Does the financial world have you caught with a deer-in-the-headlights look on your face? If the answer is yes, don't feel bad. Not even the most respected economists foresaw the unbelievable rollercoaster the last year has become. However, the time for shock is over and the time for action is here. Saving money has become more important than ever and everyone can find new ways to save money. Here are five places to start:

1. Systematic Investing

Your finances may be tight, so how do you save money by investing every month? Systematic investing will save you money in the long-term as opposed to investing lump sums only when we have the chance. Investing every month gives you the chance to take advantage of market volatility and buy securities at lower prices when the market falls. You may have heard this referred to as "dollar-cost-averaging." Most models indicate this form of investing outperforms "cocktail party investing" or investing when the masses invest. The reason this has proven to be true may be because monthly investing takes away investor emotion. The famous economist, John Maynard Keynes, called the emotion of investors their "animal spirits", a term for their naive optimism. Th essence of Keynes theory on animal spirits is that external factors (politicians, media, etc.) influence our rationality in making investing decisions. This is where systematic investing saves the day. If you set up your investing account to make periodic investments of the same amount you will take emotion out of the equation. You will save money.

2. Refinancing Your Home Mortgage

Mortgage rates have never been lower. So don't wait any longer, compare your current mortgage rate with today's mortgage rates available from lenders. It is important to realize that even seemingly hopeless mortgage situations can sometimes be resolved. This includes homeowners with negative equity, negative amortization loans, bad credit, or even homeowners with upcoming balloon payments that they cannot pay. The Obama administration has support from both sides of Congress to support the housing industry and, in particular, stop the rising tide of house foreclosures. Loan modification programs and loan negotiation is possible. Check the websites GuidetoLenders.com and Loannetwork.com as a starting point for more information on refinancing options.

3. Making Online Bill Payments

It is shocking how much money gets sucked out of our checking accounts through late payment fees on credit cards and other monthly payments. Late payments can also cause unwanted increases in the interest rates charged on various lines of revolving credit. Although Congress is working on credit card reform, universal rate increases can occur on lines of credit from late payments on unrelated accounts. The absolute best way to avoid these disasterous late payment charges is to take the United States Postal Service out of the picture. Sign up for online banking with your online checking account and make your payments online. You can make the payment on the due date or any date you pick. You can even set up automatic payments which occur every month. Best of all, you can take care of all your bill payments from anywhere you have mobile access to the internet including your cellphone or smartphone. Online banking is easy and will save you money.

4. Credit Cards

Credit card rates should be lower. The major lending benchmark in the United States, the prime rate, is set at 3.00% right now. A majority of credit card companies are charging over 10% on their basic purchase cards. This equates to Prime + 7.00% - not a great deal for a consumer. The solution is to take advantage of the various card deals available. Balance transfer switching, if done correctly, can save a lot of money. 0% intro-APY offers are plentiful and make sense for some consumers. Research the latest card deals at Cardratings.com.

5. Reducing Monthly Payments

This is the tricky part. Cutting expenses. No one likes to give up their satellite TV, their cell phones, or their family vacations. The good news is that with some extra diligence you may not need to go that far. The next time you get set to pay your monthly bills go through each bill with a critical eye. Is there a cell-phone plan that is better than your current plan? Do you really need HBO? Should you pay off your computer lease early? Should I raise the deductible on my car or home insurance? Somewhere in the mix there are ways to save money. You just to have to be persistent to find them.