Are you spending a huge amount of your income on hidden fees?

Every single dollar counts in this tough economy. So, you better watch out for the money that goes out every month. It is quite easy to calculate the amount you’re spending for buying groceries, food, apparels, etc. However, it is equally difficult to keep an eye on the money that is going towards the hidden fees. These are the expenses that eat up your funds and you’re not even aware of them. When you calculate the figures at the end of the month, you wonder where a huge chunk of your income goes away.

There is no scope for making a mistake in the current economic situation. If you really want to have a firm grip upon your finances, then do have a look at the hidden fees where you spend a sizeable amount every month.Hidden Fees

1. Fees for staying in a hospital: The hospital will charge you a good amount for spending a couple of nights there. You can’t even imagine how fast your medical bill may increase. You may be asked to pay around $12-$15 for getting a Tylenol.

Gone are the days when hospitals mainly catered to the service for the humanity. They’re a flourishing business nowadays. The hospital will ask you pay a good amount for a brand name drug. Request your doctor to give you a generic brand medicine. This will help you reduce your expenses. Other than that, you may even carry your own medicine in order to reduce your expenses.

2. Fees for using ATMs: It is a fact that ATMs have made banking easier and convenient. You can check your balance or withdraw money from any part of the country. However, do keep it in mind that you’ll be charged a good fee for using ATMs. You may have to pay as much as $7 for fee. Make sure you know what you’re going for before using ATMs. Go through the bank statements every month. Find out if the banks are charging hidden fees for returning cancelled checks or giving statements to you.

3. Fees for using data plans: Buying a brand new cell phone nowadays is a costly affair. You’ll have to pay nearly $100 for the data plans. Moreover, you’ll need CPR for using more data than you’re allowed to. Your fee will be based upon the per MB you use.

 Talk with the sales clerk before purchasing a cell phone. Or you’ll end up paying hidden fees for unlimited texting or for any service which you basically don’t need at all.

Hidden fees can drain your funds gradually. So, always check out the contract before enrolling into a service. Find out the hidden fees you’ll have to pay. Make a decision after reading the contract carefully.

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