Save Over $5,000 on Sneaky Fees

Kiplinger has an article on what they call "sneaky fees", the extra charges like $2 here and $4 there from your bank, credit card issuer, and so on -- the same sort of fees talked about in Gotcha Capitalism: How Hidden Fees Rip You Off Every Day-and What You Can Do About It. It's a decent piece if you want some background, but there are more specifics in their list of ways to save over $5k on sneaky fees. Here's what they came up with:

• Reduce Your Bank and Credit Card Fees -- Total Annual Savings: $238
• Beat Back Investment Fees -- Total Annual Savings: $819
• Zap Cell Phone and Land Line Fees -- Total Annual Savings: $832
• Put a Stop to Car Rental Fees -- Total Annual Savings: $1,074
• Avoid Hotel Surcharges -- Total Annual Savings: $630
• Navigate Around Airline Fees -- Total Annual Savings: $1,170

A few thoughts on these:

1. I have no doubt that SOME people pay many of the fees they list, but I don't think many pay a majority of them. Or maybe they do. Maybe people are more clueless than I suspect.

2. I pay very few of these fees as many of them are easy to avoid.

3. Some of them are actually worth paying from a convenience standpoint (such as renting a car at the airport.) It may be worth the extra fee not to have to haul your bags across town on a shuttle. And if your company is paying for it and they don't mind, what's the issue?

I'd be interested in your take on this too. Are these fees something that most people see or not? How about you?

Comments

[Ryan S]

I don't see these fees as typical. The article assumes that it's audience:

1. Is late on credit card payments once a year and has ATM fees on out-of-network machines ONCE PER WEEK.

and

2. Is smart of enough to have $50K socked away but at the same time is gullible enough to pay broker fees twice per month of $30 each.

and

3. Has massive amounts of overages on cell phone every month.

and

4. Assumes 1/12 of the time you are on vacation without your own vehicle and need a rental vehicle.

and

5. Stay in a hotel 14 nights per week that has mandatory valet, mandatory maid gratuity, pigs out on the minibar, mandatory resort fee. This one is Highly unlikely just by itself.

and

6. takes 6 airline trips per year all booked under the worst circumstances.

So what is this, like 1 out of 2 billion people?

[Billy]

Sorry but this list is real BS -- $1,100 saved on flights, 600 on hotels? I have not spent that much on either in the past year and they think we are going to save that amount?

Looking at the article, they assume 6 flights per year, 14 nights in hotels, 4 weeks of car rentals? Are these numbers in any way indicative of real life? Am I simply a hermit?

["Mo" Money]

I don't see anything in the article that would affect my lifestyle. Maybe the author was having a "writers block" and this was the best he could do!

[Lin]

Looks like I'm not part of Kiplinger's target audience. (apparently this audience is clueless). Last time I stayed at a hotel with a minibar, I was on a job interview.
Now I will rent a car at the airport .. I don't want to haul bags halfway across town, either...

[Ryan S]

I saw another one that tells you how to save $1514 per year on gas by US News reporter Sean Tucker. I was just thinking, I don't even spend $1514 on gas.