How often do you take the time to review your bill statement before you write the check or pay the bill? Not too often, right? As we discuss money management and how to create a budget this month, one important issue must be addressed. As with all things in life, mistakes can happen, and credit card, cable, and medical billing companies are not immune to mistakes.

When a statement or bill comes through the mail, take some time to read through the charges to assure that no added fees have occurred or no changes to the bill have been made. If you are receiving certain credits on your bill, make sure those are being taken off appropriately. Also, make sure that the full payment was received and taken off of the total balance due. If there is something on a statement that you are not sure of, make a call to a company to discuss the charge. Many companies are quick to admit a mistake and will immediately reverse the charge.

Sometimes a phone call to a company can provide additional savings as well; perhaps there is a promotional deal available or a program that you can qualify for to assist with lowering the payment. Making a phone call and taking an active stance towards managing your bills proves to the company that you are in good faith trying to reduce the debt.

What steps have you taken to have a more active role in reducing your debt?