Banks offer us many convenient services, but they hardly do so out of the kindness of their hearts. Almost any little service imaginable that a bank provides has at least a small fee associated with it. These fees individually are usually small, but together can add up to a great deal. Better understanding these fees and how they’re triggered should give a greater ability to judge how useful they are in relation to the cost and whether or not they should be avoided in the future.

- Overdraft Protection/Fees

An overdraft is like a self-incurred NSF, or insufficient funds charge. If you try to withdraw funds from this account when there are not enough to do so, you’ll incur an overdraft fee, even if the bank hasn’t actually done anything on your behalf. This most frequently occurs when one cashes a cheque that they believe will be deposited to their account immediately, but in actuality is held up for some days, common with personal or out-of-area cheques.

Some accounts will provide overdraft protection, whereby the bank will actually cover the cost of the amount even though you can’t fund it, effectively giving you a small line of credit. Most overdraft protection will be fixed at a relatively small rate, as little as $50. You’ll be charged anywhere from $20 to $35 for using this service as well as interest on the negative account balance, making this a costly option.

- Wire Transfers

Wire transfers are a convenient way to quickly send money to an individual or company, foregoing the need for the need for lengthy payments via mail. These services are also costly though, with international transfers up in the $15 range.

Internet banking may offer you the same capability for a fraction of the cost, so this would be the ideal method to pursue for this type of transaction first.

- Monthly Fees/Minimum Account Balance Fees

Most banks will charge a monthly fee which is usually waived if your account has a good degree of money held in it, usually $1,000 minimum. These monthly fees are usually no more than $5.

- Debit Card Fees

Virtually all banks offer their customers debit cards that can be used to directly access fund from their accounts for daily purchases at just about any location. Money can also be withdrawn from any ATM.

Debit card purchases will usually incur fees ranging from .75 cents to $1.50, though some cards may actually charge nothing. Withdrawals from ATM’s on the other hand usually have at least a .75 cent minimum fee, plus an additional charge that the company operating the ATM levies on anyone who makes use of it, often an additional $1-$3.

- Miscellaneous Fees

These can be wide-ranging, and each bank usually has a couple of these neat little fees in their arsenal. You may be charged for excessive amounts of withdrawals or general account activity, charged for using the tellers, charged for calling their toll-free lines to get information, if you can dream, they may charge you for it. All of this information will be hidden somewhere in their terms, or should come to light eventually through scrutiny of your bill, so be sure and avoid any unnecessary extra fees.

- Conclusion

Banks provide a valuable service above and beyond just our basic banking accounts, credit cards with low APR rates, and our economy would not be able to function correctly without them. This doesn’t mean we need to blindly give them fees at every turn though. Banks do quite well with or without your fees, so make sure you’re giving them as little as possible by knowing the most common fees and alternatives to using them.

Aren’t personal budgets fun? Just kidding. Although we do not care for them, all of us could find it beneficial to set up a home budget. Our financial situation can get out of control if we don’t exercise caution,having a way you can track your spending is helpful. If you are unsure of where to start, some kind of computation software may advance your agenda.

This will answer the question if it is necessary to use financing software. One must consider one’s own disposition. For the most part, a budget that is just easy to start withj Papers from bills and paychecks should be kept together for at least thirty days. Once the month has reached its culmination, put them in writing.

Recording your information is easier with financing software. Popular software such as Quicken and Microsoft Money are pre-configured with categories that allow you select the one that fits your task most closely. When you enter your beginning bank balance, they do all of the calculations for you. Microsoft Money comes with machines that have Microsoft Office automatically installed on them.

Drawbacks software does have. There is the necessity of entering each and every transaction into the program. You can perform it weekly, but it has to be done if you want the software to do its job. Not everyone has time to sit in front of the computer. It might be necessary to draw straws if you are unable to find a volunteer.

There are duplicate entries for this information. Scribe in on your check register or take a note on the ATM reciept to later enter into the computer. It is rare to find a bank that will not allow you to conduct business on the Internet. You can check your account as often as you like. Since all transactions don’t post immediately, As they do get posted, you will need to check them off Don’t make the mistake of thinking that there is more money in the account than there actually is.

Online banking eliminates the waiting to view your account activity. It also lets you keep track of funds without the software. Avoid any issues by utilizing similar sections as there aren’t any specific sections posted Make sure that your check register has generalized categories for each type of transaction.

People can track expenditures without having a computer available to them. Use a lined ledger book to create a spreadsheet. They can be purchased at any store. You should always record checks and make a point of keeping ATM receipts to record in your ledger book at a later time. In order to ease the act of correcting mistakes, a pencil should be used. Members of your family can view the book anytime if you place it on the most visited area in your home. Keep the personal information safely, hidden from the eyes of anyone outside the family

Financing software is a great thing to have but it is not necessary for most people. If your situation is complex or you are always on the go, PDA software that you can access on line can help you achieve your financial goals.