With the economy on the rocks and no promises from Wall Street, consumers nationwide are stepping up efforts to get their spending under control.

For many, bad habits cultivated during the decade-long bull market have been tough to break. After all, cutting corners to create an emergency fund can seem an impossible task when that $4 latte you've come to rely on is not negotiable.

The good news is, there are still ways you can save by simply being a careful consumer -- ways that won't crimp your style.

Here are our top five suggestions.

1. Make sure you have the right mortgage. New mortgage loans and refinancings have soared since last fall, when mortgage rates hit historic lows. The only problem is that some people are getting a little too enthusiastic, grabbing new mortgages without much thought to the particulars.

A few guidelines: If you plan to stay in your house only a short time, getting an ARM with a low introductory rate for a few years might do the trick. If you're planning to stay awhile (five years or more), it's probably best to lock in a 30-year loan while rates remain low. Another tip? Those in the middle of a 30-year loan might do well to refinance to a 15-year fixed mortgage for the lower rates they provide, said Robert Van Order, chief international economist at Freddie Mac.

To find out how much you can save with a refi, try CNN/Money's Refinancing Calculator.

2. Give your bank account a checkup. Bank fees add up fast -- checking accounts alone costs between $190 and $218 a year, according to Beth Kobliner, author of "Get a Financial Life: Personal Finance in Your Twenties and Thirties."

But you might be able to save $100-to-$200 each year on fees by joining a credit union (a not-for-profit financial cooperative that serves consumers with a common interest), according to the latest data from the Credit Union National Association (CUNA).

Banks also charge an average $19.78 per overdraft, according to the Fed, almost $8.50 more than credit unions, which charge $11.35, according to CUNA. At the same time, banks charge about $25 for every bounced check, according to Bankrate.com, while credit unions charge about $17.25 per rubber check, according to CUNA.

Even if you're fastidious with your account – it never dips below the required minimum balance and you never overdraw -- a credit union may still serve you better. That's because more than twice as many credit unions offer free checking accounts and free services as banks.

Article continued at http://money.cnn.com/2002/08/16/pf/saving/q_painfree/index.htm