In recent years, the number of fees companies charge for everyday activities has increased significantly as businesses try to find ways to raise more revenue without raising their prices.
This has resulted in many of us paying much more than we should be in additional fees for the same service we were getting before. Fortunately, many of these fees are avoidable by those who are paying attention and changing their habits so that you are not paying them, saving you $1,000 or more annually.
Out of Network ATM Fees
Many people choose to withdraw their money from whatever ATM is the most convenient at the time and end up paying hundreds of dollars each year in out-of-network ATM fees.
These fees can range from $3 to $5 per occurrence, adding up to $312 to $520 each year for twice-weekly withdrawals that you are paying to take your own money out of your own bank account. To avoid these fees, plan your ATM visits carefully to ensure that you are always using an ATM within your network.
Checking Account Fees
Some banks now charge customers with checking accounts a fee of $5 per month or more for having an account with that particular bank. At $5 per month, the average consumer pays $60 per year to have a checking account.
Fortunately, the checking account fees are often waived for customers who perform certain actions, such as having a direct deposit of more than $500 sent to the account each month or making more than 5 debit card transactions. Read the terms and conditions for your account or contact a representative at your bank to find out what you must do to avoid being charged a checking account fee.
Insufficient Funds Fee
There is never any reason to exceed your bank account balance, incurring an insufficient funds fee. These fees are very expensive, often between $28 and $35 per occurrence, depending on which bank holds your account, and can quickly accumulate into hundreds of dollars in fees for purchase amounts as small as $5.
Although there have been some efforts made to rein in the practice of charging unwary consumers multiple insufficient fund fees for small transactions, the only way to be sure that you will not be paying this fee is to balance your bank account on a regular basis and always be aware of the amount available in the account.
20 Frugal Tips From the “Grandparents Generation” That Still Apply Today
Many of today’s grandparents had parents or grandparents who lived through the Great Depression. They adopted many of the frugal living tips they learned and passed them on to their own children.
Grandkids sometimes think that they know everything and that their grandparents are out of touch with today’s world and reality. And while there might be a kernel of truth to that, grandparents still have a wealth of knowledge that can really help. They may need to be tweaked to fit the current world but they are still valuable.
20 Frugal Tips From the “Grandparents Generation” That Still Apply Today
13 Signs You’re Financially Better Off Than the Average American
Achieving financial stability where you can meet your current financial obligations comfortably and still plan for the future is a goal everyone strives to attain.
However, while you may be able to pay your bills, save for vacations, and afford to dine out occasionally, you may feel left behind, especially if you compare yourself with your peers or others with higher salaries. You may be doing way better financially than the average American.
13 Signs You’re Financially Better Off than the Average American
14 Companies That Will Give You Free Food and Products Just for Asking
More companies are now offering free samples to get customers to try a new product. Over time, these companies gain loyal customers and can increase their sales. As a customer, you also get to test out free products and sample foods you’ve never tasted.
Read on as we explore some companies that will give you food and products for free just by asking.
14 Companies That Will Give You Free Food and Products Just for Asking
14 Powerful Frugal Living Tips for Middle-Class Americans
Inflation is high. This means that we don’t all need to understand, but we do understand that prices are high on basically everything. Everything costs more, and things are tough. Basic necessities like housing and healthcare are becoming increasingly unaffordable for most people.
As middle-class Americans adjust to the new reality, here are some powerful frugal living tips that can make our lives easier and better.
14 Powerful Frugal Living Tips for Middle-Class Americans