So Many Shoes, So Little Money – Blog

Statements

April 14th, 2009

Some statements ring true: “I love those shoes!” Some false: “No, you haven’t gained any weight.” And, some you just plain ignore.

What do you do with the statements you receive from your bank or from your investments? Do you use them to reconcile your checking account? Do you actively look at your portfolio? Or, do you do you toss them unopened into a drawer?

As daunting as it can seem, it really is a good idea to open them up and take a good long look. You should reconcile your bank account very month. Reviewing your statement and balancing your account ensures you know where every penny of your money has gone – except of course the cash that keep disappearing from your wallet; we’ll save that for another blog. Reviewing your statements also helps prevent identity theft for the same reason – you’ll know quickly if someone has been using your accounts.

Your brokerage statement is no different. If you have investments you should be reviewing them regularly. You want to make sure your investments goals are being met and that your portfolio is diversified.

Not convinced? You’ll need to know how much money you have before you can know if you afford this season’s staple: the statement dress. The best way to do that? Open your statements.

Fashionista Fact:

This season it’s all about the statement dress. (www.net-a-porter.com) It’s a great solution for any event – office to wedding. Add a blazer for the office, leggings for day, high heels for evening, or belt it for a new shape. Find a great one … but not two or three!

Filed under: Bank Accounts

Tags: Shopping, spending