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Money in the News: Job Alert, BofA, Money Mistakes, Money Saving Habits, $1,000/year on Coffee

The Consumerist posts about how the Bank of America Debit Card Fiasco resulted in a 20% jump in closed accounts.

Though Bank of America surely expected a certain amount of attrition when it announced it would begin charging a monthly fee for some customers to use their debit cards to make purchases, it probably didn’t expect that it would see a full 20% increase in the number of customers saying “bye-bye” to BofA.

Jean posts a link/video to an interview about avoiding simple money mistakes.

Last week, released a list of 10 things you do to save money that actually end up costing you more. This morning, I went on Today to talk about this list and how you can avoid making these mistakes. To see why you should make an appointment with your dentist now — and why the cheapest products aren’t always the best buy — check out the video clip below.

Generation X Finance posts about five money saving habits you’ll want to learn this year.

Find an alternate means of acquiring things. Before you shell out a bunch of money to purchase something, really think about your options. Is it something that will eventually go on sale? Can you pick it up at a garage sale or thrift store? Is it something you can make yourself? Can you do without it altogether? So many purchases are made impulsively. Stop and take a moment to evaluate an item’s necessity in your household. If you find yourself wondering for a second if it is needed, don’t buy it!

Job Alert! CNN Money posts about 25 companies that will be hiring at least 700 openings each in 2012.

[View all Job Alerts]

The Consumerist posts about how American workers spend more than $1,000/year on coffee.

According to Accounting Principals’ latest Workonomix survey, the average American worker is shelling out more than $20 a week on coffee, for a yearly average of $1,092. Whereas commuting costs for the average worker come out to around $1,476 per year. And when you consider the volume of your typical coffee drink versus a gallon of gasoline, it looks like we place a higher value on our java jolt than we do on the 87 octane in our gas tanks.

About Crystal Groves, Google+

Crystal Groves is a farmer, web developer, musician, blogger, and personal finance enthusiast from the back hills of Maryland and Pennsylvania. She started Money Drain as a project to encourage people interested in fixing their financial situation to share their stories and learn from the stories of others. We all make mistakes, but in order to change we have to make changes.

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