Keeping on top of financial budgeting can be difficult, whether you’re single or supporting a family. Following these simple tips on things you should never pay for will help ensure more hard-earned cash is targeted to things you need:
- Extended Warranties
When you spend your dollars on more expensive products you’re likely to be offered extended warranties. Don’t immediately accept any warranty offer. When you take time to check the details, you’ll likely discover the warranty costs exceed the cost of replacing your item with a new model. If you do feel an extended warranty is necessary, check to see if your credit card offers a free extended warranty first.
- Credit Card Interest and Fees
A credit card with benefits can be a great tool if managed properly. Pay your credit card statement in full at the end of the month and you’ll prevent high fees and interest charges. Of course, it can be difficult to discipline yourself to act this way, once you get into the habit of using your credit card wisely, your financial management and budgeting skills will help ensure you always have cash on hand for larger purchases.
- Rental Car Insurances
If you use car rentals regularly, check out whether your auto insurance covers you for rental insurance extras, like accident or injury. If not, it’s possible your credit card provides coverage for vehicle rentals, many of the major credit cards give great perks to cardholders. You just need to pay for car rentals using your credit card and coverage could be automatic.
- ATM Fees
Paying fees at ATM soon racks up hefty charges. There are so many free ATM services available from the major banks it’s a total waste of your cash to opt to use an ATM which charges fees for cash dispensing.
There are heaps more things you should never pay for in life. Once you get into the habit of keeping a watchful eye on your expenditures, you will discover more ways to cut costs and be able to invest savings in more profitable ways. Money saved on cutting out wasteful expenditure helps you keep your finances balanced and makes sure you have cash on hand to buy what you really need in life.