Explain missed payments
If you’ve ever forgotten to pay a credit card bill or had to stretch a payment into another month, you know how high late payment charges can be. It’s worthwhile to call the credit card issuer, explain that you made a mistake, assure them that you have since paid the bill, and ask them to waive the fee if possible. While this approach might help you avoid fees once, be sure not to make a habit of it. To avoid running late, mark your payment deadlines on your calendar and stay within budget when using your card so you have the money you need to pay on time. Chronic late payments will result in more late fees, possible hikes in the interest rate you pay, and lower credit scores.
Reassess your ride
According to the AAA, it cost $8,698 on average in 2015 to drive a typical sedan 15,000 miles in a year, $9,372 for a minivan, and $10,624 for an SUV with four-wheel-drive. Those numbers include average fuel, maintenance, tires, license and registration fees, taxes, depreciation, and finance charges. If you’re wondering if downsizing is best, check out resources such as Edmunds.com’s “True Cost to Own” site to help you determine what your likely annual costs will be for the makes and models that interest you.
Lighten up on baggage fees
Airline baggage fees can run around $25 for a first checked bag and sometimes even higher for a second or an overweight or oversized bag. Packing light is one great way to avoid extra fees, as is joining a frequent flier program that offers discounts on baggage charges. In addition, when you’re comparing fares, find out the baggage charge for each option to determine what your total cost will be. It may be cheaper in the end to pick the flight with a slightly higher fare but a better baggage policy.
Turn to your local CPA
Want more help staying on budget and making the most of your money? Your CPA can help. He or she can offer advice on all of your financial questions. If you need a CPA ask friends or relatives for recommendations or use the PICPA’s CPA locator at www.picpa.org/moneyandlife.
Like us at https://www.facebook.com/pages/New-Pittsburgh-Courier/143866755628836?ref=hl
Follow @NewPghCourier on Twitter https://twitter.com/NewPghCourier
Download our mobile app at https://www.appshopper.com/news/new-pittsburgh-courier
About Post Author
