( OPRAH.com ) -- The recession has millions of consumers spending less , saving more and paying off debt . The fact that we are adjusting to the reality of this economy is good news , to be sure . There are items in any budget that can be scaled back easily . Financial expert Jean Chatzky warns there are items you should not cut out of your budget . But there 's some spending areas where you should n't budge . Retirement planning . The Pension Rights Center counted about 20 corporations in December that announced changes to their 401 ( k ) plans . Many others have discontinued or downsized their traditional pension plans . If your company is still offering matching dollars , you should keep kicking in money to grab them . `` To get that free money from your employer is so important for the long-term growth of your retirement nest egg . Especially now , with the down market , when you 're dollar-cost averaging in at lower prices , that free money has more value in the long run , '' said Derek Kennedy , a financial planner in Cincinnati . If your company has cut back , it still pays to contribute . Also consider an Individual Retirement Account . You can get your money out any time and , after five years , use it without penalty for a first-time home purchase . Insurance . Do n't cut your homeowners insurance thinking that because home values have dropped you do n't need as much coverage . What you 're paying for is the amount it would cost to rebuild your home and replace your belongings . If you need to save , boost your policy 's deductible . Raising it to $ 1,000 from $ 500 could shave 25 percent off the cost . Exercise . Blue Cross Blue Shield of Minnesota just completed a study that found that people who go to the gym at least eight times a month have significantly lower health costs than those who do n't . You can get those same benefits by going for a brisk walk , running or riding a bike or by spending less than the cost of a monthly gym membership on a pair of dumbbells . Healthcare . Some cuts are fine -- generic drugs instead of name brand , for instance . But skipping doctor visits is a bad idea , and so is canceling your insurance . `` I 've seen so many people go through horrendous financial nightmares and even bankruptcy because they do n't have health insurance . This is just not one you want to mess with , '' said Jonni McCoy , author of `` Miserly Moms : Living Well on Less in a Tough Economy . '' Charity . Giving to others can make you feel better about yourself and your situation . If money is tight , donate items you no longer use , give canned goods , shop at thrift stores that benefit a charity or share some of your time . Oprah.com : Five steps to secure your financial future . By Jean Chatzky and Arielle McGowen , Oprah.com exclusive , March 2009 . Subscribe to O , The Oprah Magazine for up to 75 % off the newsstand price . That 's like getting 18 issues FREE . Subscribe now ! TM & © 2009 Harpo Productions , Inc. All Rights Reserved .
Financial expert Jean Chatzky : Do n't cut house insurance coverage . Continue contributions to 401 ( k ) if your company is matching . Study finds exercise significantly cuts health care costs . Comment: