basic financial planning #12: A couple of minutes very well spent.

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Blog entry by BigTiny posted 05-18-2011 06:43 AM 5259 reads 0 times favorited 3 comments Add to Favorites Watch
« Part 11: Retirement planning and timing. Part 12 of basic financial planning series no next part

How many of you just check the total and write a check when you get your credit card bills?


I told all my clients to go over their receipts and check them against the bill every month.

Extreme example but true:

I had a client who took my advice and went over his bills. No receipts, but few enough entries that he could remember what each charge was for. All that us except one. It was a charge for about $50 and it was from a company he didn’t know. It wasn’t listed in his local phone book either. He spotted the same charge again the next month, so he called the credit card company. After some checking, it turned out this was the parent company of a health club/gym that he had joined on a month by month basis.


He had attended on and off for a few months, them just stopped going.

He’d been paying for a membership he wasn’t using for more than ten years at a cost of over $600 per year, for a total wasted of more than six thousand dollars!

Please people, keep your receipts and take the time to check them against your bill. If someone is making false purchases on your card and you don;t spot it for several months, you could be held responsible for anything more than the current month.

It takes only a couple of minutes and can save you a bundle.

After all, it’s your money!

Have a great day and a better tomorrow.


-- The nicer the nice, the higher the price!

3 comments so far

View Moron's profile


5032 posts in 3893 days

#1 posted 05-18-2011 08:19 AM

just b4 the fat bastard popped….......aka world economic meltdown hit the #@itfan

i told every one to buy bullion

and they said “bogus”

it was trading at 300/oz

its far exceeded my expectations of 900 $$$ an oz and might peak at 2K


trust me, I often tell my clients

-- "Good artists borrow, great artists steal”…..Picasso

View MsDebbieP's profile


18615 posts in 4160 days

#2 posted 05-18-2011 11:45 AM

Good advice.

-- ~ Debbie, Canada (

View BigTiny's profile


1676 posts in 2888 days

#3 posted 05-19-2011 11:18 AM

I had much the same thing happen to me with the guy who got me started in financial planning 35 years ago. He told me to hock my soul and buy gold. It was under $40 an ounce then. He bought 2,000 ounces by mortgaging his home. I thought he was nuts and ignored him because gold had been stable for many years.

Six months or so later, when it topped $700 an ounce, he sold half of his and paid off his home and all his debts and pocketed a nice profit to boot. Plus, he still had the other 1,000 ounces left!

The fun part was, he did it all tax free! Legally! I won’t go into how, but it was what got me interested in my future profession.

-- The nicer the nice, the higher the price!

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