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Banks around the country are continuing to bleed red ink due to the foreclosure crisis and the weak economy. As such, they are looking for any possible way to make up for the lost revenue. I don’t know about you but I don’t have any extra money to give away to the banks. In this economy, it is important to watch and hold on to every penny.

Here are some fees you can avoid:

Bank Fees. There are way too many free accounts out there. If you don't know if you are being charged for your account, be sure to check your bank statement. If you like the bank you are currently with, check and see if you can switch to a different type of account that does not charge fees. If your employer offers direct deposit, many banks will waive the monthly service charge on your account.

ATM Fees. Fees for using another banks ATM can run as high as $3 and then you may be charged again by your bank for using another banks ATM. If your bank does not have many ATM's, consider switching to a bank that will refund ATM fees. My current checking account is with a small community bank that only has 2 branches. I like the account because they pay 4% on checking balances up to $50,000. They compensate for their lack of ATM's by reimbursing fees for using another banks ATM up to $20. Another way to avoid an ATM fee is to use your debit card at a grocery store or stores like Wal-Mart and Target and get cash back. 

Overdraft Charges. Here's another charge you can easily avoid. I won't say that I am perfect and have never made a mistake. I too have made a mistake in my balance and bounced a check or two in my lifetime. The important thing is to make sure it doesn't happen all the time. Keep your account in balance and don't try to "float" checks. If you don't have the money, you don't have the money. It's very simple; if you have $5 in your checking account, don't write a $10 check hoping your paycheck will beat the $10 check to the bank. Checks clear a lot faster these days and that $10 check may just end up costing you $25 - $35 more depending on what your bank charges for overdrafts. Don't rely on the balance you are given at the ATM because there may be items that have not cleared yet.