Forgotten Money

I managed to keep a bunch of papers in my car for four months that was worth $330.  They were dental claim forms for my insurance at work.  I finally filed them this month and just got the cheques back yesterday.  So why did I have them in my car for four months?  I kept forgetting about them.

Or I would remember the papers when I couldn’t possibly get to them or when the dental office was closed and I still needed a signature on them.   This tends to happen to me once in a while.  I develop a block about dealing with something that will go on for months.

So where else can you forget about money? Well in my case here is some places I’ve done it:

  • Not filing health or dental benefit forms.
  • Not doing paperwork at the bank to reduce fees.
  • Not investigate renewing my mortgage earlier (I could have done it three months earlier and saved some interest).
  • Not contacting my bank to update my investor profile and have money sitting in cash for too long.
  • Not contacting my service provider to reduce my service package when I no longer need something (last time it was removing something from my cable package).
  • Not selling items in my house online that I no longer need.  I have a least $100 of stuff to sell right now.
  • Forgetting to use a gift card or coupon.  I have a Home Depot one sitting on my night stand right now.
  • Not moving money to my high interest saving account from chequing for months.

Each item is usually rather small but when you add it all up it can be a lot of money that is slipping through your hands every day.  So how do you deal with it?  To be honest I’m not sure.  It usually works out in the end for me, it just takes a while to get there.   How have you tried to remember forgotten money?

6 thoughts on “Forgotten Money”

  1. The gift card thing I can relate to. The generic ones (i.e. Visa) are annoying to redeem sometimes, because the clerk has to know how to process it in case you are buying more than what the card is worth (and pay the difference by other means). I always try to use those generic ones in one shot, too. Store-specific ones are easier to use, so not using its value in one shot is not as crucial and may not always be possible.

    I have sometimes forgotten to use them when I had a chance to, and I don’t buy a lot of “stuff” so I don’t get too many chances. What I do to help remind myself to use them is to put the gift card in the same part of my wallet as my cash (instead of the card holder which for me is a totally separate holder). I do that with coupons, too.

    I can’t say I have encountered any of the other gaffes you have.

  2. I have had to follow up on rebates that I was entitled to but for some administrative reason or another were not processed.

    I am sure that companies manage to hang onto a lot of money by not processing rebates or because people simply forget to submit the forms.

  3. @ deegee,

    Mmm, I should try keeping the gift cards with my cash. Perhaps that would help. Thanks for the idea!

    @ Dana,

    That’s a good one. Another I thought of while reading your comment is not taking all the time off that people qualify for.


  4. I can totally relate to the forgetting one! My latest one was dental claim forms too. When I finally got my act together and mailed it (it was my first claim with a new dentist, so I couldn’t do it online because my insurance company makes the first claim be on paper) it was worth $220!

    When I get a gift card, I carry it around in my wallet. This sometimes get a bit annoying, but if I ever happen to end up at that place, the gift card is there and ready to use. This is also why I much prefer “generic” gift cards like the VISA ones – then I can use them anywhere and don’t have to worry about being at the “right” store.
    I find keeping track of the amounts left is easy. I usually try to use the full value in one go. It takes like 8 seconds to use two forms of payment.
    I carry a mini Sharpie in my purse anyway, so if I don’t use the whole value, I jot down the remaining value right on the card itself. Simple!

  5. Guilty. Finally claimed an eyeglass expense from March 2009. Just procrastinated about sending it first to my husband’s plan to get the official “rejection” for exceeding the annual amount he can claim. Then had to resubmit to my plan for reimbursement. Maybe if it had been for $300 I would have gotten it done sooner, but for $75 I keep procrastinating. Not that $75 isn’t significant, but apparently it wasn’t enough to make me download the two sets of forms and do the double submission.

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