Shoutout to hitting $10k in savings after years of fees

I finally broke $10,000 in my savings account last month, which felt impossible for the longest time. Back in 2015, I was paying $15 a month in bank fees and didn't even realize it was eating into my tiny balance. Has anyone else had a similar wake-up call with hidden charges?

3 comments

3 Comments

the_karen1mo ago

My credit union hit me with a $12 monthly fee back in 2017 because my balance dropped under $500. I was working part time and barely keeping my head above water. That fee ate up almost all my interest earnings for the whole year. I switched to an online bank that next week and never looked back. It's crazy how those little charges add up when you're not paying attention. Congrats on your savings milestone, that's a huge step.

evan_jenkins17d ago

Wait, $12 a month for having under $500? That's insane. I didn't even know credit unions could do stuff like that. That's basically a penalty for being broke, which is the last thing someone needs when they're barely scraping by. Good on you for jumping ship to an online bank, a lot of people would've just let that drain them for years without thinking twice. And congrats on the savings milestone too, that's a big deal after dealing with fees like that.

rosek441mo agoMost Upvoted

Honestly those fees are annoying but $12 a month isn't gonna make or break most people's savings. You lost like $150 over a year which sucks but it's not why you couldn't save $10k. Ngl people blame fees way too much when really it's just hard to save money on a low income. Congrats on the milestone though, that's legit work.