When it comes to cost cutting it depends on the person. What works well for one person can be a disaster for another. One person may cut out a daily latte while another finds that dropping the land line phone and cable TV that they rarely ever use is an easier way to make room in their budget. It depends on the lifestyle. I read in one discussion on couponing where a self employeed mother looked at the cost savings vs time and figured that it would make more sense for her to simply put in one more hour a week consulting. She'd make more money than the two hours a week it would take to coupon.
If a person does want to try it I would go to Money Saving Mom.com. She has a good tutorial on how to maximize your savings and links to printable coupons and matching store specials to check out. I save on average 30% on food and general household expenses using coupons so for me it pays for the couple of hours I spend on the weekend.