Money Management

Take control of your finances.

Calculator Part of smart financial planning is maximizing the money you have - so you have more flexibility to make savings contributions and reach your goals faster. Cut wasteful spending on unnecessary fees, and gain control of your credit card spending, and you'll quickly realize how much those fees and interest rates are really costing you.

HOW TO AVOID FEES   BALANCE CREDIT COUNSELING   CREDIT CARD INTEREST RATE CALCULATOR  

HOW TO AVOID FEES

Some fees are big. But even small ones can add up over time. Don't spend money you don't have to paying off fees and penalties, and instead apply that money toward advancing your financial goals. Here are some ways to avoid paying fees:

Avoid Overdraft Fees:

  • Sign up for overdraft protection.
  • Apply for a line of credit for overdraft protection.
  • Immediately subtract in your check register any checks, debit card, or electronic deductions and other withdrawals.
  • Use online banking or phone banking to keep tabs on your account.
  • Balance your checkbook regularly.

Avoid ATM Fees:

  • Use surcharge-free ATMs when possible.
  • Use your ATM or debit card within your ATM network to avoid an out-of-network fee. Remember, ATM owners may also apply a surcharge.
  • Reduce your need for cash. Use a debit card for purchases from your checking account.
  • Get cash back with purchases when you use your debit card with your PIN. Many stores now offer this option.
  • Plan ahead. If you get more cash when you use an ATM, you can make fewer trips.

Avoid Savings Account Fees:

  • Limit cash or check withdrawals to avoid any excessive withdrawal fees.
  • Maintain minimum balance requirements to avoid fees and ensure you're eligible for the best rate for your account.

Avoid Late Fees:

  • Make loan payments with payroll deduction or an automatic transfer from your checking account.
  • Use online banking or phone banking to transfer loan and credit card payments anytime.
  • Set up recurring payments through online banking.
  • If you use the mail, always allow ample time for payments to reach the merchant by the due date on your loan or credit card statement. Be sure to mail payments to the correct addresses.

Avoid Inactivity Fees:

  • Make regular deposits to your accounts to keep them active.

Want to learn more about fees, and how to avoid them? Please contact us and let Virginia Credit Union's expert staff answer your questions.

Checkbook Balancing Form (Download Excel or Download PDF)

Learn how to better manage your money through accurate record keeping of your income and expenses.