Missing payments, hidden fees and accumulating expenses can lead to overdrawing your account and falling into debt. This happens if you don’t get regular insights about your finances. With the notifications feature of Numbrs you are always informed, and making the right financial choices becomes easy.
The problem: Losing track of your Expenses
Everywhere we go, we are tempted to buy things. A coffee here, a chewing gum there and on top of that, there is a multitude of offers online with some sellers even enabling one-click purchases.
It’s easy to lose track of your expenses and the danger of overdrawing your account and falling into debt is higher than ever. And there is no incentive for banks to inform you about your finances, as they often benefit from overdraft fees and interest rates.
It’s understandable that many people struggle with keeping track of their expenses. Who has the time to check their balance and monitor every little expenditure constantly?
The solution: Automatic banking Notifications
The Numbrs Notification feature can make a massive difference without you having to spend more time managing your finances — to the contrary. You’ll spend less time checking your balance and still be more informed than before. Read our previous blog post to learn in detail how to quickly set up notifications to your individual preferences.
1. Daily summary of your transactions
Starting your day, you’ll receive a summary of your transactions of the previous day. This immediately gives you a sense of your spending habits so you can make an informed decision about how much you would like to spend today.
2. Salary notification
Good news: get a notification as soon as you’ve received your salary. This is a great time to adjust budgets, schedule payments, and book your summer vacation.
3. A Heads up for upcoming payments
Schedule your payments and receive a notification from 1 to 5 days before the transaction. Knowing when your next scheduled payment or standing order will be deducted, gives you a heads up so you know whether or not it’s a good idea to buy new shoes or anything else you’re tempted to buy. You don’t have to give up on purchasing cool new things. Simply create a saving goal for the shoes and you’ll enjoy them even more as you won’t have to overdraft your account.
4. Monthly summary of your spending habits
Every month, you will receive a summary which gives you an in-depth sense of your spending routine. Evaluate your spending habits every month to detect unnecessary expenses and optimize your finances. You will gradually improve your finances and ultimately have more money and time on your hands.
5. Low balance alert
The low balance alert notifies you when your account balance has reached a predetermined amount. It’s your choice at what amount you would like to be notified. We recommend setting it around 10–20 % of your net income, so you have enough left to get through the month.
6. Expense management with budget notifications
The Numbrs Budget feature is a great tool to take control of your expenses. You can create as many budgets as you want until all your expenses are covered. You won’t have to worry about overspending as Numbrs sends you a notification when your budgets reach 80 % and again when they’ve been exhausted.
With these notifications in place, you will automatically make better decisions and gain control over your finances. We believe that empowering you the user, leads to an overall stronger and more stable financial world. We hope with these tips you’ll learn how to make the most of the Numbrs Notification feature and can advance to more economic freedom.