2) Over-reliance on Plastic Money –

People feel that credit cards have no limits when it comes to shopping. However, one should never have such a thought in mind. Using credit cards only adds to one’s financial burdens as the bank giving credit charges interest on it. So, it is better to use debit cards most of the time as the account holder cannot draw more money he/she has in the account. However, practice of using plastic money is a great evil as people hate carrying extra cash and love the freedom that comes with cards. Still, this habit needs to be reduced because one needs to return all the things bought if the credit card bill is not paid.

3) Unbalanced Account Books –

Balancing account books is a trick job. Not everyone is able to do it with finesse. If the old paper and pen system is not cool enough for you, then purchase related software from the internet. Balancing account books is not a fun task but is an exceedingly important one. Slip of just one entry can spell major mishap while filing income tax returns. So, in order to avoid this disaster, one should keep one’s account books updated.