What’s In Your Wallet? Apparently Not Much…

A new survey finds that a lot of you don’t know how much money is in your bank account.  And that’s because you’re afraid to find out!

55 percent of people in the survey said they don’t want to look at their bank account because they don’t want to know how bad things are.  The average person looks at their bank account 4 times per week and is concerned that they may make a purchase or pay a bill that results in an overdraft.  Nearly half of those surveyed said they go out of their way to avoid ATM charges.

Most people think they know how much money they have without checking their bank account and 68 percent of people who get paid weekly are worried about just being able to make the minimum payment on a credit card.  And when it comes to paying bills, two thirds of people would like to pay in cash and never deal with a financial institution ever again.

These are the fees that cause the most stress…

  1. ATM fees
  2. Overdraft fees
  3. Tipping
  4. Credit card interest

Experts on improving your financial situation say never be afraid to try to negotiate bills or fees because banks and retailers would rather give you a discount than lose your business.

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