I recently decided that I needed a better way to cover short term overages in my budget. When I go over budget I’ve been taking money out of my emergency fund to cover these expenses. Obviously, these little overages are not emergencies. In an attempt to make my emergency fund an account for real emergencies I opened a savings account with Bank of America, the location of my primary checking account. I started the account with $300.
The other day I got an ATM card in the mail from Bank of America. At first I was confused, was my debit card about to expire? After checking the expiration data on my debit card, I realized it was an ATM card. Bank of America sent me an ATM card for my savings account. Maybe this has been going on for a while, but I’ve never received an ATM card for a saving account before. Bank of America obviously doesn’t want their customers to save any money. I always felt the point of a savings account was not to have easy access to the cash. That is probably why my emergency fund is with ING.
Will the U.S. ever adopt a culture of savings?
photo by Ryan01
