This article will provide you with simple common sense ways to avoid these overdraft fees. Many people will lose 100's of dollars per year from hidden charges. They are a fact of life because they are profitable for banks - that is the bottom line.
Ok, you have my attention, what can I do?
Great, the first thing to do is to prevent the possibility of getting an overdraft. This may sound silly, but most people get into trouble because they aren't aware of their account balance and will use their check card excessively. This increases the possibility of racking up fees. Each charge to a card over an account holders limit is a penalty (they add up fast)!
Be careful, if you can't keep track of their account balance - stop using check/debit cards. Go to the bank and withdrawal money personally. It never hurts to develop a friendly relationship with your bank teller. They will keep you in the positive. And have the ability to remove overdraft fees. You will also save money because you do not have 24/7 access to your checking account. Most people spend impulsively after business hours and during the weekends. You will save loads of money this way!
Keep enough money in your checking account at all times - especially when bills are due. A reoccurring issue is bills being before payday. This can be prevented by getting a payday loan. Payday loans are short-term loans and cost far less than overdraft fees. Check out http://needEZmoneyNOW.com for information on short-term loans. When people use credit cards - balances have a tendency to accumulate. Stay away from this - credit cards are just another way to lure people into debt - especially people that are having financial troubles.
If you received an overdraft fee - try talking to your bank. Hidden charges take advantage of naive people, those that have bad organizational skills, and people that lack responsibility. Just ask your bank if they have programs available for overdraft protection - most do through a savings account or credit card.
Finally, life cycles - people lose jobs and get promotions. Standard of living will go up and down. Don't get caught in a standard of living that keeps you broke. Make adjustments and build a safety net. Two safety nets are ideal!
