Cut out unnecessary expenses


Does your transaction plan match your spending habits? Are you eligible for a no-fee account?

Marie-Christine Daignault  |  Desjardins Group

Fees for late payments, private ATMs and NSF cheques are the easiest to avoid.

You can eliminate them for good by taking some simple steps.

Your challenge: eliminate unnecessary transaction fees.

Step 1: Review the last 2 monthly statements on your regular accounts.

Step 2: Determine costly mistakes like:
- Late payments
- Transaction plan is insufficient for your spending habits
- Insufficient funds (NSF)
- Withdrawals from private ATMs or ATMs belonging to other financial institutions

Step 3: Implement a strategy to avoid these habits--and the resulting fees--by following our advice.

Step 4: Enjoy your newfound peace of mind and the resulting savings and do something more enjoyable.

Step 5: Stick with it--it takes 21 days to form a new habit.

7 tips to get there
1. See if your plan matches your spending habits or if you're eligible for a no-fee account.
2. Consolidate your accounts whenever possible.
3. Plan your cash expenditures to avoid unnecessary ATM withdrawals.
4. Automate recurring bill payments to avoid late fees.
5. Use direct deposit whenever possible.
6. Cover your personal chequing account if there are insufficient funds.
7. Be honest and realistic with yourself to avoid budget traps.

We give you this challenge to encourage you to develop new micro-habits. Without even realizing it, you can save a lot of money--and often faster than you think!

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