Men are bad in shopping, and even in making the payment. Let us look at how we MAY be getting ripped off because of our negligence:

1. NOBODY, nobody, nobody is more interested in making sure that we get paid our salary on time and without a mistake. Keep an eye on the pay stubs / pdf pay slips every month. Companies make mistakes (hey it is your pal out there) and these mistakes should be corrected immediately. Especially if the company does not have a robust HR system in place, this becomes more important.

2. Check your Mall receipts. The kids at the counter are not trained too well, so  mistakes could happen. The pricing on the receipt happens by coding – so a cheaper biscuit could be priced like a more expensive one. A biscuit may not materially alter your bill but add a few mistakes here and there an hey! you could be down by a couple of thousand bucks in a year. At least do a test check or keep a hawks eye on the counter when he/she is billing. Also be concerned about double swipes. Unintended perhaps, but not unbilled!

3. Check your credit card statements and bank statements: Banksters is not a name that they got just like that!! be careful and keep a hawks eye on the amounts debited. Look for hidden charges, etc. Be alert.

4. Check your mutual fund statements: a friend was told that his cheque had actually bounced!! he had to go to his bank and find the details..and get back 4 years of past data. So fund houses routinely make mistakes and YOU are expected to pick the tab. Be careful. The life insurance company, the health company…all of them need proper attention.

5. Your broker’s volatility could be hurting you: So make a static portfolio…and find out at the end of the year if you had done NOTHING would you have had more money (assuming you did not put in any money during the year) …or see how much charges are you paying for every rupee of profit that you make….