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Worthy Wednesday Savers #5

My Bank statement was emailed me through to me and I quickly had a look over it, thinking “well there shouldn’t be any surprises I have been budgeting”….not so fast! Something I always bypass as a ‘eh money spender’ are bank withdrawal fees. This time however it caught my attention, $26.20? And as I sat there and really thought about it, I wondered is it really that difficult to park the car and cross the road to go to my actual bank? Convenience costs money - Food for thought! Avoid ATM fees Be aware of the ATM withdrawal fees charged by your bank. In 2012 alone, Australians spent $670million in ATM fees*. While some banks waive fees for all ATM transactions on any ATM machine, most don’t. So be sure to use only those ATM machines where your bank will not charge the fees, or withdraw directly at your bank. Outsource Less Convenience will be the death of our finances in the end! Wash your car and your pets yourself, mow your own lawn, iron your own shirts and do your own cleaning. Good workout and big savings! This is definitely something I need to start practising. Just by washing and ironing my own business shirts I could save up to $624 a year (@ our local laundry mat we pay approximately $52 a month or $2.60 a shirt) Pay your bills on time and avoid late fees Get organised about your regular bills. If possible, automate the payments. Most utilities and other recurring bills can be set to be charged to a credit card or deducted from a checking account these days. Something that works for me, is as soon as I receive the bill I put it in my Moneysoft calendar as a reminder. This helps with budgeting overall, when I budget for the month I tend to start with my calendar and see if I have birthdays, meetings in the city which would require public transport, bills etc. Leave the credit card at home Decide how much “fun money” you will allow yourself per paycheck, and take it out in cash on payday. When you’re out — you’re out.