For many of us, it’s hard enough finding time to visit a hairdresser let alone devoting hours to reading up on financial products. But according to experts, it’s well worth the effort.
“Take a look at your existing accounts’ rates and fees, but also their features and services. If you can’t find this information you can contact your provider or find the product disclosure statement online,” Michelle suggests.
The same applies to credit cards. Although they may be offering great features, are they suited to your spending habits?
“Credit card offers vary significantly, so if you’re paying an annual fee for a high interest rewards card but spend less than $60,000 per year on the card, you’re probably wasting money. You could be better off with a low-rate, low-fee card instead.”
Try blocking out one hour a week for each of your accounts and policies.
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