There is weakness in all of us, and my weakness is not keeping a good record. When it come to tax time I am usually doing homework on when I bought and sold my stocks. I need to improve on keeping a good record of everything.

Bank can charge as much as 46 percent interest each time there a negative transaction in your account. This is worst than any credit card company. The Center for Responsible Lending estimates that banks collected $10 billion in overdraft fees during 2005. I just think that is too much in fees that consumers paid.

People like me can’t hardly keep a record. The best way for me is to open a saving account and link it to a checking account. I am going to open a saving account today, yup that is what I must do.

Summary

Being a good investor is not all about investing. You also must control your personal finance and keep it in check. You must also learn to keep good records of when you buy and sell (buying little by little can be a big headache during tax time except ROTH account). You must learn to attack the things that is stealing your money. Don’t let bank or anyone take advantage of you (fight back).