Fix My Finances

As consumers we have to be on alert at all times for hidden fees that cost us lots of money over time. Many people do not notice or question strange fees on bills and so companies will simply get away with more of our money than they are entitled to.

Grocery stores are notorious for hiking up the price of an item, and then offering it to customers at a “discount”. This is called padding. This makes customers think something is on sale, when really it isn’t. That is why it is important to watch pricing trends on items, comparison shop, check competitors ads in the papers, and cut coupons.

Land line phone bills always seem to have vague charges added for things that you have no idea of what they are. It is important to check bills for charges for services that you do not have nor have asked for, such as three way calling and inside wire maintenance. If you find any charges you do not understand, call and ask for an explanation right away.

Read the terms of your 401(k) plans very carefully. This is another item that is often full of hidden and obscure fees.

Cable TV is also another place to watch your bill very carefully. Often the package and deals you signed up for are not necessarily the ones you are paying for on your bill.

Stay alert, read everything, ask questions, and complain if you are being charged fees that are not explained fully and to your satisfaction.

Irene Bellamy wrote this on April 19th, 2008 and filed it under Fix My Finances |