As published in the Wall Street Journal this week, it's estimated that, on average, each household in America loses approximately two thousand dollars each year on fees, scams and waivers they weren't aware of because they didn't read contracts connected with services or products rendered. That amounts to 250 billion dollars across America. Google "BBB read the fine print," the results may surprise you.

Better Business Bureaus (BBBs) Recommend Reading the Fine Print

Here are a few of thousands of suggestions the Better Business Bureaus around the country have made after receiving numerous complaints that could have been avoided if only the consumer had read the fine print.

  • The Connecticut BBB: In 2011, received 1,300 complaints regarding scam cruise ship scam offers. With the cruise ship season upon us, they warn that fraudulent companies send post cards, letters and advertising packets offering great deals or free cruises.
  • The St. Louis, Missouri BBB: Recommends using caution when purchasing gift cards. There may be an expiry date, additional fees, or if the person receiving the gift card wants to make an online purchase, this may not be possible.
  • A Charlotte, North Caroline BBB: Warns that over the last thirty-six months, they have received four hundred and eleven complaints, regarding gym memberships. Most of the complaints were because a salesperson promised one thing, while the contract stated something different.

Newspapers Regularly Advise Readers to Read Agreements

  • Odessa America, a newspaper serving West Texas and Eastern New Mexico, published a cautionary tale regarding internet deals, such as Groupon and Living Social, the article urges readers to read the fine print because there may be details that aren't obvious.
  • An article in The Lorado Sun titled "Resolve to be a Smart Shopper in 2012 listed ten resolutions. Resolution number three was, always read the fine print.
  • The Toronto News published an article regarding ten things you need to know before signing on the dotted line, number four was to read the contract and pay attention to the details.

This is all very well, but there are very good reasons why most of us shudder at the thought of reading the thousand or more contracts we will be asked to sign during our life time. They can be many pages long, full of legalese and printed in small type. Besides, they are mostly boilerplate contracts, and nothing within the contract can be changed.