The Saturday Weekend Review #4 January-Marketplace On Bank Fees~Magnifying Glass Needed!

While eating dinner last night I turned on CBC Marketplace one program I actually enjoy watching on the television here in Canada. If you are not familiar with Marketplace it’s a program that backs Canadians as our consumer watchdog now in it’s 40th year. Marketplace co-host Erica Johnson asked Canadians “Do you have a gripe about Bank Fees?” and busted the big 5 banks. This was great, I almost wanted to break out a bag of Orville Redenbacher, finally someone is speaking up. She says that people feel that banks are “ripping them off”. It’s not surprising when we hear that some Canadians are forking over $50 a month. According to the Canadian Bankers Association spokesperson in the show, “31% of Canadian pay no fees” and the rest, well I’m afraid, you do. When was the last time you sat down and went over all your bank statements to check how much you pay for fees? Preet Banerjee, an independent Personal Finance Expert and Blogger at WhereDoesAllMyMoneyGo.com voiced his opinion and says, “we are partly to blame because we don’t keep track of all these fees” and I agree. It’s the same with budgeting we need to know where our money is going, how else […]

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