Fees are an obvious part of financial life - convenience fees, fuel surcharges, baggage fees, atm fees. In this tutorial, Jane Barratt gives tips for minimizing fees altogether. The first tip is to never take a loan from a payday lender. If possible, opt out of overdraft protection and switch to overdraft transfer which enable you to secondary accounts to fund your overdraft. Remember to use cash.
- Paying fees is a part of life.…There are convenience fees, fuel surcharges,…extra baggage fees,…account maintenance fees, ATM fees.…Fees and surcharges are everywhere,…and avoiding them can be something…of a competitive sport.…One of the biggest offenders in this annoying fee game…are financial institutions.…Their fees are not only high, but they also target…those least able to pay them.…First of all, you should know that banks…make a ton of money off fees.…Overdraft fees alone generate $27 billion…in revenues for banks, and it isn't getting any better.…
Free checking accounts have dropped…from 76% of all accounts in 2009 to 37% today.…And fees themselves have risen 21%…over the past five years.…By calling something a fee instead of a loan,…lenders can avoid regulators and charge whatever they want.…For example, if you buy a $20 lunch…but don't have the funds in your account to pay for it,…your bank can lend you the money to pay for the lunch.…For that loan, you'll get charged a $27 overdraft fee.…
For the sake of argument, instead of calling a fee,…
Skill Level Appropriate for all
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Ride financial ups and downs2m 23s
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