On Sale Now! Why Does The Stock Market Go Up? by Brian Feroldi

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008 | Avoid Bank Fees at All Cost

Frugality

Bank Fees and fees generally are the financial equivalent of death by a thousand cuts. AVOID THEM – Here’s how

  • Don’t piss off the accountant: Bank Fees
  • Americans spent $32 Billion in overdraft fees in 2016
  • Bank accounts and credit cards should be financial tools you use for free
  • Overdraft fees mean you have no money and the bank is loaning you money for $35 at a time
  • If you don’t have $1,000 in savings you have an emergency
  • Jonathan had one overdraft in 2016 but his system for putting it on a credit card avoided a fee
  • One fee leads to another. Come up with an action plan to avoid them
  • If you get hit with a fee, call your bank to ask them to waive it
  • If you threaten to leave your bank over a fee, they will almost always waive it
  • Determine if you need a local branch for your bank to save more money
  • If you’re getting hit with any fees, you need to sit down with your banker to come up with a plan
CIT BankEarn up to 1.45% APY with a savings plan that fits your lifestyle.
Radius BankUnlimited ATM fee rebates and earn 1.00% cash back with Rewards Checking.
Axos Bank Rewards CheckingEarn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.
Lively#1 user-rated health savings account. Lively HSAs are free for individuals and families, so you never have
to worry about hidden costs.

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