The only problem is... the two $30 overdraft fres incurred as a result of this mess. Now I get to call the bank and beg & plead with them to take off the fees. Why does it seem like, now that I'm writing it all down, I'm running into more financial problems? :)
Nothing happens without something positive, though. Every cloud has a silver lining. Insert another cliche phrase here. But I did learn a few things:
- We can only rely on ourselves. Not even something you think you can count on, like payroll, is 100% foolproof.
- Nothing beats good old-fashioned cash. We've been using credit as an emergency fund, but some things can't be paid with credit. These things include the mortgage.
- The cushion in our bank account is too small. I keep between $500-$1000 in the checking account to buffer against unexpected expenses and prevent overdrafts. You can see how well that worked out.
- Our bank may not be the correct fit for us. I'll need to think about this more, and take into account their willingness to remove the overdraft fees. However, there are some bank accounts that don't charge overdraft fees and instead act as a line of credit. I have to look into this a little more.