This article by Jason O’Grady has some reasonable recommendations.
O’Grady is a legit writer, and his tips here are not specifically wrong. But I personally have less worry about this stuff, mostly because I think anyone who actually wants to track my location that bad can follow my car around.
Also, there are so many other things that companies know about us. Every time we charge our credit card, we reveal our location.
I don’t know how someone would cause me harm just from having the information. But I do know that I benefit from my phone being able to use my location to give me more relevant data and get me through my day.
So, while one can certainly switch these switches, and feel a little more private, I think it’s important to take privacy concerns in context, and recognize where each of us are, and are not, truly vulnerable.