NEW YORK (Reuters) – Coronavirus lockdowns might have caught a lot of people by surprise last month, but with April’s new billing cycle, it is time for cash-strapped Americans to rethink automatic spending habits.
An empty gym is seen following the outbreak of coronavirus disease (COVID-19), in New York City, U.S., March 16, 2020. REUTERS/Jeenah Moon
Are you turning off that monthly parking pass? Your gym membership? What about the balance due for summer camp?
You may have many recurring charges on credit cards you do not even notice most months, what experts refer to as gray charges.
“This is a time more than any other that people need to be aware of where their money is going,” said Haroon Mokhtarzada, co-founder and chief executive of Truebill, a free service that evaluates your spending and helps you cancel services you no longer want.
Automation is usually helpful in personal finance, but it makes things tricky with the economy on pause.
Ramit Sethi, author of “I…