My online bank statement changed their interface recently with “new information.” It indicated that “spendable balance” in my checking account was negative.
What?
I wasn’t in arrears and I was not overdrawn. The “spendable balance” was a projected balance including disbursements scheduled for the next seven days–including two payments set to come out a week from when I viewed the statement. The “spendable balance” did not take into account a regular deposit that would arrive in the next few days. Once I understood the “spendable balance,” I understood it and there was no cause for concern.
When you see a statement or a piece of information, think about it before you react to it. Where does that statement come from? Are there words in the statement you do not understand? Do you understand the purpose of the document that contains the statement? Do you know who is giving the statement?
And, particularly in my case, is the information complete?
2 Responses
My light bill has a formula like that. I never know if I have a balance on hand or a balance due.
Sometimes those can be more confusing than necessary.