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Money In Vs Money Out

financiallyfreeby30
Posts: 4 Newbie

I am not too sure if this is the correct category for this question, so if it is not please feel free to move.
I have recently been taking a closer look at my most recent bank statement and have noticed that my "money in" is lower than my "money out" and i cannot understand why
Does anyone know why this could be?
The difference between the two is about £500, so it's a significant amount of money.
I do i have a CC and a loan through the bank that i use and I didn't think this could be the reason, but now im second guessing everything..
I have also noticed that my "experian boost" says that the "money in" is less than the "money out" but this is only about a £150 difference.
I'm just really confused, so hoping someone may know the answer
I have recently been taking a closer look at my most recent bank statement and have noticed that my "money in" is lower than my "money out" and i cannot understand why

The difference between the two is about £500, so it's a significant amount of money.
I do i have a CC and a loan through the bank that i use and I didn't think this could be the reason, but now im second guessing everything..
I have also noticed that my "experian boost" says that the "money in" is less than the "money out" but this is only about a £150 difference.
I'm just really confused, so hoping someone may know the answer

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Comments
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I don't think that it's really possible to answer this without seeing the statement in question. Looking at the one before and the one after might also be useful. On the face of it, you've simply spent more in the statement period than you've received.There are all sorts of reasons why this might happen, starting with straightforward overspending. Or maybe it comes down to the start and end date of the statement period - perhaps it started just after you were paid and ended just before your next payday? Those are just the first couple that come off the top of my head. I'm sure that there are many other possibilities.Do you use a money management app of some sort? Using one to plan ahead can be helpful. I use AceMoney, but others are available and well worth considering. The scheduling function allows me to look ahead, so that I can always see how much there should be in my accounts at any given time, and ensure that I don't go overdrawn.0
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financiallyfreeby30 said:I have recently been taking a closer look at my most recent bank statement and have noticed that my "money in" is lower than my "money out" and i cannot understand why
Does anyone know why this could be?
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The statement will show you exactly why.
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blue.peter said:I don't think that it's really possible to answer this without seeing the statement in question. Looking at the one before and the one after might also be useful. On the face of it, you've simply spent more in the statement period than you've received.There are all sorts of reasons why this might happen, starting with straightforward overspending. Or maybe it comes down to the start and end date of the statement period - perhaps it started just after you were paid and ended just before your next payday? Those are just the first couple that come off the top of my head. I'm sure that there are many other possibilities.Do you use a money management app of some sort? Using one to plan ahead can be helpful. I use AceMoney, but others are available and well worth considering. The scheduling function allows me to look ahead, so that I can always see how much there should be in my accounts at any given time, and ensure that I don't go overdrawn.I don’t use apps, but I do have a budget tracker on excel and I’ve recently opened a Monzo account that I was only planning to use for saving, but I’m debating switching to it
I think I’ll have a look into AceMoney though, thank you!0 -
eskbanker said:financiallyfreeby30 said:I have recently been taking a closer look at my most recent bank statement and have noticed that my "money in" is lower than my "money out" and i cannot understand why
Does anyone know why this could be?
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financiallyfreeby30 said:eskbanker said:financiallyfreeby30 said:I have recently been taking a closer look at my most recent bank statement and have noticed that my "money in" is lower than my "money out" and i cannot understand why
Does anyone know why this could be?
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Apps are very useful but I really cant understand why you can't see what's going on just from looking at the statement. If the period you budget over is different from the period the statement runs over then there is obviously going to be a difference in incomings and outgoings.A crude example:20th Feb - paid £10025th Feb - spend £50 in Asda5th March - save £5020th March - paid £10025th March - spend £70 in Asda5th April - save £30A statement showing 1st March to 31st March would show £100 in and £120 out even though income equalled outgoings over your budget period.0
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