How to Avoid Those Ridiculous ATM Fees

I think it's safe to say that very few people today have never used an ATM. I'm sure you're quite familiar with those nasty little charges. If you're not careful, those charges can add up quickly. Although banks will not disclose how much profit they make from user fees, it doesn't take an expert to realize that ATMs are the banks' cash cows. It's hard to feel sorry for corporations that announce record profits every quarter when they explain the need for these high fees as a way to keep the costly machines in operation. The only way to beat them is by becoming informed consumers. Don't give them more money than you need to. Here are some tips to help you avoid those fees.

1. Stick to your bank's ATM. This is the most obvious tip but sometimes a difficult one to follow depending on where you are. For those who don't know, when you use a competing bank's machine, you're charged twice. You typically end up paying as much as $3.00 in fees (maybe even higher). You should definitely avoid those "white label" machines where you could end being charged even more.

2. Determine your ATM usage and look at the number of locations where your bank has a machine in place. If you're a frequent user, you may want to go with a bank that offers ATMs in more locations. Many credit unions have an agreement in place that allow their customers to use ATMs of competing credit unions without additional charges. This may not apply to all credit unions so buyer beware.

3. Select an account that offers a maximum number of free transactions that fits your needs. The only catch is you will likely need to maintain a minimum account balance every month or else you'll be hit with a monthly service charge.

4. Reduce frequent trips to ATMs by taking out larger amounts of cash. Don't pay $1.50 to $3.00 in fees to withdraw $20. However, this strategy requires you to be more diligent with your money management.

Remember, big banks only care about growing their profit, regardless of what they may want you to believe. Don't make it easy for them. Follow these simple tips and you'll be able to keep your money where it belongs.

Finally Banned...For Now

So the Toronto District School Board (TDSB) has finally banned the use of cellphones and other wireless communication devices. Bravo. If I was teaching and some idiot started getting calls or sat there texting away, I would be pretty pissed off. We were all teenagers at one point and we know how self absorbed teenagers can be. Heck, many have grown up to become self absorbed adults. There is absolutely no reason a student should be getting or making phone calls during class time, unless there's a 911 emergency.

It annoys me to hear parents talk about how important it is to have instant access to their precious kids and that the school has no right to take it away from them. Students survived just fine before cellphones and other personal communication devices were invented. If there is a real family emergency, school staff would certainly not hesitate to pull the student out of class. That's assuming little Jimmy or Suzy isn't skipping.

I don't think anyone should be surprised to see kids using these devices to capture school fights and acts of bullying. No one should be surprised that the devices are being used to cheat on tests and exams. Of course, no parent wants to believe their children would participate in such acts. If I had a camera phone back in the day, who knows what I would've recorded.

Beware of Facebook

I didn't hear about this site until some people sent me invites to join. For a long time I chose to ignore the invites, until yesterday when I chatted on MSN with a friend of mine. I decided to try it out. All I can say is if you're busy and don't need another thing to occupy your time, avoid Facebook like the plague. It can be very addictive. I have to say, it's pretty cool reaching out to people you haven't seen in many years. What I find most interesting is seeing who others are friends with. You'd be surprised to see just how small of a world you live in. Talk about six degrees of separation.