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Avoiding markups and consumer credit counseling may help keep money in consumers' pockets
By Peggy Stillwell on Mar 25th, 2010
Consumers who are looking to handle their personal finances may consider trying to cut back on certain expenses, especially if they are frivolous.
A recent post from BillShrink.com presented a list of some of the biggest money wasters American consumers may encounter. For example, text messages are one thing that people may want to reduce, especially when they find out how much it actually costs to send them.
The article noted that Srinivasan Keshav, a computer scientist who testified before the Senate last year about text messages, said that it costs companies about one-third of a cent to deliver text messages.
"But despite that cost, the typical pay-per-text plan whacks cell phone users to the tune of twenty cents and ten cents per each outgoing and incoming text, respectively," the BillShrink post said. "That equates to an eye-popping markup of 6,500 percent."
Other money-wasting products listed by the website included brand-name painkillers, movie theater popcorn and premium gasoline.
By cutting back on some of these products, consumers may end up having more money in their pockets for bills. Also, a consumer credit counseling service may be able to point out other areas can reduce their spending, which can help with budgets.
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