Search Results for: blog overdrawn now what

A Slow, Steady Drip

I’ve recently seen a television commercial that shows people throwing away food as soon as they’ve purchased it, rationalizing that they’re just going to throw it away later, so they might as well take care of that now. The commercial then goes on to state that we throw away around $500.00 of food every year because of spoilage. That really rang true for me—I clean out my fridge weekly, and tend to find all kinds of little things in there that shouldn’t be consumed by human mouths. I would estimate that yes, I do throw away about that much food. … Continue reading →

The Envelope System

My mother is a very visual and kinesthetic learner. She needs to be able to see things and touch things in order to understand them. A long line of numbers in a checkbook ledger does nothing for her, and she insists that calculators are evil creatures with minds of their own. When she and my dad divorced years ago, she asked that her alimony be given to her in cash, and she placed the proper amount of money into envelopes marked “rent,” “food,” “utilities,” “gas,” and so forth. This was the only way in which she was able to see … Continue reading →

Stopping Payment on a Check

You may be in a situation when you need to place a stop payment on a check that you have written. There are a few legitimate reasons why you may decide to place a stop payment: a lost or stolen check or failure to provide goods or services as promised. It is fairly easy to stop payment on a check, but you need to act promptly. If the bank has already processed the check, then you do not have any recourse. To stop payment on a check you will need to go to your local branch and fill out the … Continue reading →

Financial Crisis!

There may come a point when you reach a financial crisis. This may be due to an injury that keeps you from working or from unexpected medical bills. It can be difficult to deal with the situations that cause you financial distress on an emotional level, without getting into the financial problems. If you find yourself in a situation where you just can’t seem to pay the money you owe, there are several steps that you should take. First you need to sit down and assess the situation. Is the situation permanent or is it temporary? You should compile a … Continue reading →

Money in Review July 8 – July 14

When it gets hot this summer, eating out can ease some of the heat. Save Money When Eating Out by Debbie provides 5 easy tips to help you still enjoy a night out treat. So many of us put off taking the time to create and follow a budget. Miriam offers up some simple advice in Start Budgeting Now! to motivate you into that very direction – planning for your future. Does spending lots of money on your kids improve the quality of their life? Miriam explores this premise within her article Spending Money on Your Kids. With balanced judgment, … Continue reading →

Balance Your Checkbook and Save Money

You can save money by balancing your checkbook every month and keeping a running total. The Center for Responsible Lending has just issued a new report “Out of Balance” warning against the high interest rates that the banks are charging to cover your items if you overdraw. The report speaks out against what it calls unfair banking practices that can cause the customers to accumulate more fees. The Center for Responsible Lending is supporting bill HR 946, which would put overdraft loans under the jurisdiction of the Truth-in-Lending Act. This could mean that the banks must notify you if you … Continue reading →

The Case for Cash

Hardly any of us ever use cash anymore. But if you are frugal, the way you pay just might make a difference in how much you spend. I realized, the other day, how I never seem to pay with cash when I pulled out the credit card to pay for an item that cost less than $2. It seemed sort of silly to me, the fact that I didn’t have a single dollar bill in my…well, billfold. There is a strong case for using cash instead of credit or debit cards when you want to be frugal. Here are some … Continue reading →

Do You Keep a Running Total of Your Account?

Do you keep a running total of your expenditures for the month? Do you keep a running total in your checking account, or do you guessitmate what you should have after your additional bills come out? It can be time consuming to make sure that you keep a running total of the amount of money you have available to you, but it is worth the effort. Here are five reasons why: 1) It will save you money if you do not overdraw your account. You will not need to pay insufficient fund fees to your bank, or the places you … Continue reading →

Are You Behind on Your Bills?

What do you do when you fall behind on payments? You may have been out of work for a short time, and you got behind on all of your bills. You have enough to move forward, but are having a difficult time catching up. If you consistently do not have enough money to meet your obligations then you will need to find ways to increase your income. You will need to take several steps to fix your situation. First you will need to prioritize your bills. It is important that you keep a roof over your head, food on the … Continue reading →

Have You Been Reported to ChexSystems?

If you have made some mistakes in your past and have been reported to Chexsystems or Telescan, you may have difficulty opening up a new checking account. Generally a bank will not report you to either of these services unless they have closed down your account because you were overdrawn for a long period of time. The systems are set up to protect the banks from opening up accounts that will end up overdrawn and in the negative. These accounts do end up costing the banks money. If you have been reported to these systems and you want to open … Continue reading →