Everything we’ve learned thus far is fine and dandy if you have enough money to cover your budget each month.
But what if you overdraft your account every month because you’re so far behind?
Don’t worry, I used to be there too. I didn’t overdraft my account every month, but it happened often enough to cost me a lot of money in fees, and that drove me nuts! Fees, fees, fees – are a pain in the butt, butt, butt. When I started my Debt Free Adventure back in 1/1/2009 I vowed to NEVER pay another overdraft fee again.
And guess what? Since then I haven’t, because I learned the concepts you’re learning now.
I want you to make that vow today. Vow to yourself that you will never again be charged an overdraft fee.
Congratulations on taking these steps to be more responsible with the money you’ve been trusted to manage.
Now let’s learn how to stop spending more than we earn and how to finally get ahead!
All about Overdrafts
Getting ahead when you’re already behind is all about prioritizing your spending!
Not budgeting got you into this situation, and budgeting will get you out.
In todays training video you’ll learn about:
- Prioritize spending
- Setting up your Overdraft Account
- Budgeting for the Overdraft Balance
- Dealing with Overdraft over time
- Dealing with Overdraft fees
- Dealing with a separate line of credit
Go ahead and open your YNAB software so you can follow along with the video and get your Overdraft account all set up and configured.
(If you cannot see the video, click here to watch it in your browser.)
Now that we know how to deal with negative account balances and overdrafts we need to stick to the plan and stay true to our vow of breaking the overdraft cycle.
You can do this, all it takes is commitment and discipline.
You’re on Your Way
Congratulations, you now know how to master your money!
But – you’re not a true money master until you apply what you’ve learned and form the habits these lessons have taught you.
Once you do that, will be a true Money Master!
Remember, it’s really as simple as spending less than you earn, telling your money where to go by creating a spending plan, and staying the course.
Now that we’ve set everything up, all you have to do is stick to the plan.
If you get behind, don’t fret, just roll with the punches, adjust your plan, and get back on track.
If you benefited from this series, and haven’t already subscribed, be sure to do that now. You can grab the RSS feed here, or subscribe to the email updates by filling out that form in the top of the right sidebar (scroll up to see it).
Days in the Series