Looking into these could save you as much as 50% on the monthly fee.

ATM
You'll find an Automated Teller Machine nearly everywhere there are people. They offer access to cash from your bank account at any time. But this easy access can be dangerous. Record all of your withdrawals or you could find yourself broke before you can say "ATM."

If the ATM belongs to your bank, your ATM withdrawal might be free (you typically get a certain number of free transactions a month, depending on your plan). But if the ATM belongs to another bank, you may be charged $1.50 and up -- plus your bank's ATM fee -- per transaction. If you find yourself being charged frequently, try to anticipate your spending and take out enough cash to cover all your expenses at one time. Or better yet, plan a weekly trip to your bank's own ATM to withdraw the money you will need for the week.

Debit cards
A debit card offers the convenience of using a credit card while allowing you to spend only what you have in your account. It's a great way to avoid racking up debt. But, like your ATM transactions, you should keep a record of these transactions and be sure you have the money available in your account before you make a purchase.

Keep in mind that a debit card IS NOT a credit card. If you spend more than you have in your account, it's the same as bouncing a cheque. And since you are only spending what you have and are not using credit, a debit card will not help you build a credit history.

Credit unions
A credit union is owned and controlled by the people who use its services. So if you use a credit union, you are a part owner of it and will be treated to lower-than-average service fees and minimum account balances.

Not everyone can join a credit union, however. Credit unions are formed by members with a common bond. For example, some credit unions are formed by students attending a particular university. If you happen to be attending that university, you are eligible to join that credit union.

Don't immediately join any credit union for which you are eligible. While most are quality financial institutions, some are not and may not have the organization and efficiency to offer good customer service and favourable interest rates. Do some comparative research into interest rates, fees and customer-service ratings before signing on with a credit union.

Online banking
If you have Internet access, online banking can be an easy way to manage your finances. You can check your transactions and balances online as well as pay bills-all without even having to get dressed. The downside to online banking can be the lack of personal customer service. If you find a traditional bank in your area that also offers online banking, you've got the best of both worlds. Just be aware of extra fees a bank may charge to let you complete transactions online.