Just when you thought you were actually frugal, something completely ridiculous happens to you that makes you think otherwise.
I signed up for this introductory online program for my business (I won’t reveal its name as I am still hoping they come through for me). They gave me $100 in credit for what I thought was me trying it out and giving them feedback. Little did I know the default was set to $25/day usage, unless I went in and changed it. I clearly didn’t realize this and, in logging in yesterday, saw that my account was charged $500. Sorry, I mean $400 because I did have the $100 credit. Insert sarcastic yippee here.
I immediately canceled it and wrote to their customer service to let them know that this wasn’t completely clear/obvious in the setup. They won’t ever see any more of my money so I hope they enjoy the $400.
So coming up with extra money this month is one thing but worse is I feel kind of stupid. Why didn’t I notice that money leak, and why didn’t I plug it sooner? I had signed up for email notifications from the company but clearly, part of their communication strategy is not letting you know when your credit has been used up. The moral: It’s not enough to rely on the company that wants your money to keep track of your spending.
Then I was talking to a friend who told me that, in signing up for a new cell phone plan last year, the rate was supposed to decrease from $90/month to $60/month after the first three months. She didn’t notice and they continued to charge her for $90/month. She just noticed this past week.
It makes me wonder what other money is leaking out of my budget so I’m combing my bank statements, making sure I completely understand every charge.
It would seem to me the best way to prevent these money losses is to examine bank statements regularly to make sure all charges are understood.
How often do you look at your statements, Almost Frugal friends? And have you plugged any money leaks recently?