Why Chicago Credit Card Users Should Keep Close Tabs on Credit Statements
You know you need to keep an eye on how much money you're spending, but it's also important to check up on what you've spent. Why? Because those numbers might not add up.
Recently the Federal Trade Commission disrupted a massive credit card scam that allowed a ring of criminals to steal millions of dollars from right under the noses of millions of unsuspecting consumers for four years. The thievery might have ended sooner, except for the fact that most victims didn't even realize they were losing money. That's because the scammers were stealing it pennies at a time.
25 cents here and 50 cents there might not seem like much, but when too much debt has you struggling to make ends meet and living paycheck to paycheck, you shouldn't have to give up a cent of your hard-earned dollars.
So what's the solution? Simple. Keep your eyes open. Read through those credit card statements with a fine-toothed comb every month. File them away so that, if you notice something suspicious, you can see if it's new or recurring. And when you do find something weird, don't hesitate to call your credit card company.
Staying aware of your finances pays off in a number of ways. Obviously, it will help you stop criminal activity and protect your paycheck. But it also makes you more aware of how much you're spending on a regular basis. You'll see what charges are necessary, and what ones aren't. You might notice patterns - for instance, maybe you tend to eat out a lot on Fridays or hit up the local Starbucks more frequently when the weather turns hot. All of this information can be helpful in brainstorming ways to save money or create a budget.
Seeing is believing, and sometimes having a physical record of how much money you're spending each month can act as a wake-up call. Sometimes, though, you can become so overwhelmed by debt that a budget isn't enough to put you back in control of your finances. That's when bankruptcy comes in handy. Want to learn how bankruptcy can help you take control of your debt, freeing up more of your paycheck? Maybe it's time you tried a free one-on-one debt analysis with a Chicago bankruptcy attorney. Whether it's a scammer or simply your creditor, it's time to stop giving your earnings away.