Wednesday, February 13, 2013
WTF Moment - Overdraft Fees
I was talking with the nephew a couple of weeks ago about his financial situation because it still did not seem to be getting better. This confused me because he has lived with us for over a year and does not contribute to the household financially. Add to this the fact he no longer has a car and the plot thickens. I asked him if we could look at his bank account to try and determine where money could be going. OMG! I wanted to beat the hell out of him when we pulled it up. He had over $400 in overdraft fees in December alone. WTF? According to my calculations, an entire 2 week paycheck went strictly to covering overdraft fees to the bank. I tried to provide him with other ways of checking and maintaining his money. He has got to do better. He can't afford not to.
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