Advantages of Internet Banking Without Traditional Banking

Internet banking is a key tool in an era that no longer leave home without your mobile and do not understand life without talking everything on the Internet. How would your finances be the exception?

Online banks are the ones that most risker on this service, investing in platforms with high usability, with greater functionalities and increasing the possibilities of easily contracting everything online.

Top 10 Advantages of Internet Banking

Online services are revolutionizing the way citizens manage their finances. Internet banking has also managed to change the model of relationships between banks and customers.

Internet Banking

For both reasons, in addition to saving time and money, more and more are joining the change. We analyze some of the most striking advantages:

1. Commitment to Innovation and Progress

In the era of digital culture, Big Data, the Internet of Things and Artificial Intelligence, new banks have taken the lead on their competition.

Applying the most innovative technologies optimizes the operation of the web and mobile app with which digital banking is controlled.

Connections are also strengthened, new forms of payments are enabled through the smartphone and everything is automated to get the customer in control without wasting time.

2. Goodbye to Waiting

Internet banking is available 24 hours/7 days a week. Have you ever stayed at the gates of ordering an operation because your work hours were incompatible with that of your office? That ended.

In addition, it goes further by adding Artificial Intelligence assistants in your electronic banking to solve your doubts and even get ahead of what you need.

3. Save on Costs and Commissions

Internet banking is more transparent. By fulfilling certain conditions that are generally very easy to meet, you can improve the usual cost of services, and even pay zero commissions.

4. Take Advantage of the Facilities of Internet Banking

Beyond reduced or no fees and other financial circumstances, transfers are usually free if a series of very simple requirements are met. The handling is simple, so the time saved is also a money saver.

5. Know Everything in Detail: Transparency Ahead

Dealing with the client of native Internet banking has changed. The consumer-first thesis is present in everything.

The information is released on the minute and in real-time, but you can also access everything in writing, for easy analysis.

The contracting of banking products through the network makes the client know in detail what the conditions are, since the entities publish them with full transparency.

6. Operate in Complete Safety

Today, Misusage techniques have advanced substantially. In order to prevent the Unusual use of online bank accounts, complex encryption systems, virtual keyboards, coordinate cards, tokens, electronic identifications and unique keys sent through SMS are used.

Internet banking is safe. For this reason, many users have left behind their prejudices and joined the trend.

7. Thoroughly Control Your Movements

Thanks to the most sophisticated online means, it is possible to improve personal finances. Some banks allow access to intuitive charts that show the evolution of balances, pending settlements and others.

There are also those that include advanced systems that anticipate calculating spending averages and notifying receipts to have everything under control. Fintech is here to stay in Internet banking.

8. Guide Yourself in the Most Revolutionary Way

Given the lack of physical offices and the preference for electronic media, online banks are risking on machine learning for virtual assistants to establish interactions between technology and customers.

Some already have digital assistants that are operational on all media. Both in the latest range phones and in the new generations of smart speakers (those that use Google Assistant, Skype or Facebook Messenger).

9. Forget about Commuting

You will no longer have to go to any branch to close operations, request loans or make use of the box. That belongs to the past.

Save time in your life with online banking by making all inquiries (and ordering operations) from the comfort of your phone. Even if you are abroad!

10. Enjoy All the Facilities for Your Savings

Saving money is a priority, but it is not always easy to understand how much you can get without any risk.

Calculating the sum of everything you don’t pay in commissions and the profitability of savings accounts is a little bit easier with estimated savings calculators like this.

You just have to personalize your income and expenses and you will have the detailed information of the extra annual money that you can count on risking on transparent alternatives.

Customer Loyalty – Easily Beat the Competition in your Business

Achieving Customer Loyalty today is like a card up your sleeve for any company to get ahead of the competition.

The market is increasingly competitive and, therefore, it is necessary that you carry out a set of actions that will aim to achieve the loyalty of your customers.

That way, your customers will buy more, more often, and are even more likely to resist competing offers.

See an illustration of how the need for loyalty is present in our day-to-day.

What is Customer Loyalty?

Loyalty is making your product, service and customer service so special that when your customer needs them again, they won’t think twice about closing a deal with you.

Loyal customers buy your products or services without thinking so much about the price as they take into account the quality already known, the memory of a previous shopping experience that exceeded their expectations and a great after-sale.

Shall we take the test?

Think of yourself! Do you prefer to buy a product that you have known and used for a long time, has a satisfactory quality and meets your expectations, or do you always go in search of new products or services to meet that same need?

Customer Loyalty

When you choose to always do new tests, you run the risk that, in the end, you spent more money and did not find a service as satisfactory as you imagined, right?

Thus, it is possible to realize how important it is to think about customer loyalty and retention strategies to ensure the survival of your company within this highly competitive market in which we operate.

Through customer loyalty, you create affinity and build a healthy and lasting relationship with consumers who already know your brand.

This process becomes easier and more profitable than acquiring new customers simply because you have already passed the barrier of acquiring customer trust.

” It is five times cheaper to keep the customers we  already have than to go looking for new ones “

How Customer Loyalty Works

The main objective of customer loyalty is the continuous increase in sales and this will only be achieved if you are able to retain the customers you have already conquered and acquired new ones frequently without high costs.

We can clearly see this situation happening when we observe the relationship in which customers have with some more famous brands. For example, Apple, which is one of the biggest references when it comes to customer loyalty.

Do you know any customers dissatisfied with Apple? Difficult right?

Typically, a person who uses Apple products fully defends the brand and always finds some argument to justify the high price of their products.

These customers are loyal to her and, after the first contact, they hardly change brands in the next purchase.

It’s even better!

They publicize the brand to friends and acquaintances, doing that famous word of mouth marketing that is the dream of every entrepreneur to achieve, as it is cheaper and more effective.

This is how loyalty works, whether in a large company like Apple or in a corner store if you exceed your customers’ expectations they will create a very strong relationship with your brand and will start to think more about quality and value you deliver than at the price you pay.

When you are able to add value to your products or services, your business naturally acquires an authority, and when you deliver quality, it generates customer satisfaction.  Consequently, you reach the loyalty and retention of its customers.

Advantages of Customer Loyalty

Negotiating Power with Suppliers

When you acquire loyal customers and your supplier recognizes this, he will do anything to close a deal with you. Because there will be a greater chance of his product being sold and consequently you will buy larger quantities from him.

Therefore, you can count on benefits such as better prices, terms and payment methods.

Referral of New Customers

As soon as you build customer loyalty, the next step is the referral. When your customer is satisfied, they tend to share their experiences with friends and family who are sure to buy from you too. This increases your customer base and virtually at zero cost.

Think about you!

When you need to buy something that is not in your routine, you always ask for a suggestion from someone you know, don’t you?

If someone had a good experience buying this product, they will certainly tell you and most likely you will close a deal with that company.

This is the famous word-of-mouth marketing, which allows us to achieve goals and provides continuous growth through organic results, that is, without the need for greater investments for this to happen.

Reduced Marketing Costs

When you define marketing strategies in order to attract customers, you immediately think of paid media such as radio, newspapers, pamphlets, etc., right?

Have you ever stopped to think about the cost of acquiring customers that reaches your company through these means? It’s quite a high cost, isn’t it?

Imagine then that you made a marketing investment of 10,000 reais in a radio advertisement for example.

In this campaign, suppose that you were able to acquire 200 customers and consequently your acquisition cost was 50 reais per customer.

If your contact with that customer ends with that first purchase, for the investment to be worthwhile, your customer would have to make a purchase above 50 reais, which can be a problem if your average ticket is very low.

With that same investment in mind, if you keep in touch with the customer, he will return more often and still be able to refer new customers without having to spend more to do so.

Imagine that each customer you acquired through advertising is very satisfied with your company and brings you 2 more customers per referral. In that case, your purchase cost would already drop to approximately 17 reais per customer.

Besides, when the customer is satisfied and is reminded of his company, he always comes back for a new purchase. In this way, you further enhance the gains over the initial investment.

Above Market Prices

Remember when we talked about Apple products? What customers are not bothered by the amount they will pay because they trust the brand?

So, when there is loyalty, price should not be the main competitive factor of the product. And people, even if unconsciously, tend to overvalue the brand, placing it above any other competitor.

In this case, the company may charge prices above the market as this will not interfere with its sales. And so, the profit margin will be greater than that of competitors.

What Results Do You Expect From a Loyalty Program?

We have already talked about some advantages that customer loyalty can provide for your business. But now, to organize the ideas, we will then point out all the positive results that you can reap when investing in loyalty.

Reduced Customer Acquisition Costs

With customer loyalty, it is no longer necessary to invest so much in advertising through traditional means of communication such as radio, TV and banners. When organic reach is achieved, attracting customers becomes much cheaper and more efficient.

Increased Profit Margin

As a result of cost savings, your business becomes more profitable and your profit margin increases significantly. With customer loyalty, your company acquires a constant source of income for many years, however, remember that this loyalty will only be maintained if the expectations of customers continue to be met over time.


Through good communication, relationships and offering advantages to retain customers, you earn their trust and make them return more often to buy. And this occurs naturally, without that annoying situation of having to arrest a customer for a contract, for example.

Average ticket increase

As the loyal customer becomes less sensitive to price, you are able to increase the value spent per customer as a result of the possibility of increasing the price of your products.

Consequently, it also increases your company’s revenue!

You will be able to get out of this fight for prices which creates a headache for so many entrepreneurs.

Good Reputation on Social Media

I have already shown you how much more profitable word of mouth advertising is for your business and, one of the ways in which this occurs is through social media.

Nowadays, comments made in online environments are sometimes decisive factors when the customer is choosing where to buy.

With customer loyalty, consumers of your brand will be closer and more likely to make good comments about your business on platforms such as Google, Facebook, Instagram, TripAdvisor, etc.

Increased Frequency of Purchases

As soon as you notice all the previous results happening, it’s time to re-evaluate your customers’ purchase frequency. They are certainly buying more often and in shorter time intervals.

When you implement a firm and regular customer relationship policy, your customer will always remember your brand and be on top of all your offers, increasing the chances of them buying more often.

Types of Loyalty Programs


As the name implies, cashback is nothing more than cashback. When the consumer buys at an establishment that has the cashback, part of the money spent on the purchase returns to that customer.

Some programs allow the person to receive this money in his bank account, in others, the customer can only use this credit in the store where he bought it.

The higher the cashback, the more customers are attracted to the offer, but in this case, the company decreases its earnings. And the problem with this type of loyalty program is that the consumer is not very attached to the company, but to the value of the cashback.


It consists of a points program usually offered by airlines and credit cards. When registering for these programs, the customer accumulates points every time he uses the company’s services and these points are converted into prizes, new tickets, extra bonuses or prizes made available by the companies themselves.

Magnetic loyalty card

In this type of loyalty program, all customers receive a magnetic card in which the points referring to each purchase made by them will be registered. These points accumulate and can be exchanged for products.

The negative point here is that it depends on the customer always remembering to carry the card with them so as not to miss an opportunity to score and also has the possibility of losing it.

Stamp Card

Probably the best-known form of a loyalty program is the card with a stamp. It is an older and outdated form, but still widely used mainly in small companies.

This system is simple, every time the customer makes a purchase, his card is stamped and when he reaches a certain number of stamps, he can exchange the card for a product or service predetermined by the company.

Just like the magnetic card, the negative point is the possible loss of the card as the customer loses all his purchase history and needs to start filling a new card.

Loyalty software

The most modern and practical solution today is customer loyalty software. It is usually the solution that brings the best results because it has the possibility of creating a database that you can use for customer relationship strategies.

In practice, the customer performs his registration and informs his CPF when making the payment. This way, all purchases will be linked to your CPF and the system will count the score equivalent to the amount paid.

As this system requires a registration, you will have some valuable customer data, so you can maintain a relationship that will allow customer loyalty in the way we talked so far, with the entire relationship marketing strategy.

Online Payments – Safest Ways to Make Transactions

Nowadays, most of the transactions are Online Payments. E-commerce has grown a lot in recent times and is a sector that will continue to increase. The main reason is the rise of mobile devices and the Internet of Things and the possibilities they offer.

They allow us to surf the Internet almost from anywhere, with a wide variety of applications and services. This facilitates, among other things, the possibility of buying quickly and comfortably from anywhere.

Online Payments

However, this also causes us to exercise extreme caution. In this article, we are going to talk about the safest ways to make Online Payments.

Today there are a wide variety of platforms, pages and applications where you can buy. Sometimes we buy directly from companies and other times it is a transaction between individuals.

Either way, you always have to make online payments. This is where the risk maybe if we do not take precautions.

We will explain what are the safest methods to do online payments and also what mistakes to avoid.

Everything to always preserve our security and privacy and not put our information and devices at risk.

Safe Methods to Pay Online Payments

Use platforms like PayPal

Within the possibilities of online payments, PayPal is one of the safest and most reliable.

It is true that we can find the corrupt practices in PayPal. But, it is not something usual and with total security, we will have less probability than in other platforms.

The fact of using platforms such as PayPal allows us not to have to use our bank account or cards directly.

We can simply enter the money we need and then use it for online payments.

Bank Cards with Security

It is undoubtedly one of the most widely used payment methods today. It is true that many users see it with fear.

But, whenever we take the basic security measures, the use of bank cards to buy online is a good solution.

We have to observe that the payment gateway is secure and always have two-factor authentication configured.

In this way, whenever we pay online, we will receive a message on our mobile, for example, to verify that it really is us.

Rechargeable Cards

An alternative to traditional bank cards and an increasingly popular method. Maybe our own bank offers us this possibility.

We can also purchase prepaid cards that already come with a cheap amount.

Basically it consists of entering the money we need through another card or payment method.

In case of theft or some type of misleading, this rechargeable card and the economic amount that is in it will simply be affected, which will generally be the minimum to make the payment we need.

Transfers and Cash on Delivery

Although less and less used, bank transfer or cash on delivery are also reliable methods of paying online.

Logically, if we decide to make payment once we receive the product, generally to the company that distributes the package, we further increase the guarantees.

How to pay safely online

Secure Pages

Do the Payment safely, it is very important that we browse reliable pages.

Unfortunately, fraudulent sites abound on the Internet, which can put our security and privacy at risk.

You must always enter official sites and never access them from third-party links.

A good sign that a page is reliable is the fact that it is encrypted and uses the HTTPS protocol. In this way, our data travels safely.

Reliable networks

It is also very important to browse secure networks. It is very Risky. For example, connecting to an open Wi-Fi network and making Online payments is very dangerous.

We don’t really know who may be behind that network and how it could compromise our security.

Customer Service – Importance, Principles and Things to Do

Much is said about providing Good Customer Service, but … How to do this in practice? What do you need to know in order to provide quality care? In this article, we develop the main points on this subject so that you know everything and have no doubts about how to do it in the best way.

Entrepreneurs and managers need to be concerned with how to provide customer service. This concern is important, as more and more customers demand excellence in the quality of service.

This scenario has contributed thanks to the possibility of access to information. That is, customers can now have more details, due to digital tools, such as the internet.

Following this questioning, it is necessary to work with some points to improve the user experience.

To assist, we have prepared this text as a guide. Therefore, we will address the following items:

Follow the article to the end and clear all your doubts. Take the opportunity to follow our tips and ensure the success of your company. If there is any doubt, just leave a comment at the end of the article.

Good reading!

What is Customer Service

Customer service is the way to support your customers. This process can occur during the purchase or after, ensuring a good shopping experience.

The definition of care goes beyond the answers. That is, no matter what your goal is, quality is fundamental in this process.

At this stage, it is necessary to keep your company’s skills aligned. In the end, this needs to be passed on to your consumers.

With a job well done it is possible to keep in touch with your target, in addition to boosting the relationship management with your client.

Importance of Customer Service

When consumers look for service, it means they trust your company. But this goes beyond service because this same user believes that you can help in any situation.

By offering excellence in customer service, it means that you are ready to respond in the best way. More and more customers want their company or business to be able to solve their problems quickly.

Customer Service

The consumer believes that he should receive a special treatment, in which he has easy, intuitive service and in some cases for 24 hours.

If it is not possible to meet these goals and fail with the desire and expectation of customers it is possible that they will exchange your products or services.

As an option it is natural that they look for another company, in which they have a better relationship, that is human and intelligent.

Due to the ease of information and the way of connectivity the goal is to make your customers happy and fulfilled.

In view of these issues, it is important not to fail to serve your customers, as this can also influence the conquest of new ones.

Forms of Service

When entering into this question today, we must understand that each day we have a new universe. We can even say that we live in a new era of the customer.

With the variety of information, needs and even the current means, an action plan is a start to ensure good service.

If new means are available today, it is necessary to think that the form of relationship with consumers is also different.

For example, we have social platforms, mobile and these devices connected to new technologies.

The use of the cloud or cloud computing is a way to change customer expectations.

We need to understand that every user wants to receive attention and support, no matter what channel or device. Users crave attention without a time or place limit. Not to mention that they wait for this care, in a simple and intuitive way.

The best way to guarantee customer service is to make your customers at the center of everything.

At this point, it is necessary to invest in various resources and integrated solutions, which in the end allow efficiency, productivity combined with intelligence.

Principles of Customer Service

Quality care goes beyond education. In reality, Treating a user well is not a differentiation, but an obligation of any successful company.

At this point, you cannot be wrong, since to attract new customers requires a relationship with the company’s service.

In some cases, there is knowledge of the product or service offered, such as the advantages and benefits.

When it comes to solving a problem, structuring a process or dealing with objections, it is necessary to know how to deal with this moment. Given this, some principles can help with good customer service. See the suggestions:

  • Know your client: try to understand what he seeks. The ideal is to investigate, ask questions and put yourself in your place. This mode allows you to resolve issues quickly and efficiently.
  • Service satisfaction: this point requires that all problems or doubts be converted into satisfaction and Customer loyalty.
  • Never dislike: Service needs to be based on the user’s sympathy and empathy. For this, it is necessary that you feel what the other is feeling and be able to put yourself in your place to be able to attend in the best way.
  • Communication: communication is the basis of everything. Try to expose all information clearly and objectively.
  • Don’t leave the customer: follow up with the customer until your problem has been solved. Continued contact can help in the relationship.
  • Language: good care must take place with appropriate professional treatment. Do not follow the pattern of plastered responses. It is recommended that the language is suitable for the client, with clear and simple vocabulary.

What Good Service is for

Ultimately, good customer service ensures that:

  • Improve customer interaction and create a relationship;
  • Predict the needs of your customers and allow a positive solution;
  • Facilitate forms of contact so that it is accessible and guarantees trust and loyalty.
  • Allow to develop a business plan and understand the customer’s behavior.
  • Development of the relationship and work in the approach of the client;
  • Develop an advantage to stand out from the competition.

How to Do Customer Service

To ensure the way in which your company relates to consumers, it is necessary to follow some points. Given this, we can even make some quotes, check out:

As we see, it is essential to know how to treat people well, this should work together with professionalism and efficiency. In the end, it is possible to offer satisfaction to customers.

This process starts with meeting the needs of customers. In this case, the goal is to exceed your expectations.

The idea is to have a team that is committed and willing to serve everyone.

Patience and attention are essential factors in this process.

In addition, you need feedback from customers to know what they think about your company.

Practices for Good Customer Service

Good customer service is essential to ensure satisfaction and loyalty. Under no circumstances should the consumer be under the impression that he has been poorly served.

The function of answering cannot be routine, in addition, every customer needs to be treated differently. This is valid, as each has a different need.

The idea is to make him feel special. To help we bring some tips for this relationship. See which:

  • Conscience and be courteous: make service without prejudice. Avoid creating early or distorted prints.
  • Welcome: be pleasant, greet, ask and if possible call by name.
  • Immediate service: don’t let your customers wait. For those who wait seconds or minutes, it can mean an eternity.
  • Goodwill: goodwill can not only leave the workplace but also with your customers. Kindness does not restrict only at this point.
  • Customer service: make the customer feel welcome. The idea is that it is important. Pleasant comments allow the situation to be valued.
  • Speed: time is of the essence of customer service. But don’t give the impression that you want to get rid of the customer. The idea is that you guide as needed quickly, but without neglect.
  • Do not give orders: at no time give orders to the customer. Try to use a more cordial expression.
  • Do not use technical terms: if you have knowledge of technical terminology, you must be careful when talking to customers. In some cases, they can cause incomprehension and even embarrassment for the consumer. Try to use simple expressions and repeat if necessary.
  • Don’t have negative attitudes: negative expressions can cause a bad climate. If possible, avoid items like “can’t”, “is wrong”, “shouldn’t”.
  • Attention to complaints: good customer service needs attention to complaints. In the event of complaints and even suggestions, do not forget to send them to the upper channel.
  • Sympathy: Sympathy works like a business card. Do not forget to be friendly and present the correct information.

Further, Any company or entrepreneur needs to know how to deal with its customers. There are situations in which it is not possible to be free of problems.

However, the best way to get around is to know how to offer good customer service. With the right attitude, it is possible to alleviate the problem and even guarantee your loyalty.

Therefore, we see how fundamental it is to know how to align this contact to influence the success of your company. Follow our tips and provide a high level of service.

Through these steps, it is even possible to improve your company’s demand and guarantee rewarding results. Did you like the article?

Control of Personal Expenses: How to keep them Organized

Who has never dreamed of organizing financial life once and for all? Know that this is an achievable goal for those who control the way they spend their own money. After all, spending control is useful for many purposes: investing and making a financial return, creating an emergency reserve, buying a property and much more.

Thinking about it, we created this text to show you how to make good control of personal expenses. Thus, it will be possible to take advantage of the countless benefits that this practice brings.

What is the Importance of Maintaining Organized Spending Control?

First of all, think about your wardrobe. To organize it and facilitate your routine, the ideal would be to separate the cold clothes from the warm ones, put underwear and socks in accessible drawers, hang delicate items on hangers and so on.

Control of Personal Expenses

This organization takes some work in the beginning, but it makes you “earn” several minutes a day. After all, you’ll know which part of your closet is your favorite T-shirt. Not to mention that the clothes will not be wrinkled or lost, because you have established control over them.

This same logic applies to monthly expenses. If you don’t control them, you won’t know where your money goes.

Worse, without controlling personal expenses, you will hardly organize your personal finances to make that trip or buy the car you want so badly.

It is worth remembering that, however small an expense is, it must always be considered in your financial planning. So, nothing to ignore that candy bought after lunch, just because it cost a few cents. At such times, all money spent counts.

But How to Keep Track of Daily Expenses?

Now that you understand how important it is to know how to control spending, it’s time to see how to do it in practice. A very simple way to control your personal expenses daily is by taking notes on your cell phone or using financial control applications. If you prefer more traditional methods, it is also possible to write everything down in a notebook or spreadsheet.

For this, remember to always ask for the invoice for everything you buy.

It is essential to find a way to record these costs on the spot or right afterward, OK? Thus, you will not forget the transactions you made on the day and you will be able to control your monthly expenses in a more organized way.

To make it easier, it is important to have an expense control spreadsheet. In it, you get complete control of the entry and exit of personal expenses and revenues. But remember that it must always be updated for greater efficiency.

What Are the Best Spending Control Apps?

There are many available on the market and they can help you a lot to keep your accounts organized. See 3 application options for spending control below:


Organizze draws attention because it is very easy to use. In it, you can register everything that enters and leaves your account. To use it, it is not necessary to have the internet at all times – the app saves all the information entered and transfers it to the cloud as soon as a connection is established.

It can be used for free, but it also offers a paid plan, with more features. It is available for Android and iOS.


At Mobills, you can create goals, dreams and even detect what your biggest expenses are: food, electricity and internet bills, etc. In addition, it is also possible to divide your assets into specific accounts – this functionality is ideal for setting up an emergency reserve, for example.

It also has a paid and a free plan. It can be used on Android, iOS and Windows Phone.

My money

With Meu Dinheiro, you control not only your daily expenses but also your investments and applications. It is also possible to record your goals, specify revenues and the like. It’s free, but it also offers an optional paid plan. You can download it on Android and iOS.

Step by Step to Control Personal Expenses

Want another little help to start taking care of finances? Here are just a few important steps in this process:

1. Write down all your expenses

As we said, this is a fundamental practice for controlling personal expenses. You can use any of the applications suggested above or a spreadsheet to control expenses.

To be effective in this step, make it a habit: spent it, noted it. Thus, you will hardly forget any purchase you made, regardless of whether it cost R $ 1.00 or R $ 500.00.

2. Organize expenses and align by categories

The hustle and bustle of everyday life mean that we don’t have time for almost anything, don’t we? Anyway, take a few minutes at the end of the month to organize your personal expenses.

Here, the idea is to align them by categories, such as food, entertainment, extras, parking, car, health, etc. This step may be a little boring at first, but you’ll soon get used to it. Don’t forget: all personal expenses must be registered and belong to a category.

3. Identify where the money is going and pay more attention to spending

After a while of taking the first two steps, you will be able to know where your money is going. After all, it will be easier to analyze whether you are spending more than you should be spending on food, transportation or the cable television plan, for example.

Learn to Save and Invest Your Money

After controlling finances, the next step is to save to invest. That way, you can lead an organized financial life, and this is the first stage to have a peaceful future and to be able to fulfill your dreams. So, set some goals to be achieved.

Think about what you most want: to know another country, to have a house on the beach, to buy a luxury car, to take a course, etc.

Then, take the money out of Savings and choose an application that has a more interesting income. In case you don’t understand much about the subject, know that there are many articles and even free courses on investments on the internet.

Just be willing to learn and start investing. In no time, you will learn more about stocks, fees, Treasury Direct government bonds and the like. After saving and making your money more, you can reap the rewards of your organization.

After all, the time will come when you will be able to enjoy all the benefits of spending control you have made. You will finally be able to fulfill your dreams and lead a life with more comfort and quality of life. How about starting right now?

Bank Statement: How to Read and Analyze the Data and Dates

Do you know what a bank statement is? How is it composed? In this post, we explain what this important document consists of, its main elements and function.

Bank Statement

What is a Bank Statement?

It is a document that the holder of a savings or checking account can request or receive periodically, in which they will be able to know their available balance and the movements they made in the month consulted.

It is issued free of charge and it seeks to maintain control of all the operations that are carried out, and which represent variations whether positive or negative in the account balance. For the selected period, all operations performed regardless of size are displayed.

Being able to consult the bank statement of each bank.

Data Available in Bank Statement

The data that the bank statement must contain are the following:

  • Date of issue.
  • Account holder.
  • Previous balance.
  • Account number.
  • Movements (detailing date and amount).
  • Final balance.

Importance of Dates in Bank Statement

The dates shown on the bank statement are very important and three types are handled specially.

  1. The issue date of the extract.
  2. The date of the movement or movements, that is, when each operation is performed.
  3. The value date, which is the day from which interest begins to be credited to the account or, conversely, when a debt ceases to generate interest.

How to Read the Bank Statement Correctly

The bank statements reflect the reports of movements of the bank accounts of each person, since a savings account or a current account, investment or credit card have a summary of the handling of said products.

It is usually a document/voucher that is not given the importance it has when it comes to managing personal finances, they do not usually review it and they do not even know that this piece of paper can save them from over indebtedness.

As mentioned by the Organization for Economic Cooperation and Development ( OECD) , highlights that two out of every three young people in the world do not know how to manage their bank account or know how to read their bank statements, which can generate a risk of over indebtedness.

To understand how to read the bank statement, they must know which statement reaches their account each period, since it depends on whether it is a savings account, a checking account, a credit card or another product, billing varies. The bank statement can vary between different entities, so it is not always the same between banks.

  1. Payment deadline:  if they do not pay the value established before that date, they will default, generating surcharges.
  2. Total quota: it is the approved amount to make purchases or another type of transaction. The quota varies between each bank according to the debt capacity of each person and the behavior of payments during their credit life. Showing the available space after the purchases of the month.
  3. The quota of advances: it is the value approved by the entity to withdraw cash. And it depends on the quota of the credit card.
  4. Invoiced period: these are the dates from and until when the extract transactions were taken into account, the cut-off date is monthly on the 15th or 30th of each month.
  5. Summary of the total balance: it is one of the most important aspects, detailing the purchases made, advances and interests of the purchases. In addition to the date of the transaction, the place where they made the move and the number of installments deferred in the purchase.
  6. Minimum payment: is the value to be paid each month for purchases made in the invoiced period. That payment includes:
    • The delinquent balance to be charged if they had delays in previous months
    • Purchases of the month the first installments of purchases made in the cut-off period,
    • The default interest generated by not paying the minimum payment on time in previous months
    • Current interest paid when purchases are deferred to more than one installment
    • The advance fee charged when they do it
    • The advance commission
    • The handling fee
    • VAT for reissue of the card
    • The past purchase quota values ​​the purchases deferred to more than one quota.
  7. Total payment: it allows not to pay interest. It is the total value of purchases with the card, it is better to pay it in full so as not to generate current interest for deferring to installments.

Type of Bank Statements

  • The savings or checking account statement reflects the deposits or withdrawals made to the account in a certain period.
  • The investment portfolio extract contains the performance and returns on the investment and data such as retention at the applied source.

What is the Bank Statement for?

So from different associations highlight the importance of knowing how to correctly handle the bank statement document, since it allows:

  • Know the debt capacity
  • What do they spend the money on and more if they need to save or pay debts
  • Interest paid for the purchase
  • Have an expense control.

Credit Card Statement

One of the statements that cause confusion is the credit card statement, which contains all the movements made during the month. Showing purchases, advances, taxes and interest they generate.

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Savings Account – Must for Every Working Employee

Savings account makes the amounts deposited in them grow depending on the rates of return they provide and the size of the investment occupied. Discover how they do it!

Making your savings grow alone is not a fantasy. Through the use of savings accounts, most banking institutions can offer protection to the money that you keep each month, in addition to making it invest so that, eventually, you get an additional percentage of the earnings that you initially deposited in your account.

This is how savings account work:

You Choose the Type of Account You Want to Open

This will depend on the banks you have in mind to save your money since each one has different types of savings accounts available. Despite this, it is important that you ask the right questions to make an informed and beneficial decision.

Savings Account

Some examples of important features you will want to research before choosing a savings account are:

  • Commission for opening: that is, how much does the institution charge for contracting the savings account service.
  • Minimum opening amount: this refers to the amount for which you must make the first deposit to activate your account.
  • Minimum monthly balance: Sometimes, savings account require a minimum amount of money to serve as collateral or to avoid charging services such as account management.
  • Commissions for account management: it may be that monthly, the bank discounts a moderate amount of money as payment for the use of your account. Consider the amount and compare it with your savings to avoid this discount exceeding them.
  • Additional services: depending on your needs, make sure that the bank provides you with a checkbook or card and that you can make transfers of money without additional commissions.
  • Rate of return: The rate of return is an amount that is added to the amount of money invested. It is established by each banking institution and can play in your favor since, depending on the amount and term of your investment, it will increase savings.

Deposit Savings and Choose What Percentage You Want to Invest

The rate of return is called the amount of profit or loss that was had when making an investment for a certain time.

Banks use these rates to increase your money as compensation for giving them the authorization to make investments with savings.

The bank in which you choose to open your account and deposit your earnings will provide you with a list of rates and terms in which you can invest, as well as the benefits that this will bring you.

Likewise, depending on the percentage of the money you have available, the bank will let you know the performance that your account will generate.

And, although it may not be much, in the end, the rates of 2 or 3 percent will end up increasing your savings in a useful way for you.

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Select the Term in Which Money Will Be Invested

These terms can vary from days, weeks, months and even years. Depending on the term in which you decide to authorize the bank to invest your savings, the rate of return will be adjusted and will generate more long-term profits.

It is always recommended to make investments for at least a year. Since in this way, you can ensure that savings are being used and gaining value as opposed to just having them stored in a piggy bank.

Although if a year seems too long, there are short deadlines that could also generate profits and in which you could spend your money immediately if an opportunity arises.

If Necessary, You Have Your Money at the Time You Want

As mentioned earlier, some banking companies provide their customers with ways to use their savings quickly and easily in emergencies.

It may be that having a percentage of it invested, the institution will charge some penalty for withdrawing it earlier.

But, it is not mandatory that you stay in the bank all the time and it is likely that you can use the checkbook or debit card that they provide you to dispose of your money.

In extreme cases, such as the fact that your bank goes bankrupt and closes, you should be calm. Since savings are always protected and guaranteed by the Institute for the Protection of Bank Savings.

Making your money move instead of being static and available to spend at the least indicated time, will help you create greater awareness of your earnings and plan to meet your goals.

In these times, saving is a necessary activity, and what better way to do it than using savings account to protect your wealth and future.