What you don’t know can hurt you!

Hey everyone, I want to share a story that still makes me cringe, but hopefully, it’ll save someone else from making the same mistake. I recently learned a really tough lesson about why it’s so important to actually check your bank statements and account balances.

Like many of us, I’m busy. So, when I set up auto-pay for my internet bill, I figured I was golden. Confirmation email? Check. Feeling of accomplishment? Double-check. After that, I basically just assumed everything was fine. I swiped my card for other things, withdrew cash from the ATM, and if those transactions went through, I just figured my financial world was in perfect order. I never logged into my online banking, never looked at a statement, and just trusted that because I’d set up the auto-pay, the payments were happening.

Then, one evening, my internet suddenly cut out. No warning, just… gone. I was baffled. How could this be? I called the internet provider, ready to complain, and that’s when the truth hit me like a ton of bricks. My payments hadn’t been going through for months. Apparently, there had been some glitch when I set it up, or maybe an old card expired and I missed the notification. Whatever the reason, the auto-pay failed.

And because I wasn’t checking my bank statements, I never saw that those payments weren’t happening. I never noticed my balance wasn’t reflecting those withdrawals. I was living in a bubble of assumption, and it cost me. Not only was my essential service disconnected, but I also ended up with a pile of late fees.

It was a huge wake-up call. I realized that “auto-pay” doesn’t mean “auto-verify.” My trust in the system wasn’t enough; I needed to be an active participant in my own finances.

What I Learned (and Why You Should Too):

• Believing Isn’t Knowing: Just because you think a payment went through, or an auto-pay is working, doesn’t mean it is.

• Your Bank Statement is Your Report Card: It shows you exactly where your money is going (or not going!). Look at it regularly.

• Check Your Balance Often: Don’t just rely on what you think you have. A quick look at your online banking or banking app can prevent huge headaches.

• Catch Errors Early: Whether it’s a forgotten payment, a fraudulent charge, or a simple mistake, you can only fix it if you know about it.

Don’t wait for a crisis like mine to force you into action. Take a few minutes each week to review your bank activity. It’s a small habit that can save you a lot of stress, money, and embarrassment. Trust me on this one!