What do you do now with new bank fees?

I was not surprised when I heard that BofA was looking to implement charges for Debit Card transactions. Personally, it didn't matter to me - only because I don't use my debit card. However, I read this article about how BofA is still going to make money if you don't use your debit card. Here's how.

Those customers who are outraged and threatening to leave the bank... probably will not. It will take some work to leave the bank: take your money out, find another bank, get some new checks.. ect. Effort that may deter someone away from leaving.

Those customers who are looking to find an alternative to using debit cards, will... they'll just use their credit cards. But you have pay the balance in full at the end of each billing cycle or else you'll be charged interest. Which is exactly what the big banks want because they make more money on the interest than the $5 debit card fee.

Now, when you decide your new course of action, make sure that you're aware of your choices. I believe BofA still gives free checking for student accounts, with free checks. Even though there's the debit card fee coming out next year, you get unlimited transactions at the ATM. If anything, just change your habits.

Lastly, if you're looking to change banks, I came across this article that has some really great options! I'm personally a BofA customer and primarily an ING Direct Customer. If you want a $25 bonus for signing up with ING Direct, let me know so I can send you the promo link. :)

Happy Saving! Every little bit helps!

Another way to increase savings!

I know a couple posts ago I talked about how much of a fanatic I am about extreme couponing and I've taken it on to really coupon for things that I need. Through this experience, I've learned that some stores have their perks and you need to understand it in order to fully maximize it.

For example, Ralphs will double each of your coupons up to $1, so a $.50 coupon will turn to a $1 off. CVS and Target have their own coupons that can be matched up with manufactured coupons which means great savings! It really helps to reach my goal of saving more than 50% during each shopping trip.

Lastly, there's a website called Plastic Jungle where you get to purchase gift cards at a discount and sell unwanted gift cards that you have laying around! I've purchased gift cards from Target, The Body Shop, and Starbucks through this website giving me additional savings on what I'm already saving on! It's been a really fun treat and you don't have to pay for shipping! It's turned to be one of my favorite places and they're starting an affiliate program. Meaning that everyone you refer, for their very first transaction, you get $5! So head on over to Plastic Jungle, sign up, find a gift card for you and tell your friends and family out there.

After all, a penny saved is more than a penny earned! Happy Shopping!