Who likes to pay more money than they have to? Not many people, which is why you should do all you can to avoid paying unnecessary fees, whether that’s from your bank, credit card, mortgage company or electricity provider. Check out these tips to avoiding shelling out big bucks on extra fees.
Bank Fees
There are many ways to avoid bank fees, which can start small and really add up quickly. Stay current on your checking account to keep overdraft charges at bay. Bounced checks often carry a double whammy: the fee you pay to the bank and the fee you pay the merchant. These fees can be a minimum of $25 each, so you’re out at least $50 when you do this. Take out cash from your own bank’s ATM when possible to avoid paying upwards of $3 just to withdraw your own hard-earned money.
Credit Card Fees
Never take out a cash advance from your credit card if you can help it. The interest rates on these transactions are outrageous, many times double or even triple that of your regular interest rate. Set up payments on all your credit cards so you are never late. Those late fees can be upwards of $25, not to mention they ding your credit score in the long run if you make a habit of it. Bankrate says issuers are allowed to charge you $25 for a one-time late fee, then increase that amount to $35 if you make a late payment again within the next six months. Sign up for paperless statements to avoid the small fee that may be applied to paper statements, which is usually only about $1 but can still add up.
Prepaid Electricity
Electric bills can be a huge source of worry for many homeowners. In addition to paying the bill, you also have to remember to pay it on time or risk your power being shut off. One way to avoid this is to prepay it. With no deposit required and easy set-up, you can avoid fees with Smart PrePaid Electric, for example. This is a different approach to paying for electricity, unlike many electric companies that want you pay a large deposit before they switch on the power. Other providers, like Smart Prepaid Electric, require no deposit, no credit checks and no need to sign contracts. You can pay as you go, providing only your name, address, cell number, and email address.
Check Bills for Mistakes
Be diligent about poring over your bills every month. Especially when it comes to your phone bill, you could be paying extra for calls you didn’t make, or long-distance calls that should have been local. Dispute every charge. Show that you care and are willing to learn about how your bill works. Unfortunately, it may take several phone calls to get something corrected, but it’s worth it in the long run. Avoiding unnecessary fees is sometimes as easy as being super-diligent about how you handle your bills. Don’t let something like a late payment get in your way of financial peace of mind. Because at the end of the day, you get more money in your pocket to spend on more important things.
This article was contributed on behalf of Smart Prepaid Electric, a company that lowers your bill. Check out their website today and see how they can help you!
