Account holders may not be aware that banks like Bank of America, SunTrust and Wachovia have increased fees on certain services. At a time when federal lawmakers are cracking down on questionable bank practices like hidden fees, and trying to implement more transparency among financial institutions, consumers should remain vigilant about their own finances to avoid paying big money for small mistakes.

Our friends at Wallet Pop have some good old-fashioned advice that–hopefully–even the least financially savvy consumers know to follow: balance your checkbook.

While pulling out the pen and paper may seem inconvenient, it’s the best way to avoid overdraft charges and insufficient funds fees. Wallet Pop notes:

Obviously, that’s harder to do than you’d think. You stand at the grocery and write a check instead of swipe your plastic, and people will glare at you. Slow things down even more by writing in the registry, and you’re going to really get glared at … We’ve actually made it so that it’s almost socially unacceptable to keep track of your finances — at least if it’s done in a way that inconveniences other shoppers for a few seconds.

The hassle of balancing your checkbook is worth the piece of mind that comes with being in control of your own money. Sometimes the easiest tasks are the ones that are overlooked, but getting a headstart on consistently managing your finances is a surefire way to avoid unecessary expenses like overdraft fees or interest charges. (Online resources like Mint.com or your bank website can be very elpful.)

Be Sociable, Share!

•