Good morning Dinks. Let me as you a question, do you believe in paying for convenience? Normally I would say no. I am the type of person who will walk five blocks in a snow storm to my bank to save on bank fees even though there is another ABM only a few feet away. I think it’s completely ridiculous to be charged for taking out money from another bank’s ABM. My bank is going to charge me $3 and the other bank is going to charge me $3 and that’s just too much money.
All that to say I usually don’t believe in paying for convenience. I will take the bus or train over flying if it saves me $300, depending on how much time it saves. Paying extra for convenience is OK sometimes if there are really no other options, however overpaying just because we’re lazy is probably a waste of money.
The exception to that rule is restrictions. I don’t mind paying for convenience if it means not being restricted. As you know I have major commitment issues. I never follow through on anything and I can’t keep a standing appointment if my life depended on it. I tried giving up Diet Coke for Lent and that was an epic fail, I lasted five days. I don’t like being told what to do and that’s the one time I’m willing to pay for my freedom. Are you the same way?
Here are two ways I waste money on unlimited living:
Monthly Banking Fees. Since I left the world of banking and started working for an investment firm I have had to start paying banking fees. As a former bank employee who hasn’t paid for anything since she started working for a bank at 19 I can tell you that banking fees are the bane of my existence.
I pay $14.95 for an unlimited checking account because I like to use my debit card whenever and where ever I want to and I can’t commit to keeping $3000 in my account at all times. Thanks to my need for personal freedom and my lack of the ability to commit to anything I pay $180 a year in bank fees.
Cell Phone Usage. After a few major cell phone bills of over $200 each I finally caved in and changed my plan to unlimited. Now for only an extra $20 per month I can call across the country to any one at any time without restrictions. I used to have to run out and buy a phone card if I needed to make a long distance call before 5 pm and I always told myself “It’s just this one time”.
That one time turned into several times and on many occasions I found myself needing to make calls without a phone card. So after several hundred dollars in cell phone charges I caved in and switched to an unlimited plan. I don’t like committing to pay an extra $20 per month but obviously I didn’t have the discipline to stay within the rules of my previous plan.
Do you pay extra on anything for the convenience of it?