Last Updated on Feb 18, 2020 by James W

Internet is undoubtedly the handiest means of socialization as well as running a business. From managing your personal finance to ordering a burger, everything is now possible with Internet. It has many advantages, but it has some disadvantages too. It’s very simple with Internet to go off the track even after having a well-structured financial plan. It creates a buying temptation that only a very few people can ignore.

How Internet ruins your personal finance

Here is a comprehensive discussion on how Internet can ruin your personal finance and eat up your savings.

  • Phishing scams

As a regular Internet user, you probably have heard about phishing scams. When making a money transaction through PayPal, people often get logged off from their account and instructed to log back on. This is a common problem that many internet users face. The problem becomes worse when the user is levied with several charges on his account that he actually didn’t make. Since the PayPal account is directly connected to one’s debit account, the charges are instantly deducted from his card. If you’re a victim of such a scam, immediately intimate PayPal and your bank to initiate taking needful actions, so that you can get your money back. Fortunately, taking necessary action helps the users to get back their fund, in most cases. To get rid of such scams you should link your PayPal account with your credit card in order that you can dispute the false charges with the credit card company if such an incident occurs. It is easier to dispute discrepancies with your creditor than a bank.

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  • Online transaction

Online transaction is good as it saves your time, but at the same time it can add stress to your personal finance. It is true that through online billing you can transfer your funds automatically to pay your bills without putting much effort and spending much time. It is an easy way to handle your monthly utility as well as credit card bills. However, the problem occurs when the withdrawn amount differs from one month to another. Therefore, you should always check your account balance after an automated transfer is done. Otherwise, you’re very likely to find your bank account to be overdrawn with unreasonable fees and interests.

  • Temptation

Internet is full of attractive advertisements. Wherever you see, you can find ads. If you’re not cautious, you can be the victim of temptation and waste your money at online stores. Be extremely vigilant and try to avoid this type of temptation. Use Internet as a buying platform for the stuff you really need. Don’t be the prey of impulsive buying as it can severely affect your personal finance and your financial goal as well.

  • Impulse spending

Impulse spending is another form of temptation. When your Facebook friend tells you about an online sale or a new online fashion store, you can hardly control yourself from visiting that particular website and shopping there. So don’t go by such impulses if you want to meet your financial goal. If you need to buy anything online, just place your order and pay shipping charges. You will get your item delivered to your doorstep usually within a week.

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Internet is a very easy way of shopping. However, while shopping online make sure you don’t forget about your budget and keep a keen eye on online billing procedures.

Author’s Bio – Jonny Pean is a renowned finance advisor at His finance-related writings can be found throughout the Internet.


Founder and chief editor of Blogger, Affiliate Marketer, Tech and SEO geek. Started this blog in 2011 to help others learn how to work from home, make money online or anything related to business and finances. You can contact me at