I Spend How Much?!

Last week I Unbanked and made my first account with Connex(BTW Michael and Michelle from the North Haven branch couldn’t have been nicer!). I opened up an Unbank Checking, and a Regular Share Savings account (all it took was a $25 minimum deposit!). I couldn’t believe I was going to get a 2.5% APY return on my money from my Unbank checking! All I needed was direct deposit, 12 transactions on my debit card, online banking, and e-statements. I wasn’t worried about meeting those requirements though, because even if I didn’t, my Unbank checking would still have no service fee.

I know, talking about fees, direct deposit, APY, and the like isn’t the most exciting thing to talk about. However, there is a rather interesting and unexpected outcome to my new Unbank checking. When I got signed into online banking I wanted to check out what all the features were. I came across this feature called “FinanceWorks” that helps me keep track of my spending, breaks it down to categories, and allows me to set budgets.

I realized FinanceWorks is a free value-added service  to help members manage their finances. Enrolling into FinanceWorks is completely optional, but I highly recommend it.

Not only does this service allow me to track my Connex accounts, but also any other accounts or bills that I have. I was eager to find out just how I was spending! After entering in all of my accounts, I was left stunned. Without going into personal details, I can tell you my finances were all out of whack. I was spending over 50% of my money on just 2 categories (they were categories I wish my money wasn’t going towards)! I never would have realized just how insane my spending was in certain areas if it wasn’t for Connex. I didn’t even know they offered such a service (for FREE by the way!). Now I can hopefully tanker down, keep an eye on my spending, and start saving some money. I will keep you all updated on how I’m doing!

Do you track your spending? Do you wish you could keep your spending under control?

-Chris, VP of Unbanking

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Improving the lives of our members... one member at a time.

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Posted in Financial Education, Improve your life, Money Saving Tips

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