Fees are charges that individuals or businesses pay for specific services or privileges. They can vary widely depending on the service provided, such as banking fees for account maintenance, tuition fees for education, or subscription fees for online services. Fees are typically set by the service provider and can be one-time payments or recurring charges. Understanding fees is important for budgeting and financial planning. Some fees may be avoidable, such as late payment fees, while others are necessary for accessing certain services. It's essential to read the terms and conditions associated with any service to be aware of all applicable fees.