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Keeping it simple

May 20th, 2009 at 03:32 pm

I love watching money shows. Today I got the chance to watch "Maxed Out". It featured a couple who was so stressed out about their finances and dreams that the wife was in tears or on the verge of tears for the entire show.

Knock on wood. I hope I never get there.

An interesting point that the host mentioned is that with finances, you need to keep it simple. This couple had 15 bank accounts.

I'll come back to keeping it simple in a second. The couple was paying $150/month on bank fees. The host told them that they shouldn't be paying more than $100 in bank fees. What the hay?! This is Canada. There are alternatives. I pay $0.00 in bank fees because I bank at President's Choice (PC) and ING Direct.

PC gives unlimited debit card usage, which means: no charge for cash withdrawals, buying stuff, and writing cheques. Even the cheques are free.

It makes sense to keep your personal finance simple. I have decided to create a different blog for my other (equally important) goal of exercising and eating healthy, so that I can give the proper focus to each goal, and not bore finance bloggers on how my toned my tummy is getting Smile

Posted in Saving Money | 3 Comments »

3 Responses to “Keeping it simple”

  1. ceejay74 Says:
    May 20th, 2009 at 03:43 pm 1242834182
    1242834182

    I love "Maxed Out," and before that I watched "Big Spender." But "Maxed Out" is less exploitative and more real. I wish they would do follow-up shows so we could see how the people are doing a year down the road. It always seems like some of them embrace the plan and others aren't so into it.

  2. cottoncolors Says:
    May 20th, 2009 at 04:31 pm 1242837073
    1242837073

    $100 in bank fees? That's crazy. I'd keep my money under my mattress before I would pay that!

  3. Valerie Says:
    May 20th, 2009 at 05:36 pm 1242841001
    1242841001

    i enjoyed maxed out as well. it's a real eye opener. glad to be out of the CC business. debit card only.

    and i hate paying fees.

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