7 Terrible Money Practices That Can Drain Your Money

BANGALORE: Imagine a life without banks? Can you even imagine it? No, I don’t think anyone can, because bank is the only place where you can put your money safely.  Yes, indeed! Banks have made our life convenient but they can also bring havoc by levying penalties. However, all the banks have strict regulations in order to protect their own interest as well as of customers. If any of the customers try to break any of the regulations they are levied a penalty which can be an expensive thing.

Let’s have a look at some of the worst money managing habits that can cost you more:

1. Not checking balance regularly: It’s always better to keep a check on your balance regularly. There are several ways to check your balance like online banking, cash points, over the counter, on your statement and over the phone. Sometimes you may find that your balance won’t be as up-to-date as you would like as money may still be needed to be debited from your account. For example even if you use your debit card, it can sometimes take a couple of days for that transaction to get registered. You can always request your bank to provide you with an update of your balance if you forget to check on that. Some banks offer SMS balance updates as an additional feature.