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Learn where you’re wasting money, what’s really causing problems with saving money and 6 ways to have more money at the end of the month.

This is listener question Friday. Here is our question for today:

Linda, I make a good income but at the end of every month I don’t have any money and I can’t seem to save money. What can I do? Thank you, Chris

Well Chris, this is a common problem. Many Americans make a good income yet have nothing to show for it.

An article says the poorest Americans percentage-wise spent almost as much on restaurants as the richest.

16.6% of their money is spent on eating out. Only the top 20% spend a higher percentage than that at 17.8%.

My friends in NYC made a high income and couldn’t afford to buy a home.

The most common problem is eating out too much according to this article.

As Elizabeth Warren and her daughter, Amelia Tyagi, revealed in their book The Two-Income Trap, the problem wasn’t lattes and other frivolities. In fact, the cost of everything was significantly lower than it was in the 1970s.

Warren and Tyagi demonstrated that the problem was the fixed costs, like housing, health care, and education cost the average family 75 percent of their discretionary income in the 2000s. The comparable figure in 1973 was only 50%.

According to the article, people also spent more percentage-wise on gas and groceries.

It comes down to making smarter choices. Planning instead of being too spontaneous.

Here are 6 suggestions to help you save money:

1. Plan your meals and eat fresh food. Learn simple, quick recipes. Stay away from processed food and fast food.
2. Plan your trips and use public transportation when possible. (airport $5)
3. Pay yourself first. Put 10% of your paycheck aside first.
4. You can use apps to help you (like acorns and digit) to help you save.
5. Open a brokerage account and start investing asap.
6. Move closer to your job so you can walk or ride a bike.

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