If you had asked me a month ago if I was paying for anything by direct debit that I did not need, I would have sworn that I had everything under control. I was wrong.
Today, I discovered that I have been paying £45 / year for a Breakdown Insurance (extended warranty) on an Audio System. Generally, I see these extended warranties as a waste of money. In this case, I could buy a whole new hifi every few years rather than keep paying this insurance. My error here was that I had made the mistake of binning the renewal notices whenever they came through the post. It turns out they atomically renew unless you cancel. There is no point in worrying about past mistakes. I have phoned the insurance company to cancel. I have also cancelled the direct debit with my bank. That’s £45 / year saved.
The other week I discovered that I was paying some £7.75 a month subscription to an internet service that I was not using any more. I had originally signed up for a free trial, as I actually needed the service for a few weeks. I am convinced that I cancelled before the trial period ended. When I discovered the error I contacted the company immediately. They say that they had no record of my cancellation. Of course, I can prove nothing. My mistake here was not checking that the direct debit was cancelled. I have now both cancelled the service and the direct debit. That’s another £93 / year saved.
What is the moral of this tale? Check your direct debits. Check them now. Check them regularly.
Your comments are welcome.