With Australians right around the country frugally looking for ways to tighten the purse strings during this economic downturn, it makes sense to look at every dollar that's leaving your account and work out where the money's going.

There are obvious ways you can reduce spending like cutting back on take away and your morning coffee, but to be honest I'd rather not.

So what would you say if I told you that you could save money every month without having to forego any of the little pleasures we enjoy on a daily basis?

It's true. What I'm talking about is fees.

Think about it. You pay $2 here for using another bank's ATM, $5 there for not returning the DVD on time and by the end of the month you seem to have racked up $20 or so.

ATM fees in particular have been in the media lately because of the introduction of the new ATM Direct Charging reforms. Under the reforms, you're now charged directly by the ATM owner when you use an ATM not belonging to your bank.

However, given most banks now offer customers at least one account with unlimited ATM transactions, as long as you use your own bank's ATMs, you really can avoid getting charged what are known as ‘foreign ATM fees'.

Here are a few simple ways to avoid ATM charges:

1. Use your own bank's ATMs. It's the most obvious answer and one of the easiest. Most banks now offer an ATM Locator service on their website, and some banks (BOQ) also offer an SMS service, whereby you can SMS your location to the ATM Locator number and it will text you back to let you know where the nearest ATM is. Knowing where the closest ATM belonging to your bank is in regard to your work and your home will make it that much easier to avoid paying ‘foreign ATM' fees.

2. Withdraw cash when you're using EFTPOS. Despite the costs involved, banks do not charge you for EFTPOS transactions or for withdrawing cash when you use EFTPOS. Most supermarkets, petrol stations and convenience stores offer EFTPOS and cash out facilities, so make it a habit to withdraw cash when you're doing your grocery shopping or filling up your car, and you'll find you're less likely to be caught short for cash and needing to use a ‘foreign' ATM.

3. Withdraw more cash at a time. Without wanting to encourage people to carry around big rap star wads of cash in your wallet, withdrawing a little more each time you use the ATM means you're less inclined to run out when you least expect to.

So just by changing your behaviour slightly you can avoid paying ATM fees all together! Obviously you are sacrificing the convenience of being able to use any ATM you choose, but as you know, even a $2 fee adds up if you are being charged it every second day.

Next thing on the list is late DVD fees, but that's a change in a behaviour that's so deeply entrenched, I'm not sure I'm ready to tackle it just yet. And it's a whole new column entirely…

*As always, these are just my thoughts and opinions – please don't take it as advice. Before you make any decisions make sure you talk to your financial adviser who actually knows your circumstances.