So many of us shell out hundreds of dollars a year on avoidable fees; anything from $3.50 a month for paper billing to “fitness center” fees at hotels. But you say, “If these fees are avoidable, why are the masses still paying for them? If no one was paying for them, they’d effectively become worthless to the companies that have them and they’d effentually be gone.” Well my friend, the masses are lazy and uneducated about where they’re getting taken. Yes, the fees are easily avoidable, but doing so requires a little research and reading of the fine print. The average person simply won’t do it. Luckily, bellinghamherald.com has outlined a list of 20 avoidable fees. Here are a few that stuck out to me:
HOUSEHOLD BILLS
From small home security firms and heating oil delivery services to major telecom providers, a growing number of companies are charging “manual billing” fees for sending paper bills and statements, sometimes up to $3.50 a month. Sign up for e-mail billing or check your statements online instead, and save up to $42 a year.
PHONE BILLS
Cell phone companies will charge up to $200 in “termination fees” if you cancel a contract early. Some prorate the fee to reflect the time left on the contract, but check your end date before switching services…
TRAVEL
Mid-range and discount hotels often offer free Internet service, but higher-end locations tend to charge, sometimes as much as $19.95 per day. If your hotel won’t waive the fee, check out WiFiFreeSpot.com or JiWire.com to find free service nearby.
BANKING & INVESTING
The fees for using another bank’s ATM have crept higher, and it’s not uncommon to see $3 to $4 charges. Using another bank’s machine may also trigger a fee from your bank. Search for your own bank when you need cash, or try getting cash back when making debit-card purchases. Even if your bank also charges a fee for debit-card purchases, that may be a less costly option than using an ATM.
CREDIT CARDS
Pay your bill late and expect to get socked with a fee of $30 or even $45. If you’re prone to forgetting the due date, set up an automatic payment through your bank account.
Rather than decline a purchase, credit card issuers now are just as likely to allow you to go over your limit and charge you a fee, typically about $35, says Adam Levin, chairman and founder of Credit.com. You’ll get charged even if you’re just a few cents over your limit, and even if it’s something like a late payment fee that puts you there.
I highly recommend reading the full list of 20 avoidable fees.
The killer of this whole thing is, not only are you getting hammered for hundreds a year, in the end it’s costing you much more because the money you could be saving would be used to either pay off debt and/or invest in mutual funds. With the latter, those hundreds could become thousands.
Posted by Marshall 
