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Posted
Jan 22 2009, 12:41 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Bank of America customers, here's some good news for you: If you paid an overdraft or over-limit fee after using a BofA debit card in recent years, you may be able to apply for $78.
The proposed lawsuit settlement, reported by TopClassActions.com, covers a time period from Dec. 6, 2000, to Dec. 31, 2007. It may also apply to customers of several other banks.
Other details:
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Posted
Jan 15 2009, 01:12 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
We have a 20-something friend who has struggled with debt most of his adult life. We've talked about better money management from time to time. He has said he would get it under control, and did -- from time to time.
Then he'd overspend and the credit card bills started growing again, prompting, we suspect, a lot of worry and some self-loathing.
Now, he's reached his breaking point: He had to borrow money from a friend to pay the rent. (Thank goodness he realized that a payday loan would only aggravate the situation.)
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Posted
Apr 01 2009, 08:29 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from partner blog The Dough Roller.
Lately I've become overwhelmed with clutter. Everything from my office to my home to my finances is filled with unnecessary stuff.
All this stuff creates stress and reduces efficiency. Just the other day my wife and I spent one hour searching for two bills that, as we eventually learned, were at the bottom of a pile of stuff on our kitchen counter. And now I am just plain fed up with all this clutter.
So I've started embracing what Leo Babauta (famed blogger of Zen Habits) calls "The Power of Less." In his new book of the same title, he describes "the fine art of limiting yourself to the essential ... in business and in life."
That's what I'm trying to do, beginning with our finances. Here are 10 tips to help you de-clutter your finances:
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Posted
Dec 15 2008, 05:37 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from J.D. Roth at partner blog Get Rich Slowly. In the past, many Get Rich Slowly readers have sung the praises of the "adult allowance." Though I've read enthusiastic comments supporting this idea, I've never paid it much heed. To be honest, it's always sounded lame, and I didn't think it would be useful to me. I was wrong. Accidental allowance Before our short vacation in early October, I pulled $200 out of the ATM. This is unusual for me. I don't like to carry a lot of cash. I find it easier to track my spending when I use credit or debit cards.
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Posted
Feb 24 2009, 07:00 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This guest post comes from Jason at Frugal Dad.
Talk about kicking people when they are down. Recent news reports have shed light on several large banks charging bank fees to customers for the privilege of accessing their unemployment benefits.
Many states are partnering with banks to issue funds on a prepaid debit card, rather than cutting paper checks, in an effort to reduce costs. The problem is, banks are then turning around and hitting unemployed workers with fees for everything from accessing their money to calling for balance inquiries.
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Posted
Mar 26 2009, 03:21 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Raise your hand if you've been socked with a big overdraft fee because of one tiny debit card purchase. Yep, we figured. It's more common than some of you may think.
Rather than denying the purchase, the bank lets it go through so it can ding you with a fee that often approaches $40. If you're unaware that you've overdrawn your account, you could face hundreds of dollars in fees.
Now is the time to demand an end to this practice. You have until Monday (March 30) to register your complaint with the Federal Reserve.
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Posted
Sep 23 2009, 02:13 PM
by
Teresa Mears
Money Blog: Smart Spending Blog - MSN Money
Here's a small victory for consumers:
Bank of America and JPMorgan Chase are planning to overhaul their debit card programs, changing the way they credit transactions and allowing customers to opt out of overdraft protection.
We'd like to think they're doing it because that's what the customers want, but they might have been just a teeny bit influenced by moves in Congress to crack down on overdraft fees.
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Posted
Oct 19 2007, 09:41 AM
by
Donna Freedman
Rating:
Money Blog: Smart Spending Blog - MSN Money
Losing a debit card. Cleaning out the garage. Buying a condo, or not being able to buy a condo. Living out of a suitcase. Wanting to stay home with the kids but fearing you can't afford it.
All these were defining moments that turned spendthrifts into thrift-thrifts. A reader posting as "bigdreams" solicited such tales in a Smart Spending message board thread called "Switching from being a spender to a saver -- what was your 'aha' moment?"
Some "moments: were epiphanies, others slowly dawning realizations. Readers variously described their experiences as a slap in the face, a kick in the butt, a good hard look at oneself, a God-given wakeup call, the sudden glimpse of a bleak future.
However they arrive, aha moments carry the same basic message: Something has to change.
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Posted
Mar 31 2009, 08:40 AM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
This post comes from Jim Wang at partner blog Bargaineering.
Banks offer a lot of services and features. You probably know most of the popular ones. Heck, you probably know most of the not-so-popular ones.
However, I am pretty certain that there is at least one thing on the following list that you didn't know about before. And if I'm wrong, I invite you to look at these "7 unwritten and often forgotten credit card secrets," and hopefully between the two you'll learn something new that will save you some money in these difficult times.
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Posted
Apr 22 2009, 06:01 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from partner blog The Dough Roller.
Bank overdraft-protection programs at first glance seem like a great safety net to have in place. Should you overdraw your checking account, an overdraft-protection plan can kick in to cover the shortage. And because the bank cleared the check, you avoid insufficient funds fees that can hit $35 and the embarrassment and headaches that come with a returned check. Banks do charge interest on the money until you repay it, but for most, the interest charged is just for a day or two until the next payday.
The problem with these programs, however, is the ridiculous and often hidden fees that banks charge. We'll come back to the fees, but first, let's take a look at the types of overdraft-protection programs banks offer.
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