Okay, you get this by now – I’m not a banker by profession, but I work on my own finances like I am. Remember the most important thing about improving your life is believing you can. Saying that you are something is a way to connect your mind with your actions.
I’m a banker because I run my finances like a bank would run theirs…for the most part 😉 It goes along with me being a money manager. The difference is I make sure I’m getting the best rates on my mortgage, credit cards, loans, etc. I use my credit score to leverage getting great deals on these items. I also take advantage of any offers that may benefit how much I pay in interest. What I don’t do is compare interest paid by banks on the money I have on deposit. Why? Because I’m not going to change banks anytime soon. However, when I did change banks a couple of years ago I did so because I was tired of the random fees charged by my then bank, US Bank, to use my money. For example, I was charged a $30 fee for a overdrawn transfer between my accounts. Meaning if my checking account was overdrawn it automatically pulls money from my savings account. This was a computer transaction that was charging me $30 to use my own money. There was also a fee to use the atm, to connect my bank account to my money management software Quicken, and I think there was one more random fee. They used to provide points to use the debit card – but they discontinued that program.
Long story short, I’m always on the look out to save a buck. If that means calling the bank to get my interest rate reduced on my credit card…I do that. I don’t like using a credit card, but in starting a business it has become necessary to front myself some cash. Before starting my company I had zero credit card debt and endeavor to make it back there again. Credit cards are a convenience but cause a lot of trouble.