While sure it’s good to ask yourself is lyft or uber cheaper when it comes to saving money on a responsible ride home from the bar, but was going to the bar worth it? Well, I guess probably if you needed a long overdue night out, but what about some of your other spending behaviors? If you take a look at your last debit or credit card statement and go line by line, you could be surprised at just how much money you are wasting every month.
Going Out to Eat
Sure, it’s nice to not have to cook or clean, and have your food served to you, but that comes at a premium price. Between grabbing coffee on the way to work, going out to lunch, grabbing carryout for dinner, or even taking the whole family out, can add up pretty quickly. If you can do a little meal prepping and take your list to the grocery store, there might be some upfront cost if your pantry is pretty bare right now, but once you get into the hang out eating at home and not going out as much, you’ll see significant savings add up quick.
Paying Credit Card Interest
Credit cards are great in the fact that they allow you to make purchases throughout the month while not having to pay back until next month. Even better, that by making the purchases that you were going to make anyways, you can earn rewards in points or cashback. The worst part about credit cards, and where the creditor earns all of the money, is with interest. When you’re not able to pay the full statement balance by the due date, interest kicks in, and depending on the rate on the car, not to mention the balance, that can add plenty to your monthly payment until the balance is finally gone.
Buying a New or Used Car
I’m not suggesting giving up owning an automobile, as especially where mass transit is not available, is a primary need. What you can avoid though is actually buying a car. The sticker price is ridiculous, the maintenance can add up, only to finally owning it free and clear in 5-7 years, when you’ll be ready for a new car anyways. Save the trouble and get a new car every two or three years by leasing a car. The monthly payments are low, and as long as you change the oil a few times, you’re good to go.
Not Booking the Right Travel
There are so many third-party travel sites out there, who has the best deal? It all depends on when you book, where you’re going, and what deals are occurring at that time. I guess the point is, look around before you book. I have always had the best look booking on the actual hotel/airline/rental car company’s website. You get the lowest rate and the comfort of booking on their site if trouble does arise, they have to help you, instead of saying that you booked with a third-party and you have to take you complain to them.