#35:

What is an overdraft? What is it meant for?

Overdraft protection. Covers shortfalls in your income. Even if you don't have sufficient funds in your account. It allows you to complete transactions that other wise wouldn't go through. Avoids unauthorised overdrafts which leads to fees penalties.

My first ever debt was an overdraft.

Spain story.

Overdraft protection: Who are they protecting me from myself or my bills?

Had a good friend with income and always using their overdraft.

My advice to friend.

Friend of a friends spouse visa refused over constantly being overdrawn. 

Going for a mortgage, pitfalls of always being overdrawn.

Alternatives to overdrafts i.e. build cash buffer over time. 

Try to avoid paying direct debit for your bills.

Students and living in their overdrafts. Interest free offers to tempt.

Why are you transferring your wealth to these banks?

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