If you rent, and plan on staying in an area for more than a few years, consider buying. Owning a home is often more expensive than renting at first, but the costs are usually lower in the long run. Plus, a house is an investment that generally appreciates over time. Reduce Transportation Costs. Transportation is another large expense for most families.
Many households now own more than one vehicle.
The more cars you own, the higher the costs for insurance, repairs, fuel, and parking. Use public transportation, if possible. The slight inconvenience may be offset by your savings in vehicle-related expenses. Also, consider buying a used car. A good, used auto will get you where you are going as well as a new one, and will likely cost much less.