You shouldn't have to pay any more bank fees than you have to! At least that is our view! This blog post gives you four tips to help reduce your bank fees. Enjoy.
Tip 1: Sign up for banking alerts: Many banks provide SMS alerts before bills and payments are to be made. Sign up for this service. This way you will be less likely to forget about bills and pay late payment fees. It will also warn you when your Gucci shopping wife is on the rampage. Get that bottle of vodka ready!
Tip 2: Take advantage of FSA: Flexible spending accounts let you set aside money on a pre-tax basis for medical expenses. Generally they are offered by employers under health benefits. It can definitely be worth it.
Tip 3: Avoid loan products with early payout fees: If you have to get a loan, avoid one that has an early pay out fee. These fees can be quite substantial and punish you for paying off a loan early.
Tip 4: Keep an eye on bank deals: Banks often keep their best deals for new customers. Every 12 months keep an eye out for a Bank that may have a better deal. If you bring five or six accounts over, you may be rewarded even more.
So there you have it, four ways to reduce your bank fees. If you want to learn how to save $1000s a year then check out our Money Saving Tips E-book. It is jam packed full of tips that you can incorporate into your life straight away to save money!
Cheers
Rusty O'Connor
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