Today is the day to raise awareness about the impact of a maintenance commission on our monthly budget and I will start with the following question
The first impression seems to be a generalist question, but it is not. You will quickly see where you are going.
In my business as a banker, I have the opportunity to realize that there are many clients who do not bother with the charge of 5 to 15 euros of maintenance commission every quarter.
What Do You Know About Your Money?
What I usually hear is ” Alright …” or ” It does not matter …”. I even understand that the customer is satisfied with the service and the charge of 15 euros is insignificant, but doing nothing to avoid seems too much and a complete disinterest for money.
Moreover, most clients who do not care about the commission charge are clients who care about the interest rate of their small savings and who are worried about saving to raise some money at the end of the year.
Is There A Lack of Sensitivity to Money?
So let’s see …
Finding the value of your daily wage is very simple regardless of whether you are employed or self-employed. I think the most correct way to do this will be to divide your monthly net tax salary by 22 days, however, also dividing by 30 days may be a correct amount for you.
Going back to our example, the generality of these customers have a monthly payment of approximately 550 euros, as soon as we make the calculation for the daily amount we find that these customers receive 25 euros per day.
Paying a maintenance commission that represents more than half a day of work seems a bit exaggerated, in fact, the value of the commission represents 60% of the daily wage. In other words, the bank every quarter gets them 60% of a day’s work, or even, 60% of one of the working days is for the bank and for only a commission.
By the way, and if we join the product subscription commission, card fees, any authorized and unauthorized bank overdrafts, checks, transfers, over-the-counter statements, etc., how many working days will the bank need every year? How much money will you need to pay for these charges?
Realizing the value and weight of each expense or charge on our daily paycheck will help you make sound, optimum money-related decisions and save you lots of money every month. It is very easy to consider that 10 or 25 euros is little money if we compare with our monthly salary.
Well, that’s 25 euros at 550 euros, it seems little more is a day of work that you just wasted or you stopped saving for your future or for that purchase you both expect. Always keep in mind the value of your daily wage and you will see that you will be better prepared for the future.