(NC) If someone were to look at your bank statement, what would they learn about you? Do you eat out often? What about emotional spending or group purchases? Taking a closer look at your spending habits can be eye-opening, and it can also help you rethink your purchasing priorities. Here’s how to decode what your bank statement signifies:
What your priorities are. If most of your monthly expenses go to organic groceries, then you likely value healthy eating. If what matters most to you is going out with friends, then your bank statement will reflect that. Make sure you are spending your money on what’s important to you.
How you value things. As a consumer, you always have the choice to put something back on the shelf because you feel it’s not worth the price. But when you buy something, you are basically dictating its worth. Looking back at your bank statement, was everything you purchased worth what you spent?
How you’re feeling. Did you resort to retail therapy last month? In moderation, emotional spending can be healing. But be careful as these expenses can add up. Try leaving your credit card at home and consider using your debit card instead. By using the money you already have, it’s easier to track your spending in real time.
How organized you are. Do you hate the hassle of withdrawing cash or writing a cheque? Do you prefer to pay for rent or split a group gift purchase through your online banking? Interac e-Transfer is a safe, efficient payment solution and is a great option for keeping track of your expenses. Additional features rolling out soon, like Request Money and Autodeposit, will make your life even easier.
Learn more at www.interac.ca.