Your Money: Get What’s Coming to You

There is a lot of unclaimed money out there, whether it’s bank accounts that people forgot about or insurance claims that were never made or money not taken advantage of for a number of other reasons. The amounts are staggering. And if you think about it, there may be money that’s owed to you that you’ve forgotten about or never thought about claiming. Whether you’re struggling with money or not, don’t let those unclaimed funds slip through your fingers. You deserve that money!

A number of years ago I had a health savings account. Time passed, and I stopped making deposits. Eventually the bank I had the account with closed the account due to inactivity. The money that was in there (about $100) ended up getting sent to my stat’s unclaimed funds division. I eventually remembered about it and claimed the money that was rightfully mine, though the state took a cut for the trouble I put them through. If you have any accounts that may have slipped into inactivity, check with your bank or your state to see if there are funds that are owed you.

Another personal example: I had pet insurance for our dog, Oliver. The way the insurance works, I had to submit claims to get money owed me. If I didn’t make the claims, the insurance didn’t know about the expenses, and I would have paid 100% out of pocket unnecessarily. The same can be said for some health insurances. If you paid for something out of pocket that should have been covered by your insurance, submit a claim form and get that money back. Even if you have to pay a deductible or copay, getting something back is better than nothing. Just think how happy you’ll be to get that check in the mail!

Sometimes a little research can reap huge benefits. Spend some time thinking about what you should be paying and what you’ve already paid. Check out your state’s unclaimed funds division to see if your name happens to be on there (be sure to check for your spouse’s name, too!). If necessary, review your insurance policies to make sure you’ve taken advantage of everything the policies offer. There may be things that are covered that you didn’t think were. Why  miss out?

A few other ideas:

  • Check with your employer’s human resources department to see if there are any benefits you’re not taking advantage of. (For example: employer match and profit sharing on 401(k) accounts, continuing education funds, etc.)
  • Hire an accountant to do your income taxes to make sure you’re taking advantage of all the deductions you qualify for. Along the same lines, if you make any donations, make sure you get receipts so you can deduct them at the end of the year.
  • Download apps such as ibotta and Checkout 51 that offer rebates on groceries and other purchases, and you can get cash back for purchases you’re making anyway!
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