Dan's Money Saving Minute #004: Switch Your Bank Accounts

This week's video asks the questions:
"Is your bank earning your business" and "what to do if they aren't".
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Do you have a good relationship with your bank?  Is your bank paying you interest on your checking?  More importantly, does your bank nickel and dime you with miscellaneous fees?  If you are losing money to your bank each month then it may be time to think about switching.

 

When you find a bank that wants your business, switching is not difficult, but it does take a little time and planning.  This planning and time are the main stressors that keep customers with their current bank and consequently keep them paying unnecessary fees.  But really, switching is not that difficult.

1. Open the new checking account. The first step is the most obvious one.

2. Make a detailed list of all automated withdrawals and deposits from your current account.

3. Balance your checkbook. Make sure you’ve accounted for everything outstanding so there are no surprises during the transition.

4. Switch over all of your deposits then all of your withdrawals.  If you are concerned that a withdrawal may come up before your deposits catch up to your new account then you may want to temporarily link those withdrawals to a credit card – preferably one that pays you a bonus.

5. Leave the old account open with a small balance for a couple of months just to be sure that you have switched over all of your deposits as well as auto drafts.

6. The last step is to close the old account.

This has been money saving tip number zero zero four.  It’s your money and watching the The Money Saving Minute each week will help you keep more of it.  Click to the right to subscribe so you don’t miss out on any money saving tips and please click the facebook button below to share this with your friends.

Dan's Money Saving Minute #003

Make a

List Before

You Go Shopping

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A few minutes of planning could save you a bundle as well as save you the time and fuel of multiple trips to the store.  Your shopping list should start with a plan.  I know it’s not east to know on Wednesday what you are going to want for dinner on Saturday but there are ways around this.  Instead of planning what day you are going to have something, just plan the meals.  Then you can decide during the week which day you will have each meal.  Next, make out your list. Finally, take a few minutes to look for coupons and sales.  Once you get to the store make sure that you stick to your list.  Don’t be swayed by in store sales to buy more.  Instead, substitute a planned meal for something that you found on sale.  Your time and preparation will pay off if you stick to your plan.

 

This has been money saving minute number 003.  Subscribe to the left so that you don’t miss any of our money saving tips and click below to share this with your friends.

For information about financing the home of your dreams, refinancing your current home, 203k home restoration loans or loan options such as no PMI conventional loans, FHA and VA loans or first time
home buyer education please contact Dan Dahlen Inlanta Mortgage Home Loan Specialist at
262-754-6473 or email  DanDahlen@inlanta.com

I hope you enjoyed and will visit again soon.

Money Saving Minute #002
The 30 Day Rule
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Money Saving Minute #002, The 30 Day Rule.  Some things we need to buy and other things we want to buy.  First decide which are needs and which are wants.  Second, be careful not to over justify wants as needs.  Ask yourself if you can live without the purchase for thirty days or if it's absolutely nessessary that you have it right now.  Take the wants and put them on a thirty day list.  Consider this kind of a cooling off period.  Quite often you will find that the urge to buy has passed once you reach the thirty day mark and you will have saved yourself some money.  This will also give you time to consider how to pay for your purchase.  Often times when we want something and we want it now we slap down the plastic and figure out how to pay for it later.