No. of Recommendations: 6
You also have lots of money. The other 99% of us live month by month and day by day, financially speaking.
That's no matter to the issue. Even when I was earning less than $20K a year and just scraping by I never had an overdraft.

Of course, I'm a PM, and I get paid to manage budgets and project details for a living. But even so, it's not that hard. It's a two step process: Step one - check balance (I used to balance my checkbook to do this). Step two, if enough money with draw funds, if not, then don't.

Overdrafts come from not paying attention, not simply lack of money. I actually did have an overdraft once in my life, and it was when I was earning a very good salary. By that time I had gotten lazy about balancing my checkbook, and I thought I had deposited a check that I had not yet (it was still in my wallet), so I bounced my rent check of all things. Man, was I embarrassed. I wrote an apology to my LL and got him a check from my other account that same day. But the bounced check didn't come from scraping by - it came because I was lazy about balancing my checkbook and tracking my funds.
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement