A no-fee prepaid debit card is a type of debit card that provides more advantages than the typical prepaid debit card. The key benefit of this card is that users can load and use their money without paying any fees. Additionally, these cards also help limit one’s spending, thus preventing any potential financial crisis. However, one downside to this card is that some stores and service centers may not accept it. Features of no-fee prepaid debit cards Prepaid debit cards provide users with exclusive access to credit. People owning these cards can repay this used credit within a stipulated amount of time. The workings of a prepaid debit card differ slightly from that of a standard debit card. A normal debit card is used to withdraw money from one’s savings account. On the other hand, prepaid debit cards allow users to load money into their cards through several monetary avenues. Unlike a regular debit card, a prepaid card is not linked with its user’s savings bank account. In that sense, this card functions a lot similar to credit cards issued by banks. Additionally, prepaid debit cards come with several added fees, such as an activation fee, a card loading fee, a monthly fee, a fee for withdrawal from out-of-network ATMs, and a general withdrawal fee.

As many parts of the world are steadily moving toward a cashless economy, debit cards are becoming highly popular and accepted modes of payment. These cards can be used for shopping at all major retail stores and withdrawing money instantly. Also, most debit cards offer lucrative benefits, such as rewards, cashback, and no annual fees. But to get the most out of debit cards, it is important to avoid certain mistakes. 1. Using too many debit cards As different banks offer different deals and benefits on debit cards, many tend to use multiple cards to benefit from a variety of offers. But such deals and offers come with additional fees, so, the more cards one has, the higher the aggregate fee one would have to pay. These extra charges can increase the expenses. So, it’s best to have a maximum of three cards to avoid spending too much money on fees. 2. Using debit cards for big purchases A debit card uses the funds deposited in the cardholder’s bank account. So, if one tries to pay an amount that exceeds the total balance in the account, the transaction may bounce. For this reason, it’s best to use a credit card for large transactions so that one can repay the amount flexibly until the deadline.

Gift cards can be used to pay for several products and services across multiple platforms. Corporate gift cards, holiday cards, and even cash back cards are the most popular formats to redeem online or at kiosks. However, the process of redeeming them is anything but simple. And if not done correctly, you may miss out on many discounts and exclusive offers. Here are five common gift card mistakes to avoid while shopping. Buying from auction websites Gift cards can be used for several retail purposes. But never buy cards that are auctioned off from websites like eBay. You cannot verify the authenticity of these cards being sold online. Moreover, scammers can skim and track the magnetic data on such cards before they are auctioned off. Once you activate the card, scammers can also use it to avail of all the inclusive benefits. So it’s best to avoid buying from such auction websites. Consider only reputable retail and eCommerce stores that offer such redemption options. Keeping cards unused You might often end up receiving gift cards of no specific use. For example, somebody might gift you a $500 card that can only be redeemed for auto spares and accessories. Here, the best thing to do is exchange it on platforms where consumers can buy and sell gift cards.

Credit cards are easy to use and super convenient when used properly. But, these cards can also be devastating to your financial health and can have a negative impact on your credit score if you use them wrong. Poor or irresponsible credit card usage can lead to debt, which can affect your long-term financial stability. Read on to learn about which credit card habit of yours might be doing more harm than good. Not paying your credit bill in full One of the most common credit card habits that will hurt you, in the long run, is not paying your credit card bills in full. Paying only the minimum due or only part of your bill does not really allow you to make any progress on paying off your balance. In fact, in such cases, you are more likely to end up paying more interest. Plus, you are also damaging your credit score and raising your credit utilization. It is a good practice to only spend how much you need and pay off all of it at once. Not checking your statement often Not checking your credit card statement can also lead to trouble. There could be a chance that you forgot about some expenses.

Tax return filing is a strenuous process for many people. Although preparing tax returns may feel unpleasant, it is crucial to avoid making mistakes. While mistakes may not necessarily involve an audit from the Internal Revenue Service (IRS), they may invite additional penalties or smaller refunds. Due to these factors, it is imperative to be aware of the common errors people make when filing their tax returns and ensure to avoid them. Not following the latest tax news Changes in tax laws may impact how you file your returns. Therefore, it is essential to keep up with the news. You should know which tax return you are filing and have access to the most current information about the same. For instance, people over 65 qualify to file for Form 1040-SR, while non-resident aliens who earned their income through work efforts in the country during the tax year must file Form 1040-NR. Tax preparation software can help you choose the correct form. Being unaware of your filing status Knowing your tax filing status can help you save time and money. For instance, filing as the head of the household (someone who has a dependent and pays for over 50% of all household expenses) offers more favorable tax rates than filing as a single taxpayer.

In recent years, there has been a rise in online financial fraud incidents. Scammers and fraudsters use fake websites, emails, text messages, and phone calls to steal people’s personal data, including bank accounts and social security numbers. They employ various methods to deceive individuals into giving away their valuable private information, all with the intention of stealing their hard-earned money. To prevent financial fraud, here are some mistakes you should avoid. Don’t fall for claims that say you have won a prize One common method scammers use to obtain private information is by posing as representatives of popular brands or organizations. They may claim that you have won a lottery or that someone entered you into sweepstakes and you have won a large sum of money. But to receive this money, you will have to pay a fee. Under this pretext, they might steal your bank account information and siphon off all your savings. Do not fall for calls from scammers pretending to be from an organization you know Often fraudsters pretend to be representatives of the government. They use real names of federal agencies such as the Social Security Administration, Medicare, or the IRS. Some even make up names that sound official.

Planning for the future is a long-term process that needs to address multiple factors. The ideal financial planning could help you and your family live stress-free after retirement and in the moment. However, as finances could involve various factors like market conditions, family situations, earning capacity, and mental framework, it is possible to make mistakes. So if you are considering safeguarding yourself and your family financially, here are six planning mistakes you should avoid. Procrastinating the plan Planning isn’t the most exciting topic, and several people even shy away from discussing it. Some common reasons that most people avoid planning are because they have just started earning, do not have much money, or believe they have a plan in their head. However, this could significantly hamper saving in the long run. Therefore, it is imperative to start planning earlier so that you are better able to estimate expenditures and savings. Mixing insurance and investment Investments help earn income, while paying insurance helps with risk management. But many consider the latter a part of their investments. You should note that while an insurance plan could help financially support you and the family during emergencies, it will not add to your wealth.

Buy now, pay later (BNPL) apps help save money. People often use these apps to buy expensive products while paying for them later in smaller installments. Since there are many BNPL apps out there, finding one is easy. However, individuals must pick the right option for the best benefits in the long term. Those who find it hard to decide can consider these five most popular apps to save money. Affirm With numerous BNPL plans, Affirm is a top choice among those looking to save big. Its standard pay-in-four plan with zero interest is particularly popular among shoppers. Aside from this, monthly plans such as three-, six-, 12-, and 60-month repayment plans are also available. All of these have interest rates ranging from 0% to 36% APR. Besides, the app has partnerships with some of the most significant online and offline retailers, which makes it more attractive to consumers. The best part is that one does not have to pay fees to use Affirm! Sezzle Sezzle is great for those looking for BNPL apps that offer flexible payment plans. It lets customers push payments and get two extra weeks to pay back. Moreover, the first reschedule for every order costs practically $0.

Online trading is one of the easiest way s to invest money.  People can make a lot of quick money in the stock market if they invest in certain stocks at the right time and sell their shares at the right time. Those  who are new to stock trading and online stock trading can use a few tried-and-tested tips to increase their income through the stock market. Tips for beginners 1. Selecting the right online broker As anyone with experience investing in the traditional stock market will attest, the broker plays a key role in the buying and selling process of shares.  This is why beginner investors must choose an online broker with all the support and tools to match their needs and help them quickly get their money in or out of the stock market without taking out a large commission. Essentially, beginner traders must choose brokers prioritizing customer support, trade minimums, educational resources, and account management. Online broker platforms, where everything is streamlined, easy to navigate, and has the scope of teaching novice traders something new, can be invaluable for beginners. In the digital age, brokers may no longer be people but instead apps. Choosing between these trading apps must be done based on their experience, reputation, credibility with clients, and a sense that they will always keep things transparent and communicative for beginner traders.

While many individuals grow up understanding the importance of savings in financial security, unplanned emergencies can arise, leaving them in need of urgent funds. When facing situations like home repairs or health emergencies, cash loans emerge as a convenient solution. But before one signs any agreement related to cash loans, it is important to learn about the borrowing process and its associated factors in detail to make informed decisions regarding one’s financial security. Determine how much is needed One of the most common mistakes people make is borrowing more than they require. For instance, if one only needs $5000, they take $10,000 as a cash loan only because it’s available. While this could help have additional funds at the ready, one should remember that the more they take out, the higher the interest rate on the loan. So, it is advised to take only the amount one needs. Take time with research It is easy to rush into taking a cash loan during an emergency. But to get the best offer, one must always take and do the necessary research. The first option on the internet may or may not be the best choice. The person taking the cash loan must thoroughly consider various lenders and narrow the options before making a final decision.