Why Being Forgetful Could Cost You a Fortune

We are all forgetful from time to time. It’s annoying, but that’s life.

16:30 16 May 2017

In many cases, the problem is caused by trying to do too many things at once. When you have kids to organize, a job to do, and a million and one items on your to-do list, it is hardly surprising that you end up forgetting to attend a routine dental appointment or pay the gas bill.

Most of the time, a minor lapse of memory is irritating but not the end of the world. However, in some cases, being forgetful could actually cost you a lot of money. Here are some examples of why playing memory boosting games on your smartphone should be your top priority.

Passport Renewal

Passports last for 10 years unless it’s a child’s passport, which expires after five years. Because passports last for so long, it is easy to forget to renew them. If you are taking a vacation in the US, this won’t be a problem, but if you have booked a dream vacation overseas, you will need to have a minimum of six months left on your passport.

Imagine turning up at the airport, only to discover that your passport has expired. Re-booking flights and making new travel arrangements will cost a fortune, so always check your family’s passports before you book an overseas trip.

 

Auto Insurance

Many insurance companies offer an automatic renewal service, but this can be expensive. You may be tempted to opt out and do your own insurance research in Michigan before you need a new policy, but forgetting to renew at all is a massive – and expensive – mistake.

Driving around uninsured could cost you your drivers’ license and you might end up being sued if you cause an accident. Auto insurance protects you from third-party claims and keeps you legal at all times. Don’t rely on your memory to remind you when it is time to renew your auto insurance – program a reminder into your smartphone and start looking for a new policy before the old one expires.

 

 

Loan Refinance

Loans are a quick and easy way to pay for expensive items such as cars, vacations, kitchens, and cosmetic surgery. However, although it is very easy to apply for a loan, the costs soon add up. It is tempting to forget about a loan or home finance arrangement. After all, as long as we make the repayments on time, who cares?

Well, you should care, as forgetting to check the details from time to time could cause you to pay far more than you need to. Interest rates vary, so make a habit of checking your loan accounts at least once a year. Refinancing with a cheaper provider could save you serious cash.

 

 

Forgetting to Pay the Bills

Forgetting to pay the bills leads to late payment fees and nasty black marks on your credit report. If your memory is bad, set up automatic payments so you never incur fees or pay extra interest on a bill. 

 

Memory problems are common, particularly as we age, but if your memory is really bad, make an appointment to see your doctor for a check-up.