Bank Fees, Everyone hate's them

This has been the subject of the year, BANK FEES. Banks want to taylor their accounts to you, because so much revenue is being made on overdraft fees. What I did for you guys, is research a banks that does not charge for overdraft fees. This bank still charges a montly fee, which it is still cheaper than paying those heavy charges. The one bank I found is PROBITY FINANCIAL SERVICE so far this is the only bank, but I'm pretty sure more will pop up by the end of the year. They probably will be much better than this one. I checked other sites and found great advice on different types of overdraft protection that are offered from different banks, feel free to check it out at the BANKRATE.COM website just click and it will forward you there.

METRO PCS

What is METRO PCS? METRO PCS is a cell phone provider that is rapidly rising around your area. I recently switched to Metropcs, two months exactly. I like it, not love it yet, because they are not a nation wide cell phone provider, but for $45 dollars a month for unlimited calling and texting I am not complaining at all. This is why I am writing about this, because a lot of people spend a lot of money on their cell phone bills unnecessarilly. Metro Pcs is not the only company offering unlimited plans, you can also check out Boost Mobile and Virgin Mobile they are now offering unlimited plans also.

Saving on Phone Bill

I just recently moved and I needed to keep my expenses low; what did I do to accomplish that? I started with my home phone bill, I priced out cable and regular Fios that is Verizon. I put everything on paper and saw that the phone was not necessary to get at the moment. Why? Because there were other options like VOIP (voice over ip) all I needed to get was the cable and the internet,and then the only service I would need to get is VOIP. I also researched the VOIP service and found a great one!!! Which I have been using for a couple of months and I realllly enjoy it. That company's name is MagicJack. I purchased the little unit for $49 dollars plus another five years of sevice for $59 dollar coming out to a total of $107 dollars for the next six years that is a whole lot of savings. This is My FRUGAL pick of the month... Until next time GO FRUGAL.

A Day At The Aquarium Going Frugal

This weekend I went to the NY Aquarium for nothing, all my wife and I had to pay for was food and gas. Every year my mother buys a family premium membership with the wildlife conservation society and it is well worth it. Especially when you have kids, it gets you out the house on those beautiful days; you educate your child or children’s at the same time. You already paid for the membership so you have to take advantage of it and those days that you do not have money the best place to go is visit one of the zoos. Why not take advantage of this membership and visit one of the parks?

Make extra cash by referring to this link

CashFiesta!!!!!

Shopping

Brands, how importants are brands for you? Part of being frugal is shopping for the best value. Old Navy or Ralph Lauren, Macys or Marshalls, everyone has their taste. We're not telling you where to shop but get the most you can out of your hard earned dollar. Every store has their bargains all you have to do as a consumer is look for them. Do not just buy out of instinct, take your time and look around the store, guaranteed you'll find a bargain. I have a friend that only buys at Lord & Taylors and comes out with a bunch of cute outfits for very cheap. You just need to look for the discounts go online and print out any coupons for discounts, that's how my friend does it. Go through the circulars for discounts. Set your budget for shopping and go with that amount and test yourself; see how much more you can buy with just that amount. Guaranteed you will look for those discounts.

Checking account

A way that I have learned to avoid overdraft, is by owning several checking accounts; I have my own checking account and a joint checking account. My two personal checking accounts are for my use only. I receive my direct deposit in my main account, and in the other checking account I strictly use for paying my bills. For my main account, I have a check card linked to it and for the bill payment account, there is no check card linked to it, just checks can be linked to it. I always keep track of what bills are being paid with which account, it is very important to keep track of all your expenses. If you don’t keep track of all your expenses, it’s the reason why; you wonder there are so many fees in your account. This is one of the biggest complaints that most customers have with Banks. They do not keep track of their expenses because they think the monies in the bank and in reality it’s not in the bank. Most of the time it is not the bank’s fault that the money is still in the bank; it is the merchant’s fault for not closing the batch at the end of the day. It takes longer for the money to come out of the bank due to this process. Remember it is not the bankers’ duty to keep track of your money. It is your duty to keep track of your money.

In end, Thank You for reading and do not forget

Go Frugal

Great way to keep track of your money

http://www.mint.com/


This website is a great way to see all your finances in one place. You are able to put in all your debts and all your bank accounts and investments including your 401k statements, in one place. Check it out, to see what is your net worth. You have nothing to lose, it is part of frugalthinking. You need to know where you are at, with your finances before making any moves. It graphs all your finance so you know where you need to cut down.

Importance of credit

Yes I got burnt, not so long ago I co-signed a car for a cousin of my. Biggest mistake of my life, at the time this cousin was living with us. He had a good job was paying his rent on time so, I did him a favor, I co-signed a car for this knucklehead. The real knucklehead was me, for not listening to everyone else. This boy, not a man because he acted as a child; overnight, he change to a piece of turd. Who decided to skip on the payments after five months. I had to take the car away and let the finance company repo the car because they wouldn't let me put it under my name, it was sold for half the price owed; leaving me to pay the difference that is owed on the car, which I am liable for.

The lesson here is that credit is so important in almost any expensive purchase. My cousin had a nice payment for a car of the year. Without my credit he would have not taken advantage of the deal they gave him. But now my credit is tarnish and it will take a little extra time to re-establish my credit back. The problem with bad credit is that the lender will charge you more because you are a higher risk.

Think it twice before you help someone with your credit, especially in today’s market that it is very hard to get a loan done if you do not have good credit.

I hate Atm fee's

Atm fee's!!! Banks have taken it to the limit, charging ATM fee's. A lot of people are just getting their own ATM's putting them on street corners all over the city. It is ridiculous! I went to the city this past weekend and noticed all on ninth ave from 50th down to 40th st there was an ATM on every corner of the street. That is because they are a whole lot cheaper than the banks and the expect you to use them. The truth is that you can not trust these ATM's because this is how some identity theft occurs. Scammers have found ways to hack these ATM's.



What has to be done as a consumer? You as a consumer need to find a bank that rebate's your ATM FEE's. Believe me there are banks and credit unions out there that have these special features. Avoid banks that charge you fee's for using other banks.



I had this bank account once where they use to charge me a fee for using another banks ATM. Then the other bank also charged a fee. That's ridiculous! That's 6 dollar, now! That's a lot of money to be giving away!



If you are an avid ATM abuser here are some figures to ponder on. If you use the ATM at least 3x's a week that is 9 dollars 9x's 52 = 468 dollar a year, WOW! Mucho Dinero to get your own money.



I am going to share a secret with you guys I DO NOT PAY ATM FEE's WHY? I found a bank that pays me my money back by the end of the day. Sometimes I forget and I go crazy because am not near my bank and I say "I do not want to pay ATM fee's that is why I want to go to my bank" Then my wife says to me "Don't you get that back?" then I start banging my head that's right. But that is just the way we are trained because of habit. A habit that "can" and I repeat it "can" be broken.



By the way that bank is called Webster Bank, if you guys are interested the customer service there is great. I usually go to the one in New Rochelle right down the block from New Roc.

Using your check registry.

Using your check registry.



It is very important to use a check registry, to keep track of your money. Many people bounce checks because they lose track of their money and think that the money is in the bank. The importance of a check registry is very critical and it is part of Frugal thinking. Keeping track of your transaction allows you to keep your money instead of giving it to the bank in unnecessary fees.



Example



Lets say a person regularly bounces a check, like maybe three times a week. On average, banks charge $35.00 per bounced items. Woo Hoo!! Banks like this person already.



3x's 35 = 105 105x's 52 = 5460 WoW crazy figures. This is one way a bank makes money. 100 to 5400 dollars is a lot of money to give away when you have full control of that.



It is also good to apply for over draft protection if you qualify. If the bank offers over draft transfers from your savings account it is also a great way to save yourself from exhuberant fees, but these type of transfer cost less than getting hit with $35.00 or more depending on the institution.



Just for thought

GO FRUGAL

Saving for the holidays, now is the best time to start saving for the holidays. Some banks offer holiday clubs which allow you to deposit money for the holidays or for whatever savings plan you may have. About a month before the holidays comes', they distribute you a check from all the money you have saved, plus interest. If your bank does not offer a holidays savings club, there are many online banks that offer automatic transfers from your current account, to an online savings account. They usually offer higher interest than a regular savings account and it is liquid. Liquid means that you have that money readily available and it is not frozen like a Time deposit. A TimeDeposit is money you invest for a period of time in a high interest account. The online banks are able to offer high interest bearing accounts because their cost is lower than you walking into the bank. There is less over head with an online savings account and you the consumer earn that extra income.

Here is a simple figure for visual purpose:

There are 52 weeks in a year, and if you save 20 dollars a week for 52 weeks. That is a savings of 1040. $1040.00 can go a long way if you spend it wisely.

Just for thought,
Go Frugal

Definition of Frugal

Frugal is the practice of waste reduction. Common strategies of frugality include the reduction of waste, curbing costly habits, seeking efficiency, avoiding traps, defying expensive social norms, embracing free options, using barter , and staying well-informed about local circumstances and both market and product/service reality. As written by Wikipedia.