7. Overdraft fees
: If you overdraw your account and the bank uses its money to cover your negative balance, it deserves to be compensated. But how much? According to this article at CNBC
, overdraft fees average from $30 to $34 nationwide. Charging a $34 fee for a one-week loan equates to an annual rate of 5,000 percent. Workaround
: Link your savings to your checking account for overdraft protection. This might result in a transfer fee, but it will be lower than an overdraft fee.
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: 7 Ways to Radically Reduce Your Restaurant Checks 10 Money Mistakes That Can Ruin a Marriage 21 Things You Should Never Pay For The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.