How many times do you check your bank statement? Truth is most people never or rarely looks at their bank account or credit card statements, and often when they do, there are strange amounts deducted for things they haven’t authorised.
Wikus Olivier says the easiest way to notice any strange amounts going off your accounts, is to plan debit orders for the same time each month.
DebtSafe warns that scammers get hold of people’s money by taking less than R99 off someone’s bank account; a person will not get a notification on their smart phone for this amount and the only way to check this, is to check your bank statements every month.
Construct your monthly budget with your banks statements next to you. It will give you good insight into what you are actually spending.
Make sure each and every debit order going off your account is accounted for.
Check that the debit orders are in fact the correct amounts according to your credit agreement.
Check bank fees while you are at it.
Total all the small amounts that you spend at the grocery store.