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Musings
Are You Throwing Away Money? 
Ever since the laws were changed that limit how much a bank can charge for credit, they have become predatory about other charges. Their reasoning is that since one income stream has been curtailed, they have to create others. These fiscal policy changes have not only had no effect on their bottom lines, in many cases they are creating monster profits. Have you checked lately on what your bank is charging you to use your money?
If you haven't analyzed your account recently, now is the time. When you opened your account you were given a list, in very small print, of what your account would cost. That was then; you should get a newer copy of the bank's service charges and disclosures to see how the fees have changed. Beware, you may be over whelmed.
Most of us are familiar with stop payment charges or overdraft fees and don't mind paying them if we have made an error, but many of the other services that used to be included are now pay as you go; the bank may charge you a monthly account fee to hold your money plus a fee to take out your money, either cash or ATM, use a teller or even make deposits. There are few guidelines to how much they can charge, and for what; they usually charge as much as they can get away with. You may even be charged for using the bank too often, or not often enough, not maintaining a minimum balance.
Today's financial climate has created a culture of entitlement; "we are entitled to X$ profits, and we don't care how we get them." Just the same as governments try to increase income, instead of cutting expenses, so do financial institutions. The only relief in sight is banking with Credit Unions. Because they are member owned their fees tend to be less than banks, but check their fine print, they have some strange fees, too.
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Your Coffee Break
