We all know how hard it is to save money these days.  I have found a way that works pretty well for me.   This all comes down to your goals.  My goal is to save $1500 a month.   That might seem like an unattainable goal but if you work at it, it just might work for you.

My local bank gives me a limit amount of debits on my debit card.  Here is the breakdown:

10 debits – service charge $4.95/month (waived if you have a minimum balance of $1000)

20 debits – service charge $8.95/month (waived if you have a minimum balance of $2000)

unlimited debits – service charged $12.95/month (waived if you have a minimum balance of $3000)

As you can see, that is a lot of charges for using your debit card.  Also, I use my debit card for everything.   For the amount of debits I do, I would need to get the unlimited debit plan.  This would cost me $155.4 a year ($12.95 * 12).  I am sure you can see that if you maintain a minimum balance, you do not have to pay it.

Obviously, I would want a minimum balance of $3000.  I started off at $1000 then $2000 and so on.  So in order for me to save the service charge, I am forced to maintain a minimum balance of $3000.  This works beautifully because I am saving the service charge fee and at the same time saving money in the bank.

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