Tip #4: Save Money By Switching Banks

The Facts

Credit Unions offer more benefits than banks do. Some extra benefits they offer are higher interest rates on investment accounts, lower interest rates on loans, lower fees (sometimes no fees) and much more security for your money.

Banks on the other hand will go as far as charging you for calling CUSTOMER SERVICE. NSF Fees can be an arm and a leg and interest rates can be variable. With all the debt banks are headed towards do we really want to be the ones to pay high fees to institutions that may not even be around when we need them the most?



The Scenario

I am 23 at the moment but have had an account with Key Bank since I was 6. Growing up we just assume a bank is the best place to keep your money because its the only financial institution many of us are aware of . Well lucky me, I landed a job at a credit union half a year ago and discovered the world of credit unions. The savings and insurance credit unions offered put things into perspective for me.

Key Bank was full of so many hidden fees and unfair practices.
Here are a couple of unnecessary charges to start off with.

1. Mini statements have a fee of $1.00. It is an option on the ATM machine, yet when you print them out Key Bank does not inform the member they will be charged $1.00. A mini-statement prints out a receipt with your last 10 transactions.

2. NSF Fees of $37.00. No explanation needed. Lets just admit it. Everyone has incurred an NSF at least once in their lives. For many of us its just a miscalculation that causes this or someone you wrote a check to waits 4 months to cash it. Let this happen once or twice in one night and you owe more than $70.00 to the bank.

3. Overdraft Protection costs $25.00 per year. Shouldn't it be free? They already charge you a $5.00 transfer fee each time you use the overdraft protection.

4. Variable interest rates. Who wants to owe a bunch of money to a bank that can decide to inflate interest rates whenever they feel like it?

5. Getting charged for using other ATMs. This usually a fee of $3.00 to $5.00 on top of the fee the 3rd party ATM may charge you.

6. Here is the kicker. This proves banks do not care too much of customer service. Why do I say this?

Because they charge for it!

At Key Bank if you call more than 3 times in a single statement period they charge you $1.50 per call. They do not inform of this so I found out about it after I saw $12.00 in charges for customer service calls on my online statement. The customer service calls were usually brief too.

7. The Bottom Line.


The Banks ONLY care about the investor.



The Solution


The simple solution to saving your money is to switch over to a credit union. Depending on your banking practices you can save $200+ a year.


Most of the things that banks charge for, credit unions offer for free OR a fraction of the price.

For example, my credit union offers the following services free of charge.


1. Free copies of checks

2. Free statement printouts.

3. Free customer service. Isn't it pathetic that receiving free customer service has become a big deal?

4. Stable or fixed interest rates on loans and credit cards.

5. LOW NSF fees. My Credit Union charges $20.00 for NSF fees.

6. Higher returns on CDs,IRAs and more.

7. No charges on using 3rd party ATMS.

8. Free overdraft protection at many credit unions including mine.

9. All members hold equal ownership of the Credit Union. Unlike banks, credit unions are NOT investor driven.

10. Credit Union accounts are insured up to $250,000 by the National Credit Union Administration. The NCUA is the FDIC for credit unions.

11. Unlike banks that are crumbling the credit unions do not participate in risky lending. Therefore your money is safe.

12. Need I say more?



Save your money by switching financial institutions. Let people that care about you and your funds handle your dough. I encourage you to do some research and see which credit union suits you best.

Until than, come back next Monday for Tip#5!

In the mean time, get a credit union account today!

TIp #3: The $25 Date

The Scenario & Facts

Most people are single. I think that is a safe assumption to make. A lot of us are single and trying to mingle. Some of us are even in committed relationships. And lets face it, people tend to be relationship based creatures which brings me to my point.

Dating is EXPENSIVE. Depending on how you play your cards you can make dating enjoyable for you and your wallet. No one wants to be thinking about how much money they have left for the rest of the month while on a date. You should be able to relax and enjoy the time with your significant other.

So listen up. These are my few basic tips on the $25 date.

The Solution

First off there are a couple rules.

1. Do not let your date know you are trying to make the date cheap. In reality sometimes saving money is hard so if you exceed $25 don't get your panties in a bunch.

2. No one wants to be with a cheapo so don't make your $25 goal obvious!

This $25 date involves things you would do on a normal date. This is a cliche , but yes I am talking about a movie & a bite to eat.

You can spend $30.00 on some appetizers, $25.00 on movie tickets and $12.00 on concessions. But isn't nearly $70.00 expensive for a first date that isn't at a fancy restaurant?

This is what you do instead.

Do your research the night before. Find places that have good happy hour deals. You'll be able to score a decent amount of food for under $12.00. My personal favorite is Applebees. The place is far from healthy, but you can get wings and nachos for under $12.00. Not to mention they serve generous portions of heart killing food. Evening happy hours typically last a few hours. They usually start around 9 or 10 at night and end at closing. So plan accordingly.

Also, look for theaters that play second run movies. These are films that have been on the silver screen for about 8 weeks, but are not on DVD. Who cares if they are a month older than the regular theaters! You get the same experience, service and atmosphere for a fraction of the price. The second run theater in the greater Seattle area runs about $2-$3 a ticket, leaving plenty of room for theater snacks. Some second run theaters even run $1 tickets on particular days of the week.

Both restaurants and theaters run great deals mid week, so avoiding a weekend date can actually benefit you. This is a great option if you decide to go to a first run theater or a matinee. The same can apply to many chain restaurants.

Going by the original plan of a second run theater and appetizers you should be able to score a great time at the movies and some food for under $25.00. Don't believe me? Than try it and let me know if it doesn't work. I'm always happy to address any comments or suggestions from my readers.



The Results

The results are plain and simple. You and your date had a great time for 1/3 of the price. She doesn't have to know. And now you can take her on another couple dates since you saved so much money on this date!

Being savvy about your dating will allow you to feel less anxious about your wallet and more anxious about getting out there and enjoying yourself!

If you find this information useful or if it has helped you please comment! Check back next Monday for tip #4!


Your suggestions are always appreciated!

Tip #2: Saving Money on Cable AND Internet

The Scenario & Facts

When I was in college I was paying $90.00 for Internet and cable tv. This rate was the standard for the area I lived in. The price was steadily increasing as promotional prices dropped. Before I knew it I was paying $120.00 a month for these services. $4.00 a day for tv and Internet seemed kind of pricy so I decided to take action.

The Solution

If you are struggling but want Internet and cable for a lower price just call your provider. Speak to them KINDLY and explain to them that the plan is getting too expensive. Most of the time they are more than happy to significantly reduce the rate rather than lose a customer. Customer retention is important to these guys!

The Results

I ended paying only $53.98 for tv and Internet every month for the remaining 6 months I resided at my apartment. I initially asked to cancel my tv and said it wasn't worth the money. They said Internet alone would cost me $55.00 per month. I than asked to cancel both services completely.

Out of desperation the service provider offered me both services for the price of one. This made my final quote $53.98 per month.

Be patient and be polite. It can save you a ton of money in the long run. It could have saved me $720.00 on my cable and Internet bill over the course of one year :).


If you find this information useful or if it has helped you please comment! Check back next Monday for tip #3!

Tip #1: Lowering Your Cell Phone Bill

Here is a fact. Cell phones are everywhere. Many of us have replaced our home phones with our cell phones. With all of the new technology and required taxes/fees our phone bills have sky rocketed. As technology progresses shouldn't our cell phone bills get cheaper?


The Scenario

For the last 7 months I have been paying AT&T 189.00 per month for 2 iPhones, nearly 100.00 per month per phone. After speaking with an AT&T representative I was able to lower my bill by 30.00 a month. This wasn't a huge saving, but over the long run I'm saving $360.00 a year.

The Facts

Many of you may not be aware of this but cell phone plans CHANGE. Every couple months carriers release cheaper plans with greater privileges as a means to attract more customers. When these changes take place the current customers are not notified so people like us continue paying a premium on our plans.

The Solution

Every 2 to 3 months call your carrier's . Explain to them that your plan is a little more expensive than you'd like it to be and that you would like their input on how you can lower your costs. If you speak to them nicely they may make some recommendations that can trim down your cell phone bill. If they don't make any recommendations, than proceed forward and inquire about the current rate plans. Make sure to get them to verify all quoted services. Note down their name, the time you called and an employee ID number if available. Keep this information stored away just in case they end up not applying the requested changes.

Before calling them make sure to check out their website to see what is currently being offered. If what they are offering is better than what you have, its time to call.



Now go save some money and call your carriers!

Come back next Monday to see Tip #2!

Hello World!

Here is a quick bio about me. I finished my undergrad degree in business about 7 months ago. In that 7 months I have gotten married and was unemployed for the first 3 of 7 months. Up until now I have been implementing and discovering new ways to save money and I would like to suggest these solutions to you all. Any questions? Feel free to comment or email me.

The other day I was thinking about how much of a genius I am at coming up with great ways to save money and I realized why not write a blog about it!

For the next year I will be posting one money saving tip a week that can lighten your load. The tips I will provide you are not necessarily 'common sense' solutions. Most of the tips I've seen in magazine seem or feel useless or not practical.

So friends, I am here to help you out with solutions that are realistic, easy and apply to your lives!

I hope you enjoy this ! If you ever have any genius solutions feel free to email me and I'll be glad to share it with the world!