Everywhere you look nowadays, there is always an ad persuading you to buy something. And financial institutions make it easy to acquire these things. While taking out a Hollywood title loan may dampen the impact of expenses on our wallets, it is best to know how to manage finances. It is always managing the small things that help you save tons of money.
Let’s take a look at how easy it is to save money fast.
Food is one basic need that we cannot remove from our expense. But spending money on food need not be reckless. There are a lot of ways to save money on food. Most people spend USD 5 a day for their caffeine fix at their favorite coffee shop. That easily translates to USD 1,825 a year. Instead of buying coffee from a coffee shop, you can still have your cup of java every day if you buy your own coffee grounds. You just need 52 cents for high quality coffee grounds to make a 16-oz cup. That is only USD 189.8 a year. To save money on grocery, it is best to use coupons. The savings you get depends on the number of coupons and the type of coupons you get. You can also save money when you bring your own food to work or school. It is so much cheaper when you buy your food from the grocery. Bring your own salad or sandwich to work, along with a smoothie you made.
Another expense we cannot get around of is transport. Using a car is absolutely more convenient. However, the cost of maintaining car, not to mention the cost of fuel (around USD 3,300 a year), can pile up. The older the car, the more expensive it is to maintain it. For a car with a mileage of 15,000 miles a year, maintenance cost can run up to USD 8,500. Using alternative means of transport will be lighter on the pockets, not to mention the environment. Riding public transport is much more affordable. With a subway ticket or bus ticket only at USD 2-5 per ride, that may amount to USD 3,650 a year.
Another necessary expense now is communication, e.g. internet connection, calls, and SMS. Monopoly drove prices sky high but competition lowered prices and even got companies to offer cost-efficient packages, especially for international calls and roaming. Travelers can rack up thousands of dollars in telephone bills placing international calls and SMS. But registering to a mobile data package and using apps like WhatsApp or Skype to place calls or send SMS is a lot cheaper.
There are a thousand and one ways to save money quickly. What is the most important is to list down your current income and expenses and assess which expense you can do without or minimize.