How I Saved my Bank Account: From Negative to Positive

by - Wednesday, September 25, 2019

I'll be the first to admit it and say I'm terrible with money. I'm so bad with money that I actually went into the negative with my bank account, and only just recently got into the positive and here's how I saved my bank account (and trying to rebuild my credit)

Don't worry about any expenses until you're in the positive
This is some very important information that my friend told me, but if you're so far into the negative (I was -300 at one point), don't put yourself further in debt and try to pay off some of those important bills. It will incur a lot of overdraft fees and it'll start a cycle of being in the negative that you feel like you'll never get out of.

Start fresh
I had to actually switch banks in order to truly save my bank account, and sometimes that fresh start is just what you need. Some banks offer a cash bonus when you open an account with them, so make sure that you find a bank that's suited for your needs.

Cancel any subscriptions 
Subscriptions are nice and all, but when you're in the hole, you need to save every penny you have. You might have a more difficult commute without your Spotify Premium account, but it's better than incurring another overdraft fee.

Pay off your account when you can
When you finally get into the positive, pay off any bills you might have failed to pay due to your being in the negative. Waiting until you're positive and then paying off bills will reduce the chances of having an overdraft fee.

Pay by cash
If you want to avoid going into the negative again, start paying by cash. I know that it's harder to pull out your wallet and pulling out actual money but it's so much better than using a credit card because they pose dangerous traps.

Save where you can
Start saving where you can-cut out some unnecessary expenses and figure out substitutes instead. For example, make your own coffee at home instead of your daily Starbucks run or make lunch at home instead of eating out all the time. For me, I plan to cut back on spending on makeup and already have not bought makeup for a whole month, even though there is a sale going on right now.

Make a budget
Making a budget is a good thing, and everyone's been telling me to make one and I know why. It'll help you stick to what you can and can't spend and it'll tell you some recurring bills that you need to pay or else.

Have you had your bank account get into the negative? How did you get out of your hole?

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