Checking account fees
It doesn’t make sense to pay a bank just to keep your money in a checking account, does it? Checking account maintenance fees can be as high as $35 if account holders don’t maintain a certain balance or jump through other hoops. A monthly maintenance fee of $12 is most common. But even that seemingly small amount adds up to $144 a year.
Fortunately, there are banks that offer free checking. So, if you were to switch your account to one of these financial institutions and invest the $144 you’d be avoiding in fees annually, here’s a look at how much you would have.
After 10 Years: $1,762
After 20 Years: $4,003
After 35 Years: $8,849 (by retirement age of 65 if you started at age 30)
