The A’s that Keep You Broke & How to Beat Them
Hello again my readers! I would like to introduce you to a new monthly post that I want to share with you. I would like to call it “The ABC’s that Keep You Broke and How to Beat Them.” Every month I’ll share five little things that can cause you lose to money and some possible solutions that can be implemented to avoid them.
I must tell you now that my disclaimer on this little series will have both educational benefit and comedic relief. Some of the items I choose will honestly be all in good fun.
Hope you enjoy!
Added fees – Be careful of these little babies. I hear they pack a punch that isn’t expected. Credit cards like to up-sell and add these fees through a ruse of your protection. Payment protection, identity theft protection services, etc… Credit cards love to make you think that they are only thinking of you. Credit card companies are not the only culprit however. Your local bank could be trying to hide some extra fees that even you haven’t noticed. Remember that little Bank of America fee that caused their customers to run in mass exodus? Yeah.. watch out for those. Shop around for a bank you can trust. Credit unions can also be more beneficial and transparent as well.
Alcohol – Don’t drink and drive! Better yet, don’t drink at all! Ha… while that might actually make you a little richer in the pocket, an easier way to save is to buy your alcohol from the liquor stores or even grocery stores. These type of stores are able to purchase a great amount of alcohol in bulk and thus get a lower price for it…which then passes as a cheaper price to you. Stay away from the bars and restaurants. Although you might like having a drink when you go out to socialize or eat, you really are paying for the convenience. A bottled beer or wine cooler could cost you approximately $1 or so a bottle from a six pack whereas while you’re eating out it could be double, triple, even quadruple the amount of buying the bulk and taking it home.
Apple Products – Buy Samsung. Well honestly, I’m a huge fan of the iPod, I don’t find that I need a new one every time they come out with a new generation. Just for this purpose alone I refuse to buy the iPhone and any of its incarnations. Plus, I like to look around for alternatives. I don’t always need a new phone or electronic device. Yes, they are certainly pretty, but do I need it? Certainly not.
Application fees – For all you college kids out there, or perhaps you have someone nearing the college age, take note. Those college applications do not come free. Colleges and universities make thousands of dollars a year just through application fees. A local college’s application fee could range from $30 to $50 a piece. If you’re trying to get into some of those more expensive Ivy League colleges and universities… well, be ready to cough up a pretty penny. However, colleges and universities do offer to waive these fees. In Indiana, my home state, if you end up achieving as a 21st century scholar, your public university application fees are waived for example.
ATM fees – This is something that you definitely want to make sure that you’re keeping a close watch. Banks have additional atm fees now. Perhaps you didn’t use your card enough times in a month as a debit card or as credit… so that’s a fee. If you go to another bank’s ATM, that’s a fee. If you draw too many times in a month, that’s a fee.
Overall, be careful and read the fine print.
Count those raindrops!