Not paying attention to your bills and statements could cost you hundreds of dollars a month. Charges that you are paying unnecessarily need to be identified and plugged to protect your budget.
The Herald Sun shared some tips to help you prevent your money disappearing into a budget black hole:
Debit and credit cards
Scammers skim millions of dollars from bank accounts each year. It is essential to check that your account is not being charged unnecessarily. Glancing at your statement will also help you to keep track of your spending habits.
Bills and invoices
People and large corporations often make mistakes and they will often be at your expense. Make sure you check all of the charges are accurate. Monitoring your phone and utility bill will also reveal any patterns that lead to high charges to your account.
Home loans
There are sometimes mistakes in calculating charges when interest rates change and this can be costly. Be sure to check you are paying the right amount for your home loan.
Superannuation
This is the most important statement to check. Over the years even a small mistake can potentially cost you thousands of dollars because of the cumulative nature of the interest.
