Become a Financial Detective

Whether or not the failing economy has you in a pinch, you can find extra money in your household by tracking down those little things that add up to a big chunk of your money going out the window over long periods of time. An extra dollar or two is not likely to make a huge difference. It is the overall impact that a bunch of dollars from different sources can add up to.

While many financial gurus have recommended cutting out a little factor to help your budget, I am not talking either about the latte a day you drink or the croissant you have for breakfast on the way to work. We are going to dig down deep into those hidden costs that you may not even be aware you have.

INSPECT EACH AND EVERY BILL AND STATEMENT YOU RECEIVE If you are like a lot of people in financial straits, they would rather ignore the debt and the bills so when they come in you toss them in a neat little pile, or you just shred them right up without looking at them twice. If you are automatically writing out checks for expenditures like utilities without really looking at what you are paying for, you could be giving away a significant amount of cash over time.

When I first started studying my bills, I found an extra cable television receiver that I was being billed for and it had been on my statements for almost 8 months. At the rate of about thirteen dollars a month, the additional unnecessary expense to me had been significant. I also found a recurring charge on our cell phones that had originated from our teenager claiming a "free" ring tone and one for a monthly subscription on a cell phone game that we had, but didn't even play.

During a time of boredom, my husband had ordered a gaming channel on our cable television. He probably played it a month or two before the novelty wore off and we were still paying out for a service we weren't utilizing.

RE-EVALUATE YOUR AUTOMATIC EXPENDITURES PERIODICALLY Recurring charges that are taken out of your account automatically can save you from having late fees on those purchases. Occasionally you have to re-evaluate the need for that cost. We constantly change and alter our lifestyles and our interests. That gym membership you once used routinely can just turn out to be a financial albatross around your neck when you quit working out but forget to cancel your automatic withdrawal. What recurring charges are you automatically paying for and have long since forgotten about? Online gaming sites, website fees, memberships, subscriptions, movie rental services, and credit protection services are just some of the items you may be paying for out of habit instead of need.

CONVENIENCE FEES AND FINANCIAL SERVICE FEES CAN BE ELIMINATED OR GREATLY REDUCED With diligence and planning, you can either get rid of or lessen the amount of convenience fees you are paying. If you are charged extra for using an ATM outside of your banking network, don't use them. Plan to get cash when you are near your bank or get cash back when you make other purchases. Paying bills online, while convenient can sometimes come with extra costs for the service. If you pay early, you won't feel the need to have to use a payment service that comes with a fee. Some creditors charge for phone payments also. Be aware of your banks policies regarding monthly service charges. If you can avoid them by having a direct deposit to your account or keeping a minimum balance, then it is in your interest to do so.

STOP THE ENERGY HOGS IN YOUR HOME Of course, you know that you should turn out the lights your aren't using and turn off appliances not in use. Are you actually doing it? Are you setting the thermostat just slightly out of the optimum range to save a bit here and there? Do you unplug your phone charger when not in use? If the little light is on, it is using power. I myself have starting using the short cycle on my washer. The faster cycle is still getting our clothes clean, with a lot less energy usage.

Making these changes and being more aware of your routines and habits, can save you large combined amounts when added up over time.