Bank of America has announced that they will end overdraft fees on debit purchases. It sounds like a good thing for consumers and it is, until you wait for the other shoe to drop. Where will B of A recoup the half billion dollars it will lose from this new proposal? When the company augmented their policy to waive the overdraft fee if the account holder was less than $10 in debt, they lost $160 million.

For the consumer, this is great! If you don’t have the money then you shouldn’t be allowed to make the purchase. If you don’t have enough cash and then try to make a purchase you have to put something back. Bounce a check and a business may no longer accept checks from you. Not enough in your bank account and you can’t make the purchase. Seems logical and sounds like a great concept. Yet there is still a nagging voice asking what will Bank of America get in return? If many people opt out of overdraft fees then the bank will lose money. Who is going to pay? What will the consumer have to give up or pay for in return for B of A’s largesse?

Be daring. Take a chance on rice.

Rice is very versatile and will work with many cuisines.

Preparing the foods that you really like from scratch can save you a lot of money but can be scary on your first attempt, especially if you are all thumbs in the kitchen. Don’t have a cookbook of your own that will give you directions? Look online until you find a recipe that you can make yourself.

Buying takeout may give you more sodium or fat than you want but by making your own favorite rice dishes at home you can control the amount of salt, make it healthier and as savory as you like it.

I made Mexican rice as a side dish for tacos last night. The greatest part about this is that now that I know how to make it I can make a smaller amount for a lot less than buying a prepacked mix with the seasonings and rice which will last for 4-5 servings. A three pound bag of rice cost less than one packaged of seasoned rice mix. Even if I experiment and make something that is a culinary dud have saved money by preparing one cup of rice. Another advantage is that I can make less than a cup of rice which is approximately the amount in a box of rice mix.

Experimenting with a cup of rice which costs less than a quarter with seasonings and spices you have at home is better than paying close to $2 for a boxed mix that you dislike.

This video speaks volumes. I have long held that greed is one of the great motivators in the world. The love of money makes people do things that hurt others. If you trust a company and find that the only reason they were doing things was because of the company’s sole purpose of business was the love of money instead of wanting to help people… what would you do?

Yesterday, I received a notice from one of my banks letting me know that my once “highest interest rate around” which was why I decided to sign up with the bank in the first place was now offering 1.20% interest on my savings account. This is the second decrease in about 3 months.

The low interest rate should be of no surprise to anyone to see why people are shunning banks for saving. Since this is an online bank the only way to make a deposit I had to deposit money into an account and have it transferred since there is only one branch of this bank in Chicago.

Still 1.20% is better than nothing but not enough to make me transfer cash that I am saving for short term goals. When the interest rate was 3.55% about a year ago transferring cash that I received for my birthday or Christmas into the account until I decided what I wanted to buy made me feel as though my gift givers were giving me a little extra. Moving the money around for less than a dollar a month wouldn’t buy a coffee from 7-11.

The additional income which amounted to less than $12.00 for 2009 could be used for something else. Yet, moving the money around just to earn less than $12.00 or less than a dollar a month isn’t worth it. In a month, I find more in spare change (and will pick it up) and don’t have to report it as taxable income.

Is that coupon taunting you? Yesterday without any trouble I tossed some coupons in the recycling bin because I knew I would never use them. Yet, there are still a couple of coupons that I am holding on to because they haven’t expired yet and I still might use them. The coupons that I am recycling I don’t know anyone who would use the product and don’t know where the product is even sold so the next time I went to the store I could put the coupons on the shelves near the time. That was too much work since I don’t know where to buy the product.

Coupons, like cash or credit cards can burn a hold into you pocket if you are not accustomed to them. Who really wants to pass up a great deal? If the item is free but you won’t use it, then why would you want to use a coupon promising you two of the same item for free with purchase?