WEALTH: How to Stop Overdraft Banking Fees


In the Great Depression, you bought something if you had the cash to buy it.”  — S. Truett Cathy

I remember when my kids were young, we would drive up to the ATM and I would give them a lesson on the concept of banking.

I give the bank our money to keep it safe, and use this card to have them give enough of it back so that I can buy groceries for the week”, I would tell them.

I repeated this message month after month, hoping that they would understand this basic concept of finance.

Banks are a good place to store your money, but they also have rules that cost a lot to you if you break them. Here are a few tips for you:

Check your account balances, often.

If you try to take out more money than you are storing, you will have to pay a penalty. This can happen if you write someone a check and they try to cash it but you forget to make sure there is enough money to cover it. It can also happen if you set up an automatic payment, and again the money stored in your account is not enough. The penalty: Around $35! YIKES!

Create a $1000 overdraft buffer.

Often, there is a monthly fee for using their cash storage services, though many banks have accounts that wave the fee if you keep a minimum balance. When you are younger and just starting out, this is a little tricky, but worth it if you can commit. I recommend keeping a $1000 overdraft “buffer” in your account, just in case.

Write down everything you spend and develop a budget.

Knowledge is power, and knowing how much you need to have to support yourself is ESSENTIAL. This will take some time, but completely worth it!

Pay CASH for most things.

The easiest way to manage your spending is to pay CASH for everything. (WHAT?) I used to withdraw my monthly budgeted “household money” for food and fun, and keep it in an envelope. That’s ALL I would spend for the month. (More often than not, I would scrounge for change in pockets and on the car floor to make it through the last days.)

Q: Do you have any other suggestions for the community?


I’m here to help you release self-doubt then hone your unique strengths so you can live the life you’ve always dreamed of. 



Get help, if you need it.

I am always here to help you. Schedule a free 30-minute ASK ME ANYTHING call, or book a coaching session with me.


What are your strengths? Find out here.


You might also like…

Elevate Your Yoga Experience with Essential Oils: A 12-Month Journey

Elevate Your Yoga Experience with Essential Oils: A 12-Month Journey

Namaste, lovely souls! You all know that yoga isn't just a physical practice; it's a holistic experience that involves your mind, body, and spirit. But what if I told you that you could amplify this unity through the power of nature's elixirs—essential oils? More Than...

Unlocking the Magic of Authentic Living Through CliftonStrengths

Unlocking the Magic of Authentic Living Through CliftonStrengths

"Each person's greatest room for growth is in the areas of his or her greatest strength." - Donald O. Clifton Introduction Have you ever stopped to wonder what you're naturally good at? What if you could leverage those innate talents in every area of your life?...

The Magic in Your Natural Talents: A Beacon to Your Best Self

The Magic in Your Natural Talents: A Beacon to Your Best Self

Hey, lovely souls!  I'm feeling over-the-moon excited to talk about something that holds a special place in my heart: Recognizing your natural talents. This isn't just feel-good jargon; it's the cornerstone of a fulfilling life. Your Personal Powerhouse  First off,...