Tuesday, August 15, 2006


Do you ever wish you could go back in time and pay better attention to the first time you learned to balance your checkbook? It seems easy enough, but unfortunately too often we forget to write things down and the snowball effect happens. A member service representative found this site and wanted to share it:


Below are tips to avoid overdrawing your checking account from bankrate.com:
  • Enter every transaction into your checkbook register. Make sure to include everything: dates, checks, debit card purchases, deposits, automatic or preauthorized withdrawals or deposits and ATM withdrawals. Just as important, keep a running total of the balance of available funds.

  • Consider keeping a cushion of $100 or, in your case, as much as $900, that is not recorded in your checking account register as a buffer. When your checking account gets low, you will still have a safety margin.

  • Sign up for overdraft protection either from a savings account (where you could put the $900) or in the form of a line of credit. If you believe you will not abuse it, go ahead and sign up for this added protection.

  • Bottom line: If you do not have the money in your account, do not write the check, do not use your debit card and do not withdraw money that does not exist from your account.


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