Latest news with #hiddenfees
Yahoo
09-08-2025
- Business
- Yahoo
US homeowners are sinking $21K a year into their homes — thanks to these invisible expenses. Are you doing the same?
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Did you know the average annual cost of owning and maintaining a single-family home in the U.S. is more than $21,000 a year? And that doesn't even include your mortgage payment. A new Bankrate study did the math, highlighting exactly why some first-time home buyers end up regretting their decision once all the hidden fees are revealed. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now The study found that many new homeowners don't factor in these expenses before making an offer, leaving many unable to keep up with expenses over time — particularly in high-cost-of-living areas like the East and West Coast. While this doesn't mean you should permanently forgo home ownership, it does highlight the importance of being aware of the real expense of owning in comparison to renting. Here are some of the biggest hidden costs you should factor into your budget before accepting the keys to a new home. Home insurance The study notes that home insurance prices increased by 24% between 2021 and 2024. They attribute this steep increase to both a rise in property values and the growing frequency of extreme weather events due to climate change, like the fires in Los Angeles and Hurricane Milton in Florida, which inevitably lead to insurers raising their prices. Coming in at an average of $2,267 a year, this is one cost you can likely reduce by contacting a variety of insurance providers and asking for quotes. Remember, sometimes they raise the price just because they want to — but you can always take that as a sign to find a new provider. If you're looking for a quick way to find the most affordable home insurance options, try Just answer a few simple questions, and you'll be provided with a variety of insurance quotes. Users report saving an average of $482 a year after making the switch. Keep in mind that you don't have to wait until your policy is up for renewal to make a change. Just watch out for any early cancellation fees, and factor those into your calculations. Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Utilities If you've spent your renting years enjoying the cost of utilities being included in your rent, you may feel shocked at just how much more expensive life feels when you receive bills for gas, hydro, water and electricity every month. The study found that American homeowners pay an average of $4,494 every year in utility bills alone. If you include cable and internet (which some rentals also provide) that number goes up by another $1,515. While there isn't much you can do to reduce the price charged for utilities, many utility providers offer discount pricing during non-peak hours. If this is available to you, set reminders to do utility-intensive tasks like cooking, dishwashing and laundry during those hours. Typically, these off-peak hours are during the evening, weekends or holidays. You can also call cable and internet providers to ask for the best deal currently available. In many cases, the introductory price they offered during sign up quietly turns into a much higher fee after a year, but if you call them up again and ask to cut services, they will usually offer the promo rate again. Make an appointment in your calendar to do this yearly to avoid these sneaky increases. If they refuse, there are many other providers who will be eager to give you a better offer. As always, shopping around can net you some good savings. Maintenance and repairs While the previous invisible expenses are notable, the most significant expenses homeowners experience are maintenance and repairs. While you likely assumed there would inevitably be some repairs needed down the line, these costs usually end up occurring faster and more frequently than many anticipate. Bankrate's study found the average homeowner spends $8,808 on maintenance every year. And if your home was built before 1980, this number could be even higher, as significant upgrades will be necessary. The study noted that in 2023, homeowners with pre-1980 homes spent 76% more on maintenance than those with newer homes. If you're new to home ownership, you might be feeling this pinch already, but the last thing you should do is panic. Get to work on building out your emergency fund as soon as you can. Often, this involves parking your cash in a high interest savings account so you have the liquidity to quickly respond to repairs. The owning vs. renting debate All these added costs make it clear: Despite all the hubbub around building equity and fearmongering around renting, owning the home you live in isn't always the better financial option. In fact, in the most expensive cities, when you break down the math between renting and investing the savings for retirement, or owning and being house poor — it is often the renter who comes out ahead in the future. Finance experts like Ramit Sethi regularly point out that prevailing wisdom around home ownership being the key to wealth building is a lie. That said, you may not want the hassle or extra expenses of home ownership, but that doesn't mean you should completely miss out on the gains that come from investing in property. There are simple ways to enjoy the financial benefits of property ownership without the many downsides. Platforms like Arrived offer access to shares of SEC-qualified investments in rental homes and vacation rentals, vetted for their appreciation and income potential. Backed by world-class investors like Jeff Bezos, Arrived makes it simple to add real estate to your portfolio without buying a home. With as little as a $100 initial investment, Arrived makes property investing for everyone — even long-term renters. And if you're curious about commercial property, accredited investors can try First National Realty Partners (FNRP). With a minimum investment of $50,000, you can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart without lifting a finger. Thanks to triple net leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into potential returns. Just answer a few questions to start browsing their available properties. What to read next Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
Yahoo
17-07-2025
- Business
- Yahoo
Rescue fees, infant charges and group bookings: Which European airline has the highest hidden costs?
Last month, a group of consumer organisations asked the European Commission to conduct an inquiry into what they alleged are unfair hand luggage charges imposed by budget airlines. Fees for carry-on bags can be particularly frustrating when it isn't immediately made clear that it's not included in the initial ticket price. The organisations argued that this makes it difficult for consumers to compare prices or make informed economic decisions. Hand luggage surcharges are not the only hidden extra travellers have to watch out for, however. Recently, financial news site Tradingpedia delved into the myriad ancillary fees and taxes charged by European airlines on top of the basic air fare. Their calculations were based on one-way flights from London to Rome on 21 July, a peak season for this route. Here are the airlines that charge the most. This European airline charges the highest hidden fees With airfares projected to rise by 2.8 per cent this year, flying abroad is set to become even more expensive. While low-cost carriers may appear to offer relief, the reality is often more complex, the new report shows. These surcharges, ranging from seat selection to name-change fees, are not entirely hidden - they are disclosed during the booking process, screen by screen. But they are rarely included in headline prices or promotional adverts for fares, meaning the true cost of a flight only becomes apparent toward the end of the purchase journey. The report found that Wizz Air tops the list with airlines' not-so-obvious fees for a flight, charging a total of £222.75 (€261) for several optional, yet sometimes unavoidable fees. These include £39.50 (€46) for checked baggage, £9.25 (€11) for online booking, and €28 for airport check-in. That said, it is one of the few in the ranking that doesn't charge extra for carry-on luggage. Euronews reached out to Wizz Air for comment. 'We offer a single, simple, and transparent price to our customers, allowing them to explore destinations across our network from as little as £8.99 (€10.55)," a spokesperson said. "As an ultra-low-cost carrier, we allow passengers to choose which services they wish to purchase so that we can offer the most affordable travel opportunities. "These optional add-ons are not required to fly, and we believe that customers should be offered the choice and flexibility to choose the right products for them.' Wizz Air also requested Tradingpedia update its data to more accurately represent the airline's policies and some of the optional add-ons offered, which have now been reflected in this article. Ryanair ranks second, charging its passengers £219.74 (€258) on top of the air fare for the same services. It also charges €25 for hand luggage. Vueling has the third-highest fees at £211.77 (€248) - as well as the highest checked baggage fee in the ranking at €76 - followed by easyJet with £207.26 (€243). In response to a request for comment, a spokesperson at the airline said, "easyJet does not have hidden fees. Our pricing is transparent and easyJet customers only pay for what they want, with a third choosing to pay only for the fare and nothing more." Euronews has also reached out to Ryanair about their ancillary costs. British Airways appears to have the lowest additional fees at only £61.50 (€72). Jet2 has the second-lowest fees at £69.50 (€181) on average, while Norwegian charges £92.26 (€108) in total. Rescue fees, infant charges and group bookings While some of the extra fees and surcharges are avoidable, such as seat selection, in some cases, passengers have no choice but to purchase these 'optional' services. One of these is the group administration fee – it is €10.50 if you fly with Wizz Air, but with easyJet, group bookings are charged €25 per person. Ryanair also has a card payment fee, so you may be charged a percentage of the total transaction if you pay via a credit or debit card. When you fly with an infant (under the age of 2 at the time of the flight), you do not need to purchase a ticket, but there is a mandatory fee. With Wizz Air, it is €32, while with easyJet it is €31, and Jet2 charges you only €23.50. Norwegian, on the other hand, offers infant tickets, which cost 10 per cent of the adult fare plus any airport taxes. Related Is it always cheaper to buy a low-cost airfare? Here are the hidden charges to watch out for Inflation, jet fuel costs and decarbonisation: Here's why airfares are going to continue going up Another fee that seems questionably optional is the so-called rescue fee charged by all airlines when the passenger misses the flight. If you arrive at the airport right before or shortly after takeoff, you can pay the rescue fee, and you will be given a seat on the next flight. Ryanair charges €100 per person, Wizz Air €125, and easyJet €130. Vueling has a rescue fee starting from €105 for international flights, while Jet2's rescue fee is the cheapest at €32. The other airlines also charge a fee, but do not clearly state how much it is on their websites. In some cases, the passenger is required to cancel the booking and rebook another flight at current prices. When all these undisclosed fees are added to the airfare, it often makes low-cost airlines as expensive as full-service carriers (as companies that include ancillary service fees in their ticket prices are known). As the team at Tradingpedia concludes, 'the findings shed light on whether budget airlines are genuinely cost-effective or merely perceived as such.' This article has been updated to reflect revised data from Tradingpedia as requested by Wizz Air. 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The Drive
13-07-2025
- Automotive
- The Drive
Car Rental Hidden Fee To Watch For: Get Charged for Crossing State Lines
The latest car news, reviews, and features. Renting a car in America is a consumer experience that's fraught with pitfalls. Hidden fees and fine-print conditions abound. After publishing the frustrations people have had with new AI-based damage fees, somebody emailed us to share another rental car company 'gotcha' that might not be on your radar: Extra charges for driving across a state border. This week, an email came in complaining about a rental car service called Routes—a brand I personally hadn't heard of, but one that does have quite a few agencies across the country. It also has a pretty deep catalog of reviews. Bad ones. As of this writing, it's at 1.3 stars on TripAdvisor. 'I recently rented from ROUTES in Atlanta (slightly lower cost and wanted to support an upstart), but my savings were dwarfed by a change they have for leaving the state,' our reader told us [sic] over email. 'Yes of course it is on the rental agreement, but under a category of Cross Boarder, which I assumed dealt with going into a foreign country like Mexico, Canada or maybe Texas. I had prepaid my rental and ten had zero option to resolve this. Oh and even though they have GPS on the car they charge me for every day of my rental, not just the ones that I was in South Carolina. The price for getting caught was $30 plus tax and the cost of paying up front was $21/day.' I looked into this and, sure enough, an out-of-state driving fee is plainly stated in Routes' rental policy, though I found it under the subheading 'Geographic.' As the rental company states [sic] : 'Mileage: Unlimited mileage is offered only within the state where the vehicle is rented. Vehicles are not allowed to leave the state of the renting location without written permission otherwise, an out-of-state/state crossing fee will be applied up to $29.99 USD/per day. Please check with the agent at the time of pickup.' Looks like Routes is following the RyanAir model of offering an ultra-low base price, then slapping fees on as many details as possible once you're committed. Scammy? No. Scummy? Maybe a little. But the moral of the story here is that you absolutely positively have to read your whole rental agreement, especially when you're going for a budget option on something like a car rental or flight. I could totally see somebody hastily scrolling through the terms and conditions at a car rental counter, not realizing, or expecting, something as trivial as crossing a state border to incur an extra fee. Hence, my inclination to share this with those of you who might need to hire a car in the near future. I've certainly never heard of such a fee, and like the person who wrote in to us, if I saw a 'cross-border' clause, I'd probably think that referred to driving to Canada or Mexico. Stay vigilant, folks. Run into any other rental car shenanigans like this? Drop the author a note at
The Independent
08-07-2025
- Automotive
- The Independent
Car finance mis‑selling: could you be owed up to £4,000**? Find out in 60 seconds
For many, getting a new car brings excitement and freedom. But beneath the gloss of some finance deals hides a worrying reality. Millions of drivers who took out PCP or hire purchase agreements between 2007 and 2024 may have been overcharged due to hidden fees and secret commissions they weren't told about. These issues aren't just small oversights. They could mean you've been paying more than you needed to, with average compensation potentially reaching around £4,000**. That's a significant amount: enough to help with bills, unexpected repairs or just take some pressure off your budget. If you've financed a car in this period, it's easier than you might think to find out if you're owed money. My Claim Group, the UK's largest car finance claims company, offers a quick and straightforward online check * that takes just 60 seconds to complete – no complicated forms or confusing legal terms. Even if you weren't aware of it at the time, these finance deals may have quietly cost you more than they should. Taking a moment to check means you're simply uncovering what's already owed. Think of it as a chance to set things right without hassle or heavy lifting. What you might not have known about your finance agreement Between 2007 and 2024, nearly 40 per cent of PCP (personal contract purchase) and hire purchase car finance deals included hidden fees and secret commission arrangements that customers weren't made aware of. These commissions were paid by lenders to dealers or brokers but were often not disclosed to buyers, meaning many drivers unknowingly paid inflated amounts. Essentially, part of your monthly payments might have been padded to cover these undisclosed commissions, making your car finance more expensive than it should have been. This practice, now under FCA scrutiny, means millions could be owed compensation** for these overpayments. How My Claim Group can help My Claim Group operates on a no win, no fee basis***, so you only pay if your claim is successful. With over 11,000 Trustpilot reviews, they have a strong reputation for supporting customers through the process. The FCA found that many drivers weren't properly informed about how fees and commissions affected their repayments – meaning hidden costs could have inflated monthly payments without clear explanation. My Claim Group takes the opposite approach, being upfront and transparent every step of the way, so you always know exactly what to expect. There's also a 14-day cooling-off period, giving you the freedom to cancel without charge if you change your mind. Making a claim is simple and quick*. My Claim Group's online form takes just 60 seconds and checks for all your previous car finance agreements from 2007 to 2024. You don't need to have your finance documents handy or understand legal jargon – just provide some basic information like your name, contact details and the cars you've financed. This includes all PCP and hire purchase agreements across any vehicles you've had, so you won't miss a thing. Their expert team handles the rest, including tracking down your agreements and assessing your eligibility, making the process as hassle-free as possible. Don't miss out on compensation you might be entitled to. With My Claim Group's trusted team on-hand to take care of everything, it only takes a minute to check*. *My Claim Group will undertake a free check at no cost to you on your behalf to assess if you may have a vehicle finance claim. Solicitor fees are up to 36% inc VAT. We receive a fee after a successful payout or a referral fee from your solicitor and this does not affect the compensation you will receive. You do not need to use a claims management company to make a claim; you can do this yourself for free by contacting the car dealership or finance provider and if that is not successful you can complain to the Financial Ombudsman Service.
SBS Australia
19-06-2025
- Business
- SBS Australia
Energy price rules for electricity retailers are changing soon. Here's what to know
Energy retailers will be barred from raising bills more than once a year and will be forced to remove unfair fees for vulnerable customers under new rules announced by the energy market rule maker. The move will help reduce the complexity and opacity of the poorly understood electricity system, and prevent customers from being ripped off, Energy Minister Chris Bowen said. The changes announced by the Australian Energy Market Commission include: Preventing retailers from increasing prices more than once a year Banning excessive fees for late payments, and Prohibiting fees for vulnerable customers Retailers must also ensure vulnerable Australians are receiving their best available plan. The commission's rule changes will be phased in over the course of next year, with the first tranche coming into effect on 1 July 2026 and the remaining changes applying from 30 December 2026. The changes are intended to clamp down on retailers who lure customers in with cheap deals, only to move them onto higher cost plans or impose hidden fees and charges. "I'm not going to pretend that they're a silver bullet, but clearly, the situation hasn't been working," Bowen told ABC Radio National on Thursday. "There are many, many Australians, either in hardship or not in hardship, who aren't on their best possible plan. That's not their fault. We need to make it as easy as possible for them to change." Research has found about 40 per cent of Australians don't read their energy bill. More needs to be done to ensure busy consumers receive their best offer, Bowen said. But it's only part of a broader reform process to make the energy system simpler and fairer, he said. On Wednesday, Bowen flagged changes to so-called Default Market Offer rules in a bid to force energy companies to compete harder for customer dollars and prevent unfair price hikes. The regulations were intended to establish a benchmark price to limit price gouging and put downward pressure on prices through competition between energy companies, but were not working as planned, Bowen told the Australian Energy Week conference in Melbourne. Bowen flagged reforms to the Australian Energy Regulator's price-setting mechanism for NSW, South Australia and Queensland to better align with Victoria's rules.
