Zone 2

Money Drain: The $76 Song from iTunes

“Recently I purchased a song on iTunes. Not knowing my iTunes balance was empty, it charged my mom’s debit card. Her account was empty and we received a $75 overdraft fee. I paid $75.99 for a song that got old after 5 plays.”

Submitted by: Steph

Lesson Learned:
This one is quite obvious.  Always check your balance before making any purchase.  In reality, we should be checking our balances every morning before we start our day, and keeping our own record with tools like Microsoft Money or mint.com so we are always “in the know” about our financial status.  This way we’re not hit with surprises like this.

Instant gratification of having what you want now is not worth an extra $75, especially for a $1 purchase.

Amount Flushed Down the Money Drain: $75

About Crystal Groves, Google+

Crystal Groves is a farmer, web developer, musician, blogger, and personal finance enthusiast from the back hills of Maryland and Pennsylvania. She started Money Drain as a project to encourage people interested in fixing their financial situation to share their stories and learn from the stories of others. We all make mistakes, but in order to change we have to make changes.

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