Daily Dose of Common Sense

This is an example of smartness:

Bank of America will no longer let you spend what you don’t have. Revolutionary, I know. The bank is not allowing customers using accounts linked to debit cards to spend more than in their checking accounts.

Customers making a purchase without sufficient funds will be rejected at the cash register, the Charlotte, North Carolina-based bank said today. Those seeking to withdraw more than their balance from automated teller machines must agree to a $35 fee before they can get the money, spokesman Don Vecchiarello said.

$35 is pricey, but at least you can’t spend yourself (and us) into debt. Living within your means can be hard (who are we kidding–it sucks!) but, it’s a good way to avoid financial disaster down the road.

Photo

Thanks to George P. for the link!

This entry was posted on Wednesday, March 10th, 2010 at 9:13 pm and is filed under Money. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.