Whether you’re young or old, managing money is a part of your daily life. Passing through that toll booth on your daily routine, you don’t realize how that $3 can affect you later. There are many expenses today that could drag you down into the red if you aren’t careful. Money burns a lot faster than you may think. Here are some common expenditures and also some ways you can minimize them in your daily activities.
While you’re welcome to that well-earned fun after a hard day’s work, you certainly should be careful with your budgeting. If you live in certain areas, you may see toll roads or parking lots that require payment for leaving your vehicle there. Many GPS devices have the ability to help you avoid taxed roads without requiring that you travel too far out of your way.
Many cities offer free public parking in various areas, though it’s not always possible to find an open space. Even if you can’t avoid the parking situation in some areas, you should at least try to find the cheapest garage or lot near your destination. The average car costs around $9000 to own each year, and every little reduction in cost helps.
If nothing else, consider purchasing a bus or metro pass to save on gas and any other expenses related to car ownership. This can save on your commute to and from school, work, and anywhere in between.
While eating out is a pleasant break from eating at home, you should only occasionally spoil yourself with that treat. If you do plan to eat at a restaurant, do some research and try to get a coupon or discount of some kind. Some financial institutions are beginning to offer various reward programs for simply using their services, which could save you money in the long-term.
Don’t always throw away your receipts from various grocery stores. Coupons called Catalinas are often printed on the back of the receipt paper. There are many companies that offer printable coupons, so you can plan your trips to the grocery store without having to see which product is cheaper as you shop.
It’s hard to turn down that beautiful dress that sits in the window at your favorite store, but you have to resist. If you have the choice, avoid that part of town if you know you’re going to splurge and can’t stop yourself. Even if you absolutely have to buy those new shoes, there are options out there for you. Some stores offer expensive brands or similar variants for a fraction of the cost and have a spectrum of different styles.
It may sound ridiculous that money could cost you money, but in some cases it can. The average overdraft fee can be between $30 to $35 and can completely demolish your savings or checking account if you aren’t careful with your spending. Around 90% of overdraft fees are paid by 10% of any given bank’s customers; the majority of these people are in poverty.
If you’re the type to manage your money and balance your checkbook at the end of each day, then you shouldn’t fret. If you have a credit card, make sure you pay the correct amount each month and put in a little extra if possible. This will ensure that you pay off your debt a bit quicker and hopefully with as little accrued interest as possible.
Whether you’re looking to start up a serious savings account or keep your current account at a high number, you should be mindful of your expenses. Even the smallest things in your life can cost a great deal of cash over a long time. A good rule of thumb is to never spend money you don’t have.