In Song of Solomon 2, there is a verse that instructs, “Catch the foxes for us, the little foxes that spoil the vineyards, for our vineyards are in blossom.” For us here in the US, we think of the red fox, but this verse is more likely talking about what is called a golden jackal. This jackal is an omnivorous and opportunistic forager with a diet that varies according to the season and habitat, with around 40% of its diet including fruit. They are small, standing around 18-20 inches and weighing around 20-30 lbs., roughly the size of a beagle. These little critters were a threat because of the damage they would do if left unchecked. While this verse talks more about the potential threats to a relationship, the principle can be applied to many areas of our lives.
While little foxes may not be the number one threat to a crop, if left unchecked, they can have a negative effect on yield. The principle of letting the little threats sneak through and continue has a way of destroying the same as if a significant, obvious threat were to make it through like a fire. The unnoticed threats compound over time, causing more significant damage.
Our finances are one of those places where this principle comes into play, especially in the context of how today’s online, autorenewal payment systems work. The little foxes in our finances are forgotten subscriptions, bank fees, delivery memberships, credit card interest, unused or underutilized memberships, and unwillingness to renegotiate contracts when special offers expire. For example, internet service is something almost everyone has to have now, but how often does your contract expire or renew at a higher rate? We accept the increase in the monthly bill, and while we may complain about it to our family or friends, we never try to renegotiate the service or look for a cheaper option. Or, how many apps have we downloaded to get a special offer that expires after 30 or 90 days, but yet we don’t go back to cancel them once the offer has expired? The autorenewal keeps billing our account and it could be months or years before we end the service. These are little foxes that, when we look at them against a giant threat to our finances, like a considerable unexpected expense, don’t seem like a very big deal or anything to be worried about. But as you lose a grape here and a few grapes there, month after month, you soon have very few grapes left at harvest time.
While these little foxes are not our number one threat to our finances, they do destroy and weaken the overall crop enough that it will take less and less to wipe out the whole vineyard. So, how do we remove these little foxes? Audit your finances hidden and forgotten subscriptions and cancel what you are not using regularly or renegotiate what you are paying. Many banks now provide a service that can show you your recurring charges. As the annual or monthly notifications come in, cancel them if they aren’t utilized. When you sign up for a new special offer, make a task on your calendar to notify you to cancel it when your offer has expired or to call and renegotiate a better rate. Many services will make a deal rather than have you cancel altogether. Managing or removing these “little foxes” helps ensure we do not lose money in unrealized but significant ways.
Managing “little foxes” is an ongoing task just as you can’t remove a real fox and not expect another to move into the area and take its place since the needed resources are there. We also need to make sure we are keeping an eye out for the new “little foxes” moving into our finances and keeping them from destroying our vineyard.
