Don't Pay to Manage Your Money
Bank fees, software, tax grooming: if you aren't careful, your money can wind up costing you a pretty penny. I'one thousand of the opinion that in virtually cases, you lot really shouldn't take to pay to manage your own coin. As long every bit you're an individual (every bit opposed to a business), I can't run across the bespeak of paying for a whole listing of things that are bachelor for free with just a lilliputian hunting. I'm not talking almost options that require extra work on your part, either — while some of the open source budgeting software can be pretty cool, I'll be the start to acknowledge that it isn't the best pick for the average person.
ane. Banking Fees
In add-on to an intense dislike for fees I can avoid, I really don't come across the point of paying my depository financial institution for the privilege of letting them employ my money — which is what banking fees amount to. Most banks have at least one free bank account available, although it may not offer every bong and whistle. Credit unions tin be good options for finding a free account, too, every bit long as yous qualify to join the credit union.
There are also several banks that take built their reputations on offering only gratuitous banking, similar ING Direct and FNBO Direct. Personally, I utilise ING Straight and accept found it to exist ideal — if you've used another bank with a not bad free account, please allow me know in the comments.
ii. Budgeting software
With sites like Mint.com and Quicken Online offering complimentary coin management and budgeting software, I have a really hard fourth dimension thinking of a reason to pay for budgeting software. In fact, the merely concern that I've seen with online money management applications is the question of privacy. Sites like Mint accept gone to some pretty pregnant lengths to protect users, but if you're notwithstanding worried, you lot might consider downloading an awarding. At that place aren't as many solid software packages that you can download for complimentary, I'm afraid, but I know there are a few options out in that location. If yous've got a atomic number 82 on a practiced i, please share it in the comments.
three. Tax Preparation
While at that place are a fair number of people who do need some help with tax preparation, information technology's astonishing just how many people tin really avoid paying to accept their return prepared and due east-filed. If you earned less than $56,000 in 2008, you're automatically eligible for the IRS' Free File programme. Even if you lot earned more than that, you can get your taxes prepared for free with online options like TaxAct or TurboTax, as long equally you have a relatively simple tax return.
You may need to explore other options if your taxation return doesn't expect like information technology will be then simple: if you have a business, unusual deductions or income from a wide variety of sources, a gratis filing option may not be able to correctly complete your return.
4. Credit Counseling
There are so many companies promising that they can get you out of debt or avoid foreclosure, for a reasonable fee. The fact of the matter, though, is that such companies are shady at best. You lot are able to access free credit counseling, equally well every bit consumer debt and defalcation assistance through the National Foundation for Credit Counseling. The NFCC offers referrals to local credit counseling agencies.
Information technology's worth noting that while y'all can avert credit counseling fees, there are often fees associated with specific services offered past an agency. While these organizations are typically not-for-profit, they are still self-supporting.
5. Personal Finance Books
One of the librarians at my local branch told me that while our local library district has a huge collection of personal finance books — including many best sellers and new releases — they still don't get checked out as often as you might think. If you're working on straightening out your finances, and want to read a particular personal finance volume, check your local library. If you've already got a library card, you lot can usually cheque a volume's availability online. You can take books brought to your local branch, add together your proper name to the waiting list (if at that place is one) or even request that the library consider purchasing a item book online in about library districts these days.
6. Your Credit Report
In that location'due south actually legislation in identify stating that each credit agency must provide y'all with a copy of your credit report each year. The three primary agencies, Equifax, Experian and TransUnion, provide copies through AnnualCreditReport.com. You can also adjust for costless copies of other reports, such as your ChexSystems' report. ChexSystems is a reporting agency used by banks to written report problem customers. You're entitled to i free study each year from each agency.
More Than A Little Savings
You tin can save a surprising amount of money just by taking the fourth dimension to notice a free money management pick. Whether we're talking about banking or credit reports, there are plenty of free opportunities out at that place — and at that place'southward non equally big of a trade off for making the switch as you lot might recall. In other areas, choosing a costless option over a costly alternative normally means that y'all're giving up an element of service or a few features. But with the budgetary options I've listed above, at that place isn't that much of a divergence: you lot may even find yourself in a ameliorate position by avoiding services meant only to take your money.
Source: https://www.lifehack.org/articles/featured/dont-pay-to-manage-your-money.html
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