How Do I Stop Bank Fees Fast?

Speaker A00:00:37

Hey, does it feel like your money's leaking out a little at a time? That $35 here, $25 there, and before you know it, you've lost money you work so hard to earn to fees.If you're tired of feeling stuck in that cycle, today we're going to stop the bleeding and we're going to stop it. Hello, friend. Ralph Estep Jr. Here.Welcome to Financially Confident Christian, where we're breaking the cycle of financial shame and helping you find confidence. Today's show is super practical. Today I want to talk about how to stop bank fees from draining your money.And it comes to us by a question from a listener.Listener writes this Ralph I keep getting hit with fees, overdrafts, late charges, service fees, and it feels like my money is leaking out faster than I can control. It's frustrating. And honestly, it's discouraging. Like I'm working hard to just stay in the same place. I don't want to keep losing ground like this.What's the simplest system I can put in place this week to stop the bleeding and to finally get some breathing room?Friend, I hear the frustration in that call, in that voicemail, because the truth of the matter is fees don't just cost us money, they cost us momentum. That's what we're really talking about. It's momentum that you're talking about. But here's the good news.This is one of the fastest things you can fix. Here's the big takeaway for today. Fees happen when money isn't being tracked in real time. But clarity stops the leaks.Like I said, today, I'm going to be your financial plumber. I'm going to show you how to stop the leaks. Here's the first thing you've got to do. You've got to know your real balance, not some estimated one.This is where most fees begin. Most of us think you have more than you do. A lot of times that's because you've got pending transactions that haven't cleared.Maybe you've got some automatic payments that are coming out or your timing's off. I'll tell you a funny story as I've shared with people on the show. I used to run a credit union. I'll never forget. It was a Friday afternoon.This lady came in, she sat down with me and she said, Mr. Ralph, Mr. Ralph, here we go. She said to me, I got this notice that says my account's overdrafted. She says, but I can't be overdrafted. I still have checks.I looked around what did she just say? But we can see how silly that is, right? Can't we? But if we don't understand the reality, how are we going to do anything different?So your new rule is simple. Only spend based on your actual available balance. Not what you think is there. What you think of there, what you think is there means nothing.It's what is really there. But how do you know that? Here's the thing. We live in a technological age. Turn on alerts for everything.There's no reason that you don't have these set up. You need visibility.You can go right now onto your bank account, onto your credit cards, and set up alerts for low balance for every transaction, for upcoming bills. Just set up the alerts. You don't need to check your account constantly. You just need your account to notify you.So one of the greatest tools of AI and technology is that that awareness will prevent those surprises. So preventive. Know what's really going on, but then create a small buffer in your account. This is the game changer.Honestly, this is probably the biggest thing that I've seen work for most people. Build that cushion, $50, $100, $200, it doesn't really matter.But when you have that buffer, it protects you from those timing issues and those small miscalculations. This is not extra money now. This is protection money. This is that buffer. Here's another thing I'm going to encourage you to do.Simplify your payment flow. So many of us have these multiple moving parts, but the more moving parts. I talked about this the other day in the credit card.In the credit card episode, the more moving parts you have, the more chances for mistakes. I never forget. I had someone sit across from me. They were frustrated, and it wasn't because they weren't trying.These people were trying, but they kept getting hit with overdraft fees. I'd never forget. I looked at their statement. $35 Here, another $35 there. The bank was making a mint on them.And it's like their money was just leaking out. That's why I said, today is about being a plumber. So I asked them a real simple question. I said, walk me through your accounts. So picture this.They had one account for bills. They had another account for spending. They had a third account they even forgot about. And income was hitting at different times.Bills were coming out all month long. It was like no rhythm and no clarity, just constant movement. It was chaos. And here's the thing. These people weren't bad with money.Their system had just Gotten way too complicated. So I didn't say to them, hey, we're going to rebuild everything. We simplified it. We changed a one main checking account. All the income goes in there.All the bills come out of there. We even called a few other companies. We moved some due dates so that most bills hit around the same time.And then as I talked about on the show before, we automated the essentials. That was it. You didn't hear me mention some complex budget. I didn't sell them on some new app. No big overhaul. Just those simple things.And a few weeks later, those overdraft fees were gone. Now, it wasn't because they suddenly became perfect, but they had a system. They had a system that stopped working against them.Friend, hear me on this. Sometimes the breakthrough isn't trying harder. It's actually making things simpler. But you got to fix the system, not just the symptoms.Let's go deeper for just a moment. Fees are not a money issue. Now, you might be saying, ralph, you're crazy. The fees coming out of my account, Ralph, it's a money issue. No, it's not.It's a system issue. So instead of saying to yourself, I need to try harder, say, I need a system that works even when I'm tired.Because when you build a system that works, you don't have to rely on willpower. Willpower will let you down. So come back to my plumbing analogy. You can stop the leaks and keep what you earn. So here's your win for today.Just one thing. Go to your bank account and turn on low balance alerts from your primary account. That's it.Because that one alert, trust me on this, I use this myself. That one alert can prevent that next fee. Go turn that on. Today, let's get into our Bible verse. Today we're going to go to the book of Proverbs.Always great verses about finance and consistency in proverbs. But today we're going to Proverbs 27, verse 23. And this one hits home for me because I raised Black Angus cows here on the farm. But it says this.27, 23 Proverbs. Be sure to know the condition of your flocks. Give careful attention to your herds. You may be saying, ralph, what does that have to do with money?It has everything to do with money. Paying attention to what you have is the first step to protecting it. Know what's going on. That financial awareness prevents unnecessary losses.You work hard for your money. Stop giving it away to the bank and the credit card company. Know what's going on? How about we pray together right now.Heavenly Father, I lift up my friend who feels frustrated and discouraged by these constant fees. And Lord, you see their effort, you see their desire to move forward and you see how draining this has been to them.I ask that you give them clarity to see what's really happening, Lord. Give them wisdom to build a simple system and give them discipline to follow through.Help them to protect what you've provided for them and move from frustration to steady progress. Lord. Bring peace to their finances and to all of our finances and help us to have confidence in our decisions. You're with us all the time, Lord.We ask this in Jesus name. Amen, friend. A simple system can change everything and it can change starting today. It's really that magical.And if you're ready to take control and keep more of what you earn and maybe you're struggling with something, you've got a question about something. I would love to hear your question so I can talk about it on the show. Because here's the thing.I'll guarantee the things that you're struggling with, there are other people struggling with that same thing. So share your question with me. Go to financiallyconfidentchristian.com/question We'll put a link in the show notes.But again, that's financiallyconfidentchristian.com/question Because I'd love to help you get started. Thank you so much for joining me today. I want to encourage you stay financially savvy.May God bless you and you have a great day today.