The High Price of Using Your Own Money

One of Bank of America's new year's resolutions for 2012 is to start charging its customers more to use their debit cards.

The banking giant announced last week that it would begin charging its customers $5 a month to use their debit cards for purchases. The announcement came on the heels of a study that showed debit card usage rising 10 percent between 2010 and 2011.

Following the announcement, Twitter exploded with negative reactions. Reactions ranged from mild annoyance to a promise to switch banking institutions due to customer outrage.

However, customers won't necessarily find relief elsewhere. Other banks are also considering price hikes on debit cards, as well as a variety of other product.

To make matters worse, Bank of America's online banking site was down or experienced problems throughout the bulk of the week following the announcement.