How Can I Make My Bike Lighter?

I have a Diamondback joker...here's a picture of the bike...
http://i612.photobucket.com/albums/tt203/yamahaboi27/Picture004.jpg
I have left side pegs only, front AND back brakes, aftermarket sprocket, freewheel and back rim, and that's about it. How can I make the bike lighter?
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