Another real-world example of being careful with your money. I keep getting free offers for stock information, and like a sucker, I keep thinking this is the one that is going to give me the “drop dead” stock tip I hope for (yes, I should know better, but I have this dream of money raining down on me for no good reason).
The Motley Fool sent me one of those free offers (now, this is not a shot at our amigos at the Fool; they do a good job, just an example of what you get yourself into if you aren’t diligent). I signed up for their “hidden gems” newsletter for two months for free. However, I had to give them my credit card. I thought I had cancelled this newsletter in PLENTY of time, but my credit card statement appeared, and there was a $200 (US) charge on it from the Motley Fool!
Now, I had “foolishly” (pardon the bad pun) sent my cancellation e-mail to the wrong place, and after two phone calls, all was cleared up, but it showed me you have to be careful with this kind of stuff. If you give someone your credit card number:
ASSUME THEY WILL USE IT!
This has happen to me with a different product, but good advice. Assume they will use what you give them.
I have taken the position to not give it anymore and just walk away from the free bloody offer.
Standing instructions have this biggest drawback. Even after cancellation, you have to ensure that it is cancelled, which you will come to know only when your next statment arrive!!