Protecting Yourself Against Overdraft
Fees,
or Defensive Banking 101
Consumers paid $38.5
billion dollars in overdraft fees. Moms
today
cannot afford to spend any extra money on fees. Here's how to
avoid a few common pitfalls:
Balance Your Checkbook: Keep your balance up
to date so you know exactly where you are. This is the simplest way to
avoid bouncing a check.
If you do bounce, some banks may charge you for other withdrawals
too. Not everything may be deducted in date order; check with
your bank for processing times.
Deposit holds: Just because you deposited a
check, it doesn't mean you have those funds available for use.
Some banks will put a hold on your deposit for up to 10 days. If
you write a check or use your ATM card against that money, the bank
will be happy to pay it anyway -- and then charge you an overdraft
fee.
Check with your bank for their policies. After
you make a deposit go online and check your statement to be sure the
funds are available. Do a print screen if you are concerned about
problems later. If you are depositing with a teller ask them to
make sure the funds are available, get a receipt.
Where to file a complaint against your bank: United
States Federal Reserve
Post your banking horror story and read others at: Consumer
Affairs
Join the Move
Your Money movement at HuffingtonPost.com
Do You Respect
Yourself Financially?
There is always much talk
about what the secrets for achieving
financial dreams, whatever they be, are. It may seem like a mystery as
to why some people seem to be able to make a lot of money, keep it and
then go onto make more. The truth is these people follow some basic
laws concerning money management. These laws are not difficult to
understand, however they do require discipline. Money management and
financial knowledge is important.
I am sure that there are some people who are reading this who feel
ashamed about how they handle their money. The trouble with this is
that shame or guilt about finances only creates a state of "poor"
thinking and this type of thinking attracts more financial trouble. To
turn this around you need to focus your energy and attention on new
behaviors that will establish you to think wealthy thoughts. When you
feel good about how you handle money, you can learn to trust yourself.
To improve your financial health you need to start out slowly and
methodically in order to develop the good habits of fiscal management.
Start by asking yourself this question: "What's the one thing you need
to do in order to improve your financial well being.?"
Usually you will
know immediately what it is because it is baggage that you carry around
with you daily, baggage that weighs you down. Then again it may be that
really have no idea. If this is the case it would be very useful to
contact a financial planner. Experts with knowledge on specific tax
laws and investment opportunities can assess your situation and advise
or make suggestions about where you need to begin. Don’t underestimate
the help they could provide you.
Once you have an answer, do something about it this week. The secret is
in the doing. So, just how committed are you to paying careful
attention to how you spend and invest, which is the key to making and
supporting wealth?
Do you want to develop high financial self esteem
when handling your money?
Do you want to develop good money habits and
maintain the discipline to live within your means?
If so, you stand to
benefit by increasing your level of financial self respect and
confidence. Last, but not least, your pockets could end up being a lot,
lot fuller.
Kim Knight, The
Coach Yourself to Greatness
Coach, has helped a
number of clients target their goals. The Personal Life Coach is not
only a sought after trusted and inspirational coach. She has also
written EBooks for all those who want to help themselves or support
others. There are many successful clients whose friends and family are
amazed at finding out that someone else coached them on their overall
transformation.
For more information, visit
Kim's site at http://www.kimknightcoaching.com
and sign up for up for her FREE Coaching Tips at http://www.coachtogreatness.com
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