$368 in overdraft fees !!!

**Contrary Housewife** · 01-27-2009, 03:51 PM

I'm astounded to see that "the average household pays $368 in overdraft fees each year".

Since I had no overdraft fees last year, that means someone paid $736, and quite likely a lot of someones paid more than that.

No wonder our economy is a mess. There's a lot of people out there seriously out of touch with their financial reality.

http://www.smartmoney.com/Spending/D...in-Settlement/

**Greebo** · 01-27-2009, 03:55 PM

Originally Posted by Contrary Housewife

I'm astounded to see that "the average household pays $368 in overdraft fees each year".

Since I had no overdraft fees last year, that means someone paid $736, and quite likely a lot of someones paid more than that.

Shame on you! Go pay some overdraft fees right now so someone who needs that money more doesn't have to pay as much!

Seriously, though - those are some SCARY numbers...

**Bournecrazy** · 01-27-2009, 03:59 PM

Ive not had one since ive been here - about 8 months now. but before then i racked up about 300 in the first 5 months of last year, aswell as the 400+ over the 2 years before that.

**Debbie-cat** · 01-27-2009, 04:03 PM

I have not had overdraft fees in years. I decided then to stop it and start living within my means. I have heard alot of people live in their overdraft....scary!

**Ians Mama** · 01-27-2009, 04:06 PM

dang!!!!!!!!!!!

The most I've ever paid is 3$ cause I didn't move money from saving to checking quick enough, and even paying that irked me. I couldn't imagine paying hundreds each year.

**StaceyS** · 01-27-2009, 04:07 PM

Ugh! I haven't either since I've been here.
I just can't beleive that if "we've" paid that much, why did we need to give them a "bail out"????

**homesteadmamma** · 01-27-2009, 04:08 PM

I don't have them either.

**Bournecrazy** · 01-27-2009, 04:22 PM

Originally Posted by Debbie-cat

I have not had overdraft fees in years. I decided then to stop it and start living within my means. I have heard alot of people live in their overdraft....scary!

Im living in mine - but then its only 190 overdraft, because i budget every penny of my cash i will normally end up back near the -190 mark by the end of the pay period, but i am saving to get out of it and i shall be out of my overdraft next week

So happy to be able to get out of it, im paying interest of about 2.30 a month on interest, for once i would like interest paid to ME!

**MomToTwoBoys** · 01-27-2009, 04:26 PM

We have overdraft protection on both checking accounts and that came free. People spending that much each year on overdraft fees is a prime example of overextension of one's resources and poor planning.

**annymoll** · 01-27-2009, 04:51 PM

I have never had an overdraft fee. I balance my checkbook,keep an amount above our monthly debits. It also helped in that when we were trying to put DH through school, if we had no money, we sure as h*ll didn't write a check. Dumb people do that.So they have to pay.

**mombottoo** · 01-27-2009, 05:42 PM

Well someone is paying way more than that, because we don't bounce checks...therefore, we never have overdraft fees.

**IntlMom** · 01-27-2009, 06:21 PM

never had an overdraft fee in my life........I cannot even imagine~

**sunshine** · 01-27-2009, 07:12 PM

Originally Posted by IntlMom

never had an overdraft fee in my life........I cannot even imagine~

Same here for us.

**Michelle68** · 01-27-2009, 08:18 PM

We haven't had any in over 15 years because we now keep a "cushion" in our account to avoid any problems and I also balance the checkbook weekly. It's hard to believe that the average household pays that much in fees.

**HisDaisy** · 01-27-2009, 09:22 PM

I have had a checking account for at least 15 years and have never had an over draft charge. I am always checking the balance and keeping track of payments. I can't afford to bounce checks. I need all the money we bring in to live on.