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Deceptive Bill Charges

Written by: Lisa Castle, CFP®

Did you know that only one in 10 people examine every transaction on statements received!  I will admit, I am guilty of this.  Here are a few items to watch out for:

  1. Free trials that turn into paid subscriptions.  Keep tabs on those and be sure to cancel in time, or your free or bargain deal, just lost it’s appeal.
  2. Hidden checkout subscriptions.  Sometimes when you are shopping on-line, the retailer will strategically place a box already checked asking you to subscribe to a related magazine.  Be cautious at your checkout!
  3. Automatic renewals that you have forgotten you signed up for, say for instance your gym membership that you aren’t using or a magazine subscription.  Keep track of those and try to avoid signing up for them if you in fact do not want them automatically renewed.
  4. Even if you have canceled a subscription, be sure to continually check your statement as sometimes months alter a “zombie” subscription will appear and if you do not catch it right away, you will be pulled right back into their cycle.
  5. Watch your monthly service charges.  Small increases add up so be sure to continue to monitor your accounts to be sure you are getting the best deal.

http://finance.yahoo.com/news/top-6-deceptive-bill-charges-145136376.html

 
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