As if we do not have enough everyday expenses that add up to huge monthly costs that eat up our paychecks and hold us back from building up that retirement savings. Sure, it is our own fault it we splurge on spending and not focusing on sticking to a budget, but some are just unavoidable that are not displayed in the beginning, but give a huge shock when the final total is added up, so keep your eyes peeled at some of the common hidden fees.
Event Ticket Purchases
Take it from someone who attends a lot of concert and sporting events, that most of the ticket charges are extra fees. Whether it is from the venue’s site, Ticketmaster, or third-party sites such as StubHub, it is nothing but fees, charging upwards of 30% of what the face value of the ticket is, by the time you add in service fees, delivery costs, and even added-in parking costs. Do yourself a favor and try and buy all tickets in-person, directly at the venue’s box office to avoid any extra fees. This way you are able to attend more events, and it is comforting seeing the ticket say $25, and it is not actually $40 by the time you add in all of the extra charges.
Extra Hotel Charges
Speaking of extra charges, when it comes to booking a hotel room, the actual room rate is not bad, but by the time you add in the taxes, it really boosts the price up. If you are looking at rooms in Las Vegas, for example, keep in mind the extra “resort fee” which can be upwards of $30 per day added to the daily room rate. Since all of the sites have their own fees, try and get the best final rate between the hotel’s website and all of the various travel sites.
Inflated Cable Bill
You see the ad for cable where you get it for $20, but add in a decent cable package, HR, DVR, not to mention internet and you quickly build up a hefty monthly fee. Wait until the promotion period is over and you will really see your bill skyrocket, reaching $200 a month, and you will start dialing customer service right away to lock you into a better deal, just make sure you continue to escalate the call to someone that will give you the best deal, even if it is sending an email to the CEO’s office to help. Most locked in periods are for two years, so savings over 24 months can really add up.
This is the reason that I switched to a credit union. There are no monthly “maintenance fees”, or minimum balance requirements that can see $10-20 a month in unnecessary charges to your account that can otherwise be avoided going elsewhere.
When you book a flight, do not ignore the extra $30 each way to add in baggage, not to mention if you want to select your seat beforehand. A $200 deal you think you can be getting on a flight quickly turns into $300 after taxes and baggage.