Stop the ATM money drain

Expect to pay different fees depending on which bank you're with and what type of account you have. For instance, Absa charges its Mzansi cardholders R3.87 as opposed to its Flexi account clients for which it charges R2.80 for the first R100, according to their site.

So the first thing to do is shop around, find out which bank charges the lowest rates. The cheapest bank in South Africa to opt for would be Capitec.

While four transactions at Capitec would cost users a total of R8, at other banks, the same number of transactions would cost R24, that's a saving of R16.

Here's how you can almost cut out ATM fees completely:

• Avoid withdrawing from another bank's ATM. A customer who draws cash from another bank's ATM pays on average R10 for every R200 withdrawal.

  FNB has already proposed that all saswitch fees be scrapped to help the consumer save on ATM charges.

• Take out larger amounts of money. Avoid extra fees by withdrawing one lump sum to cover your weekly expenses.

  This can also help you stay on budget. Once you've made your way through the week's cash, you'll know it's time to stop spending.

• Make a point of "point-of-sale" transactions. Don't overlook the opportunity to get cash back at your local grocery store or pharmacy. It generally costs far less than visiting an "off-network" ATM.

• Avoid abusing out-of-town ATMs. Debit cards make it tempting to use ATMs when you're away from home, but this can cost you a bundle. When travelling, plan on using cheques and credit cards instead.