times.