Your money matters: be sure to check bank statements

Published:
06:00 6 October 2022



It can be tempting to avoid looking at your bank account in detail.

After all, you pretty much know what’s coming in, pretty much what’s going out, and you can check your balance quickly and easily just by tapping an app on your phone or watch, or by swiping your card in the ATM. tickets.

The danger is that even if you think you’re on top of your money, you might miss some of the clever stealth tactics companies use to get your money out of your account, without you really paying attention.

It’s not just about scams or tricking you into giving out your bank details, these tactics are perfectly legitimate and incredibly popular…and can be very expensive if you don’t keep your eyes peeled and your financial intelligence about you.

Accessing TV, radio, educational and entertaining video content, online versions of our favorite broadsheets and more is easier than ever. We’re now just as likely to watch our favorite TV series on an app on our phone or tablet when we’re on the go, as we are on our TV in the living room with the family.

And we’re very used to clicking on pop-ups that ask if we accept cookies or notifications before we get access to anything we want to watch, read or listen to.

But we’re also increasingly being asked whether we want three months of ad-free viewing of our TV channel of choice, or 30 days of the “premium” version of our favorite music streaming app.

Or how about signing up for full online access to a broadsheet magazine or newspaper at a trial price of, say, £1 per month, rising after 3 months to £12 or £15 per month ?

Online stores tempt us with VIP delivery options for an additional annual fee, which often does not give us better or faster service than standard delivery.


Kim Uzzell, Norfolk-based money coach of mymoneymovement.co.uk
– Credit: @Valentinestudio

It’s easy to click to accept these offers, without really paying attention to them, and for the first few months you’ll notice very little difference in your bank balance, but if you don’t watch them, you may find that you’ve inadvertently subscribed to commercial-free TV, premium delivery, or a subscription to a newspaper you probably won’t read regularly.

The costs add up, they go unnoticed, but they can add up to significant sums that you could put to better use elsewhere.

So, don’t just check your balance, check what you’re actually spending, so you can undo anything that has popped up on the sly!

For more from Norfolk-based financial expert Kim Uzzell, visit mymoneymovement.co.uk or follow her on Instagram @kimuzzellmoneycoach.


EDP ​​Your Money Matters

The EDP launched the Your Money Matters campaign
– Credit: Archant

YOUR MONEY COUNTS

If you are looking for financial help and advice, here are some of the resources you can turn to locally.

Advice to citizens of Norfolk
Offers free, confidential and unbiased advice on debt, benefits and money issues.
0800 1448 848
ncab.org.uk

Financial support service
Norfolk County Council service for those who need help with budgeting.
01603 223392 (option 4)
norfolk.gov.uk

Norfolk Community Action
Charitable aid offering warm homes and a collective oil purchase program.
01362 698216
communityactionnorfolk.org.uk

Norfolk Community Foundation
Charity that runs programs including Feed Norfolk and Community Shops.
01603 623958
norfolkfoundation.com

Norfolk Assistance Scheme (NAS)
Helps people in financial difficulty and unable to pay their living expenses.
0344 8008020
norfolk.gov.uk

The Trussell Trust
Free “Help through Hardship” helpline and food bank finder.
0808 208 2138
trusseltrust.org