Personal Finance Fail
Ever have one of those weeks? You know the kind — one where you’re so busy that you forget what day it is? Well, I had just such a week this week, and it caused a personal finance fail.
I’m talking about the kind of fail where I forgot that it was March already, and that our normal house payment was due. You know, the one that’s automatically paid out of our checking account.
Luckily, I guess, one of the ways we managed to get a “no monthly fees” checking account was by agreeing to sign up for a credit card that’s linked to our checking account as overdraft protection.
Now we’ve never used the card, and in fact I immediately cut it up whenever they send me a new one. I’m also NOT a believer in having overdraft protection. I believe that I should be paying attention to how much money we have and what’s due when.
But apparently when you forget that the beginning of the new month has rolled around, and you forget to put money in the checking account after getting paid, and you forget that your mortgage payment is due, overdraft protection isn’t so terrible.
I still have no idea if there are fees involved with that, but I hope not.
Oh well, lesson learned. And hopefully not repeated again.
(Thanks to Squirrelers for including this post in the latest Carnival of Money Stories)