Fees, Fees, Fees!!

Fees can quickly get out of hand, causing you to "spend" more money than you initially anticipated. Here are some common fees, and ways to avoid them.

Overdraft fees - Sign up for alerts from your bank when your balance falls below a certain level. Make a transfer or a deposit and avoid the overdraft fee.

Annual credit card fees - Switch to a credit card that doesn't charge an annual fee. Use this strategy if your card charges you a non-usage or low-usage fee. Credit unions are a good source for cards with lower finance charge rates.

Checking account fees - Regular checking accounts have lower fees than interest-bearing checking accounts. Again, credit unions and local banks are less likely to charge monthly fees for checking accounts.

ATM fees - If your bank doesn't reimburse you for foreign ATM fees, switch to a bank that does or has more local branches. Another alternative is to download an app (independent or from your bank) that will locate a nearby ATM when you are out of town.

Eventually, banks may get the idea that we're not into paying additional fees, and make life easier for all of us. Until then, every little bit we can do to save money is a step in the right direction.