Online Banking Basics: A Guide (page 4 of 4)

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Total Money Saved

If you use all the tips we’ve shared, you stand to save BIG. Here’s a sample budget:

CATEGORY

BEFORE

(monthly)

ONLINE

(monthly)

YEARLY SAVINGS

Savings

$10,000 @

0.7% APY

$10,000 @

4.5% APY

$380

Checking

     Service Fee

     Checks

     Overdraft Fees

       (4@$29 each)

     Late Fees

       (1@$38 each)

 

$15

$3

$116/year

 

$38/year

 

Free

N/A

N/A

 

N/A

 

$180

$36

$116

 

$38

Mortgage

(autopay)

$1,200

$1,170

$360

Groceries (with cash-back card)

$400

$388

$144

Tax Preparer

$115/year

Free

$115

Pay Bills

$4.92

(stamps)

Free

$59

Home Insurance

(autopay)

$2 billing fee

Waived

$24

Dry Cleaner

$120

$60

$720

Restaurants

(restaurant.com)

$25

$10 for

$25 certificate

$180

"Keep the Change"

$0

$20.83

$250

BOTTOM LINE

                                            $2,602

 


From Reader's Digest - March 2008
 
Additional reporting by Bridget Nelson Monroe
Must Read Should Everyone Read This? Yes! I vote for this story
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Remaining Character Count:
 
i would seriously recommend online banking as you have a always available detailed summary of your account. The bill paying facilities are easy and money transfer is aswell,

By crackers123, on 10/24/2008

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