Gabe Albarian's Banking Tips To Prosper In 2012

STUDIO CITY (CBS) — What better way to prosper in 2012 than to kick off a savings plan!

Gabe Albarian visited the KCAL 9 studios Thursday to share some smart banking tips for the new year!

Banking Tips to Prosper throughout the New Year

Monthly service fees can cost anywhere between $5 to $50 per month, depending on the type of account and banking institution.  Below, Gabe has outlined some easy ways to best avoid paying this costly charge:

Maintaining Lower Fees at Your Existing Bank

●Downgrade your account type to one with a lower minimum balance requirement

●If possible, use 'direct electronic deposit' for quicker access to funds & free accounts

●Utilize Online Banking/Bill Pay

Trying a New Option to Traditional, Institutional Banks:

●Credit Unions are a great alternative that don't have membership restrictions, as previously believed

●Disadvantage: not many banking locations

●Advantage: Little to no fees on account services and checks, free access to ATMS

nationwide, and lower rates on student, home and auto loans

For the Tech Savvy Banker, Online Banking is a great choice:

●Very Competitive Interest Rates on your money

●Your Money can be transferred to your existing institutional bank with a click of the mouse

●Little to no fees on account services and checks with free access to ATMS nationwide

For more financial tips from Gabe, visit him online.