2-10-06
At the branch bank where I work, we spend a lot of time helping customers with problems.
The main problem we encounter is customers having their accounts screwed up.
This isn't just with the less literate customers. Some of our smartest and best customers have problems at time, not just the ones that find out the money is gone before the month ends.
The customers will come in wondering why their account is off or overdrawn.
Some of the reasons for this are not writing down a check or especially not factoring in an ATM withdrawal or using the check card.
Then when the account gets short, they get hit by NSF fees.
There are plenty of ways to keep track of your accounts and not run into the problem If you are running out of money before the month ends, you will have to look at some of my other blogs.
Here are a few suggestions on how to better keep track of your finances.
1. If you have a computer, purchase some of the software available such as Microsoft Money or Quicken. These are easy enough to use and very effective.
2. If your bank has online banking or a number to call and check your balance, do that EVERY day.
3. Make sure you write down the correct amount of your debits and credits.
4. Double check your additions and subtractions. Yeah, we're all smart but some times even the smartest people write something down wrong.
5. Find out what your bank's balance is for free checking. Act like that is the 0 figure in your account and try not to go under that figure. That will keep you from having to pay bank charges or NSF hits. If you ever mess up, you might have to pay the monthly bank charge, but you won't ever go below the dreaded no money in the account.
6. Make sure you write down the correct amount of your debits. Keep your receipts and match them up as soon as possible.
7. When you get your statement, reconcile your account as soon as you get it. Make sure everything matches up. Yes, you make mistakes, but so does the bank. If there is a problem, contact the bank immediately and get it straightened up.
8. Get a budget and follow it as closely as possible.
9. Have a savings account tied to your checking account. If your balance on the checking account goes negative, the money in your savings will automatically transfer over. Some banks charge for this, although I have never thought that was fair, but the charge for this will still be less than an NSF charge.
10. Never give out account information. There are so many crooks out there now just trying to get access to your account. Sometimes there are unauthorized debits to your account. Checking the balance daily and going over your statement will alert you to any problems.
Hopefully this will be useful and might save you some money. I know it can be a pain to do all this, but it still beats paying charges or having a check returned and then getting even more charges.
The main problem we encounter is customers having their accounts screwed up.
This isn't just with the less literate customers. Some of our smartest and best customers have problems at time, not just the ones that find out the money is gone before the month ends.
The customers will come in wondering why their account is off or overdrawn.
Some of the reasons for this are not writing down a check or especially not factoring in an ATM withdrawal or using the check card.
Then when the account gets short, they get hit by NSF fees.
There are plenty of ways to keep track of your accounts and not run into the problem If you are running out of money before the month ends, you will have to look at some of my other blogs.
Here are a few suggestions on how to better keep track of your finances.
1. If you have a computer, purchase some of the software available such as Microsoft Money or Quicken. These are easy enough to use and very effective.
2. If your bank has online banking or a number to call and check your balance, do that EVERY day.
3. Make sure you write down the correct amount of your debits and credits.
4. Double check your additions and subtractions. Yeah, we're all smart but some times even the smartest people write something down wrong.
5. Find out what your bank's balance is for free checking. Act like that is the 0 figure in your account and try not to go under that figure. That will keep you from having to pay bank charges or NSF hits. If you ever mess up, you might have to pay the monthly bank charge, but you won't ever go below the dreaded no money in the account.
6. Make sure you write down the correct amount of your debits. Keep your receipts and match them up as soon as possible.
7. When you get your statement, reconcile your account as soon as you get it. Make sure everything matches up. Yes, you make mistakes, but so does the bank. If there is a problem, contact the bank immediately and get it straightened up.
8. Get a budget and follow it as closely as possible.
9. Have a savings account tied to your checking account. If your balance on the checking account goes negative, the money in your savings will automatically transfer over. Some banks charge for this, although I have never thought that was fair, but the charge for this will still be less than an NSF charge.
10. Never give out account information. There are so many crooks out there now just trying to get access to your account. Sometimes there are unauthorized debits to your account. Checking the balance daily and going over your statement will alert you to any problems.
Hopefully this will be useful and might save you some money. I know it can be a pain to do all this, but it still beats paying charges or having a check returned and then getting even more charges.
posted by Craig Hall | 4:01 AM
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