Ramiro suggested that I write today's post about what we've been going through lately with our money. And to keep it fun, I'm going to use ClipArt (remember that thing??) images to accompany my writing. Delightful, no? Let's go!
This is what money looks like.
Last month, on October 12th, Ramiro and I left Bank of America for a local Credit Union. That's right, we did this well before your fancy "Bank Transfer Day" on November 5th! Anyway, while we're glad we left Bank of America (just because they got rid of that one new fee doesn't mean they're getting rid of all of their ridiculous fees), we've been met with some unexpected challenges since transferring... Namely, we haven't been able to touch our money since we deposited it!
Imagine trying to do all the things you normally do...with no money.
It's not that I haven't been working, or that I haven't been getting paid. Here's the deal: My biggest client pays me "every two weeks" (which is really 2.5 weeks because they send it on the 2 week mark and it gets here in the middle of the 3rd week). And then, since we're new customers, our Credit Union puts a 2 week hold on each paycheck I deposit. And that's 2 weeks of "business" days (M-F). So say you deposited a check today (Monday the 14th)...You wouldn't get to TOUCH that money until Friday, December 2nd (they don't count the day you made the deposit). So, the money we deposited when we opened the account...? That's right. We didn't get to use it until around the 5th. And if you count the 2.5 weeks I had to wait to get the paycheck in the first place, well, we went for over a month with no money.
It's enough to make you want to give up banks all together and just use the ol' mattress-stuffing method!
I can't believe ClipArt had a graphic for that.
Anyway, that last paycheck had to go entirely to bills--which, as you would imagine, had stacked up considerably in that month with no money!
I got my next paycheck, but, again, since it was within the one month time limit of being a "new" customer, our money was put on a 2 week hold. So again...2.5 weeks to get the paycheck, and another 2 weeks before our bank lets us use the money (and of course there was a holiday on top of that). So we're going another month with no money.
Are you thinking about money? This guy is.
So now you know why my Blog entries have been so gosh-darned boring lately. It's hard to do anything fun with no money!
In the past couple weeks, we've been sent money from our wonderful family & friends so that we don't starve while waiting to get access to our funds. Thanks, Guys! (You know who you are). We love you and you WILL be paid back soon.
This image represents the best thing to get in the mail ever.
It's SUPER frustrating to actually HAVE money, but not be able to use it!
On the bright side, we finally have a savings account (one of the requirements for opening up a checking account). Longtime readers will remember that that's been a goal of mine for a long time now. Hooray!
ClipArt's image for "saving money."
And, of course, there's no fees whatsoever and we've really enjoyed the "personal touch" of our new bank. It's been really nice to actually go into a bank (a NICE bank!) and speak to a human being.
So what can you take away from this? Well, I don't normally like to talk about money publicly, but Ramiro and I thought it would be a good idea to share our experience with you--since so many people are transferring their money to local credit unions--so that you would be prepared for any ridiculous holds they might throw at you. Don't put it ALL into the bank like we did...take out some CASH from your old bank and stash it away. If your new bank is anything like ours, you're going to need it!
In the meantime, I'm going to keep working and earning money...that we'll get to use...eventually.
See you next week!
--Lauren*
http://littlezotz.com
