Saving money on savings and investment products is a smart way to maximize your returns and minimize costs. Here are some strategies to consider:

1. Shop Around for the Best Rates

• Savings Accounts: Compare interest rates.
• Certificates of Deposit (CDs): Look for CDs with competitive interest rates and flexible terms. 

2. Utilize High Interest Savings Accounts

• Consider high yield savings accounts that offer better interest rates than regular savings accounts. These can help your savings grow faster.

3. Avoid Monthly Fees

• Choose accounts that do not charge monthly maintenance fees or find out how to waive them (like maintaining a minimum balance).

4. Leverage Tax Advantaged Accounts

• Contribute to accounts like IRAs and 401(k)s, which offer tax benefits. This can help your investments grow tax-deferred or tax-free.

5. Low Cost Investment Options

• Index Funds and ETFs: These often have lower fees than actively managed funds. Look for funds with low expense ratios.
• Robo Advisors: They usually charge lower fees compared to traditional financial advisors and offer automated investment services.

6. Minimize Transaction Costs

• When trading stocks or mutual funds, be aware of commission fees. Many brokers now offer commission-free trading, so choose one that does.

7. Diversify to Reduce Risk

• Instead of investing in individual stocks, consider diversified funds or ETFs that spread risk across multiple assets.

8. Invest for the Long Term

• Avoid frequent trading, which can lead to higher fees and taxes. A long-term investment strategy often results in lower overall costs and greater potential gains.

9. Take Advantage of Promotions and Bonuses

• Many financial institutions and investment platforms offer cash bonuses for opening new accounts or for referrals. Make sure to read the fine print and understand any requirements.

10. Regularly Review Your Portfolio

• Periodically check your investments and savings to ensure they still align with your financial goals. This can help you avoid unnecessary fees and adjust for better performance.

11. Use Automated Savings Tools

• Set up automatic transfers to your savings or investment accounts. This ensures consistency and can help avoid impulsive spending.

12. Educate Yourself on Financial Products

• Understanding the terms, fees, and features of savings and investment products can prevent you from falling for costly traps.

13. Negotiate Fees

• If you have a good relationship with your credit union or broker, don’t hesitate to negotiate fees. Sometimes, they can offer reductions or waive fees for loyal members.