TIP 4: Involve your kids in saving. Play games with them that shows them how to use money wisely. Money Matters is a game by Larry Burkett that does just that. Another way is to help them earn money save you money by encouraging them to cut coupons. To do this, give them a percentage of how much money you save when you use coupons they cut at grocery store. They organize your coupons, helping you save and earn extra allowance too!

By making pinching pennies a hobby instead of a chore, you will save your family more money and find it exciting too!

Now it is clear why electronic banking methods are preferred by financial institutions. In fact, most banks are rewarding their customers with lower fees more customer does his/her banking electronically. For example, even though Automatic Teller Machines (ATMs) costs bank around $100,000 each plus cost of computer network and maintenance, cost of these type of transactions drop to $0.50 — $1 each. Not only are these machines more cost effective, 24-hour availability to customers is very convenient.

With ease and convenience of Automatic Clearing House (ACH) payments, this “checkless” process drops price to around $0.25 each. And finally, Internet drops expense even further to less than $0.10 a transaction. I realize that there is still some fear of banking electronically, but security that banks have instilled with computer technology far surpasses current security of traditional banking methods. If you lose your checkbook and wallet, cost and worry of canceling these checks is very tedious. It’s very possible that a thief could forge your name and deplete your accounts in a matter of hours. The sophisticated computer technology, however, although not perfect, has a far more secure system to protect you and your money.

Avoid being bank’s best customer. Attempt to cut your annual bank fees in half by educating yourself. Inquire about options and products available to you with your banker. By asking about alternative banking methods, you may find that your bank fees will drop considerably.