Ways to Avoid Additional Fees
No matter what kind of financial institution you choose, there are several Money Wise things you can do to avoid having additional fees assessed, and thus save money.
- Keep track of how much you use your debit card and how many checks you write. Keep debit card receipts and enter them into your checkbook’s ledger every night.
- Online banking is not just the future, it’s now. If you haven’t signed up for online banking at your financial institution, do it now. Log in every day to check your balances and see whether anything is amiss. It’s the fastest way to spot fraudulent activity and stop it.
- Consider overdraft protection. If you link it to a savings account, you won’t have to pay the interest that you would pay on a credit card or personal line of credit.
- Avoid using ATMs at other institutions.
- Get cash back when using your debit card at grocery stores and other retailers that offer the option.
- Make sure your financial institution offers free checking and savings. Many do.