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I have never had to pay a bank overdraft fee, however many of my fellow citizens evidently pay millions (billions?) of dollars unneccessarily. Why?
What with a bad economy, unemployment, and a dismal housing market to worry about, you might be tempted to ignore this issue. But if you've ever had to pay a nasty $35 charge for spending more than what you had in your bank account, this is one debate you need to participate in, urges Consumers Union and the Center for Responsible Lending.
The Federal Reserve has proposed a rule change giving customers the right to instruct their bank whether to pay or not pay overdrafts for automated teller machine (ATM) withdrawals or one-time debit card purchases.
http://finance.townhall.com/columnists/MichelleSingletary/2009/03/26/on_overdraft_fees,_time_to_say_no
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I got into a real mess when I was younger with overdraft fees and never want to go down that road again.
I suppose that you now consider this as payment on part of your financial education huh? As you learned your lesson, it's probably money well spent.
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Financial education is a tough road for sure. Seriously, I don't know whether school curriculum's have modernized over time but that's one subject that should be taught that kids can't opt out of. Knowing how to manage your money when you get your hands on that first pay check or grant would be a heck of a lot more use than being able to spout the chemical symbol for magnesium.
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Financial education is a tough road for sure. Seriously, I don't know whether school curriculum's have modernized over time but that's one subject that should be taught that kids can't opt out of. Knowing how to manage your money when you get your hands on that first pay check or grant would be a heck of a lot more use than being able to spout the chemical symbol for magnesium.
It is up to us, not the school system, to educate ourselves in that ways of finance. The schools have too many other things to do i.e. prepare students for standardized tests, organize/decorate the gym for the prom, make sure that the marching band has spiffy uniforms, etc.
Acquiring a solid financial education is not really that difficult, we just have to want to get it done. Just like any endeavor in life that we really want to accomplish...
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Financial education is a tough road for sure. Seriously, I don't know whether school curriculum's have modernized over time but that's one subject that should be taught that kids can't opt out of. Knowing how to manage your money when you get your hands on that first pay check or grant would be a heck of a lot more use than being able to spout the chemical symbol for magnesium.
It is up to us, not the school system, to educate ourselves in that ways of finance. The schools have too many other things to do i.e. prepare students for standardized tests, organize/decorate the gym for the prom, make sure that the marching band has spiffy uniforms, etc.
Acquiring a solid financial education is not really that difficult, we just have to want to get it done. Just like any endeavor in life that we really want to accomplish...
Those starched uniforms are essential. Every kid should have shiny brass buttons. I wonder how many of the dollars allocated for funding goes towards those activities?
Our schools need to get their priorities right. Isn't an education supposed to prepare you for life? My life isn't marching bands and proms, never has been. How many kids left school or college and kept up activities like cheerleading, football or band practice even for a year after that? Wasted hours if you ask me.
I got into a real mess when I was younger with overdraft fees and never want to go down that road again. Is this a sly way for the banks to charge more? This shouldn't be automatic. Opt -in should be offered.
Show me your garden and I shall tell you what you are. - Alfred Austin