Connect with us

Power & Money

Money Saving Tips for Single Men

Published

on

Money Saving Tips for Single Men

Is Money Saving as a single man easy? No way! We live in a world where the social structure for most men underlines wasting money. Wait, there’s nothing impossible, so there are many ways of saving money that single people can choose that couples and families can’t. If belief a study held by Experian and published in the USA Today, the average debt pressure of people aged 22-29 is $16,121! That’s too much and more than sufficient to put an obstacle to a young man’s quality of life. Check out the tips that can help you save some money.Money Saving Tips for Single Men

Thrifty Housing
One of the biggest fixed costs of living is housing. Before you set up a career, please, do not take on a mortgage. There are two better options for young, single men: whether to live with family or to share a room with friends. Even in urban areas with otherwise high rents, it’s possible to share rooms or houses with benefits. Rents in New York City, for instance, can range from approximately $1,000 per month in select neighborhoods in the outer areas to $4,000 per month and above in richer neighborhoods. Dividing those apartments between two or three people can save thousands of dollars per year. Living at home, of course, can save a young man well over $10,000 per year even if spends some bucks on food and utilities. Money Saving Tips for Single Men

Less Personal Expenses
Think of decreasing monthly personal expenses, such as phone bills, cable bills, and Internet bills. Instead of using an unlimited phone plan, you can save considerable amounts of money – at least $100 per month depending on how often you use those services – by switching to a prepaid plan and forgoing data services. You can cancel your cable television subscription and either find new hobbies or rent DVDs of television shows, later on, saving you anywhere between $30 to $50 per month. If you live with roommates or at home, you can share a broadband Internet connection, cutting monthly bills to $20 or less. Less Personal Expenses

Food
Learn to cook and eat at home. Meals outside usually cost at least $10-12. Most prepared meals cost hardly $5, moreover, you can save even more money if you buy the raw ingredients and prepare them yourself. It’s also wise to stop wasting money at bars and other similar venues. Alcoholic drinks usually cost several times more when served at a bar or restaurant. For example, you can buy a six-pack of high-quality domestic beer for $12. And at a bar, you’ll buy a bottle for $5 to $6. So, it’s high time to think of staying home for entertainment! Food

Debt Decrease
Paying down debt as quickly as possible and paying off credit cards in full every month decreases the amount of money that you need to spend on interest payments. Debt Decrease Debts grow up quickly. Student loans in particular can eat away at your ability to save. Paying those off more quickly than required can cut down on your stress level and improve your budget flexibility.

Liam is a Derry boy (Londonderry, Northern Ireland). He began writing in 2011, starting as an intern on Men's Vanity Magazine and has contributed to more than 300 articles. He still lives in Derry and loves writing about business and wealth.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Trending

2011-2023 - Men's Vanity Magazine Note: All images that appear on the site are copyright of their respective owners. There may be links to other websites; however MensVanity takes no control or responsibility for the source. MensVanity claims no credit for images unless noted. If you own the rights to any of the images and do not wish them to appear on MensVanity, please, contact us and they will be removed immediately. Contact: liam@mensvanity.com