Are bank fees eating up your paycheck? If so, there are some things you can do to discipline yourself so that you are not faced with unnecessary problems robbing you of your hard-earned money. The key is to be assertive with yourself and others and keep an eye on that calendar too!
1) What is due next? Do you have reminders set? There are apps and online calendars that you can set to recur daily, weekly, and monthly to stay on track with your bill payment dates.
2) Have your partner or close friend hold you accountable. With a friendly or strict reminder from a loved one, you will most likely do what you are supposed to so that you won't end up arguing a useless defense one day. "Okay, I confess, I mess up my money...that's why I need your help!"
3) Put money aside based on your needs (utilities, rent, emergency savings...) not wants (Paris trip, designer shoes, luxury vehicle...) List your needs. This way you know you are going to spend about the same amount of money each paycheck. If you have money left over, then use it to gain more money to finance your dream like start seeking ways to invest it. Always anticipate sudden expenses, you never know what might happen right around the corner. Here is a system worth trying-- a financial budget.
4) Pay your bills online. This helps with keeping track of where your money is going. Filter your deposits, now take a look at your credits. Notice the changes you can make with your spending. Do take a moment to note any adjustments you can make to save money. You might need to cut off some things for awhile, change companies, or sit down and converse with someone about the current cost of things.
5) Search for banks with high interest checking and/or savings account. Place money with banks that don't charge monthly and overdraft fees.
6) Lastly, if you simply can't stand your bank any longer, switch banks. Here is one worth noting and I personally recommend. Easy to manage, set up checking and savings account online with no need to sit down and talk to someone. Take a look at site.
Take the time to learn more about managing your money. In time, you will be so glad you did when you see all the money you have saved and invested.
Nicholl McGuire
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