Keep The Change
Happy NewYear!! I hope you all have a wonderful & Prosperous New year!! Now lets get Down to business. Bank of America Has neat little service called keep the change. Every time you use your check card The cents that are left out of every dollar You spend are transferred into a savings account. For example; Lets say your at walmart, Your purchase is $10.30 the 70 cents will automatically switch over into your bank of america savings account, This is awesome in so many different Ways. Lets say you swipe your card an average of 5 times a day 365 days a year. For the sake of easy mathematics lets say every purchase you make you have 70 cents go over into your savings account now multiply 70*5(the amount of times u swipe ur card)=3.50 Next, Lets multiply 3.50* 7(the amount of days in the week)=24.50 So thats 24.50 every seven days then multiply 24.50*52 (the approximate amount of weeks in a year) =1274.00 So thats 1,274.00 that you have saved the entire year just by enrolling in keep the change!! thats a nice chunk of change for say…CHRISTMAS shopping . or a down payment for a new car….And it makes balancing your check book a whole lot easier Because your only dealing with whole numbers.
Lisa said,
January 3, 2010 at 10:19 pm
So, the 70cents that is put into your savings account is your own money from checking account? Pretty much Bank of America is automatically saving for you?
ambezi said,
January 5, 2010 at 1:13 am
Hi Lisa !! Yes the 70 cents from your checking account. they are automatically saving for you.
ElleX said,
January 4, 2010 at 12:12 am
Hi Amber, I think this is a good idea for people who have a problem saving. I just wish it was at a Credit Union because BofA is too fee heavy.
ambezi said,
January 5, 2010 at 1:15 am
Hi ElleX, Thanks for reading. If you have a minimum of 25 dollars a month direct deposit into your savings account and if you have less than 3 withdrawls a month u avoid most of the fees. Its more so a tool for those who have a problem saving.