summit-bracket2 bracket2 atm-outline location-pin-outline location-pin-filled atm-filled calendar2 bracket google-play[2] app-store summit-location-pin-lg code lock user worksheets phone print programs open pdf checkmark-form close-x close download checkmark-chart checklists blog-tools social-facebook social-google-plus social-pinterest social-twitter social-youtube ehl calendar calculators bracket22 checkmark email text-area-corner external-link success error information warning calendar-add-event auto-rates mortgage-rates home-equity new-certificates ncua summit-logo-itmoi arrow-left arrow-right checkmark2 summit-logo-white summit-bracket silhouette arrow-down arrow-up auto-rates2 blog calculators2 call ehl2 home-equity2 itmoi locate mortgage-rates2 new-certificates2 programs2 search summit-location-pin-sm tools clock
who Will win $10,000?
Join our participants as they reduce debt and increase savings with the help of Summit financial coaches.
TOTAL SAVINGS INCREASE: $23,696 | TOTAL DEBT REDUCTION: $26,698

Moriah and Terrance's Journey:

Our $120 mistake!

  

So this Project Money process has taught us many things about how we manage our finances. And we have experienced a lot of success so far. But we feel it's important to share our not so successful moments as well. It's easy to get to miss things when you’re riding a wave of positive momentum. 

 

I present to you Exhibit "I", as in I-pass. We recently took a trip to Chicago and forgot to put our I-pass in the car. We thought this would be fine since our car license plates were registered to our account. So of course we took the I-pass lanes all the way there and back! When we met with our financial coach, and started lining up all our accounts, we found an unplanned, unpleasant bill for $120! What happened? Our I-pass was connected to a credit card that automatically recharged our account so we knew there was money in there. Well, we had purchased a new car and didn't think to update the license plate.

 

The lesson here: Make SURE all your accounts are up to date. Even the accounts you don't use frequently or that are on automatic renewals. 

 

Paying bills is not fun, but a necessary evil. Take the time to manage them properly so that the bill is ALL you have to pay. $120. So many better uses for that. 

  


Comments

Add new comment