Is Your Bank Charging You More Than It Should For Services?
If you’ve ever had the suspicion that your bank is overcharging you, you may be right! In fact, banks are making windfall profits off of unsuspecting consumers. And it’s money you don’t have to be losing.
Most banks borrow money for only 1 to 3 percent, then turn around and sell it to their customers for 9 to 18 percent, pocketing the difference. But there are even more ominous ways they’re needlessly making money off consumers.
Many banks charge too much for just about everything – from exaggerated monthly account fees, to “per check” service, to stop payments, to overdraft protection. You might think these are just minor fees everyone has to endure, but more and more consumers are becoming dissatisfied by the “nickel and dime” charges banks use to profit from their customers.
Here’s what you can do to reduce or eliminate many of these costs:
Don’t write checks when you don’t have to. Consider using a “debit” card instead of a check for your purchases. A “debit” card looks like a credit card, but a charge on a “debit” card deducts your purchase directly from your checking account. And since it’s an electronic transaction, it’s easier on your bank, and there should be no transaction or “check fee.”
Shop for bank services the same way you would shop for anything else. As a general rule, smaller banks have lower (and fewer) fees. Check out the banks in your area that are owned locally, and make a switch. You’ll be surprised how much money you can save on an annual basis from one bank to the next. Savings and Loan companies tend to charge lower fees for normal services.
Don’t buy physical checks from your banking establishment. They add on extra charges and mark-ups for ordering and handling. Do it yourself for free. There are several trustworthy companies that print checks for up to 75 percent less. And you can frequently get “first time” deals that will save you a bundle.
If you’re a senior, make sure you ask about special discounts or checking accounts with no fees.
Some banks will give you free checking, or lower costs, if you have your paycheck deposited automatically.
Bank by phone or on-line whenever you can. You will save gas, time, and wear and tear on your automobile!
Credit Unions tend to have lower overall rates and pay higher interest on savings accounts if you need one. So if you qualify for a credit union, join up.
Remember, shop for your banking services the same way you shop for anything else – take your time, comparison shop, and get picky. Know what they’re really charging. Read the fine print. Ask questions and expect straightforward answers. After all, it’s YOUR money!
The “Early Bird” Saves $$ On Fuel
The proverbial “early bird” not only “catches the worm,” but also catches savings at the fuel pump.
Fill your gas tank early in the morning, when it’s cool, and you can get about 5 percent more gas for the same price. The heat of the afternoon sun causes the gas to expand in the station’s fuel tanks so that less pumps out as the day wears on. Believe it or not, the average “early bird” will save up to $50 per year (and perhaps even more) with this method. Try it, you’ll like it!
Quote For The Month…
“The true value of a human being is determined primarily by how he or she has attained liberation from the self.” -Albert Einstein
Are You Getting Enough Exercise?
Everyone knows that regular exercise is the single best way to maintain a healthy, balanced life. But there’s been a debate about how much exercise is appropriate to obtain the maximum health benefits.
Now, sports medicine physicians say even a little exercise can go a long way in providing you with better health. “Any exercise is better than none,” says Gordon Matheson, professor of functional restoration and director of Stanford University’s Sports Medicine Program.
The U.S. Surgeon General’s Healthy People 2000 report calls for most people to accumulate 30 minutes of exercise every day to improve health. “Accumulate is the operative word,” Matheson says. “Research shows us that the effects of exercise are cumulative – everything counts. Continuous exercise is good because it helps build endurance, but health benefits are gained by finding small opportunities during the day,” he says.
So instead of riding the elevator, walk up the stairs. And, park at the back of the parking lot rather than in front of the store. The accumulated amount of exercise you gather throughout your day is what really counts.
Please Welcome My Newest Clients And Friends!
I’m thrilled to welcome my newest clients into our real estate family. Thanks so much for thinking of me with your referrals when you, your family, or friends need a caring and competent REALTOR®:
Casey & Lindsey Grover
If you’d like more information on how simple repairs and fix-ups can bring you as much as $10 dollars for every $1 invested, call me at 801-361-4860 for my Free Consumer Booklet, “Home Seller’s Guide To Money-Making Fix-Ups.”