Although pesky fees are everywhere, there are charges that you can avoid. Like most people, you’re probably interested in ways to save money. This frees up cash in your budget; and if you’re cash strapped, this extra money can help cover your living expenses. Fortunately, there are ways to get around pesky fees. Here is a list of seven charges that you can avoid.
1. Late Fees
Late fees are included among charges that you can avoid. The obvious, of course, is paying bills on or before the due date. But if you don't have money to pay your bills by the due date, contact your utility or credit card company to set up a payment arrangement. If you give advanced notice, the company may extend your due date and waive the late fee.
2. Bank Account Fees
Between overdraft fees and account fees, a bank account can drain you. However, there are ways to get around these pesky fees. For starters, compare accounts among different banks and credit unions. Look for banks that do not charge a fee for overdraft protection. Additionally, you can often avoid monthly service fees by maintaining a daily average minimum in your checking or savings account.
3. Airline Fees
Traveling is already expensive and the last thing you need to worry about is additional baggage fees. Some airlines charge $25-$35 per every checked bag, yet other airlines allow you to check your first and second bag free. Make sure you fully understand all baggage fees before booking your flight. Additionally, monitor the weight of your checked luggage. If any of your bags weigh more than 50 pounds, the airline may charge an additional fee.
4. Mortgage Origination Fee
If you’re refinancing your mortgage loan, be ready to pay closing costs. This fee is typically 2% to 5% of the loan balance. However, if you refinance with your existing lender, you might be able to reduce your closing costs by asking the lender to waive or lower the mortgage origination fee. This fee is approximately 1% of the loan balance.
5. Movie Theater Fees
It's quick and convenient to purchase your movie tickets online. Unfortunately, many movie theaters charge a per ticket convenience fee, which can be as high as $1.50. Also, there are additional fees for 3D and IMAX movies. This doesn't break the bank if you're buying a single ticket. But if you’re taking your family to the movies, extra fees can add up quickly.
6. Foreign Transaction Fees
If you're fortunate enough to travel abroad, you may prefer to use a credit card and skip currency exchange. This is a smart move. However, it's important that you bring the right credit card. Many credit cards charge a foreign transaction fee, typically 3% of every purchase you make while traveling in a different country. You can avoid this fee by using a credit card that does not charge a foreign transaction fee.
7. Service Call Fees
If you're having trouble with your cable or Internet service, you might ask your provider to send a technician to your house. Unfortunately, some service providers charge a fee for this service — even if the problem is on their end. However, there is no fee to troubleshoot over the phone with tech support. Always ask about fees before scheduling an appointment with a technician.
Pesky fees can catch you off guard, but there are ways to avoid these. Learning how to save in different areas is one of the best ways to retain some of your cash.
What fees have you managed to avoid?