Getting Rid Of Over Limit/Late Fees For Good

One of the ways I’m still throwing good money after bad is through bank account and credit card fees. Especially those mind-blowingly expensive late and over limit charges.

For October 2007 alone I paid out $55 in over limit fees, plus $12 in transaction fees.

This is all on top of the $400+ in interest payments of course, and those charges will incur even more interest until I can get these cards paid off for good. This is a ridiculous and completely preventable situation for me to still be dealing with.

I’m making sure this ends now by getting all my cards back under their limits with my first pay yesterday, having all minimum payments, plus the $10 extra per month I pay on each, paid into them on or before November 16. Then the last pay on November 30 will work as a buffer going into December.

Blueprint For Financial Prosperity says I shouldn't be paying any fees on transaction accounts at all, so I’m also going to consider shopping around for a new everyday account. I need something with unlimited free online transactions though, as that’s how my payments and budget distributions are set up.

No Credit Needed has an excellent series on 33 Days and 33 Ways to Save Money and Reduce Debt, which got me thinking about how I too could work Eliminating Fees, which is day 1 of 33.