What will they think of next?

Seriously folks, some days just make me shake my head with wonder.  And not the good kind of wonder either.

I was reading through Parade the other day, catching up because I don’t have time to read the Sunday paper on Sunday, when I came across  the article Beware of Debit Card Dangers by Carmen Wong Ulrich.  So I read it, because I wanted to be aware of what’s going on in the world of my finances and because we might be forced to use a debit card with our account since so few companies will accept checks anymore.

Ms. Wong Ulrich needs to learn a few lessons in finance before she writes articles.  Her first danger:  Overdraft Charges.  Oh Gasp!  You mean my bank is going to charge me a fee if I overdraft my account.  Wow Sherlock, how long did it take you to figure out that it’s a bad idea to spend money that you haven’t earned yet?!  Yes, overdraft protection comes with a price.  That’s why instead of  “decline overdraft protection if you can” (Ms. Wong Ulrich’s “solution”), you really just need to learn to live within your means.

Her next danger:  Out-of-Order Transactions.  Again using the example of spending $585 when you only have $500 in your account, Ms. Wong Ulrich says that we should “only patronize banks that process our transactions in chronological order”.  That way if we make three $20 dollar purchases and one $525 purchase, we will only be charged one overdraft fee instead of four.  Again cupcake, Stop Spending Money You Don’t Have.  Really, is it that hard to make a budget and live with it?

Oh and get this folks, Ms. Wong Ulrich’s credentials are listed at the end of the article.  “CNBC personal-finance expert Carmen Wong Ulrich is the author of  ‘Generation Debt'”.  “Generation Debt”  huh, I can see why.

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