I am sure at some point and time, you have entered into documented agreements or contracts in order to get what you need. Sometimes when your time is limited, you don't really read everything and you scan through these documents and sign.
This is when things can get a little more complicated. Because you have not thoroughly read each page of the signed documents, you are not fully aware of what you have committed yourself. When do you usually find out about these skipped over details? When your monthly payments are much higher than you expected them to be.
Now you could call the businesses you have the agreements with to get a better understanding of exactly everything you are paying for. You can fuss and argue if you want, but that is not going to change the fact that you signed the dotted line.
The best way to proceed with this situation is to call up the businesses and talk with someone. Ask questions about any fees that you are not familiar with. Find out if there is a way you can reduce the amount of the fees or if there is a way you can opt out of certain parts of the agreements.
Once you have a better understanding of what your full costs will be, make sure you set aside some time to take your time and read each agreement or contract. Anything that you see that you do not fully understand, make a call, and ask questions. It's better to know exactly what you have signed up for.
When we enter into agreements without fully understanding what the total costs are, in many instances, this can lead to us paying more money and eventually, losing hundreds or thousands of dollars.
In this day and time, many are living on a very limited budget and the days of just spending to be spending are basically over (at least for now). Many are watching how much they spend and what they are spending their money on. That also includes the agreements and contracts that they enter into.
I believe that when it comes to what you are paying for, you should read it first, understand what you have read, and then make your decision based on the information you have gained. Examples of such agreements are as follows:
- Rental Agreements
- Cell Phone Contracts
- Subscriptions
- Memberships
- Contracts For Services
- Loans
- Credit Cards
Any type of agreement that requires you to part with your "hard-earned-dollars", should be in writing. It must include what the payments are, the amount of taxes included, the duration of the agreement or contract, and all other fees (if any) that are related to the product or service you need. This way you will know what your total costs are.
Another Factor To Think About:
In my opinion, I think that when it comes to making monthly payments, you should consider how long the agreement is for. You need to know ahead of time what your overall cost is going to be before you sign on that dotted line.
I understand that everyone cannot afford to pay full price in one lump sum, at one time. Some may choose to pay for what they want, over a specified amount of time. In that case, you want to make sure that the monthly payments are affordable for you, and you want to make sure that the period of time (example: 6 months, 12, months, 24 months, 36 months) to make the payments, works for you.
You can pay for just about anything through monthly payment plans. Some of these items you can purchase this way can include:
- Furnishings
- Appliances
- Vehicles
- Electronics
- Clothing
- Computers
- Tractors and or anything that can be paid on a monthly basis.
Instead of settling for the first offer that sounds good, do a comparison between a few companies so you will know personally, which offer suits you best.
While you are comparing offers for monthly payments, make sure you add up those payments and see how much of a difference it is between the amounts. Which cost looks more affordable to you?
Paying for purchases over a period of time can sometimes cost you more than paying one lump sum. That still does not mean you have to go for the existing offer. Give yourself the best option by comparing prices and by choosing the best deal.
Until Next Time. Enjoy Loving and Living Your Life.