Bank Better, Live Better

learn from your bank statement

Spend some time looking over your bank statement for any bank better, live better areas to improve.

Your bank statement can tell you a lot about your banking behaviour and how you manage your money. Here’s what you can learn from yours.

You’re spending more than you earn

Do you withdraw from your credit facility quite regularly? Are you living in overdraft? If you are, you have a budget shortfall.

What is a budget shortfall? Put simply, you have a budget shortfall when your expenses are more than your income.

Tip: Do more with your money.  Manage your budget shortfall in 12 steps.

You need to break some bad money habits

Your bank statement also shows you what you’re spending your money on. Are you eating out and going to the movies too often? Spending too much on iTunes? Cutting your unnecessary expenses can add up to big savings over time.

Tip: Bank on the go. Get our cellphone app and use the budget tool to plan how you’ll spend your money. 

You’re not paying the best bank fees

Are you paying the best bank fees on ATM withdrawals, balance enquiries, cash deposits and debit card purchases? You may not pay much attention to your fees, but over a lifetime the costs could add up to an overseas holiday for you and family.

Tip: Know what you get, know what you pay. Make sure you pay the best bank fees.

You’re using more expensive ways to bank

Using cash is more expensive. Instead of drawing cash to pay for things, use your Global One cardcellphone app or the Internet. The costs are much lower than using cash and you save time.

You’re not saving enough or getting the best interest

Prevent irregular and unforeseen expenses from ruining you financially. If you don’t have enough savings to protect you, you may end up taking credit you can’t afford to get you out of trouble.

If you are saving regularly but your money isn't growing as much as you thought,  switch your account in 3 easy steps and benefit from our competitive interest rates.

Tip: Reach your savings goal. Open an account today and earn from 4.75% from the first R1. Use it to build your emergency fund. Remember to plan for irregular expenses too.

Keep track of debit orders

Knowing which debit orders go off from your account helps you keep track of your money. It also helps you pick up any possible fraudulent activity on your account such as unauthorised debit orders.

Tip: Stay informed and keep your credit profile safe. Sign up for transaction notifications on the go.

Was this article helpful?

you may also like...

View All Other Articles View All
our 2020 fees

our 2020 fees

We update our bank fees on 1 March every year. Last year, we helped our clients save over R200 million by lowering our digital banking fees. For the second year in a row, we will not be increasing these fees in 2020.

Read More
the reason south africans move to capitec

the reason south africans move to capitec

A recent global survey of banking customers found that value for money is the number-one priority for South Africans when choosing a bank.

Read More
here’s what banking better in 2018 means for you

here’s what banking better in 2018 means for you

Switch your salary and debit orders, bank on our app, and become a part of the movement to bank and live better in 2018.

Read More
nicolette mashile’s secret to enjoying date night on a budget – while keeping the romance alive

nicolette mashile’s secret to enjoying date night on a budget – while keeping the romance alive

Entrepreneur and media personality Nicolette Mashile, also known as the Financial Fitness Bunny, is passionate about levelling the playing field when it comes to financial literacy – particularly where it applies to relationships. Here’s her secret to enjoying romantic dates while staying within a budget.

Read More
View All Other Articles