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Today's topics:
* overdraft - 6 messages, 4 authors
http://groups.google.com/group/misc.consumers.frugal-living/t/338ed10d1ea2929c?hl=en
* Is keeping a car 50 years frugal? - 1 messages, 1 author
http://groups.google.com/group/misc.consumers.frugal-living/t/973c7ade053ebb0f?hl=en
* storing spices - 3 messages, 3 authors
http://groups.google.com/group/misc.consumers.frugal-living/t/efd68d1cb4d477b1?hl=en
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TOPIC: overdraft
http://groups.google.com/group/misc.consumers.frugal-living/t/338ed10d1ea2929c?hl=en
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== 1 of 6 ==
Date: Wed, Dec 10 2008 8:24 pm
From: clams_casino
Jerry Trumball wrote:
> My nephew had $80 in his checking account.
> He deposited another $150.
>
> Then he wrote checks totaling $60.
> He got overdraft notices for those checks.
>
> He didn't understand. Neither did his mother. She went to the bank
> with him. The teller said they'd let it go this time, but next time
> he would have to pay because it's bank policy. He and his mother
> still don't understand.
>
> What's the bank doing?
Assuming he didn't deposit cash, just because he made a deposit doesn't
mean the funds have cleared for withdrawal. Consider the case where a
deposit is made on Friday evening. It'll be Monday morning before that
deposit is even processed, assuming Monday is not a legal holiday (next
business day). Then, it will likely take several days (up to a week,
but typically 3-4 days) for the checks to clear the source banks before
the funds are available for withdrawal.
== 2 of 6 ==
Date: Wed, Dec 10 2008 9:03 pm
From: "JR Weiss"
"Jerry Trumball" <Jer@privacy.com> wrote in message
news:Ni_%k.6438$nD1.6219@bignews5.bellsouth.net...
> My nephew had $80 in his checking account.
> He deposited another $150.
>
> Then he wrote checks totaling $60.
> He got overdraft notices for those checks.
>
> He didn't understand. Neither did his mother. She went to the bank with him.
> The teller said they'd let it go this time, but next time he would have to pay
> because it's bank policy. He and his mother still don't understand.
>
> What's the bank doing?
== 3 of 6 ==
Date: Wed, Dec 10 2008 9:05 pm
From: "JR Weiss"
"Jerry Trumball" <Jer@privacy.com> wrote
> My nephew had $80 in his checking account.
> He deposited another $150.
>
> Then he wrote checks totaling $60.
> He got overdraft notices for those checks.
>
> He didn't understand. Neither did his mother. She went to the bank with him.
> The teller said they'd let it go this time, but next time he would have to pay
> because it's bank policy. He and his mother still don't understand.
>
> What's the bank doing?
Where is the bank? Where are the banks on which the deposited checks were
written?
What was the time frame for his check writing?
What is the bank's written policy regarding availability of funds?
== 4 of 6 ==
Date: Wed, Dec 10 2008 9:20 pm
From: Zuke
On Wed, 10 Dec 2008, Jerry Trumball wrote:
> My nephew had $80 in his checking account.
> He deposited another $150.
>
> Then he wrote checks totaling $60.
> He got overdraft notices for those checks.
>
> He didn't understand. Neither did his mother. She went to the bank with
> him. The teller said they'd let it go this time, but next time he would have
> to pay because it's bank policy. He and his mother still don't understand.
>
> What's the bank doing?
>
Ripping you off. It's a billion dollar business. Other posters are
correct about when a check clears but in this day and age, these
things could be done a lot quicker. I bet it doesn't take two or
three days for the bank's funds to be turning around.
Their favorite move is to pay off large amounts first and then hit
you with multiple overdrafts on any smaller amounts. This is why they
are happy to reverse the charges when you complain, figuring about
95% of people are not going to complain.
But you shouldn't be asking that question here. We are frugal and
do not have overdrafts.
== 5 of 6 ==
Date: Wed, Dec 10 2008 10:07 pm
From: Jerry Trumball
max wrote:
> In article <john-FFA973.20090110122008@news-1.octanews.net>,
> "John A. Weeks III" <john@johnweeks.com> wrote:
>
>> In article <Ni_%k.6438$nD1.6219@bignews5.bellsouth.net>,
>> Jerry Trumball <Jer@privacy.com> wrote:
>>
>>> My nephew had $80 in his checking account.
>>> He deposited another $150.
>>>
>>> Then he wrote checks totaling $60.
>>> He got overdraft notices for those checks.
>>>
>>> He didn't understand. Neither did his mother. She went to the bank
>>> with him. The teller said they'd let it go this time, but next time he
>>> would have to pay because it's bank policy. He and his mother still
>>> don't understand.
>>>
>>> What's the bank doing?
>> Was the $80 marked as "available funds"? You see, once you put
>> a check in, it takes a while for it to get through the banking
>> system, back to the bank where it was written, and confirmed that
>> it is indeed a good check. If he put the $80 in as a check, then
>> the next day wrote a $60 check, it very well could bounce.
>>
>> BOth your nephew and his mum need to ask about the available
>> balance, not the gross balance.
>>
>> -john-
>
> in addition to the above excellent advice...
>
> It might be worth it to _remove_ overdraft protection from the account.
> Note that debit card transactions can generate overdrafts too; even
> those made from an ATM.
>
> Here <http://consumerist.com/search/overdraft/> is a great deal of
> information about overdrafts. Consumerist does not like overdraft
> protection. Read the links to understand why.
>
> Your nephew is lucky to have learned the lesson so cheaply; it could
> have cost him hundreds of dollars!
>
> .max
>
I don't see anything at the cosumerist link that says overdraft
protection is bad. What's wrong with it?
== 6 of 6 ==
Date: Wed, Dec 10 2008 10:09 pm
From: Jerry Trumball
John A. Weeks III wrote:
> In article <Ni_%k.6438$nD1.6219@bignews5.bellsouth.net>,
> Jerry Trumball <Jer@privacy.com> wrote:
>
>> My nephew had $80 in his checking account.
>> He deposited another $150.
>>
>> Then he wrote checks totaling $60.
>> He got overdraft notices for those checks.
>>
>> He didn't understand. Neither did his mother. She went to the bank
>> with him. The teller said they'd let it go this time, but next time he
>> would have to pay because it's bank policy. He and his mother still
>> don't understand.
>>
>> What's the bank doing?
>
> Was the $80 marked as "available funds"? You see, once you put
> a check in, it takes a while for it to get through the banking
> system, back to the bank where it was written, and confirmed that
> it is indeed a good check. If he put the $80 in as a check, then
> the next day wrote a $60 check, it very well could bounce.
>
> BOth your nephew and his mum need to ask about the available
> balance, not the gross balance.
>
> -john-
>
They understood the teller to say that there would have been no
overdraft if he had not made the $150 deposit. Apparently the $80 was
available before he deposited more money. Why wouldn't it cover $60 in
checks?
==============================================================================
TOPIC: Is keeping a car 50 years frugal?
http://groups.google.com/group/misc.consumers.frugal-living/t/973c7ade053ebb0f?hl=en
==============================================================================
== 1 of 1 ==
Date: Wed, Dec 10 2008 9:11 pm
From: Zuke
Have you seen the price of a '57 Chevy lately?
On Tue, 9 Dec 2008, Roger Shoaf wrote:
>
> "The Real Bev" <bashley101+M@gmail.com> wrote in message
> news:ghjj8e$p23$1@news.motzarella.org...
>>
>> Something essential that can't be replaced breaks. Case in point: leaf
>> springs for a 1960 Ford station wagon. The ones in the wrecking yard
>> are just as rotten as the ones you have and you can't find any new ones
>> no matter how hard you look.
>>
>
> If I needed leaf springs for a 60 Ford, I would go to a spring shop and have
> them make me a set. These would be brand new, and if for some reason the
> factory design was deficient for some reason, they could remedy that also.
>
> You can also get drive shafts built from scratch and have starters,
> alternators and carburetors overhauled.
>
> --
>
> Roger Shoaf
>
> About the time I had mastered getting the toothpaste back in the tube, then
> they come up with this striped stuff.
>
>
>
==============================================================================
TOPIC: storing spices
http://groups.google.com/group/misc.consumers.frugal-living/t/efd68d1cb4d477b1?hl=en
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== 1 of 3 ==
Date: Wed, Dec 10 2008 9:12 pm
From: Jack Ricci
I buy very good quality spices from a small ethnic grocery store. The
spices come in small pouches made of cellophane that fall apart when you
open them. I would like to store them in small containers that I could
reseal and that would keep the spices' flavor until needed. I realize
that spices get stale quite fast, but still I would like to keep them
for a reasonable period of time.
Any suggestions? Thank you.
== 2 of 3 ==
Date: Wed, Dec 10 2008 9:37 pm
From: Joe Negron
On 2008-12-11, Jack Ricci <jritch53@hotmail.com> wrote:
>I buy very good quality spices from a small ethnic grocery store. The
>spices come in small pouches made of cellophane that fall apart when you
>open them. I would like to store them in small containers that I could
>reseal and that would keep the spices' flavor until needed. I realize
>that spices get stale quite fast, but still I would like to keep them
>for a reasonable period of time.
>
>Any suggestions? Thank you.
We save glass jars (jam, mayonnaise, peanut butter, etc.), particularly
those with metal tops, for food storage; they come in various sizes and
after a while we had all we could need.
--
------------------------------------------------------------------------
Our hope of immortality does not come from any religions, but nearly all
religions come from that hope.
--Robert Green Ingersoll
War is good for business - invest your son.
--antiwar bumper sticker from the 1960s
------------------------------------------------------------------------
Joe Negron from Bensonhurst, Brooklyn, NY, USA
== 3 of 3 ==
Date: Wed, Dec 10 2008 10:24 pm
From: Goomba
Jack Ricci wrote:
> I buy very good quality spices from a small ethnic grocery store. The
> spices come in small pouches made of cellophane that fall apart when you
> open them. I would like to store them in small containers that I could
> reseal and that would keep the spices' flavor until needed. I realize
> that spices get stale quite fast, but still I would like to keep them
> for a reasonable period of time.
>
> Any suggestions? Thank you.
I keep all my spices (in spice jars and packets) in the freezer. They
remain fresh so much longer. The very worst place you can keep spices is
near the hot, humid stove. Yet you see people do that time and again.
I love the spices from Penzeys- www.penzeys.com
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