Your everyday money habits could be costing you — but it’s never too late to make a change. Making small tweaks to your lifestyle and spending habits could pay off in a big way.
1. Ignoring Refurbished Goods
It’s easy to dismiss refurbished electronics as rejects or factory failures. The truth is, many items are returned for trivial reasons, like being the wrong color. Even then, manufacturers subject these returned projects to rigorous tests. And the difference in price between refurbished and new usually starts at 10 percent, and can be as much as 50 percent.
2. Closing the Box on ‘Open Box’ Savings
A great way to save money when shopping online marketplaces such as eBay is to see if a vendor has cheaper, brand-new “open box” products, which are returned items that have been inspected and put back on shelves by retailers.
3. Paying Full Price For Anything
With bargain sites such as Groupon, it’s a wonder why people shop at stores and pay the manufacturer’s suggested retail price on anything — it’s probably one of the biggest ways you’re wasting money. Take advantage of the coupon and deal sites to keep more money in your wallet year-round.
4. Paying Checking Account Fees
What’s your bank’s policy on checking account fees? Some banks waive monthly fees for new customers during a promotional period, but will then charge as much as $10 or $12 per month if you don’t meet certain balance requirements.
Be aware of these terms and conditions so you can maintain a balance that won’t incur fees. If you can’t meet requirements, talk to a banker about switching over to a free checking account — or switch to a better bank.
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