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16 Things You May Want to Know About Your Personal Finances
- Medicare doesn't cover nursing home care.
- The way banks process checks and debit cards can cost you big.
banks tend to process transactions from the largest to the smallest dollar amount, rather than the order received. This makes it easier for banks to hit consumers with multiple overdraft fees.
Say you have 100 in your account, and you have four transactions processed on day for, in order, $20, $45, $30 and $90. the bank will process the $90 transaction first, so it can charge you a fee - up to $39 for each of the three transactions that will then bounce. If the transactions had been processed in the order in which they'd been received, you'd face only one fee. Most banks charges more than $30 each time you overdraw. some also charge a fee of $5 or more for each day that your account remains overdrawn.
- Once your turn 50, you can put away more pretax money for retirement than younger workers can.
- If you didn't get your tax rebate in 2008, you may be get it in 2009 when you file your income tax return.
- #5 coming next week..... stay tuned
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