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Shadow_Ferret
01-03-2008, 03:06 AM
Post Holiday Budget Blues!

I need to find a bank that has some sort of overdraft insurance.

These overdraft penalties are killing us.

SpookyWriter
01-03-2008, 03:11 AM
I don't have overdraft. If the money isn't in the bank then no purchase.

truelyana
01-03-2008, 03:14 AM
I haven't taken anything out of the bank, for about a year. I've never experienced an overdraft too, and all that I have, is in my purse and not usually used.

choppersmom
01-03-2008, 03:14 AM
Try Chase. We just opened an account with them, and they offer overdraft protection.

Shadow_Ferret
01-03-2008, 03:18 AM
I don't have overdraft. If the money isn't in the bank then no purchase.
Unfortunately, we've been living paycheck to paycheck and sometimes something slips through that I forgot to account for.

Once we get our tax return money then we'll be back in the high life again, but until then, things just keep going from bad to worse as we get hit with fees that cause more fees because we don't have the money to cover the fee.

TrainofThought
01-03-2008, 03:20 AM
Post Holiday Budget Blues!

I need to find a bank that has some sort of overdraft insurance.

These overdraft penalties are killing us.So, you spent more money than you had and you want to add more debt by paying for overdraft insurance? http://smileys.smileycentral.com/cat/4/4_6_2v.gif

Don't you have anything in savings to transfer to checking?

SpookyWriter
01-03-2008, 03:21 AM
Unfortunately, we've been living paycheck to paycheck and sometimes something slips through that I forgot to account for.

Once we get our tax return money then we'll be back in the high life again, but until then, things just keep going from bad to worse as we get hit with fees that cause more fees because we don't have the money to cover the fee.Sorry to hear that, Ed. I know what it's like to go paycheck-to-paycheck. I'm not sure if there is any insurance you can get with a bank. I know some offer a line of credit and the fees are a lot less expensive than penalities. Keep your head up, tax refund time is just around the corner.

Jersey Chick
01-03-2008, 03:29 AM
Ouch. I, too, know what it's like to live paycheck to paycheck (those ends just about meet, don't they? But not quite).

I think Bank of America has it - but you might have to keep a minimum balance. I'd have to check on the specifics - but I'm pretty sure we have it.

Ol' Fashioned Girl
01-03-2008, 03:46 AM
Bank of America has it - no minimum required.

truelyana
01-03-2008, 03:55 AM
Bank of America has it - no minimum required.


Now I am Bank of America


Who better to call than Inky. ;)

Siddow
01-03-2008, 04:04 AM
I'm with BofA, too, and haven't paid an overdraft in, um, decades. When I make a faux pas, I call them and plead as their two-decade, committed customer, and they have waived every time (maybe ten?). They even put money back into my savings account with them because I was one minute late with a deposit to cover a withdrawal. But another I like is ING, they give you some spiff funds over your deposit amount, and cash back on all your purchases, at least through the Orange Savings. I just use them for savings (sometimes for purchases when the BofA is low), but look into their checking. Don't get screwed. Call your bank and plead stupid. It really works, just look at me!

Jersey Chick
01-03-2008, 04:06 AM
Ah, go with BoA - sooner or later they're going to take over every other financial institution on the planet... ;)

jst5150
01-03-2008, 04:15 AM
Wachovia, too.

truelyana
01-03-2008, 04:18 AM
Don't go with Northern Rock...

Jaycinth
01-03-2008, 04:36 AM
. But another I like is ING, they give you some spiff funds over your deposit amount, and cash back on all your purchases, at least through the Orange Savings.!

Ing also has Orange Checking 'Electric Orange' that gives you automatic overdraft protection, Pays 4% interest on what ever balance you have, even if it is only 14 cents, and basically, you can't overdraft because your balance is in front of your eye every time you write a check.

WWW.INGDIRECT.COM (http://www.INGDIRECT.COM)



. Call your bank and plead stupid. It really works, just look at me!

Yeah, before I had ING this always worked with Wachovia. Or at least it did that one time. They reversed $120 in fees. That was a week of groceries.

Luck and hugs!

Shadow_Ferret
01-03-2008, 05:04 PM
So, you spent more money than you had and you want to add more debt by paying for overdraft insurance? http://smileys.smileycentral.com/cat/4/4_6_2v.gif

Don't you have anything in savings to transfer to checking?
I'm thinking a small fee each month for overdraft insurance is cheaper than paying a $33 fee each time something hits.

And savings? What's that?

Our net worth today is -$166 before fees.

Jaycinth
01-03-2008, 06:06 PM
My personal opinion is that no one should be paying their bank fees for anything. Not a monthly fee for the privelage of letting them hold your money, not a fee for each check your write, and not a fee for using a 'foreign' atm.

Why pay overdraft insurance?

I mean, and maybe I am looking at the world through violets and rainbows, but wouldn't it be better to reconcile your account and be careful to not make ATM withdrawals or write checks when you are down to $5.00?

I've lived paycheck to paycheck...kind of currently do...and some days..or weeks we skip things because I don't have cash up front, and banks don't float checks anymore.

Invest in 'Quicken' to help you get started in tracking your expenses.

Better yet, if you have a spreadshet program on your computer you can set it up as a cash flow monitor, enter your budget...and stick with it.

And before you start yelling at me (if you yell I'll hide your Pabst and call your team sissy names...I swear I will!!!!)

Before you really start swearing....yes...sticking to a budget is harder than losing weight on a pizza and chocolate diet.

Shadow_Ferret
01-03-2008, 06:54 PM
I know. I know. And like going on a diet, I keep saying I'll do it and stick to it.

I hate the instantaneousness of finances these. days. There was a time when you could "float" several checks knowing that the money would arrive on Friday.

Now, every purchase is there in minutes. Compound that with automatic debits for bills, and well, some days I just feel overwhelmed.

Other days, just whelmed.

One day I hope to be underwhelmed.

So I write my books in the hopes that one day a little success might come my way.

Ol' Fashioned Girl
01-03-2008, 07:34 PM
We don't pay a fee for overdraft protection... 'course, we've got our savings, Visa card, mortgage and checking with BoA, so that might be part of the equation. All of the accounts are free.

Carole
01-03-2008, 07:54 PM
I don't technically have it, but there was an occasion when my credit union covered an overdraft last year. It may be because I've had the same direct deposit schedule for over two years.

See? This is what you get for poking fun at me and my 108 year old house without central heat. neener, neener, neener! :D

Siddow
01-03-2008, 08:04 PM
Compound that with automatic debits for bills, and well, some days I just feel overwhelmed.



Do you have bills automatically drafted from your account? If things are that tight, I'd stop that. Way back when I was a poor single gal, I had a really good system of who I could pay late without getting a penalty, and if I did have to pay a penalty, it was the low-end ones that I held back payment to. Like if the power company charged a $35 late fee, but the gas company only charged $5, I'd pay the power bill and let the gas ride.

I still don't do auto-draft (because all of our money is commission; a real feast or famine situation), but I love online billpay. I can still wait until the last minute and get the payments there on time.

Shadow_Ferret
01-03-2008, 09:24 PM
Well, I'm behind in the heat. Thank goodness they can't turn us off when it's cold.

My situation, folks, is temporary and based on our own poor spending habits and not due to being financially poor. We make very good money, we just don't know how to budget it.

We were in worse shape many years ago until we got on one of those credit card plans. We're seeing the light at the end of the tunnel, I like to think so, anyway. It's just end of the year, for the last several years, has been the tightest for us.