Fees are a major pain and they’ve worked their way into so many different industries! We recently talked about travel lodging and discussed the annoyance of the countless fees that might get tacked on: resort fees are some of the most confusing, but parking and WiFi fees abound too! With fees becoming so prevalent across our financial lives, we need to be aware of how and when we encounter them so we can be vigilant and intentional to avoid them whenever possible. While we understand and will readily admit that certain services and products have a cost, we really don’t like it when those fees are hidden until the last minute or when companies go about adding them in an underhanded way.
Additional Resources:
- Here’s an article about the new show we mentioned, Going From Broke which you can watch for free on Sony’s Crackle.
- Rates have dropped so if you have student loans, you might want to consider a refinancing. Be sure and check out Meagan’s article on refinancing for more information, or get some quotes with Credible or SoFi.
- We dedicated an entire episode to how fees will crush your retirement savings. Make sure you’re going with a low-cost brokerage like Fidelity, Vanguard, or M1.
- Cutting back on products and services is definitely one way to avoid these fees. For instance Ep #107 was all about cutting the cord. But if you appreciate and value the service, then switching providers who won’t fee you to death is the way to go. Go with a bank who is paying a decent interest rate or look into a cell phone provider who is turning the industry on it’s head!
During this episode we enjoyed a Bourbon Barrel Dark Apparition by Jackie O’s Brewery- a big thanks to Art, Mackenzie, and all of our friends there at the brewery! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money!
Best friends out!
