Dealing with Social Security tax increase by putting more cash in your pocket

CLEVELAND - Paychecks will start getting smaller as the Social Security payroll tax rates increase. To deal with the tax hike you'll soon see in your bank account, you can take simple steps to find more money.

Instead of anticipating a big tax refund, adjust your withholding. That way you can earn interest on your money throughout the year rather than the government earning interest on it. While the big tax refund checks are nice in the spring, you could put extra money in your bank account each month by adjusting your withholding. To figure out the best rate for you, use the worksheet from the IRS .

Apprisen , a company with counselors who work as financial advocates, suggests you also pay with cash. The company said that typically saves you 20 percent compared to those who use credit.

Interest rates are at rock bottom rates, so it's also a good time to refinance your mortgage. While there will be an upfront cost to pay for the refinancing, the amount you save over the life of your loan may be worth the costs.

Look at your finances, and look for ways to shave $10 off 10 spending categories. It's an easy way to find extra money without cutting into your spending too much in any one category.

Apprisen also suggests you try do it yourself projects. Don't pay to have your car washed. Do it yourself.

Look around your home for things you can sell. Consider a garage or tag sale this spring. Also, get rid of old electronics. You can recycle them and earn cash.

Finally, shop around for insurance. Make sure you're not paying too much for premiums.

Want to know how much your paycheck will decrease? Use the interactive calculator from Kiplinger .