7 Common Mistakes to Avoid When Handling Cash in India

Cash plays an important role in the transactions of our day-to-day life. However, now most of the transactions are done digitally. But some people still prefer to use the traditional method. There is nothing wrong with the traditional method because people are not that digitally active yet. But so that you have to be active in handling cash, we have given some tips in the article so that even if you want to use the traditional method, you will not face any problems. And can use the money to Grab cheap flight tickets to India from USA from flyopedia.com.

Let us know what are those 7 common mistakes which you should avoid if you are carrying a large amount of cash.

1. Neglecting Cash Counting

People often make this mistake of counting their cash in a hurry, as a result, some fraudsters try to include fake cash in the real cash and when you later go to exchange it, you get caught. And after that you realize that fraud has happened to you.

Solution:-You should try to check your cash carefully, and identify fake notes as per RBI guidelines.

2. Improper Cash Storing

Cash storing is also a big mistake which most people make. Either you put cash in your pocket quickly or you travel without any wallet. Your cash tears or falls out of your pocket whenever you take out your mobile or some other things from your pocket.

Solution:- Try to use a wallet or a separate storage for money.

3. Ignoring Financial Records

Many people are dealing with financial mismanagement, such that they have difficulty tracking their income or face other tax issues.

Solution:- You have to create a detailed track record of your cash. Not only for big transactions but also for small transactions. You can also use digital tools or apps which will help you track your cash flow. And by managing your money you can save some extra money on the best business class flights to India from USA.

4. Become Greedy For Money

In the greed of too much free money or more money, many individuals take the wrong step due to which he/she has to face money losses.

Solution:-Try to stay away from people that offer you more money or free money. And try to avoid exchanging your cash with a stranger and choose an authorized cash exchange counter.

5. Not Using ATM properly

You may have also made these mistakes, while using the ATM, such as sharing your PIN with someone whom you don’t know or doing transactions in front of someone.

The biggest mistake you can make is giving your ATM into some stranger’s hands. There might be the chance that You may lose all your cash.

6. Don’t make cash deposits quickly when you get them.

Many people have the habit that when they get cash in their hands, they either avoid depositing it in the bank or make late deposits. Keeping too much cash close to you means inviting theft.

Solution:-Avoid cash at home or keep your pass and as soon as possible go to your bank and deposit it.

7. Carrying large Amount of Cash

Sometimes you may need more cash, but this does not mean that you keep large cash amounts in your hand every day. Large amounts of cash means large risks.

Solution:-The solution is to shift to digital transaction methods. But if not, you should be active in handling cash and follow the solution written above. Additionally when you return Book cheap air tickets to India from USA next time to save some extra cent.

By following these guidelines, you can significantly reduce the risks associated with handling cash in India.

Also Read: Cash From India to the USA – Everything You Need to Know