With cashless payments being widely accepted, debit cards have become highly popular globally. These cards are convenient, can be used at almost all retail outlets, and help one withdraw money instantly whenever needed. Also, many debit cards do not charge annual fees and offer cashback for spending money on certain products and at specific stores. But, to maximize the benefits, here are some common mistakes to avoid when using debit cards. Overlooking hidden debit card fees Some debit card companies charge hidden fees for overdrawing one’s account, entering the PIN to make a transaction, and other scenarios. If cardholders are not aware of such additional charges, they may never understand where their money is being spent. So, one should carefully read debit card terms and scan the document for details on such additional fees. Using multiple debit cards Different banks may offer various deals on their debit cards. So, it is common for individuals to use multiple cards to avail of all such offers. But with such deals comes additional fees charged by each bank on their debit cards. These overhead charges can increase one’s spending in the long run. So, it is best not to have more than three debit cards.

Paper checks are an important banking instrument that enables secure financial transactions. Although there are several modern ways to make payments, like debit or credit cards and payment apps, checks still reign as one of the most common and preferred modes of transaction, especially among older generations. Whether one is running a small business, managing personal finances, or just prefers the tangible nature of a check, there are several convenient ways to order checks. Ways to order checks for the first time Here are a few ways to order checks for the first time: 1. Online banking app One of the fastest ways to order a check online is to download the mobile application of one’s bank or financial institution, sign in to the account, and request a check under their specified section. For this step, though, one may require certain personal details like an account number, routing number, passcode, and zip code. It’s a perfectly safe and reliable option for ordering checks. 2. Put in a request to the bank Alternatively, one can also approach any branch of one’s bank or credit union. Banks usually offer some initial checks for free, but one may have to cover the cost of additional checks.

One of the latest and most popular phenomena in the world of financial transactions is the “Buy Now, Pay Later” plan or BNPL financing. These plans involve a third-party payment merchant that allows buyers to make purchases without paying any upfront amount. The due payments are paid over time, mainly without any interest rate or credit check. This process may seem interesting, but there are common mistakes one should avoid when committing to BNPL plans. Not reading the terms and conditions Knowing how the buy now, pay later plans work is important. Reading the fine print of these plans will help its users know exactly how they operate and scan through any hidden clauses. Buy now, pay later plans differ from one merchant to another, so it’s crucial that the buyer understand the plans and conditions thoroughly before signing up for it. The terms and conditions will allow the users to know how often payments need to be made, what actions to take when a payment is missed, and what needs to be done if there is an issue with the purchase. Late or missing payments This common mistake can lead to a financial crisis if not addressed in time.

The logistics and freight industry is worth over nine trillion dollars worldwide. This makes it an attractive avenue for scammers to make easy money. To ensure their safety, companies must take stringent measures, such as hiring reputable contractors and following security guidelines. Being aware of common freight bill frauds and how to avoid them can also help companies keep their shipments and profits safe and sound. Some common scams include: Fake load booking In many cases, the scammers work in tandem with drivers to make fake load bookings. Here, they steal the company’s identity and place it on an illegitimate truck. Since this looks legit to an outsider, customers may hand over their shipments for moving. However, this shipment then gets stolen, making one’s company look responsible for the loss. To avoid this, provide customers with proper bill details and a toll-free number so customers can verify the company’s identity. Double brokering Many companies also engage in double brokering, where goods are transferred from one freight carrier to cheaper options without any authorization. This increases the risk of losses, thefts, and delays. Companies must always be notified in case of such transfers and receive formal documentation to maintain transparent transactions.

Getting a loan is a complicated process, and with a bad credit score, the process becomes even more stressful. However, there are some ways to get a loan despite a bad credit score. There are some tips one can follow to improve one’s chances of approval or reach out to some online lenders who offer loans to people with bad credit scores. That said, here are three ways individuals with bad credit scores can obtain money. 1. Add a co-signer In some cases, having a co-signer with a better credit score can be beneficial to obtaining a loan. This means that they take equal responsibility for paying the loan back, which makes it easy to get a loan even with a bad score, as together, one’s credit score improves. It is always advised to make a repayment plan with the co-signer beforehand and ensure clear communication with this agreement. 2. Check with community credit unions Before heading to other financial institutes to check for loans on bad credit scores, one must first approach known community credit and bank unions. If the bank knows a person and their spending habits, they may offer better loan terms than other lenders despite the low credit score.

Annuities are a popular investment option that helps one get a steady stream of income during retirement. It is essentially a contract with an insurer in which one pays premiums and, in return, gets a guaranteed stream of payments in retirement. There are several annuity options, and choosing the right one can help one meet their long-term financial goals with ease. Also, one should avoid the following common mistakes associated with annuities: 1. Overlooking future tax implications Annuities are not taxed during the accumulation period. However, these benefits are only available until one withdraws money from their annuity plans. So later, the retirement income earned in the form of annuities will be taxed. This can be an additional monetary burden at the time. To avoid this issue, one must not let all their retirement income be taxable. They must set aside certain percentages of their income and direct them to non-tax deferred retirement investment options. 2. Investing too much While an annuity is a good investment option for retirement, it also tends to be rigid and difficult to get out of after a certain point. One can even end up paying penalties for several years after purchase if they miss a payment or two in the interim.

Choosing a life insurance policy can be a slightly different experience for seniors because there are more risks involved. Age and health play a significant role in determining premiums; sometimes, these can be high. Choosing the best life insurance policy for seniors doesn’t have to be a harrowing task or one that puts a strain on the finances. Check out some best practices to make the right choice. 1. Assess needs and budget Buying life insurance shouldn’t be a hasty decision, and one should assess all factors before picking one. Budget and needs should be the first consideration. Evaluate all outstanding debts, future payments, and one’s current financial situation before choosing life insurance. One can factor in funeral costs, medical bills, and help for surviving spouses or dependents before determining the coverage amount and policy type. 2. Understand the types of life insurance There are a few types of life insurance that seniors can choose from, and some of them are as follows: Term Life Insurance This type of life insurance provides coverage to the buyer for a specific period. If the insured passes away during the term, beneficiaries receive the death benefit. While term life insurance is typically more affordable, for seniors, it could be the reverse.

In recent years, buy now, pay later (BNPL) apps have become increasingly popular. These apps are convenient for users because they allow them to divide their purchases into equal, small payments. At times, with no interest and late fees. Users can find small and long-term financing options for various purchases. Some apps also feature loyalty programs that can be coupled with rewards, in-app purchases, and discounts to help save on purchases. Here are 5 apps one can check out: Affirm Available on both Apple and Android, Affirm is one of the most reliable BNPL apps for phones. Users can access various financing options covering a wide range of purchases. The app offers simple payment options for both small as well as big purchases. When buying via Affirm, users also get an idea about their monthly payable amount against the purchase. With its allowance for high-ticket items, Affirm is equivalent to loans that can be repaid within a set period. The platform integrates with numerous e-commerce platforms and usually has a no-late fee clause. PayPal PayPal is a popular payment gateway available globally. It has recently entered the short-term repayments market. The Pay in 4 by PayPal is a service available to the citizens of the country that distributes their purchases into 4 equal repayment amounts.