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(NewsNation) — NewsNation host Ashleigh Banfield assembled an all-star team of financial experts Wednesday to share their tips for spending less and saving more, starting right now.

“It’s interesting to see how many leaks you might have in your finances when you do that audit. And one of the areas that a lot of people don’t realize that may be charged on them is their direct deposits. Or their checking accounts,” America’s “Money Smart Guy” Matt Sapaula said during an appearance on “Banfield,” as well.

Sapaula says to go to your bank and double check that you aren’t paying any fees on your bank accounts.

Sapaula also says to consider using your credit cards more.

“I implore you, if you have the habit of paying off your credit cards every 30 days, use a cash back reward-type credit card,” Sapaula said.

Some credit cards will pay anywhere from 1% to 5% of all your expenses back in cash.

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The Federal Reserve is raising interest rates by 0.5% in an effort to slow down a superheated economy.

This means consumers could see higher borrowing rates on home loans, auto loans and credit cards.

Personal finance expert and “The Fine Print” podcast host George Kamel said that now is not a great time to get a mortgage loan.

“Debt is a thief. It’s stealing from your future by demanding that you pay for the past. So I want you to get those payments out of your life. So you can have the money back in your wallet, back in your budget. That’s what’s going to give you that margin to beat inflation and not be so freaked out when you hit the pump,” Kamel said.

If you don’t have the money to pay off your loans, Kamel says, it’s better to start paying attention to where every dollar is going and to start budgeting.

Kamel suggests using “EveryDollar,” which is a free budget planning app.

“Cutting out some subscriptions. Maybe we’re going generic brand, going to a different grocery store. Maybe we pick up a part time job and do some freelance work to bring in some extra money on top of shaving some expenses,” Kamel added.

Banfield senior story editor Paula Froelich showed us how she saved $97.91 per month by discontinuing subscriptions she didn’t know she signed up for.

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How inflation is impacting prices at the grocery store

“Do a financial checkup once a month; where are you spending your money?” Investopedia’s Caleb Silver said.

“Maybe it’s buying in bulk. Maybe buying in bulk coffee, ahead of the week, setting yourself up and taking the thermos for a couple of weeks. That’ll save you some cash. But also when you shop, think about what you’re shopping for and what part of the supermarket you’re shopping for,” Silver said.

Typically, the middle aisles in a grocery store are where impulse buys take place. So avoiding those and buying in bulk can save you money in the long run.

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