When you don’t have financial papers organized , bills can get lost, causing you to accrue fees for being late with the payments. Replacing lost items and buying duplicates of those we didn’t realize we already had can carry a cost that adds up quickly.
Financial fees . Consider negotiating them with your banker or changing banks. Interest for short-term debt . If you cannot avoid it completely, then use a bank that charges less interest. Stocks brokerage account fees. Usually comes as monthly account fees and trading fees. Mutual funds management fees or “expense ratio .” Those are charged annually and can go over 2%.
Personal finance tips that don't require frugality
You’ll only build wealth if you save a reasonable percentage of those earnings. If your employer offers a 401(k) plan, increase your contribution. Automatically send a portion of your money to your savings or investment accounts before you can spend it. Purchase a home instead of renting. You'll get your house payments back in the form of equity. Pay off anything you owe to avoid paying interest. Maximize the interest earned on your savings.
Most people should not be paying annual credit card fees. A host of Visa, MasterCard and Discover cards have no annual fee, yet many people pay $100 or more a year for the privilege of holding a premium credit card.