How Your Small Business Can Retain More Profits by Avoiding These Common Fees
(Be sure to attend our next workshop at the Buckhead Library on Managing Risk in a Small Business Effectively with Jim Foster)
It seems as though every time you turn around, there’s a fee. There are fees for starting: activation or setup fees. There are fees for ending: termination fees. If you ever tried to cancel a cell phone plan early or check out of a hotel, you’re charged a fee. While some fees are standard, there are times when we pay them blindly and unnecessarily. Here are ways business owners can avoid some common fees.
Dodge fees when traveling.
It’s easy to get caught off guard when traveling for business. Some hotels charge you a resort fee. This can be for the use of internet, gym facilities, pool or tennis courts whether or not you use them. Avoid minibars, room service and using the telephone at the hotel since those features can come with a hefty markup.
Also, scan each line item on your bill before checking out. Be sure to hold onto your bill too. I once checked out of a hotel in Maryland. I left thinking I was paying the amount that was on my receipt. Shortly after, I noticed a discrepancy for what I was actually charged. Some other random fee was tacked on. Thank goodness for credit card text alerts! I cleared that one up right away by calling the hotel. It was a good reminder to always hang on to the receipt and question any “fees” right away.
Another way to avoid travel-related fees is using the tools already available to you like your credit card for example. Most rewards credit cards offer many travel perks that could cancel out any regular fees and save you money as a result. Forbes Contributor and avid traveler, George Papadopoulos of TravelBloggerBuzz.com explains that the good news is some travel rewards credit cards can enhance your travel experience at the airport. You can gain access to an airline lounge entry, receive early boarding and more. He adds that it saves you money by avoiding baggage fees and other ancillary fees. Just be sure to read the fine print and know what you’re signing up for.
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Written by: Karen Cordaway
Karen is a nationally syndicated personal finance writer and money-saving expert who loves discovering easy solutions to common financial roadblocks. She has written articles for US News Money, Huffington Post, ClarkHoward.com, Due.com and other hot spots on the web. She has been featured in O Magazine, Money Magazine, Market Watch, The Consumerist, MSN, Huffington Post, Yahoo Finance, Daily Finance and many more.