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Eight Reasons Why You Should Regularly Review Your Bank Statement! - Business (2) - Nairaland

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Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by seunny4lif(m): 7:43am On Jul 17, 2017
My account dey Zero since last year
0.00
Wetin I want check inside?
The zero again

1 Like

Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by Alexbrain(m): 7:43am On Jul 17, 2017
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Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by supereagle(m): 7:47am On Jul 17, 2017
What's the business of the blind man with NEPA. If you have enough their you would show concern.
Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by Sonoyom(m): 7:54am On Jul 17, 2017
Wetin consign vulture consign barber?
Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by durodendus: 7:55am On Jul 17, 2017
Thanks a lot.
Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by JaneyBlingx(f): 7:55am On Jul 17, 2017
agarawu23:
balogun ?


Yes shocked Balogun Jane
Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by Nobody: 8:02am On Jul 17, 2017
swiz123:
What is a bank statement , aside from a piece of paper showing how much money you have ? In short, it is a snapshot of your banking activity during a specific time frame , typically a month , according to
www . gobankingrates . com .
Most banks send a copy of your bank statement by mail or through online paperless statements for review each month — and many people don ’ t pay attention to theirs .
Here are eight reasons why you should start reviewing your bank statement each month and stop ignoring it now.
1 . Applying for a mortgage loan: When you are applying for a mortgage , you will have to submit a copy of your bank statement to verify your income . Mortgage lenders take your income and credit score into consideration when determining whether to approve you for a loan and what interest rate you will get.
Your bank statements show how much income you have , how stable it is and where it comes from . All this information will give lenders a good idea of what kind of borrower you are .
2 . Filing your taxes : If you claim itemised deductions on your taxes , you need a record of how much you spent and on what. If you don ’ t have itemised receipts for every purchase, your bank statements and credit card statements can serve as backup . You don ’ t need to submit receipts or bank statements when you file, but if you get audited, you ’ ll be happy you have them.
3 . Disputing a credit report: It is your responsibility to fix any errors on your credit report . To dispute a credit report error , you will have to contact the credit reporting bureaus and your creditor — and provide details about the error . To support your claim , you might need to provide copies of your bank statement , which would show payments that perhaps were not reported .
4 . Applying for a car loan:
Whether you are applying for dealer financing or a car loan through a third - party lender, you will need to provide proof of income . Although your recent pay stub is an option, your bank statement can also prove you have sufficient , steady income . If you are self - employed and applying for a car loan , a lender might require you to provide three months’ worth of bank statements .
5 . Creating a budget : One of the best things you can do for your financial future is to create a budget and stick to it. Referring to your bank statement to see your spending history can help you plan and track your budget .
6 . Qualifying for medical programme : Government programmes especially in developed countries offer medical coverage for disabled , elderly and low -income individuals . This idea is being introduced in Nigeria as well. Because this is an income - based programme, there are limits on how much you can earn and remain eligible for coverage . To qualify for this coverage , you will need to submit your bank statements .
7 . Filing for divorce : When you file for divorce , you must turn over documentation that lists your shared and individual assets . Couples often have disputes over assets during divorce proceedings ; your bank statement is a good way to show your current financial status .
8 . Refuting a transaction: If you don ’ t review your bank statements you might not notice unauthorised charges or transactions — and you could end up paying for them. For instance , you could see a cheque that was cashed on your account that you don ’ t remember writing . Should that happen, your bank statement would show the cheque image with your signature on it , which could serve as proof of fraud if it is a false signature .
Although your bank statement might seem like an unnecessary piece of paper — or virtual document — it can be useful in many situations . Not only can it help you make sure your account balance and transactions are accurate , it can serve as proof of income , so carefully review yours every month . If you don ’ t know how to get a bank statement , contact your financial institution for help .
punchng.com/eight-reasons-to-regularly-review-your-bank-statement/
CC:mynd44,lalasticlala


These reasons are for white people.
Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by LordBaelish: 8:06am On Jul 17, 2017
EntMirror:
Reviewing mine is just a waste of time.. The figures fluantuate every hour of the day. I just draft out my budget and cash out as much as I want. That's the joy of being an entrepreneur. grin
Visit www.entmirror.com

My guy, you've been yarning a lot of crap for a while.. Hope everything is okay?
Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by madridguy(m): 8:15am On Jul 17, 2017
Thanks for sharing. I will note it and practice it when I get money for account.
Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by Prece(m): 8:34am On Jul 17, 2017
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Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by agarawu23(m): 8:51am On Jul 17, 2017
JaneyBlingx:



Yes shocked Balogun Jane
I sent a token to u so u can use it to check if your alert still dey work, manage am grin. smiley

3 Likes

Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by JaneyBlingx(f): 8:57am On Jul 17, 2017
agarawu23:
I sent a token to u so u can use it to check if your alert still dey work, manage am grin. smiley

Omg... Thank youuuuuu... Wow.. Can't believe this.. My alert ringtone dey work now.. Thanks a lot. I never expected it. Blessings fall on you

4 Likes

Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by agarawu23(m): 9:00am On Jul 17, 2017
JaneyBlingx:


Omg... Thank youuuuuu... Wow.. Can't believe this.. My alert ringtone dey work now.. Thanks a lot. I never expected it. Blessings fall on you
cool cool cool

2 Likes

Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by salesforce: 9:46am On Jul 17, 2017
Ok
Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by Candybob(m): 10:00am On Jul 17, 2017
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Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by Deem: 11:42am On Jul 17, 2017
ignorance..nice post undecided
Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by Oluwainnie(f): 12:10pm On Jul 17, 2017
Azzzin ehn
veekid:
No be who get money for account go dey review what's der?
Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by TellMeNothing: 1:51pm On Jul 17, 2017
JaneyBlingx:


Omg... Thank youuuuuu... Wow.. Can't believe this.. My alert ringtone dey work now.. Thanks a lot. I never expected it. Blessings fall on you

Walahi if i been get money too i for send for u that ur comment crack me grin
You say Your balance is #1250 my own is #1100

1 Like

Re: Eight Reasons Why You Should Regularly Review Your Bank Statement! by yongg: 11:51pm On Jul 17, 2017
Getting a loan should be a social advantage or priviledge... Loans are not bad, you just need to know when to use them.

If you understand this, you will start taking out loans just for building your credit worthiness by starting out with small amount and payments. This strategy is best done when you do not actually need the loan. This way over a period of time, you would have gotten points (credit ratings) enough to get you reduced interest rate on loan repayments (Y'all know that Nigerian lenders, banks and micro-finance et al do have cut-throat starting interest rates, right?)

Now that you may have built your credit rating to access greater amounts at smaller interest rates, all you need to do is just continue living you life as normal. This way if something unexpectedly happen, you will have financial buttress; and there are a lot of things that could popup...

...It could be, your house is flooded and you need to move to a new place asap or a hotel but no money until payday (do your calculations and due diligence)

... Or it could have been a robbery, and you need a replacement until payday (or several months of paydays)

...It could be a business opportunity to valuable to pass over

... It could be medical related, or simply critical to your life process... the list is endless

This is protection in a way... It basically saves you from being stranded.

There is also insurance... (One can insure one's booty, if it is one's breadwinner... funny right? check google)

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