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I don't understand your point here? Yes banks try to benefit themselves as far as checking goes. But as long as you only spend what you have in your account, (a

I don't understand your point here? Yes banks try to benefit themselves as far as checking goes. But as long as you only spend what you have in your account, (as in available funds), then you will never have a scenario like this. I have never had uncertainty in the availability of funds, (could be just that my bank says "available funds" as well as "current balance"), and it is almost always better to be late on your bill payment than to overdraft or write a bad check. To you second point, I wasn't referring to childcare in general, just in these specific instances, (e.g. earlier start time for commute and periodic grocery shopping).

Posibyte 9y ago
Coming from poverty, the tiniest issues: flat tire, injury, etc. will easily take that sliver of cash you had left and that's when things like overdraws start. You then get stuck in an endless cycle of loans, credit cards, etc. to cover basic expenses while you try to rebound. It'd be very easy to say "Don't spend what you don't have." but unfortunately many people need more than they're given.
- restingrobot 9y ago
  I understand issues come up, that doesn't mean that you must overdraft or take a crappy loan. There are so many options for every scenario. Also coming from poverty, one of the hardest life lessons I had to learn was how to be self reliant. I started by changing my thinking. Overdraws and loans are one option and not the only option is most cases. >but unfortunately many people need more than they're given. I have a problem with this statement. I don't think many people in poverty are "given" anything. They need more than they "earn". To say given trivializes the blood, sweat and tears that many people shed just to survive.
- Powerofmene 9y ago
  Or a hurricane comes through and gas jumps to $3.00 a gallon and you have to buy diapers w your last $15 so now you have to choose. Or heaven forbid you get the flu and miss a day or two of work....you don't work then you don't get paid. In cases like these payday lenders may not be ideal but they are quick and easy (for a reason I might add). Now you out have another bill you probably can't pay but if your kids are hungry today...well tomorrow if a different problem.
  - restingrobot 9y ago
    A hurricane is hardly a good example. Its a tiny minority of people in the poverty discussion.
    - Powerofmene 9y ago
      I am just saying that something as obscure as a hurricane can throw a family with no safety net into a free fall financially. But for better examples, 1. You get the flu and miss a days work. 2. Your child needs their teeth cleaned or worse a cavity filled and you don't have entail coverage or a $50 deductible etc. 3. Your 1st grade child is sick and can't go to school so you now can't go to work. 4. Your parent passes and you have funeral arrangements to make and service to attend, etc. 5. Your get in a car accident (not your fault) and now you have no transportation. 6. You are injured at work and short term disability is a fraction of your pay and that is only after a number of days unpaid. 7. You find out you or your child need glasses. 8. Your child needs shoes, school supplies, medicine, a haircut, etc. 9. Bus drivers are on strike and now you cannot find a way to work so you can't get paid. 10. The laundromat close to you shuts down and now it is a 20 mile ride to the next closest one with two kids in tow (along with all of your laundry) and the closest you can get is 4-6 blocks from it. 11. Your wallet is stolen. 12. Your company cuts your hours or worse, it is closing and you are losing your job. Or if none of those are good, how about You or your child (or both) have life threatening allergies and you need an epi pen with the ridiculous out of pocket that comes with that. The point is that risk is around every corner for people living paycheck to paycheck. You cannot fault people for making poor choices when the choice a) is really bad and choice b) is disastrous.
    - Powerofmene 9y ago
      People in the hurricane are not necessarily who I was talking about. I was not affected by a hurricane other than gasoline in my area has increased 80 cents a gallon in ten days. Any person who purchases gasoline has been impacted. I am simply saying that this increase hits those with less padding in their budget are hit harder than those who have more discretionary income.
  - AstralStorm 9y ago
cardiffspaceman 9y ago
Banking point: Let's work this through. Start the banking day with $10. You have $11 in checks clearing and $11+N in pay automatically deposited. You should end the day with $10+N balance. You would have an overdraft because the checks are recognized ahead of the deposits. You'll end up ahead on the day, but at least one check didn't get paid and you'll have costs from that. How do I keep this from happening?
- restingrobot 9y ago
  The flaw in your point is that you should not have $11 in checks clearing with only $10 in balance. This means that you wrote the check without enough money. People its your responsibility to keep track of your balance, not your banks. This seems to be a common misconception in modern times.
  - cardiffspaceman 9y ago
    The reason I mentioned clearing is that the day that the bank sees the check is not the same as the day it is mailed, or the day that it is handled by the recipient. There are variables. If you are trying to achieve a decent financial status, you might want keep your cash in the savings account that earns better interest, instead of keeping excessive funds in the checking account. I'm engaging on this because I'd like to hear if there is some option besides having a benefactor provide me with a spare 'N' dollars to allow my checking account to have a buffer against the bank's unfriendly policies and the other random effects.
    - restingrobot 9y ago
      I think you missed my point. You should not write a check for more money than you have, (you can but you are taking a risk that it will bounce). You do not need a buffer, you need to track your money better. The second that you write a check, it should be deducted from your, (your meaning the record you keep not the banks record), balance. In this scenario, when you wrote the check, the balance would be -$1. That is the problem here. The bank can clear or not clear things in any order, but if your recording is better, you will never have an issue. The benefactor you speak of is your own records, if you do not keep them, you are doing yourself a disservice.

Posibyte 9y ago

Coming from poverty, the tiniest issues: flat tire, injury, etc. will easily take that sliver of cash you had left and that's when things like overdraws start. You then get stuck in an endless cycle of loans, credit cards, etc. to cover basic expenses while you try to rebound. It'd be very easy to say "Don't spend what you don't have." but unfortunately many people need more than they're given.

restingrobot 9y ago
I understand issues come up, that doesn't mean that you must overdraft or take a crappy loan. There are so many options for every scenario. Also coming from poverty, one of the hardest life lessons I had to learn was how to be self reliant. I started by changing my thinking. Overdraws and loans are one option and not the only option is most cases. >but unfortunately many people need more than they're given. I have a problem with this statement. I don't think many people in poverty are "given" anything. They need more than they "earn". To say given trivializes the blood, sweat and tears that many people shed just to survive.
Powerofmene 9y ago
Or a hurricane comes through and gas jumps to $3.00 a gallon and you have to buy diapers w your last $15 so now you have to choose. Or heaven forbid you get the flu and miss a day or two of work....you don't work then you don't get paid. In cases like these payday lenders may not be ideal but they are quick and easy (for a reason I might add). Now you out have another bill you probably can't pay but if your kids are hungry today...well tomorrow if a different problem.
- restingrobot 9y ago
  A hurricane is hardly a good example. Its a tiny minority of people in the poverty discussion.
  - Powerofmene 9y ago
    I am just saying that something as obscure as a hurricane can throw a family with no safety net into a free fall financially. But for better examples, 1. You get the flu and miss a days work. 2. Your child needs their teeth cleaned or worse a cavity filled and you don't have entail coverage or a $50 deductible etc. 3. Your 1st grade child is sick and can't go to school so you now can't go to work. 4. Your parent passes and you have funeral arrangements to make and service to attend, etc. 5. Your get in a car accident (not your fault) and now you have no transportation. 6. You are injured at work and short term disability is a fraction of your pay and that is only after a number of days unpaid. 7. You find out you or your child need glasses. 8. Your child needs shoes, school supplies, medicine, a haircut, etc. 9. Bus drivers are on strike and now you cannot find a way to work so you can't get paid. 10. The laundromat close to you shuts down and now it is a 20 mile ride to the next closest one with two kids in tow (along with all of your laundry) and the closest you can get is 4-6 blocks from it. 11. Your wallet is stolen. 12. Your company cuts your hours or worse, it is closing and you are losing your job. Or if none of those are good, how about You or your child (or both) have life threatening allergies and you need an epi pen with the ridiculous out of pocket that comes with that. The point is that risk is around every corner for people living paycheck to paycheck. You cannot fault people for making poor choices when the choice a) is really bad and choice b) is disastrous.
  - Powerofmene 9y ago
    People in the hurricane are not necessarily who I was talking about. I was not affected by a hurricane other than gasoline in my area has increased 80 cents a gallon in ten days. Any person who purchases gasoline has been impacted. I am simply saying that this increase hits those with less padding in their budget are hit harder than those who have more discretionary income.
- AstralStorm 9y ago

cardiffspaceman 9y ago

Banking point: Let's work this through. Start the banking day with $10. You have $11 in checks clearing and $11+N in pay automatically deposited. You should end the day with $10+N balance. You would have an overdraft because the checks are recognized ahead of the deposits. You'll end up ahead on the day, but at least one check didn't get paid and you'll have costs from that. How do I keep this from happening?

restingrobot 9y ago
The flaw in your point is that you should not have $11 in checks clearing with only $10 in balance. This means that you wrote the check without enough money. People its your responsibility to keep track of your balance, not your banks. This seems to be a common misconception in modern times.
- cardiffspaceman 9y ago
  The reason I mentioned clearing is that the day that the bank sees the check is not the same as the day it is mailed, or the day that it is handled by the recipient. There are variables. If you are trying to achieve a decent financial status, you might want keep your cash in the savings account that earns better interest, instead of keeping excessive funds in the checking account. I'm engaging on this because I'd like to hear if there is some option besides having a benefactor provide me with a spare 'N' dollars to allow my checking account to have a buffer against the bank's unfriendly policies and the other random effects.
  - restingrobot 9y ago
    I think you missed my point. You should not write a check for more money than you have, (you can but you are taking a risk that it will bounce). You do not need a buffer, you need to track your money better. The second that you write a check, it should be deducted from your, (your meaning the record you keep not the banks record), balance. In this scenario, when you wrote the check, the balance would be -$1. That is the problem here. The bank can clear or not clear things in any order, but if your recording is better, you will never have an issue. The benefactor you speak of is your own records, if you do not keep them, you are doing yourself a disservice.