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When you’re trying to save money and improve your finances, you probably start cutting down on non-essential spending and canceling those subscriptions you use, and things like that. How many of you, though look at sources of lost income?
Most people do not realize that there is a lot of what could potentially be their money floating around out there waiting to be claimed, and maybe you could be owed some!
With that in mind, let’s take a look at some of the most common sources of lost money that you could be owed right now:
Bank errors
It is not uncommon for banks, credit card companies, insurers, and so on to make errors and overcharge you or charge you for something you did not purchase. That is why it is always worth going over old bank statements and financial documents to check if you are not owed anything at all.
Old subscriptions
It is not uncommon, these days, for many people to have lots of subscription payments going out of their accounts for which they never use and in many cases, that they do not even realize they are still paying for. However those few dollars each month soon add up and by auditing your bank account and canceling them, you can effectively reclaim that lost money and start saving again.
Insurance payouts
Insurance is a common source of lost money. Whether you have not applied for insured claims when you could have done, or whether it is an old insurance policy you have lost, forgotten about, and could potentially cash out. There are various tools online you can use to find and claim old insurance policies, so if you think this might apply to you, be sure to do just that.
The IRS
It’s important that you pay your taxes, but often people end up paying more than they needed to and when that happens, you might find yourself in the position of having the IRS owe you money. You can get a refund here. So be sure to check if you are eligible to reclaim any of your money now.
Pensions
Many people start paying into pension pots and their 401(k(s) only to move jobs, let the policy lapse, and eventually forget about it. If this is the case, you could track those old retirement funds down and claim them as your own, which could be a significant boost to your family finances.
Credit cards rewards
Credit card rewards might not be in cash, but you can use them to save you money, and many people are owed a bunch of them. Log on, see if you have built up any rewards, and claim them right now for a nice boost to your money situation.
As you can see, the idea that you could be owed some “lost” money is not too out there at all so why not check and see if there is anything you could claim back right now?
