Thursday, April 8th, 2010

This would probably fall under the heading of stuff I shouldn’t write about, but the longer I thought it over the more important I believed it was to share this: Before you call up your banker to bitch him out because you suspect last month’s interest payment on your loan was calculated wrong, get out a pencil and paper and work out what you think the interest due ought to be, because I can guarantee that, whether or not you do, the first question he’s going to ask you is, What amount did you come up with?

“It doesn’t look right” doesn’t amount to much of a complaint. The interest you owe is very quantifiable. They don’t pick a number that looks right. If you think an error has been made, work it out to the last decimal place so you can say exactly what you think it should be, then bring it to someone’s attention.

If you can’t work it out, then you should say so. There’s no shame in that. You should still give them a call, but instead of saying that you think the bank calculated the interest wrong, ask them how they calculated the interest. They’ll be happy to tell you, and once you know how you can check their work.

If you just plain don’t want to figure it out then, believe me, you’re better off not mentioning it to anybody because, if you do, your banker is going to be forced to do the math right before your eyes, and won’t that make you feel like a horse stamping out the answer to the question “What’s two plus two?” He won’t necessarily mean to make you feel that way, but what else is he going to do? You backed him into a corner, pretty much accusing him of mismanaging your money, and he’s going to do everything in his power to show you that he’s not.

looks are deceiving | 8:38 am CDT
Category: daily drivel | Tags: ,
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