Looking for ways to save money? Look everywhere! Because there are sneaky fees hidden in many products and services. You might say “It’s only a dollar or two.” But those dollars add up quickly. By the end of the year, you could be saving hundreds or even thousands of dollars!
Get it for free, or at least get it for less. . .that’s the goal of this post. Most of the time you can avoid being nickeled and dimed. Our friends at BillShrink.com -- a free cost-savings site – offer up the following tips:
1. 'Free' checking fee. Banks are starting to attach more strings to their free checking accounts. Unless you go with no-fee, credit union checking from Signal Financial – no kidding! Click here for information.
2. Balance-transfer fee. Some credit card companies now charge up to 5% for balance transfers. At Signal Financial, all balance transfers to your VISA Classic or Platinum cards are FREE*. Click here for information.
3. Retailer credit card fees. Are you tempted by your favorite department store offers: "Do you want to save 10% on your purchase today by opening a card account with us?" The discount is tempting, but remember that these cards often come with higher interest rates than traditional credit cards. If you don't pay your bill in full, that discount you got will quickly be wiped out by the high rate you'll be paying on your balance.
4. Credit card late fees. Avoid late fees by signing up for payment alerts from your credit card company. You'll receive an email or text message several days before your bill is due. Or, set up an automatic minimum payment to cover you in case you forget. (You can do both of these with a Signal Financial VISA Card!)
5. Reward card annual fees. An increasing number of rewards cards charge annual fees. However, there are cards with great perks and no fees.
6. Directory assistance fees. Calling 411 is so yesterday. Plus, it can cost $1.25 or more. You can get free directory assistance by calling 1-800-BING-411 or 1-800-FREE-411.
7. Baggage fees. Unless you fly on Southwest or JetBlue, you'll probably pay a fee to check a bag. If you're flying with any of the other airlines and have to check a few bags, you might find it cheaper to send your luggage to your destination by FedEx, UPS or U.S. Postal Service ground shipping. (Or, you could pack less, too. A little reality-based planning could save you money: “Do I really need 8 pairs of shoes for a 4-day weekend?)
8. Airline booking fees. Don't even think about picking up the phone to book a flight -- unless you don't mind spending $15 or more for the privilege of talking to a booking agent. Book your flights online to avoid this fee.
9. Cellphone early termination fees. You can face a termination fee of $200 or more if you cancel your service before your contract is up. You can avoid these fees by signing up for prepaid service (and save money because these plans usually are cheaper).
10. Roaming fees. Cellphone roaming and international rates can be as much as $2.49 per minute. If you send a video while roaming, you could be charged up to $7. Wow! Remember that many cell carriers offer a Friends and Family network whereby you plug in your most frequent numbers and you won’t be charged roaming fees. This is a great benefit!
So, make some changes, evaluate your plans and start saving money today!
* For Credit Card option only: The rate is good for the life of the transfer. If your account is closed during the promotion, the remaining balance will revert back to the regular rate of the card (Visa Classic: Wall Street Journal Prime Rate + 8.51%=11.76% APR; Visa Platinum: Wall Street Journal Prime Rate + 6.50%=9.75% APR). If you are paying more than the minimum payment and you want the excess payment to be applied to your promotional balance, you must send this extra payment to: Signal Financial VISA Department, 3015 University Blvd., West, Kensington, MD 20895. Other restrictions may apply. Rates effective as of 01/2/14. Business cards are excluded from offer. Rates subject to change without notice. Transfer must be from outside source. APR = Annual Percentage Rate. Once you have committed to a rate, you may not change it. The Wall Street Journal Prime Rate is 3.25% as of 9/15/14.
