Despite the looming crackdown on banks for high overdraft fees, banks are still finding ways to nickel and dime consumers. Here are a couple of painful fees discussed recently by Forbes magazine. Balance Transfer Fees aren't so balanced when banks charge a fee of between 3 and 5 percent. This means that transferring a balance from a credit card with a 15 percent interest rate to a card with a better rate of 12 percent may not save you anything at all. In fact, depending on your fee, it could cost your more.
Balance Requirement is another costly fee for many consumers with "free" checking or savings accounts. Sure, the bank waives the service charge for maintaining a set minimum balance, but fall below this number and you could be charged up to $8 every time – not to mention the opportunity cost of the money set aside for maintaining your balance in the first place.
Would you pay your broker 25 percent commission? Well, Forbes reported that Bank of America is charging customers from other banks $3 for ATM withdrawals. If your bank charges an additional fee, you're likely paying up to $5, or 25 percent, every time you take 20 bucks from the ATM. Ouch!
Recently at each Inman Conference they have had a speaker highlight various websites to watch for various reasons. Last week in New York, Jeff Turner put together a list of 25 websites that will help you reduce costs, save time, and communicate better. I like his last note not to forget about the old fashioned telephone or hand written note when addressing communication. Two art forms that can be overlooked. Definitely worth a quick look through his list which can be found here: 25 Websites To Help You Find Customers & Save Money In A Downturn
Recently at each Inman Conference they have had a speaker highlight various websites to watch for various reasons. Last week in New York, Jeff Turner put together a list of 25 websites that will help you reduce costs, save time, and communicate better.
I like his last note not to forget about the old fashioned telephone or hand written note when addressing communication. Two art forms that can be overlooked.
Definitely worth a quick look through his list which can be found here:
25 Websites To Help You Find Customers & Save Money In A Downturn
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I told you this blog would be chocked full of money saving, recession busting, practical financial tips.
I am sure that you are all very tired of hearing about the economy and the recession. It seems that everyone is jumping on the doom and gloom bandwagon. While everyone else would have you believe that the sky is falling, I plan to combat that mentallity by educating you on the opportunity this economy brings.
2009 promises to be an interesting year, so let's start the year off with a bang. The financial crisis is scary, and the threat of a really serious recession if the lack of credit continues or worsens is growing. But that doesn't mean this all has to have a bad ending. You can Choose Not To Participate In The Recession. Check out my website www.ShamecaTankerson.com to find we ways to boycott the recession.
I will be posting money savings & wealth building tips to this blog on a regular basis. You have options when its comes to opting out of the recession. Check back often to find out where you can get the cheapest gas, save on your color printing, and more.
Remember its your choice to Choose To Create Prospertiy For Yourself And Others!
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