Dinero Chinches: How To Avoid Overdraft Fees + More

You have chinches, cochin@s! 😱

We aren’t talking about the ones in your bed…although, you should be careful of those too. 💯 We’re talking about the chinches in your bank account! Think of them as dinero chinches. 💵🪳

What’s tricky about dinero chinches is that most times you don’t even notice them. They’re like the little chinches in your bed that are small but do a lot of damage—and no amount of Fabuloso or Zote can help you get rid of them. 😭 You have to be vigilant and investigate to find the pesky dinero chinches to be sure they’re gone for good! 🔍

Okay, so what are these dinero chinches and how do you get rid of them? Ya tú sabes we’re going to tell you! 😉

The first dinero chinche you have to squash is overdraft fees. An overdraft fee is a charge on your bank account that happens when you make a transaction and you don’t have enough money in your account to pay for it. 😬  🥴 These fees vary bank to bank, but the fees can be up to $30 or more. These fees sneak up on you if you’re not watching for it. 👀 Avoid this dinero chinche by frequently checking your bank account, pay in cash, or set a limit for yourself never to spend past a certain amount in your account. ✍️

Second are maintenance fees. Maintenance fees happen when you don’t meet your bank’s financial requirements. 📝 Your bank might require you to have a certain amount of money in your checking and savings account at all times. Not all banks have requirements or maintenance fees, but the big ones like Bank of America and Chase do. ✔️ The best way to squash this dinero chinche is to make it a priority to always meet your bank’s requirements or find another bank that doesn’t charge maintenance fees. 🏦

The next dinero chinche are out-of-network ATM fees. 🏧 These fees happen when you draw cash out of your account with an ATM that isn’t your bank’s. These fees range anywhere from $1.50- $3.75. 💰 It depends where you’re at. But, one thing is for certain, these fees add up 📈 and you’re paying for a service that you can get for free. Simply avoid these costs by using your bank’s ATM. 😁

Lastly, we have minimum balance fees. These fees happen when your money balance in your account drops below the minimum requirement of money your bank says. 📉 Let’s say your bank requires you to have at least $100 in your checking account at all times, and if you go below that, they’ll charge you a fee. These dinero chinches are annoying and often happen unnoticed. 😔 Always check your bank account balance and set a limit for yourself not to go past a number that’s above the minimum requirement. 

All these dinero chinches can ruin your financial bed, and you have to squash them before they take it over. But, we believe in you and are here to help you get rid of the dinero chinches once and for all!  💵🪳