Overdraft Fee Bluez

So I have been reading about this new bill being passed about stopping banks from charging fee's for over drafting bank accounts. While I think this is totally ridiculous (though im not for banks) I still don't find it feasible that the government should have to step in a save people from themselves. Are the fee's ridiculous? absolutely but people need to learn a lesson called accountability for there own money. U.S. banks will collect a record $38.5 billion in overdraft fees this year, according to a recent CNN Money article. These overdraft fees accounted for more than 75 percent of service fees charged on customer deposits. As I researched this topic a little more I discovered what the banks actually are charging people.

Bank of America : When you do not have enough available funds in your account to cover an item, and we decline or return the item unpaid (a returned item), we charge a $35 NSF: Returned Item Fee.

Chase Bank : The first overdraft within a 12-month period is charged at $25, the second the fourth at $32 and the fifth at $35.

Suntrust Bank: Charges the highest overdraft fee for a single overdraft at $36, according to to the Consumer Federation of America

Citizens Bank : Charges a $39 fee after three overdraft items and follows with two separate "sustained" overdraft fees for repeat offender

So what can we do to protect ourselves against these fee's? Simple, you must do a budget, know whats coming in a going out each month. Write how much money you have at the top of a sheet of paper and write down what you are going to do with it.

Sounds simple I know but so many people are spending money they don't have that it is costing them hundreds of dollars a year. Its time to start being responsible with our money and stop being lazy. Balancing a check book is just as important as waking up on time for work so lets not continue to neglect this area of our lives. Pledge today to never be a victim of overdraft fee's ever again because you are an adult who knows how to manage money.