Reducing your spending on added fees

Analysis: Avg. American spends as much as $155,000 in added fees in their lifetime.

SPRINGFIELD, Mass. (WWLP)– Whether it’s banking, paying for a cell phone, or shopping online, extra charges seem to pop up just about everywhere.

Gravin Dillard, from Springfield, told 22News those extra fees add up too quickly. “It’s just the fees! The fees are too much for the everyday working folk,” Dillard said.

“I try to pay attention to them. Sometimes I get the fees because I know I’ve made a mistake. I understand that, but I also understand that they can mount up,” Cynthia Melcher, from Springfield, said about the issue.

Now, a new analysis from FeeX.com is reporting that in the average American’s lifetime, you could spend as much as $155,000 in added fees.

The analysis found that a big chuck of that cost comes from things like ATM fees and bank overdraft fees. Something financial experts say could be easily avoided just by planning ahead.

For instance, the authors of the analysis advise if you figure out how much cash you need weekly you can better avoid last minute, costly trips to an ATM machines outside your bank’s network.

Other troublesome fees listed included restocking fees from retail returns, hidden shipping costs, and from breaking gym or cell phone contracts early.

“It’s more of an annoyance these little fess because they do add up after a while. Big companies and little fees, you have to read the fine print because if you don’t it’s really going to get you in the end,” Dillard said.

Another one of the culprits are credit cards. The National Federal of Credit Counseling says to avoid paying thousands of extra dollars, pay your credit card bill in full, on time, every month.

For help, ask your credit card company for text or email alerts well in advance of when your payment is due.

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