If you want to see a little extra money in your pocket at the end of the month, be aware of the things you are spending your money on. You could be losing money without even knowing it. Here are a few things you might be guilty of doing and losing money while you are at it.
Convenience Fees
If you have paid your bills online or by phone, you have probably faced a convenience fee along with that payment. A lot of companies will charge you a convenience fee for making an electronic payment because this is a way they recoup the fees that the bank is charging them. Instead, try and find a different way of paying your bills. For instance, with a check or through your banks bill payment services. Along with convenience fees are late fees, which can run you through the ground. If you miss a credit card payment, or forget that you had a red box you will be charged a fee that isn’t quite necessary. That is just wasted money. Try to pay bills through your bank online, set up autopay, or set reminders!
ATM Fees
These are the worst fees. Why do we want to be charged extra money to take our own money out of our banks? You are charged both by the bank that owns the ATM and usually for a withdrawal by your bank as well. A single atm withdrawal could cost you an extra $4-$6 just to access your own money. In order to avoid this, try to only withdrawal cash from your own banks atm and take out enough to avoid going to the atm multiple times a week.
Unused Subscriptions
Subscriptions that go unused are the biggest waste of money you can possibly have. For instance a gym membership or tanning membership that you hardly use is not worth the money you are wasting. Either use it wisely or don’t invest in it at all, or do a downgrade to a lower payment plan if it is available. These may seem like very minimal wastes of money but if you are struggling to get by and you could save $20 at the end of the month, you will thank yourself. Every little bit helps!
