GREENSBORO, NC -- You'd think you'd know if someone was taking money right out of your hands, but Certified Financial Planner Matt Logan says there's a good chance it's happening to you right now!
“A lot of people will set up their automated payments and they don't even realize they're still going out. It could be a service you used to pay for and enjoy but now you never use. And the way it's set up, it come and go out from your bank account for ever and ever.”
These automatic recurring payments are often called gray charges. Maybe you signed up for an introductory product that was free for a trial period: think Apple's 3 month free music trial, a magazine subscription or food delivery service.
Before you know it, the paid subscription kicks in. So, what can you do?
You can put a reminder in your phone for the expiration dates or Get this app-- called Trim. It cancels subscriptions and can even negotiate your cable or phone bill. It's free.