9. Annual Subscriptions
The last entry of our list is annual subscriptions. Most people regret them mainly because even those with an excellent memory forget about them. No matter how organized you are, there’s a high probability you won’t remember the due date of your annual subscriptions.
And guess what happens when you forget about them….they auto-renew! This means that the retailer or the company will automatically charge you from your bank account a certain amount of money. So, it’s probably a good idea to stay away from putting annual subscriptions on autopay. It’s not worth it.
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I would add insurance bills: I had been automatically renewed each year, then one year they didn’t renew me and I didn’t know till I called for a tow truck. I remember I had planned to call them to ask them to send a new card but unexpected life events can get you distracted. Thankfully, I didn’t find out by having an accident. Unfortunately, they charge you more when you’ve had a lapse, even if it’s partially their fault.
Be aware of flat rate cell phone services. The plan I’m on is a no contract monthly plan but hidden in the fine print is the fact that a month consists of 30 days. The bill payment does not pay out on the same date every month when there is 31 days in a month.