1. Bye-Bye, Late Fees: Millions pay credit-card late fees of as much as $39 each month. Use an automatic debit to make payments and you'll never be late again.
Annual Savings: $234
(eliminating six late fees a year )
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
2. Wipe Out Interest: The average household has $7,430 in credit-card debt. But let’s assume you have just half that. Take advantage of a 12-month 0% balance-transfer offer from Bank of America or Discover.
Annual Savings: $422
(on a rate of 13.6%)
3. Stay in-Network, Nix ATM Charges: Each time you use an out-of-network ATM, you pay an average of $3.43. Avoid charges by selecting a bank like Citibank, with more than 23,000 fee-free ATMs.
Annual Savings: $178
(based on one fewer out-of-network ATM withdrawal per week)
4. Get Free Checking No Minimum? No Matter: Brick-and-mortar banks charge an average fee of $12 per month for checking accounts and require an average minimum balance of almost $3,500 to avoid it. If you use direct deposit or make five or more debit-card purchases each month, Chase offers a free account with no minimum balance required. Or bank online at Salem Five Bank, pay no monthly fees, and earn 2.75%.
Annual Savings: $144
5. Use Cash-Back Cards Savings Really Add Up: Tired of accruing airline miles that you can never redeem? Switch to a cash-back credit card and earn enough in a year to pay for a coast-to-coast ticket. If you spend $850 a month for 12 months using Blue Cash from American Express, you could see a $250 credit on your bill at the end of the period. Even charging $550 a month on basics such as groceries, gas and drugstore purchases can put money in your pocket.
Annual Savings: $250
6. Bounce No More Sign Up for Free Alerts: The average bounced-check fee has increased 34% over the past ten years and is now $29, according to Bankrate.com. If you never balance your checkbook, sign up for your bank's free alerts to warn you if your balance drops to the preset amount of your choice. Need a safety net? You can get overdraft protection. Just be sure you know how much you're paying for it.
Annual Savings: $174
(six fewer overdrafts per year)
7. Refinance a Mortgage: Monthly mortgage payments take up the lion's share of most household budgets, so refinancing can produce substantial savings. With the interest rate on a 30-year fixed-rate loan at less than 5.5%, now is a good time to refinance.
Slashing your rate from 6.75% to 5.25% on a 30-year loan will save you 17% on your monthly payment. On a $200,000 mortgage, that translates into a savings of almost $193 per month.
Annual Savings: $2,313
(refinancing a $200,000 mortgage)
For your own situation, use the How much will my payment be? calculator at Kiplinger.com. Of course, for a refi to pay off, you must stay in the house long enough to recoup any closing costs, which typically amount to 2% to 4% of the loan.
TOTAL ANNUAL BANKING SAVINGS: $3,715
Slideshow: Top Savings Tips for 2009
-
Fed's Rate Cuts Could Have Impacts You Might Not AnticipateUnderstanding how lower interest rates could impact your wallet can help you determine the right financial moves to make.
-
Past Performance Is Not Indicative of Your Adviser's ExpertiseMany people find a financial adviser by searching online or asking for referrals from friends or family. This can actually end up costing you big-time.
-
I'm want to give my 3 grandkids $5K each for Christmas.You're comfortably retired and want to give your grandkids a big Christmas check, but their parents are worried they might spend it all. We ask the pros for help.
-
Amazon Resale: Where Amazon Prime Returns Become Your Online BargainsFeature Amazon Resale products may have some imperfections, but that often leads to wildly discounted prices.
-
Roth IRA Contribution Limits for 2026Roth IRAs Roth IRAs allow you to save for retirement with after-tax dollars while you're working, and then withdraw those contributions and earnings tax-free when you retire. Here's a look at 2026 limits and income-based phaseouts.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute VacationTravel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How Much Life Insurance Do You Need?insurance When assessing how much life insurance you need, take a systematic approach instead of relying on rules of thumb.
-
When Does Amazon Prime Day End in October? Everything We Know, Plus the Best Deals on Samsonite, Samsung and MoreAmazon Prime The Amazon Prime Big Deal Days sale ends soon. Here are the key details you need to know, plus some of our favorite deals members can shop before it's over.
-
How to Shop for Life Insurance in 3 Easy Stepsinsurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
-
Five Ways to Shop for a Low Mortgage RateBecoming a Homeowner Mortgage rates are high this year, but you can still find an affordable loan with these tips.
