You might think you’re getting the most for your money, but are you really? There are a ton of ways that we could be losing money and not even realize it! It’s not uncommon to find extra “charges” added to some of your monthly bills or online orders. It seems like there’s a fee for everything anymore! But if you’re aware of where they could pop up, you’ll be better prepared to dodge them. I wanted to share a few of the most common ways we might get tricked into spending more than we really want or need to. Have any of these ever sucked you in before? Check them out below…
1. Shipping Fees. This is a sneaky little trick that gets me almost every time. Many retailers have started offering “free shipping” if you spend a certain amount first, typically upwards of $50 or so. Many people can be tempted to add more items to their carts to reach that point, because it almost feels less wasteful to spend more for goods as opposed to extra charges. Instead, avoid ordering online unless you need to, and opt for in-store pick-up instead of delivery, which is usually free.
2. Free trial offers. Be wary of the word “free,” because there’s almost always a catch. If you need to enter your credit card number in order to receive whatever it is you’re trying out, you’ll almost definitely be charged when your trial period is up, and they’ll get at least one paid month out of you. Try to avoid this mess altogether!
3. Unnecessary subscriptions. I’m definitely guilty of this one. You can get almost anything via subscription now, from music services to groceries. It’s a perceived “convenience factor” that pulls most people in. What many people see up front though it the monthly cost. While it might not seem like much at the time, it piles up throughout the course of a year. Look at your total spending for the year, and decide if that cost is really worth the service you’re paying for, especially if it’s something you don’t use frequently enough.You’d be better off paying on an as-needed basis.
4. Getting a “deal.” This is one where you can either get a really great bargain, or really waste your money. I’ve been on both sides of the bridge here. I’ve used sites like Groupon and LivingSocial to find great prices for hotels and restaurants, but I’ve also been burned by purchasing daily deals with an expiration date or fine print attached. Be sure to check for restrictions and limitations before you buy. If you’re not going to be able to use it within the time specified and according to their specifications, you’re essentially tossing your money away.
5. Your cable bill. This is typically a pretty common budget line to ditch when trimming down your monthly fees, but some of us can’t bear to part ways. If you must keep your services, be sure you’re only paying for what you’re using. If you’re not watching all 200 channels included in your package, and you don’t use your DVR service, why waste your money? Be sure to also monitor your “monthly service charges and fees,” because they tend to sneakily creep up over time, even if it’s just by a dollar or two.
