Leave Something in the Account

Kristina on Facebook asks what to do if your bank charges a service fee to keep a minimum balance in your checking account.

QUESTION: Kristina on Facebook asks what to do if your bank charges a service fee to keep a minimum balance in your checking account. Dave says you don’t want your checking account to be at zero.

ANSWER: No, you give a name to every dollar of your income—not every dollar of your accounts. Your monthly budget is income minus outgo. It’s not bank account cleaned out. You want to leave a balance of some kind in a bank account in case there’s a little glitch, so you don’t go into the land of bounced checks.