Personal finance writer Greg Karp has taken a new approach to the financial reporting field. Most financial writing focuses on investing. But Karp has begun writing about how to not spend. It's what you don't spend that creates the breathing space in your life. His latest book, Living Rich by Spending Smart, offers things you can do daily and monthly to save. He's gone through a basic budget and -- by changing a stop at a convenience store or what you spend on your cable bill -- found that you could come up with an extra $7,000/year. Clark likes Karp's thinking because it deals with the immediate; it's not about cutting out a cup of coffee and ending up $100,000 richer in 30 years.

Think about your own life and the changes you could make. For example, say you just can't bear to part with your useless monopoly landline; you could, however, be paying less for it. Maybe you can trim off the voicemail fee by getting an old-fashion answering machine. Think about every bill you get and what you can do to cut it. You may not come up with $7,000 at the end of the year, but you're bound to come out with something more than when you started.