Here’s a great way to keep your budget in check. Karina Barrymore of the Herald Sun outlines the most common sources of budget catastrophes – and it does include things we most often avoid. It is strongly advised that we go through our bills and tackle these financial challenges head on.

Credit cards and bank accounts are two of the most common sources of these financial mishaps, as incorrect and fraudulent charges are often a culprit. It is strongly encouraged to double check repayments and remittances are reflecting on your account on a religious basis, to avoid confusion in the future. Bills are another one of those, as it can also contain discrepancies and keeping this in check will ensure that you don’t incur any additional fees for nonpayment, coupled with the inconvenience of a possible disconnection of service. Home loans, although an automated process is also prone to errors. Make sure that the appropriate payment scheme is applied. Possibly the most important bill is your Superannuation statement. Check this annually and make sure that these are properly remitted by your employer.

Ensuring that errors are corrected firsthand can save you thousands of dollars especially if these bills are setup to secure your future.

Read more about this on the Herald Sun website.