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Red Flag #5: You Write Checks Your Bank Can't Cash

Here's a four-letter word for you if you're regularly bouncing checks - STOP!

If you're not sure you've got enough in your account to cover an expense, don't even think about writing that check. Not only will you pay a small fortune to your bank for an overdraft fee – as high as $50 a pop– but you'll likely pay a merchant's fee for the returned check as well.

These are wasted, completely unnecessary fees that can add up to big dollars over time.

And be sure to check out How to Cut Your Banking Costs for more ways to stop spending money on wasteful bank fees.

Next: You Pay Too Many Late and Penalty Fees