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How Ignoring Your Credit Card Statement Could Cost You $1,000+
When was the last time you actually read your credit card statement line by line? If your answer is “I don’t remember,” you’re not alone—but you could be losing money without even realizing it.
According to a Lending Tree survey, 1 in 4 credit cardholders don’t review their statements every month. That’s 25% of people potentially overlooking fraud, billing errors, or forgotten subscriptions—month after month. Let’s break down how this simple oversight can turn into hundreds or even thousands of wasted dollars, using real-life examples that are surprisingly common.
The Energy Drink Delivery That Wouldn’t Stop
While helping my friends Abbey and Victor move, I noticed a mountain of unopened Celsius Energy drinks in their “free stuff” pile. Curious, I asked where it came from. It turns out the previous tenant of their rental had a subscription set up on Amazon—and never canceled it when they moved out.
For nine months, Abbey and Victor received a case every two weeks. That’s 18 cases, totaling over $400 worth of drinks, delivered automatically and paid for by someone who probably never realized the charges were ongoing. Even worse, they couldn’t cancel the subscription without the original account holder’s information.
The Mystery Gas Bill I Never Paid
As a real estate agent, I always tell clients to transfer utilities before moving into a new home. Naturally, I assumed I did that when I bought my house. But two years later, I searched for my gas bill and came up empty.
After contacting the utility company, I learned that the account wasn’t even in my name. It was still under the previous owner’s son-in-law, who had been unknowingly paying my gas bill for two years. Due to privacy policies, the gas company wouldn’t tell me how much he paid—and I couldn’t reimburse him.
Given that winter bills in my area often hit $300, I estimate this mistake cost someone at least $1,000. All because I didn’t double-check the account details when I moved in.
How Fraud Can Start Small—and Stay Hidden
Just last month, I found two small charges on my credit card statement that I didn’t recognize. They were both under $20—nothing major, but enough to raise a red flag.
After a quick call to my credit card company, we determined the charges were likely fraudulent test transactions. Scammers often start with small amounts to see if a card is active before attempting larger purchases. Because I caught it early, my account was shut down and replaced before any real damage could be done.
Five Minutes a Month Can Save You a Fortune
The common thread in all these stories? They could’ve been avoided by simply reviewing a statement. Checking your credit card and utility bills doesn’t take long—but the consequences of skipping it can snowball fast.
Here’s how to make it easy:
- Set a monthly reminder to review your credit card statement
- Don’t recognize a charge? Call your issuer immediately
- Look for recurring charges from subscriptions or services you forgot about
- Double-check utilities when you move or set up a new account
A Simple Habit Worth Building
If you’re among the 25% of people who don’t read their credit card statements, now’s the time to change that. Start by reviewing your next bill. Put it on your calendar. Make it part of your routine.
It’s a five-minute habit that could save you hundreds—or even thousands—of dollars a year.
In the previous post: “Is Now a Better Time to Invest in Real Estate Debt or Equity?“
How Ignoring Your Credit Card Statement Could Cost You $1,000+
Has the U.S. Housing Market Finally Begun to Thaw After the Pandemic?
It seems like the housing market might be showing signs of life. According to a recent report from Redfin, pending home sales in early October have seen their largest year-over-year rise since 2021, with a 2% increase in the four weeks ending October 6.
This news is likely to be welcomed by real estate investors who have felt the market has offered limited opportunities over the past few years. However, it’s important to take a cautious approach—one promising statistic doesn’t necessarily indicate a broader trend.
Is the Housing Market Truly Recovering?
Let’s explore the different factors at play.
Interest Rate Reductions: A Critical Factor or a Red Herring?
The Redfin report links the surge in pending sales to the Federal Reserve’s much-anticipated rate cut announcement in mid-September. According to Redfin, this announcement prompted buyers to re-enter the market in late September, despite mortgage rates having already been falling for weeks before the cut.
This psychological boost is crucial. Although buyers were aware of the falling rates beforehand, many seemed to be waiting for a formal signal to act. This could be attributed to a lingering fixation on the ultra-low rates of 3% to 4% that buyers enjoyed before 2022.
Any rate cut announcement serves as a nudge for prospective buyers, making them feel that now might be the right time to purchase, even if mortgage rates had been decreasing already. In an unstable mortgage market, such announcements hold significant influence.
However, mortgage rates are just one piece of the puzzle when analyzing housing market performance. As noted by Investopedia, the real estate market is driven by four primary factors: interest rates, demographics, economic conditions, and government policies.
Demographics: Shaping the Market
During the pandemic, demographic shifts had a profound effect on U.S. real estate, with major population movements like the Sunbelt migration fueling booms in cities such as Phoenix and Austin, which later became unaffordable for many.
Age is another key demographic factor, and the millennial generation’s pent-up demand continues to be a driving force behind the rise in home purchases. Despite the challenges of the past few years, millennials who have longed to become homeowners are now entering the market in greater numbers, as more properties become available.
Rising Inventory: A Sign of Stabilization
A key factor contributing to the market’s stabilization is the growth of housing inventory over the last year. The pandemic had a significant impact on the availability of homes, with sellers hesitant to list properties due to COVID-19 restrictions and, later, higher mortgage rates.
Some homeowners, particularly those upgrading to larger homes, found it financially challenging to sell and take on higher mortgages. Others, however, simply chose to wait for a more favorable market.
Although the latest Realtor.com report shows that inventory remains down by 23.2% compared to pre-pandemic levels, we are seeing an upward trend. For instance, new listings have been rising since last year, with a 5.7% year-over-year increase for the four weeks ending October 6.
As of September 2024, some states have even surpassed their pre-pandemic inventory levels, including Tennessee, Texas, and Idaho, with others, like Washington, close behind.
Vulnerabilities in Certain Regions
However, not all regions are showing positive signs. For example, some areas, particularly those affected by extreme weather, have seen inventory spikes not because of market recovery, but due to homeowners trying to offload damaged properties they can’t afford to repair.
For instance, regions like Florida and North Carolina, hit by hurricanes, have experienced increases in home listings, but these may reflect a response to climate-related challenges rather than market health.
Opportunities for Investors
Investors should be discerning when choosing markets, focusing on regions where inventory is growing due to increased home construction rather than climate-related distress. States like Idaho, Utah, North Carolina, and Texas, which are building new homes, offer potential, though caution is needed in areas prone to natural disasters.
The Midwest and Northeast, meanwhile, still face significant challenges in recovering to normal market conditions. These regions have lower rates of new construction, meaning inventory remains scarce, which could present both opportunities and difficulties for investors.
The Bottom Line
The U.S. housing market is showing signs of recovery, but the situation remains complex and varies by region. Interest rates play an essential role in unlocking the market, but investors should also consider other critical factors, such as homebuilding trends, climate risks, and government policies. While the market is heading in the right direction, it’s crucial to examine regional differences carefully before making investment decisions.
In the previous post: “Is Now a Better Time to Invest in Real Estate Debt or Equity?“