The cost of my unlimited lifestyle

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?

Kristina Tahnyak

Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.