8 mistakes to avoid while using debit cards

8 mistakes to avoid while using debit cards
Debit cards are handy payment cards, especially for those who do not want all their transactions to involve credit cards or other pay-later options. Debit cards also help in sticking to a budget and eliminating the burden of credit card bills and the associated delayed bill payments. However, certain missteps in using these payment cards can dampen the experience and lead to financial issues. So, here are common mistakes to avoid while using debit cards: 1. Using out-of-network ATMs Debit cards can be used in two ways: making direct payments or using cash withdrawn from the ATMs. Both of these modes of payment are easy options.

10 buy now, pay later mistakes to avoid

10 buy now, pay later mistakes to avoid
With the digitization of payments, buyers no longer have to pay immediately from their bank accounts. Several online payment options allow one to buy and pay for a product flexibly. The “buy now, pay later” option is one such feature. Here, consumers can pay for a purchase later without any interest charged. Loan approval for BNPL is also quicker. But there are some mistakes one should avoid while availing of this option: 1. Buying expensive products With “buy now, pay later,” it is easy to get carried away and buy expensive products that one cannot normally afford. For example, high-end laptops or electronic items may cost over $1,000.

6 common payroll errors and how to avoid them

6 common payroll errors and how to avoid them
The payroll process is often considered high risk for any business, especially if the right tools and resources are not used. Besides, businesses must comply with tax regulations and laws, which can further complicate the payroll process. Thus, errors may sometimes creep in. However, this can be distressing for employees and expensive for the business. To steer clear of these problems, it helps to learn about the common payroll errors and how to avoid them. Wrong classification of employees This payroll blunder has been committed by small as well as large businesses. Sometimes, they end up misclassifying an employee, leading to major errors in their payroll.

Identifying the best index funds to invest in

Identifying the best index funds to invest in
The importance of a varied investment portfolio is well-known. Not only does it help maximize profits, but it also keeps one’s assets safer. In addition to equities, hedge funds, and stocks, many people today also invest in index funds. These are a group of stocks that mimic the appearance of an existing market index and offer simple returns. Read on to learn more about index funds, how they work, and how to identify the best ones. What are Index funds? Index funds are made up of the same investments as the index tracked. Since their performance is similar to that of the index, they generally require no hands-on management.

7 most overlooked tax deductions that could help save money

7 most overlooked tax deductions that could help save money
Most individuals file taxes depending on how much money they make during the fiscal year. However, since the process is long and complex, it sometimes results in costly errors. A common mistake is overlooking tax deductions or, more simply, the expenses people can subtract from their taxable income. Understanding which expenses one can claim as deductions helps save significant money. Here are the seven most overlooked tax deductions individuals should know. Charitable contributions One of the most overlooked tax deductions is the charitable contributions made throughout the year. It could include property, cash, or any other monetary donation to charity.

7 mistakes to avoid with a 401(k) plan

7 mistakes to avoid with a 401(k) plan
Investing in a 401(k) plan is a common way to save for retirement. It involves depositing a portion of the salary every month in a 401(k) account. However, to get the most out of 401(k), one needs to follow the right steps, which may not always be clear without prior research. So, one may end up making mistakes with their 401(k) plan that can leave them with not enough funds. 1. Ignoring the types of 401(k) account In general, one has two options to consider—a traditional 401(k) and a Roth 401(k). There are significant differences between the two. For instance, with a traditional 401(k), the contributions are made before the tax is imposed.