Thank You for visiting! Merci pour avoir visite

Translate my blog

Saturday, 27 October 2012

ATM Machines

    'At the moment' cash machines are the gift and curse of the middle class and all students. The other day a dietitian and wellness consultant was talking to me about how ATMs actually work After reading the book "Rich Dad, Poor Dad" this summer and gaining financial literacy, one of the things I thought about was: Are 
ATMs really necessary?

    They are convenient and they can bail you out of a tight bind when you are 
strapped for cash. However, you will pay for such a convenience. Usually 
when you take money out, you pay between $1.25 and $3.50 to get YOUR money. 
    Now, you are probably thinking, "Ryan what does this have to do with health 
and wellness?" Answer: "Why do you have to pay money to get YOUR money. It 
doesn't make any sense at all when you sit back and reflect on it." To me, 
paying money to get money is almost like running backwards up the steepest 
hill without proper footwear, hydration and clothing. Why would you do it? 
It just does not seem rational.

    I suggest getting your money from your own bank and avoiding these undue 
fees. This can save you money that you can contribute towards your health by 
purchasing healthier groceries. Let's break this down:

    If you withdrew from ATM machines an average of once per week for an entire 
year when you are just out and need some cash and if the average fee was 
$2.00 you would be throwing away $104.00/ year. If you did that each year 
for 10 years that would be $1040.00 of your money you will never get back. 
How many people withdraw money more than once a week?

    Now, next time you need quick cash, try planning ahead of time and/or have 
cash tucked away for certain things. Planning and preparation with your 
money will get you ahead financially just as it gets you further ahead with 
your exercise routine.

Ryan Fahey
B.A Human Kinetics
CPTN Canada 
Canfitpro FIS, PTS 

No comments:

Post a Comment