Whether you are a borrower or a beginning saver, the best way to beat the bank at its own game is to learn some basics so you can make a better decision. I talk with Larry Bates, author of Beat the Bank, as he shares tips for outsmarting financial institutions and keeping the most of your hard-earned money in your own pocket rather than the bank's.

One of Larry's biggest messages is that if you understand the cost or fee structure of the financial products you are using, you can choose options that lower that cost. By keeping more of your money, each and every year, these seemingly small savings build up over time and can have a significant impact on your long term finances.

All that and more on today's show.