Developing a money saving habit requires commitment and discipline. It’s just not enough to state that you wish to start saving if you don’t have the will or the resolve to push through with it. You have to follow a clearly set out plan and deny yourself a number of luxuries before you can accomplish your saving objectives. While there are many money saving tips out there that you can easily access or have an idea of what they entail, we are going to shed light on some relatively unknown money saving tips that could actually be the spring board to financial security.
Regularly check and scrutinize banking fees associated with your account
Do not be blinded as to take as gospel truth whatever fees are charged on your bank account. Banks are generally in business for the purposes of serving the needs as well as exceeding the expectations of their customers. However, do not be blinded by this as to give the idea of bank fees a wide berth. Remember that banks are a business entity and always seeking for means in which they can make money and increasing their profits.
In this regard, it’s essential that you scrutinize bank fees and ensure that whatever fees are charged are in tandem with the fine print or terms and conditions you read while opening the account. Considering the fact that most banks make a ton of money from bank overdraft fees, it’s essential that you regularly scrutinize your bank fees and ensure that whatever you are charged doesn’t go beyond the threshold. It can save you a great deal of money.
Dispute any unfounded charges
In the event that you notice unexplainable and unfounded charges, do not hesitate to raise it up. Such charges if left unchecked could eat into your money and seriously affect your saving efforts. Though there is bureaucracy and you might meet several bottlenecks in your attempt to get answers, do not despair as you can always use thebanks social media platform to get answers. Most banks are conscious of their brand reputation and therefore tend to address issues raised on social media as fast as possible to avert a public backlash and negative reputation.
Dispute each and every erroneous credit card charges
The truth of the matter is that credit card fraud is increasingly on the rise and if not checked could seriously eat into your savings. In that regard, its highly recommended that you dispute any erroneous credit card charges and raise the issue with your bank for chargeback. Make it a habit to review your credit card statements and raise any issues you find unacceptable as relates to credit card charges. You will end up saving some money you wouldn’t if you looked the other way due to ignorance.
To sum it up, there are indeed many ways in which you can go about money saving. In addition to the above, you can also play the loyalty card especially if you’ve been loyal to your credit card company for a long time. If you have a good credit rating and boasts of being a long standing customer, you can always approach your credit card company to waive some fees for you or lower it to enable you save some money.