If you have ever missed a payment or gone over your overdraft limit then you will know about the expensive fees that you have to pay. One late payment can trigger a fee that puts you over your overdraft limit, hence leading to another fee. If you want to avoid spending money on bank fees then here are some useful tips to help you.
Create a schedule
The first thing you need to do is to create a payment schedule for the bills that you need to pay each month. If you know exactly when and how much your bills are likely to be then you will be better prepared to pay them when the time comes. If there are bills that can be paid at any time of the month, then schedule a time that is most convenient for you.
Prepare a budget
Once you know when and how much your bills are going to be, then you should create a budget to plan how much money you require each month in order to pay your bills. If there are bills that you are unsure about the exact amount, then it is better to overestimate, as this will keep you safely within agreed monetary limits. Creating a budget will help you to spend only what you can each month so that you avoid overdraft fees.
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