Here’s a few common money leaks, and how to plug them.
This post originally appeared onLearnVest.
And before you know it, a good chunk of money has gone down the drain.
Some of the leaks are easy to pinpoint: Is your electric bill higher than last year’s?
Dial down your thermostat a few degrees.
Credit card interest go up a few percentage points?
It’s time to call your credit card issuer to request a lower APR.
They can strike when you’re at the register, getting tempted by a half-off impulse buy.
That’s over $40 more than the average cable bill of$112a month.
So Reiter suggests taking five minutes to measure your digital service usage each month.
“If not, it’s probably time to cancel.”
You name it, and there’s a way to get a better deal.
But the perceivedvalue of an unlimited membershipis often different from reality.
“But the truth is that an entire year could pass without using your membership, costing you hundreds.
So determine if it is the right thing for youright now.”
So why not take advantage of a “no commitment necessary” offer?
Plugging It:Judith A. McGee, a CFP and C.E.O.
Another “buyer beware” signal?
The company makes it near impossible to get rid of the service.
“Using social media can pressure a company to respond to you quickly,” Kumok adds.
“Many people often press purchase before thinking it through.”
“Recently, retailers have increased their free shipping offers to boost online sales,” Woroch says.
When that happens, Woroch likes to look for free shipping codes at sites likeCouponSherpa.comandFreeShipping.org.
“They may even be willing to waive the shipping fee,” she says.
Eschew the shipping altogether and arrange for convenient and free in-store pickup.
Bonus: You may even get your items faster this way, since many offer same-day delivery.
Information shown is for illustrative purposes only and is not intended as investment, legal or tax planning advice.
Image adapted fromjesadaphornandHanaya chen(Shutterstock).
Additional photos byPaul Keller,Daniel Hoherd,Mike Mozart,Daniel Oines, andDerell Licht(Flickr).
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