Money Confession - ATMs - SavingAdvice.com Blog

Money Confession - ATMs

Posted by pfadvice
August 9, 2007

As part of an ongoing money confession series, I have been gathering money confessions from people after talks I give. These are written anonymously and they give a peak into some of the money secrets that people carry around with them. This is confession number 32 in the series:

“I spend over $200 a month on ATM withdrawals.”

Other confession already listed:

This confession photo courtesy of bryanvillarin

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Information: August 9th, 2007; 3 Responses

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Reader Comments

Comment Number:: 1
Written by:: fern
Posted on:: August 9, 2007 at 9:33 am

no idea what this means.

Does the person mean they withdrawl $200 a month from an ATM? If so, so what? It’s the equivalent of writing a check, or using a credit card (sans fees).

Or does she mean she wracks up $200 in service charges monthly? That would be hard to believe.

Comment Number:: 2
Written by:: Cookie
Posted on:: August 9, 2007 at 7:57 pm

I believe the person takes money out ALL the time from any ATM to the point that they spend $200 in using other banks’ ATMs (the fees for taking money out from other ATMs other than your own bank). THAT is a disgustingly horrid way to waste money. The person doesn’t care that they are giving their hard earn cash away just to get their cash quick. Just go to the bank, make a major withdrawal for the month and be done with it OR just just a debit card for everything. Some people treat money as their play thing until they really need it and there isn’t any left for emergencies and such.

Comment Number:: 3
Written by:: Ro (Subscribed)
Posted on:: August 21, 2007 at 5:58 am

I definitely agree. That is a waste of money. If this $200 were set aside in an interest bearing online account, this money would be put to work for this individual. This is indeed a terrible mistake. However, I always say, “it is wise to learn from your mistakes, but wiser to learn from those of others”