But we lose money on things all the time. It’s just that it’s not so in-our-face, so we don’t get mad about it. Here are some places that your money may be hiding. Check this list and see what you can correct.

 

1. Bank/ATM/overdraft fees– How much do you spend in this area each month? Look it over and fix it! There are enough options out there now for free checking, free ATM, etc. that you shouldn’t be paying for this. And if you’re paying overdraft fees, stop. Rework your budget to realistic figures to make it stop. Go to an envelope system and only get cash once a week or every 14 days. When it’s empty, don’t go get more!

 

2. Your home-are you eligible for a refinance? Would it be of significant savings? Worth checking out. Are you paying PMI and maybe you don’t need to anymore? What is your homeowner’s insurance policy like? Can you raise your deductibles in some areas to save on monthly costs? Will your landlord agree to lower your rent or not to raise it, if you sign a 2-year lease? Can you doing some painting/home repairs in exchange for lower rent?

 

3. Interest charges-if you’re still carrying a significant amount of credit card debt, look into assistance programs or consolidation programs. Call your lenders, ask them to cut you some slack. The worst that can happen is they say no and you’ve lost ten minutes of your day. Best case scenario, you save money on interest. And stop buying things on credit. My Nan’s rule was the only thing you buy on credit is your home and your cars. Good words to live by.

 

4. Medical-every time I go to pay for this one prescription at CVS, it’s a different amount. And yet, I’ve never looked into it. Isn’t that stupid? And I’m talking about it being $47 one time and $64 the other day (it’s migraine meds). I don’t even know what our co-pay is supposed to be, but I don’t think I’m on a variable rate plan. How many times do your EOBs come in the mail, and you look at them and just toss them aside or file away? Just write a check, take care of the balance………..call the company! Know what you’re paying and make sure you’re being charged the correct amount.

 

5. Filters-everything has a filter. Your HVAC unit, your furnace, your cars, your vacuum cleaner, water softeners. Clean them and replace them to run more efficiently.

 

6. Car maintenance-keep up with the regular maintenance on your cars to keep them running better and longer. My car has 165k miles on it, and I plan to get several more years out of it. And we’ve never done much more than the routine maintenance on it, not to mention it’s been years since we had a car payment on it.

 

7. Insurance-review all of your insurance policies to make sure they are what’s best for you. Co-pays, deductibles, loss amounts, check it all out. And make sure you are properly insured on your home’s contents.

 

8. Gym memberships-get real with yourself, are you getting your money’s worth from your gym membership? Can’t you run/walk/hike/other activities on your own, at no charge? If you can’t commit to doing 25 pushups and situps each morning in your own home, how realistic is it that you’re going to drive a few miles to a gym? If you’re not using it, drop it.

 

9. Cable/phone/cell/internet plans-how long has it been since you evaluated these? How often do you watch those premium channels, vs. how much they cost you each month? How much are you paying, per show, on the premium network? Drop it and get Netflix instead.

 

10. Home maintenance-when we replaced our furnace (had no choice, original one with home and it died) and our insulation, we now use one less tank of oil each year. One whole tank! At $4.xx a gallon for a 275 gallon tank, that’s huge! Do the maintenance on these things or consider replacing them. Check all your possible areas for leaks-doors, windows, etc. Not only does heat escape, so does AC. You’re losing money year-round. Get rid of vampire appliances. Get rid of drafty areas. Turn things off when you’re done using them. Wrap your hot water heater in a blanket. Do routine maintenance. Make sure that intake areas are not blocked, nor are your vents, for best circulation. Look into a ceiling fan or attic fan.

Keep looking, I know you’ll come up with more ways to find hidden money. Right now I’m trying to go the rest of the summer not using the dryer, or only using it for towels. Who else has some ideas?