Stretch Your Dollar: Reading the fine print for terms of agreement contracts

Stretch Your Dollar

(WTNH) — Most of us have done it- just blindly accepting the terms of agreement when you do something like book a flight or buy a new cell phone. We’re stretching your dollar with a look at how you’re signing your rights away when you don’t read the fine print.

Not so fast! We are all busy, but it’s important to give yourself an opportunity to protect yourself by taking an extra 30 seconds to read the fine print.

Whenever you open an app, bank account, or even log onto a website, there are several pages of hard-to-understand legal jargon. But when you blindly accept those terms, you could be giving up your day in court.

Forced arbitration is common in contracts, which means customers often can’t sue a company in court. You could be giving up your privacy. Sometimes, just by using or logging on to a website means you agree to a company’s terms and conditions. Many times that means your habits on the site and your data can be used or resold.

If you don’t read the fine print when opening or changing a bank account, you may not know how much you really owe. Last year, the country’s biggest banks brought in more than $6.4 billion just for ATM and overdraft fees. It can be hard to avoid such charges because they aren’t easy to find.

So the next time, spend some time reading that fine print. It may affect what you do and even save you some money in the future.

Whether you’re one of those people rushing through the fine print or not, you should keep it on your to-do list to regularly. Check your credit score and report. That’s the best way to discover if your information has gotten in the wrong hands.

Keeping watch on your own transactions, like where are the big fees coming from and where you are overspending, can help in the long run.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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