Final answer:
To minimize total fees, Joshua should choose an overdraft option with the lowest fees. However, there are downsides to using overdraft that Joshua should be aware of.
Step-by-step explanation:
To minimize total fees, Joshua should choose an overdraft option that has the lowest fees. Some banks offer different types of overdraft options, such as overdraft protection or overdraft line of credit. Overdraft protection allows the bank to transfer money from a linked account to cover a negative balance, while overdraft line of credit grants a small loan to cover the shortfall. Joshua should compare the fees associated with each option and choose the one with the lowest fees.
However, it is important to note that there are downsides to making the choice to use overdraft. While it can provide temporary financial relief, continuously relying on overdraft can lead to a cycle of debt and high fees. It is crucial for Joshua to carefully manage his finances and avoid excessive reliance on overdraft to avoid long-term financial difficulties.