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Overdraft

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  • 20-11-2007 10:54am
    #1
    Lux23
    Registered Users Posts: 7,134 ✭✭✭


    Over the last year I have found myself overdrawn quite a bit. I get paid by the week and some weeks I find my wages gone almost immediately after getting paid so the next week I am even worse off. My bills and rent are always paid and when this happens I always stay in for a couple of weeks and spend very little. My question is should I really be worried about this overdraft, is everyone like this especially at this time of year? Am I unusual in this?


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    #2
    FredsWebHead
    Registered Users Posts: 84 ✭✭FredsWebHead


    I have an overdraft of €500 for €25 a year and find that I go into the red about once in every 5 to 7 weeks. Like yourself I stay in and spend little, to come back out of it. I suppose it means to me that I'm spending more than I earn. I think there is a lot of people out there that have OD's and I hear also that some people don't pay it yearly and get charged on a weekly interest rate. Which in my view might be costly. At the end of the day I suppose it all depends on how much it costs and are you comfortable paying it. Time will tell here I suppose.


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