Money Smart - A Financial Education Program


Alexander Pope once famously noted “To err is human.”  We all make mistakes.  But those mistakes can be costly if they involve overdrawing your bank account.  

The following is a list of top tips to help you to avoid paying overdraft fees:

1.    Keep your check register up to date by recording all transactions to your register when you conduct the transaction.  Transactions that are often overlooked include electronic transactions such as ATM withdrawals and ACH items that you authorized to be deducted from your account (think utility bills).  Be sure to record those transactions as well.  

2.    Monitor your balances.  You can access your accounts through online banking, mobile banking and through Info24 banking.  Furthermore, you can always call us and we can provide you your account balances.  

3.    Reconcile your monthly statement.  While this task may seem daunting at first, it is relatively easy and once you understand how to reconcile your statement, the process is fairly simple.  Additionally, if you need help reconciling your statement, we are always here to assist you.  

4.    Link other accounts to your checking account to cover overdrafts.  FNB allows you to link accounts to your checking account to cover overdrafts.  While there is a small fee to make the transfer, it is much less than a non-sufficient funds fee or an automatic overdraft fee.

5.    Determine if overdraft privilege is a service that you can manage.  Not everyone can manage their overdraft privilege.  For some, it may be better to have the transaction returned than overdrawing the account.  You can always contact the bank and opt out of any overdraft privilege service.  

In addition to the tips above, there are several online resources available to help assist you with managing your money.  One of the online resources is called Money Smart which is offered by the FDIC.  Money Smart is designed to help individuals develop and polish their financial skills.  The Money Smart curriculum is free and the FDIC offers four versions of the program:

a.    An instructor-led version for adults in nine different languages;
b.    An instructor-led version for young adults (12 – 20 years old);
c.    A Computer-Based online version; and
d.    A portable MPE version called Money Smart Podcast Network.

Check out this link for more information on the Money Smart Financial Education Program.