Bank FeesThere are some people who are afraid of change. They are afraid of shopping for a new bank. This fear allows them to stay on the same outdated accounts they have always had. There is nothing wrong with bank loyalty, but it should go both ways.
Go to your bank and ask if they have better options. Different accounts may have lower costs and pay higher interests. Don’t be afraid to compare other banks with yours. It is your money. Make the most of it.
Do not use ATMs that charge you fees. If your bank logo is on the machine it is a zero fee ATM. But if not, you will pay over $4.00 for the honor of retrieving your own money. While shopping banks, ask if they will credit your ATM fees back to you. If not, keep looking or simply do not use other ATMs. This can save you up to $400 per year.
If you do not have an ATM near you that is from your bank, you may need to change banks.
Late FeesPaying your bills late is more than just the matter of a few extra dollars. When you pay your bills late, your credit score is affected. This hampers your ability to buy a home, a car, and other large purchases. It also causes you to pay more interest on your credit cards.
Set up automatic payments for all of your bills that offer the service. Most do. If you have one that doesn’t set up your phone or computer to alert you when your payment is due.
Underused subscriptionsCompanies love it when you sign up for free trials for online programs, subscriptions, memberships, and auto-shipments. You have every intention to cancel, but millions of people do this and forget to cancel in time. Even if they go back and cancel later, you have wasted at least one auto-payment before you do.
Look over your credit card and bank statements carefully. Find out what you are paying for and eliminate what you do not use. Be honest with yourself. If you have not used the gym in 6-months, why are you paying for it?
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Bottled waterFilter your own water and invest in a couple of good water bottles to keep it fresh and cold. You will save the money of buying all those bottles of water and no plastic will end up in landfills. Everybody wins.
Extra smartphone data
This is the days of data wars. Shop the cell companies and make sure you are getting what you pay for and only paying for what you need.
Use Wifi whenever you possibly can. When you're connected to Wifi, you're not using any of your data allowances. Do this when you are anywhere away from home or visiting friends and neighbors.
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Grocery store wastesAmericans are big into bulk buying. We think we are saving hundreds by buying large amounts of foods from Grocery Chain Clubs. We pay for the membership and then we buy way more than we can use.
Instead makes lists and only buy what is on the list. If you are going to buy in bulk, do not buy more than you will use in a month. At the end of the month, if you still have it, do not re-shop until you have used it.
GenericIn early days buying generic got a bad name. But today, there is a quality generic for just about everything you need. You may have a few exception. You may only enjoy one brand of peanut butter or you have a favorite brand of ice cream. That is fine. But on the other things, buy generic and you will save a bundle.
Recently some of the big name stores introduced ordering your groceries online. You can pick it up for free or they will deliver in some areas. This caught on really fast.
But when you look at these stores today, you will see that they are now offering a discount for you to come inside their stores to buy your groceries. Why would they do that after spending the money to create the pick-up service? Because people began spending less money.
When you are in the store you mindlessly grab items that you were not expecting to buy but seem too good to pass up. These are impulse buys. Pick-up customers do not face the candy and gadgets at the checkout. They do not smell the freshly baked donuts or see the “as seen on tv” items.
Control your impulse buys and you will see a significant difference in your grocery expense.
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