Avoid Bank Fees, Please

robbed atm
We usually focus in areas where you can save money. Today we are focused in areas where you can avoid being taken advantage of by evil-doers.

Today’s stop? The bank.

Avoid Check fees. This is all about making sure you create a pad in your checking account where you never overdraw your checking account. Period. Seek a banking relationship that allows flexibility and do your best to make sure you have 101% of what you need on any check or debit before making any purchase. Don’t deposit and then assume. Make sure it counts as “in your checking” before you use the money. Banks are tricky and they are not the Red Cross. They want more of your money – don’t give it to them.

Avoid ATMs where they charge a fee. We could make this rule more complicated, but let’s just say banks are charging you between $1.50 and $5.00 to access YOUR MONEY. Stupid. Don’t let them. Go to your bank. Use your ATM at your bank or don’t use an ATM at all. If your bank charges you to use an ATM, leaver YOUR bank.

Transaction fees. These are charges for teller and phone fees. Flat out – if your bank charges you these, you have the WRONG bank. Move your money. You are a consumer – even in banking – and you can vote with your money.

Want to avoid extra fees you should not pay at the bank? They are required to give each new customer a “Truth in Savings Disclosure” detailing all fees. Read it closely. Ask questions BEFORE you sign. This is your money – not theirs.

Always ask for a bank manager when any bank employee gives you the stonewall about fees and always vote with your business.


In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at http://www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford


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