How to Save Money Online
You know I'm all about doing as much stuff online as I can. Sometimes it's just faster and easier and now it can save us money!
Ditch Banking Fees
I used to be a customer of a large financial institution and about six years ago I told them to go jump in the lake and I've never regretted it a day in my life. Did you know often times banks charge you a fee to keep your money at their bank? How stupid! The average monthly service charge can sometimes be $6. Now, that doesn't seem like a lot of money, but it's your money. You shouldn't have to pay someone to keep it in their financial institution. According to the Consumer Financial Protection Bureau, the average bank customer pays somewhere in the neighborhood of $300 per year in overdraft charges. Since when did banking become so unaffordable? You can shop for a new fee free bank online at Bank Rate, or do what I did and join a credit union. They have no fee checking, no minimum balance and generally offer better interest rates, There are also web only banks that partner with major financial institutions with a website called Simple. It's a web-only bank, but you do get a debit card and apps to keep track of your money.
Keep Track of Your Investments
If you have a retirement savings account, it's a good idea not to ignore it. When we ignore our investments, it can cost us money. Even though you may have lost money in the crash a few years ago, don't be too scared to look at what you have. If you need help, try Betterment. Their website states that the company was started because they didn't want products that were difficult or time consuming. Betterment lets you invest as little as $100 a month. There are a number of questions they ask about your lifestyle, retirement and goals and then they get to work. They will watch your portfolio for you and move your money around if it strays away from what you want.
Pay Less for Prescriptions
I take an inhaled corticosteroid medicine twice a day. I was way over paying for my meds, so I was looking around for ways to lower my prescription costs, and I found a website called Goodrx. It lets you compare your prescription costs from store to store. You just put in your drug name and your zip code and it goes to work. Turns out I was paying $262 a month for my inhaler. I found it for $222 at a different store. That's $40 a month savings or $480 a year! There's also a mobile app so when you get a script from your doctor, you can put in the drug name into the app and search for where you can get it for the lowest cost.