Everywhere you turn, there are seemingly endless types of costs that you incur. With rising fuel costs, it may feel like you have an additional mortgage payment. In turn, fuel costs are affecting the price of food and other supplies. Everything we buy has to be shipped in. Grocery stores and retail chains have had no choice but to raise prices to cover the cost of shipping. Understanding what fees you charge can reduce your likelihood of facing debt.

So what do you do to make ends meet? Saving money often means avoiding any costs that aren’t absolutely necessary. But, there is a way to cut costs without feeling deprived, and that involves getting rid of all those extra fees. Avoiding fees can save you money, as well as curb you headed in the direction of debt. There are bank account fees and credit card fees.

ATM machines are very convenient, but they could be costing you. If your bank doesn’t have many strategically placed ATMs where you live or your holiday destination- make sure to avoid using another bank’s ATM. If you do, both banks for each transaction can charge you. If you don’t check your bank statement regularly, these types of fees may be going unnoticed. Speaking of not checking your bank statements, a great way to avoid fees is to keep track of your bank balance. Know how much you have available before you make a purchase. This is key to avoiding those really costly overdraft fees.

Interest rates aren’t the only extra expense on your credit card. Credit cards come with a variety of fees, such as: over the limit fees, returned payment fees, late fees, and more. Know your credit card! Make a list of fee amounts and put it where you can see it often. This will remind how much that little piece of plastic is costing you; you need to consider the credit card name, application fees, cash advance fees, service fees for claiming credit, balance transfer fees, over the limit fee, late fees and returned payment fees…only to name a few.

Then, when your bill comes in, watch for any changes in the amounts above. If you’ve made even one late payment, those fees can go up – a lot! Credit cards are convenient but they can be very expensive to use. Many of the worst fees can be avoided by making your payments on time. As you are aware, the higher your credit score, the better terms you will be offered by your creditors – meaning lower interest rates on the credit card itself. That means more money in your pocket. Make this a top priority for your finances.