MONEY "LEAKS" that can be avoided.
Unused memberships and subscriptions
A gym membership is a common example of an automatic payment that gets forgotten and is rarely used. But other things can crop up too.
An annual renewal for a magazine you no longer read, a razor subscription and a monthly subscription to a premier cable TV channel that you rarely view.
Bank fees
The average overdraft fee at a bank is $30, up 50 percent from $20 in 2000, according to research by Moebs Services. Fees at credit unions are also high, with the average overdraft fee almost doubling during that same period to $29.
Banks used to automatically enroll customers with overdraft protection — which covers a transaction through a debit card or check if the account doesn’t have enough money.
The Overdraft Protection Law of 2013 changed that, requiring banks to ask customers if they want to opt in for the coverage. The Consumer Financial Protection Bureau found in 2014 that opted-in customers paid seven times more in overdraft and nonsufficient-funds fees than those who hadn’t opted in.
Price creep
If you’ve ever bought a low, introductory offer on cable TV or internet service, or signed up for a new credit card, chances are you’ve been the victim of price creep.
Wasted food
Meal planning is key. We all toss money in the trash can too often.