Debit cards often get compared to credit cards in terms of convenience and access to funds but when it comes to fees there can be significant differences.
While debit cards do not have annual fees, unlike most credit cards, they can sometimes lead to monthly account fees that add up as the year goes on.
These fees tend to depend on the bank and the kind of account that is chosen, rather than the actual debit card.
Debit cards offer a convenient way to pay for things in almost any situation but minimum purchase amounts can quickly turn an easy swipe into a big expense or inconvenience.
Minimum purchase amounts are used by some stores as a way of balancing out the processing fees charged every time a credit or debit card is used.
While cardholders do not directly pay for these fees, the costs can be passed on in the form of surcharges or a minimum purchase requirement.
Internet banking is one of the most convenient personal finance tools currently available and can help manage everything from regular payments to debit card spending.
While it was previously standard to expect a bank account statement every three months or so, with everything online people can now access their account details at any time.
Not only does this make it easier to manage money, it can also help track spending and develop better budgets as quickly as possible to maximise on convenience and savings.
While most everyday bank accounts now come with a MasterCard or Visa debit option, not everyone will need one of these cards on an everyday basis.
In the past, most general bank accounts came with a basic debit card option that provided more convenient ways to access money and could be used for ATM and EFTPOS transactions.
The end of the year is a time when spending money plays a bigger role as things get more social, gifts are exchanged and holidays taken to spend time with the family.
But that does not mean your debit card has to be worn out over the holiday season, or that your bank balance has to dwindle to it’s lowest all year.
To help you get a handle on expenses for the festive season, here are five easy tips to use while shopping and planning events.

