What you don’t know about government could be draining your wallet. These costly myths may be affecting your finances more than you realize.
Sean Locke Photography / Shutterstock.com
Misconceptions about how government works have endured. From support to misunderstood power dynamics, here are five myths that people still believe—and the truths behind them. By breaking down these myths, we can better understand how policies and decisions shape our daily lives—and how knowing the facts can help you make smarter financial choices and get ahead.
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When it comes to managing your money, your bank can be both a helpful ally and a sneaky source of unnecessary fees. Many bank customers don’t realize they’re paying extra charges every month for things they don’t need, or worse, things they didn’t even know existed.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. The good news is that with a little awareness and some proactive steps, you can avoid them and save yourself some cash.Here are five hidden fees you might be paying at your bank — and how to avoid them.1. Monthly maintenance feesSome banks charge a monthly maintenance fee just for having an account. These fees typically range from $5 to $30 per month, which can add up to hundreds of dollars per year.How to avoid maintenance fees:Switch to a no-fee account: Luckily there are plenty of great banks that offer accounts with no maintenance fees whatsoever. Check out our list of best high-yield savings accounts to find a fee-free account.Meet minimum balance requirements: Many banks waive maintenance fees if you maintain a certain balance. Know the requirement before opening an account and make sure you can always meet the minimum.Opt for online-only banks: Many online banks don’t charge monthly fees. Look for banks that don’t have physical branches but still offer competitive features, like high interest rates and no minimum balance requirements.2. ATM feesUsing an ATM that’s out of your bank’s network can result in a hefty fee — both from your bank and from the ATM operator. These charges often range from $2 to $5 per transaction, and they can add up quickly if you’re frequently accessing cash from out-of-network machines.How to avoid ATM fees:Use in-network ATMs: Check to see if your bank has a large network of ATMs in your area. Many banks offer fee-free access to thousands of machines across the country.Reimbursements from your bank: Some banks, especially online banks, will reimburse you for out-of-network ATM fees. If your bank doesn’t maintain its own ATMs, there’s a good chance it’ll reimburse any fees.Hate losing money to ATM fees? Check out our list of banks with no ATM fees and keep more money in your account.3. Overdraft feesBanks typically allow users to overdraft their accounts, and then charge the customer — sometimes as much as $35 — for overdrafting. If you don’t keep an eye on your account balance, overdrafting could cost you hundreds of dollars.How to avoid overdraft fees:Get an account with no overdraft fees: Plenty of banks these days don’t have overdraft fees, and our best checking accounts page is a great place to browse new accounts.Link to a savings account or credit line: Oftentimes banks allow you to link your checking account to a savings account or a line of credit for overdraft protection. This means the bank will cover the transaction using the linked account, preventing fees.Set up account alerts: Most banks offer text or email alerts when your balance is low, giving you a heads up to transfer money before you overdraft.Use a debit card with overdraft protection: Some banks allow you to use overdraft protection, meaning your transaction will be automatically declined at checkout if you don’t have sufficient funds. While this may be inconvenient, it can help you avoid fees.4. Foreign transaction feesIf you travel abroad or make online purchases from international sellers, your bank may charge a fee for converting currencies. These fees typically range from 1% to 3% of the transaction, which can add up if you’re making large or frequent international purchases.How to avoid foreign transaction fees:Look for a travel-friendly bank: Many modern banks and credit unions offer debit cards that don’t charge foreign transaction fees. This can save you a significant amount of money on travel expenses.Use a credit card with no foreign transaction fees: Some credit cards, particularly those designed for travel rewards, do not charge foreign transaction fees.Use a multi-currency account: Some online banks and fintech platforms offer accounts that allow you to hold multiple currencies, helping you avoid conversion fees.5. Paper statement feesIn today’s digital world, receiving paper statements for your bank accounts is becoming increasingly rare — and costly. Banks often charge a monthly fee for paper statements, which can range from $1 to $5 per statement.How to avoid paper statement fees:Go paperless: Opt to receive electronic statements. By choosing paperless billing, you can eliminate this unnecessary fee. Plus, it’s better for the environment!Set up automatic notifications: Most banks allow you to set up email or text alerts for when your statement is ready to be viewed online. You’ll never miss a thing, and you’ll avoid that extra fee.Avoid extra fees at all costsHidden fees are one of the easiest ways banks profit off of customers. But with a little bit of research and some proactive management, you can avoid these charges and keep more of your hard-earned money. Whether it’s choosing the right account, opting for fee-free ATM usage, or avoiding overdraft fees, taking action today can have a big impact on your finances in the long run. Stay informed, be proactive, and take control of your accounts to prevent banking fees.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”
Image source: Getty Images
When it comes to managing your money, your bank can be both a helpful ally and a sneaky source of unnecessary fees. Many bank customers don’t realize they’re paying extra charges every month for things they don’t need, or worse, things they didn’t even know existed.
Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
The good news is that with a little awareness and some proactive steps, you can avoid them and save yourself some cash.
Here are five hidden fees you might be paying at your bank — and how to avoid them.
1. Monthly maintenance fees
Some banks charge a monthly maintenance fee just for having an account. These fees typically range from $5 to $30 per month, which can add up to hundreds of dollars per year.
How to avoid maintenance fees:
Switch to a no-fee account: Luckily there are plenty of great banks that offer accounts with no maintenance fees whatsoever. Check out our list of best high-yield savings accounts to find a fee-free account.
Meet minimum balance requirements: Many banks waive maintenance fees if you maintain a certain balance. Know the requirement before opening an account and make sure you can always meet the minimum.
Opt for online-only banks: Many online banks don’t charge monthly fees. Look for banks that don’t have physical branches but still offer competitive features, like high interest rates and no minimum balance requirements.
2. ATM fees
Using an ATM that’s out of your bank’s network can result in a hefty fee — both from your bank and from the ATM operator. These charges often range from $2 to $5 per transaction, and they can add up quickly if you’re frequently accessing cash from out-of-network machines.
How to avoid ATM fees:
Use in-network ATMs: Check to see if your bank has a large network of ATMs in your area. Many banks offer fee-free access to thousands of machines across the country.
Reimbursements from your bank: Some banks, especially online banks, will reimburse you for out-of-network ATM fees. If your bank doesn’t maintain its own ATMs, there’s a good chance it’ll reimburse any fees.
Banks typically allow users to overdraft their accounts, and then charge the customer — sometimes as much as $35 — for overdrafting. If you don’t keep an eye on your account balance, overdrafting could cost you hundreds of dollars.
How to avoid overdraft fees:
Get an account with no overdraft fees: Plenty of banks these days don’t have overdraft fees, and our best checking accounts page is a great place to browse new accounts.
Link to a savings account or credit line: Oftentimes banks allow you to link your checking account to a savings account or a line of credit for overdraft protection. This means the bank will cover the transaction using the linked account, preventing fees.
Set up account alerts: Most banks offer text or email alerts when your balance is low, giving you a heads up to transfer money before you overdraft.
Use a debit card with overdraft protection: Some banks allow you to use overdraft protection, meaning your transaction will be automatically declined at checkout if you don’t have sufficient funds. While this may be inconvenient, it can help you avoid fees.
4. Foreign transaction fees
If you travel abroad or make online purchases from international sellers, your bank may charge a fee for converting currencies. These fees typically range from 1% to 3% of the transaction, which can add up if you’re making large or frequent international purchases.
How to avoid foreign transaction fees:
Look for a travel-friendly bank: Many modern banks and credit unions offer debit cards that don’t charge foreign transaction fees. This can save you a significant amount of money on travel expenses.
Use a credit card with no foreign transaction fees: Some credit cards, particularly those designed for travel rewards, do not charge foreign transaction fees.
Use a multi-currency account: Some online banks and fintech platforms offer accounts that allow you to hold multiple currencies, helping you avoid conversion fees.
5. Paper statement fees
In today’s digital world, receiving paper statements for your bank accounts is becoming increasingly rare — and costly. Banks often charge a monthly fee for paper statements, which can range from $1 to $5 per statement.
How to avoid paper statement fees:
Go paperless: Opt to receive electronic statements. By choosing paperless billing, you can eliminate this unnecessary fee. Plus, it’s better for the environment!
Set up automatic notifications: Most banks allow you to set up email or text alerts for when your statement is ready to be viewed online. You’ll never miss a thing, and you’ll avoid that extra fee.
Avoid extra fees at all costs
Hidden fees are one of the easiest ways banks profit off of customers. But with a little bit of research and some proactive management, you can avoid these charges and keep more of your hard-earned money. Whether it’s choosing the right account, opting for fee-free ATM usage, or avoiding overdraft fees, taking action today can have a big impact on your finances in the long run. Stay informed, be proactive, and take control of your accounts to prevent banking fees.
Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.
[[{“value”:”Image source: Getty Images
Many people overlook valuable credit card perks and strategies that could save them money and boost their rewards. Whether you’re brand new to credit or a seasoned cardholder, these seven little-known credit card tips could save you thousands of dollars over time.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. 1. Annual fees aren’t always a bad dealWhile it may seem like a waste to pay for a credit card, annual fees can often be worth it. Premium cards with fees as low as $95 can offer perks like travel credits, airport lounge access, or purchase protections that far exceed the cost. And that’s not even including a welcome bonus that can easily be worth hundreds of dollars. Analyze your spending, and check out our list of best credit cards to level up your wallet today.2. Balance transfer offers can save you thousandsIf you’re carrying high-interest debt, a balance transfer card can be a game-changer. Some credit cards offer 0% introductory APR on balance transfers for up to 21 months, allowing you to pay down your debt without accruing additional interest. However, be mindful of balance transfer fees, which typically range from 3% to 5% of the amount transferred.3. Credit limit increases can improve your credit scoreA higher credit limit isn’t just about having more spending power — it can also help improve your credit score. By increasing your credit limit, you lower your credit utilization ratio, a key factor in credit scoring. Your credit utilization ratio is your outstanding balances divided by your total available credit. Keeping that number below 30% is essential; strive for keeping it below 10% if you want to reach the highest credit score you can.Want to unlock more flexible spending and possibly raise your credit score? Check out our list of the best high-limit credit cards now.4. Rewards can expireYour hard-earned rewards points or cash back bonuses aren’t always guaranteed to last forever. Some rewards credit cards have expiration policies for unused rewards, typically ranging from 12 to 24 months of inactivity. To avoid losing value, review your card’s terms and set a reminder to redeem your rewards before they expire.5. Cards offer built-in purchase protectionMany credit cards include purchase protection as a standard benefit, covering theft, damage, or loss of eligible items within a specified timeframe. For example, if your new smartphone is stolen within 90 days of purchase, you may be reimbursed under your card’s policy. Check your card’s terms and conditions to see what’s covered and how to file a claim.6. Foreign transaction fees are avoidableTraveling abroad? Don’t let foreign transaction fees — which can add up to 3% to every purchase — eat into your budget. Many travel-focused credit cards waive these fees, saving you money on international purchases. Before your next trip, ensure you have a no foreign transaction fee card in your wallet.7. Paying your bill twice a month can help your creditSplitting your credit card payments into two installments per month can improve your credit score. This reduces the balance reported to credit bureaus, lowering your credit utilization ratio. For example, if you spend a total of $1,000 during the statement cycle, but you pay off $500 of that amount mid-cycle, your reported balance is significantly lower. This strategy is especially helpful for those aiming to build or repair credit.Understanding these little-known credit card facts can unlock significant savings and benefits. Review the terms and conditions of your current cards, and explore options that align with your financial goals. With the right strategies, your credit cards can become valuable tools for building wealth and financial security.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”
Image source: Getty Images
Many people overlook valuable credit card perks and strategies that could save them money and boost their rewards. Whether you’re brand new to credit or a seasoned cardholder, these seven little-known credit card tips could save you thousands of dollars over time.
Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
While it may seem like a waste to pay for a credit card, annual fees can often be worth it. Premium cards with fees as low as $95 can offer perks like travel credits, airport lounge access, or purchase protections that far exceed the cost. And that’s not even including a welcome bonus that can easily be worth hundreds of dollars. Analyze your spending, and check out our list of best credit cards to level up your wallet today.
2. Balance transfer offers can save you thousands
If you’re carrying high-interest debt, a balance transfer card can be a game-changer. Some credit cards offer 0% introductory APR on balance transfers for up to 21 months, allowing you to pay down your debt without accruing additional interest. However, be mindful of balance transfer fees, which typically range from 3% to 5% of the amount transferred.
3. Credit limit increases can improve your credit score
A higher credit limit isn’t just about having more spending power — it can also help improve your credit score. By increasing your credit limit, you lower your credit utilization ratio, a key factor in credit scoring. Your credit utilization ratio is your outstanding balances divided by your total available credit. Keeping that number below 30% is essential; strive for keeping it below 10% if you want to reach the highest credit score you can.
Your hard-earned rewards points or cash back bonuses aren’t always guaranteed to last forever. Some rewards credit cards have expiration policies for unused rewards, typically ranging from 12 to 24 months of inactivity. To avoid losing value, review your card’s terms and set a reminder to redeem your rewards before they expire.
5. Cards offer built-in purchase protection
Many credit cards include purchase protection as a standard benefit, covering theft, damage, or loss of eligible items within a specified timeframe. For example, if your new smartphone is stolen within 90 days of purchase, you may be reimbursed under your card’s policy. Check your card’s terms and conditions to see what’s covered and how to file a claim.
6. Foreign transaction fees are avoidable
Traveling abroad? Don’t let foreign transaction fees — which can add up to 3% to every purchase — eat into your budget. Many travel-focused credit cards waive these fees, saving you money on international purchases. Before your next trip, ensure you have a no foreign transaction fee card in your wallet.
7. Paying your bill twice a month can help your credit
Splitting your credit card payments into two installments per month can improve your credit score. This reduces the balance reported to credit bureaus, lowering your credit utilization ratio. For example, if you spend a total of $1,000 during the statement cycle, but you pay off $500 of that amount mid-cycle, your reported balance is significantly lower. This strategy is especially helpful for those aiming to build or repair credit.
Understanding these little-known credit card facts can unlock significant savings and benefits. Review the terms and conditions of your current cards, and explore options that align with your financial goals. With the right strategies, your credit cards can become valuable tools for building wealth and financial security.
Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.
There’s no need to spend a lot of money on getting in better shape.
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Is your determination to lose weight or exercise more in conflict with your resolution to stick to a budget? Know that you can get healthy and save money at the same time, because there are plenty of cheap ways to get fit. You don’t have to spend hundreds (or thousands) to join a gym or hire a personal trainer. With a little ingenuity and a mix of old-school and high-tech solutions…
Cut costs, boost savings, and rethink your spending with these surprisingly effective tips.
Prostock-studio / Shutterstock.com
Saving money doesn’t have to be boring. If clipping coupons or skipping coffee isn’t your style, these insane yet brilliant money-saving strategies might be right up your alley. Whether you’re up for extreme challenges or just want to save creatively, these tips can help stretch your budget like never before.
Managing money doesn’t have to be boring! Explore creative ways to take control of your finances and turn saving and spending into an exciting adventure.
Prostock-studio / Shutterstock.com
Make investing exciting by choosing areas that spark your passion—like wine, whiskey, or real estate. Watching your investments grow becomes part of the fun, especially when you’re invested in something you truly enjoy. It’s not just about the returns; it’s about enjoying the journey of growth and discovery along the way.
Tarra “Madam Money” Jackson is a financial educator, international speaker, author, and wealth empowerment strategist helping you heal, build, and grow your wealth.
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