Debit cards make our daily lives much more convenient. Whether we wish to withdraw money or buy our favorite products from the store, these cards make everything possible. Unlike credit cards, we also do not have to bear charges or pay high interest rates at the end of every month. But although debit cards have so many positives, we must use them wisely. There are a few common mistakes people must avoid. Not keeping a record of all transactions All debit card holders know how beneficial that piece of plastic is. It makes all shopping transactions easy by completing them with just one swipe. However, after someone swipes their card and checks their account statement, they may often realize their balance is still the same. Sometimes, a debit card transaction can take a few days to reflect in the balance. So, it is vital to keep an offline record of one’s transactions and update it regularly. If a person has a joint or shared checking account, they must also record their partner’s debit card usage and transactions. If they do not do so, they might accidentally use the card for a transaction without realizing that their account balance is low.

Online payments have evolved to a point where “buy now, pay later” is a frequently used transaction method today. Millions of shoppers across the country use the option of paying a certain percentage of the purchase price of a product now and paying off the remaining amount in a predetermined number of equal installments over time. Buy now, pay later has multiple benefits, but buyers must be aware of and avoid its pitfalls too. 4 common buy now, pay later mistakes to avoid Taking multiple loans in a short space of time The option of purchasing things that one has always wanted and paying a portion of the price later is quite alluring. Thus, some individuals buy several products and services at once or within a few days or weeks without thinking about the accumulated credit. One thing people should not forget is that buy now, pay later schemes are like bank loans. So, as easy as they may make getting access to money and products in a given moment, it also requires users to pay back the remaining amount to banks, with an added interest percentage if they cannot pay on time. So, if people use this payment scheme several times in a short period, then their debts will also keep rising and they are likely to face mounting deadlines and interest amounts within no time.