52 Money Save Ways: Week 11: Avoid Fees

52 week money challenge, money save ways,

money save Way 11

Thanks for joining another week of Money Save Way Tips. This weekly tip series to help you save money is an accompaniment to the 52 Week Money Challenge. If you are following along, you should deposit $11 into your savings or $42 if you are doing it in reverse.


52 Money Save Ways: Week 11: Avoid Fees


When it comes to fees and extra money we pay for services, many people don’t know that you can actually get out of them in many cases. Fees are often not set in stone and if this is true, why are you paying them? The average person probably pays hundreds of dollars in fees that they don’t have to every year.

Here are some common fees that you may be paying, unnecessarily:


ATM fees: You can often negotiate with your bank or financial institution to not pay some of these fees imposed by them by simply asking. In the future, they may be able to tell you how to avoid them by giving you tools and resources for staying in-network.

Gym membership fees:  Many gyms charge fees for initiation or classes. To avoid paying some of these fees, do your homework with competitors in your area. Ask them if they are willing to meet the fees set by other gyms or at least offer you some incentive to choose them such as free classes, guest passes or even free personal trainer time. Also, inquire if they have any referral programs and ask if they would be willing to waive fees for initiation for you and a friend if you are able to make a referral.

Late payment fees: The obvious thing to do is pay your bills on time, but what if you can’t on occasion? Simply calling and explaining the situation on why you will be late can often get fees waived on a one time basis. Of course, if you are always paying late, this won’t work, but if you have a good reputation for paying on time, you may be able to get out of it once in a while.

Credit Card Fees: Credit cards are notorious for having lots of fees associated with them on top of the interest. You can avoid many of these fees by simply comparing cards before you take offers on them. There are numerous cards out there with no balance transfer fees as well as no annual fees.

Bank Fees: Often, many banks offer an overdraft protection based on the amount of money you have in your account that you can set up. Many banks don’t actively advertize this so you will probably need to ask. To avoid many of the fees associated with banks as well as generally being able to have a lower minimum balance in your account, try joining a credit union.

I hope you found these tips useful when it comes to saving money on fees. Join us next week for another Money Save Way tip for the 52 Week Money Challenge.

For past weeks, as well as printables, check here:

Previous Marshmallow Leprechaun Hats
Next Spring Cleaning Your Fridge

1 Comment

  1. March 11, 2014

    I have two savings accounts, and a checking account at my bank and they actually told me since I had multiple accounts they would set up my accounts to “sweep” each other if one went negative. So say my checking goes negative $20 it would automatically just deduct $20 from my savings so I don’t actually go negative. As long as I always have enough to cover the amount between my accounts, I never have an overdraft fee.

Leave a reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.