THE SHORT · ACCOUNTS
Your account fees come to exactly one dollar a day
$365.40 over twelve months, in four lines, three of which you have never read. None exceeds $17, and that is exactly why none gets noticed.
You pay for a banking package. You know its price: $16.95 a month. So you think you pay $203 a year. Here is the full sum.
| Line | Over twelve months |
|---|---|
| Monthly package ($16.95) | $203.40 |
| Transactions beyond the package (6 × $1.25 a month) | $90.00 |
| Interac transfers over the quota (4 × $1 a month) | $48.00 |
| Paper statement ($2 a month) | $24.00 |
| Total | $365.40 |
A dollar a day, to within four cents. And the package you know about is only 56% of it.
The other three lines have one thing in common: they depend on you, not on the bank. The number of transactions, the number of transfers, the format of the statement. They are the only three you can act on without changing institution — and they are the three nobody looks at, because they arrive in small pieces.
A marker to place the amount: $365.40 is more than the $240 of management fees paid on a $35,840 portfolio. The account where money sleeps costs more than the account where it works.
Yoseri's Accounts and net worth page spots these lines in your transactions and adds them up over twelve months, without you having to hunt for them.
Your money, with no made-up numbers.
Accounts, budget, savings, debt and investments in one statement. Free with manual entry.