In Savings Habit 3, We looked at why it is wiser to Use Cash Versus Credit and Debit Cards for Discretionary Purchases Today, we are going to look at the final Savings Habit in our 4 part series:

Savings Habit #4.  How To Avoid All Unnecessary and Late Fees! - What’s worse than giving the government an interest free loan?  How about throwing away money already in your pocket?  If you were to go back and check the amount of late charges and ATM fees you paid over the last year, I am guessing it is somewhere between $100-$500.  That is real money you’re throwing away and by doing this, you are going the wrong direction.  Remember it’s not so much the amount of money but the direction and path you are on financially.  One way to avoid paying late fees is to Automate Your Finances. Let’s look at what you can do right now to fix this and stop paying these fees!

Action Step 4: In an earlier post, I wrote How To Automate Your Finances in 2010.  No Surprise; this was one of  The Wise Buck’s Most Popular Posts.  Read this post and simply start doing these things today.  The time management benefits alone are worth it alone but don’t you really want to stop throwing that money out the window?

By automating your bills you will be sure they paid on time and you will avoid paying late fees in the process.  Something that has genuinely helped me manage my personal financesis that on every 3rd Wednesday of the month, I review all my bills to make sure they are paid.  Then, I review all my accounts for potential errors or discrepancies.

Conclusion

I hope you have found this 4 Part Series on How To Boost Your Savings relevant and useful.  The only thing left is for you is to take action and implement the steps.  Here is what I would do.  Put aside 1 hour.  Then, go back, read through each of these 4 Savings Habits and begin to implement them one at a time.

These 4 simple savings habits and steps in between have made all the difference in the world for me.  The best part is that none of these ideas require that you earn a higher income.  These steps WILL put more money back into your pocket and make you feel a lot wiser for doing so.

Share your ideas as to how you are putting these and other savings tips to work for you.

Related posts:

1. 4 Savings Habits To Increase Your Savings – Savings Habit 1 Getting The Most Out Of Your Current Savings
2. 5 Retirement Saving Tips For Late Starters