Money Saving Tip Reminder: Review Your Statements

A while back, I suggested that a great way to save money was to check your bank's math and that you should also balance your checkbook. Basically, you need to reconcile all your financial statements when they arrive. This is because banks, credit card companies, stores, utility companies, etc. do make mistakes and if you simply take their word for it, you're bound to lose money at some point.

I was reminded of this point recently when I reviewed our credit card bill. I found a double charge for $32 from a bookstore. Same amount on the same night. I knew it was a mistake. The next day, my wife called the store and they said "yeah, that happens every once in awhile, just call your card company and when they check it out we'll ok removing one of the charges." Needless to say, if I had simply paid the credit card bill and not reviewed it, I would have been $32 poorer. Hence I wanted to remind you of this tip once again. It's a basic one, but a goodie.

Comments

[Harrison Loke]

"yeah, that happens every once in awhile, just call your card company and when they check it out we'll ok removing one of the charges."

I just feel that this statement is having some kind of "unresponsible" feel. hmm, that happens every once in a while?! So this not fair to those who don't check their credit card statement.

[FMF]

Tell me about it! That's why I'm glad I checked. That said, we shop there a lot and this is the first time it's happened.