Many people do not think that small purchases will hurt their finances. However, these small purchases can add up over time. If you frequently make small purchases, then you may not have extra money for an emergency repair. It may also be harder for you to break the check to check cycle.
Shane Mason is a financial planner and accountant. He has some tips for people who want to get their finances in order.
How to Save Money on Food
Shane recommends that people cook at home. Cooking at home is a lot cheaper than eating at a restaurant every day. It is also a healthier option. He stated that if you do not like to cook, then you should get together with friends and take turns cooking. He also stated that people should cut down on their alcohol consumption.
How to Save Money on Transportation
If you need a car, then Shane recommends that you buy a used one. He also stated that if you use Uber, then you will need to use an Uber Pool. You will share a ride with someone and save money.
How to Save Money on Bank Fees
Many people use another bank’s ATM several times per year. This can cost you hundreds of extra dollars per year. You are charged an ATM fee and a bank fee. Shane recommends that you use your own bank’s ATM as much as possible. He also recommends that people use an online account.
How to Save Money on Housing, Gyms and Phones
Housing is the biggest expense that most people have. Shane recommends that people live with roommates to save money. He also recommends that people shop around for cell phone service and gym membership. You may not be getting the best deal with your current plan or membership.