Internet has been a boon in many ways. It has revolutionized the way people live, think, and work. However it also has a downside to it which is taking a toll on the people of UK. Internet spending or easy spending options that come with it have the capability of throwing your monthly budgets out of the window. If one doesn’t keep a check on himself then managing finances become difficult.
Impulsive online buying
The Internet has helped temptations come into your house in any state of the country, rather than you going to look for it. As most people spend a considerable amount of time on the internet, they are constantly exposed to the inviting banners and emails offering the most tempting deals. It is easy to be carried away and spend inadvertently all your money on these superficial sales.
What’s more, buying it is just a few clicks away and that too from the comforts of your home. No more driving from Liverpool to Hampshire and waiting at the check-out counters. The pro’s suddenly seem so overwhelming that going on a shopping spree is just as easily possible as in a supermarket, but without a vigilant outlook your long term financial goals can easily be in jeopardy.
Phishing scams are the most recurring reason for destroying the financial budgets of people in the UK. They seamlessly spend enormous amounts on shopping online through their credit cards without even being alert when exchanging financial details. This makes them fall under credit card debt and the trouble to get out of it is huge. Recently such a case happened in Manchester where the scammer rejoiced with the customer’s hard earned money and the victim had become suicidal because of a huge financial loss.
Anybody asking for your bank details need to be screened well. An innocent mail that is urgent in tone or is offering a great deal is mostly a phishing mail. If you feel you have been attacked, immediately alert your bank. As much as possible make payments via credit card on the internet applicable inside UK. This will ensure that even if you are attacked your finances are safe.
Paying bills online
Online bill payment is more of a convenience than a need. It is a boon for the fast paced life at the UK. It is a great option, however once the online bill payment option is selected, you have to ensure that the necessary funds are available in the bank at all times, as you wouldn’t know exactly when the payment request would be made. The UK government charges some fines if the payment is not made during that attempt of online transferring.
Apart from this if there are any discrepancies in the bill that you want to be settled before you make the payment, you do not have that liberty. You will have to go through a long process of cancelling the online payment option and then following up again once the matter is solved to invoke it. This will eventually be waste of time and money. So better catch up one of the banks and get yourself an account this will also help save some finances when you spend much on the internet.