I know it’s such a drag right? But all too often, those who don’t, end up with a problem.
It can be as simple as small online purchases, where one has the impression the product does something but hidden in the fine print are certain exclusions. Has anyone bought some of those cord winders for earbuds? They are all the rage if you see the advertising, BUT…. They don’t work for cords with volume controls! Now I was tempted, but took my time and as I read through I thought, darn I don’t own any earbuds that lack the volume control! Do you?
That is the simple end of things, and while it can waste our money, some scrolling time and frustrate us there are far greater challenges and losses to be made if we don’t bother to check those sentences in grey scale or tiny font.
Start with checking your utilities accounts, or emails, hidden in plain view you will frequently find a phrase akin to “we reserve the right to change the charging rate at our discretion” what a wonderful string of words if you are the company, and what hit to the hip pocket for the consumer. We change companies, and the new mob offer us a deal so much better than the last one, then it starts, gradually the cost creeps up over the year or more that we are on contract.
We oddly assume that the prices are rising everywhere, and that is what the media tells us, however are they rising at the same rate as our bills? Frequently not. So what do we do about that? I suggest that you review your providers every year (most contracts are for a year) and be prepared to play providers against each other. Set aside a day a year to reset all of your utilities and see how much of your own money you can hang onto.
Those are still small issues when you are in business, the big ones to check are bank agreements, particularly if you have an Overdraft account! In many situations these are a necessary evil, they offer short term access to funds when perhaps a large client or contractor has not paid their account. However certain forms of banking accounts carry clauses that give the banking institution the right to “call in” the overdraft and frequently “all other accounts” at their discretion.
These clauses have in the past often been used by institutions to call in agricultural accounts in the event of drought and other natural disasters. Some will recall news stories of such events in earlier years.
Now while there has been an overhaul of financial institution rules and conduct, it is extremely common for people to flip through the pages of a contract and sign where requested, these contracts are long and laborious, that is what they “bank” on, so take the time and make them wait. If any terms or clauses confuse you or need clarification, ask for it, they are paid to inform you effectively.
Some will joke that it is “in the fine print” but when it is you paying the price, it isn’t a joke that you will appreciate.
Enjoy the increased reading load and make it worthwhile.
Luv
