In these economic times balancing a budget can be tough. Fortunately, even small measures can prove fruitful in the long run. Checking your credit card bills before you pay them, for example, can save you money, and easily — it only takes a few minutes to do, too. Even for those of you not worrying about your next paycheck, a quick review of your bills is still a smart financial move, and an excellent habit to keep. Here below are a few ways in which this easy practice can save you money. (Tips courtesy of the SaveMoneyBlog.)
Duplicate Charges. As much as we’d like to think technology would protect us from a double charge, it still happens. Whether by human error, equipment failure, or even malicious intent, double charges are known to appear on your bills from time to time. Some banks and credit unions check for these, but even still it’s possible for one or two to get by — trust me, they appear more than you might think. So be sure to check your credit card bills (or other bills) and flag any duplicate charges and alert your credit card company or bank.
Charges You Didn’t Make. Credit card fraud happens. In most cases your bank will take of you, fortunately, however, the bank may not always be aware of an unauthorized purchase, and unless you check yourself, you may find yourself unwittingly out of money. To protect yourself, just take a minute to scan your credit card bill for any purchase that looks strange or out of place.
Charges That Don’t Match Your Receipt. Often an honest mistake, it can still prove costly if you’re not paying attention. While it does take a little more effort to keep on top of this one — you have to keep your receipts and then check them against your bill — it is still a worthwhile practice for those looking to keep a balance budget.
Anytime you do find a mistake, honest or not, it is up to you to make the next move. In the United States all cardholders have up to 60 days from when they receive their statement to notify their credit card company. Your credit company then has to pay you back, or prove that the payment was authorized and legitimate within two payment cycles.
For more money saving tips, check our sister blog Smart Payment Plan Review or our parent site Smart Payment Plan.
