What are Spending Visuals? | A Guide to Dozens
It can be hard to make sense of your spending just by looking at rows on your bank statement. A chronological list of transactions doesn’t paint a very insightful picture of your financial life... so we at Dozens decided it was time statements were given an overhaul.
It’s so easy to spend without thinking – a couple of pounds for a coffee here, six quid for an Uber there. But it’s hard to understand the bigger impact of these little habits, if you only ever see them as a list. So many of us just ignore it all and then wonder why we’re dipping into our overdraft before payday.
But the secret to better financial habits is being able to see those habits in the first place. And the secret to that, is in the data. Every single banking provider records information when you use your card – how much you spent, the time and place of the transaction, etc. At Dozens, we think it’s time that data is used for your own benefit.
Our spending visuals use the data behind your transactions to map out your spending and make it easier for you to see patterns and where you could save money.
Here are some of the different ways we show you your spending:
Location
See your money on a map; are you spending more on your doorstep or out and about? Was it the treats on that big holiday that took you over budget, or was it actually the regular purchases closer to home?
Time
Our Spending Heatmap lets you see what time you’re most active with your spending – is it Monday morning or 11pm on a Wednesday?
Category
What are you spending on? Quite often we think our money is going on one thing (bills) when in reality it’s something else entirely (fancy sandwiches). View your spend by category to get a better idea of what you’re spending on.
Transaction size
Sometimes it’s the small purchases that add up to be the biggest spends. Filter your spending by transaction size and see what’s having the most impact on your wallet.
Retailer
Seeing your spending by retailer will show you where more of your money is going – is it Itsu or ASOS?
Happiness
Our Happiness Ratings don’t use existing data, you’ll need to rate your transactions yourself in the app. But doing this helps you evaluate what is really important to you, so you can spend on what you like and less on what you don’t.
See your spending in a whole new way and engage more with your money with our spending visuals – just head to the Spend section of the app to get started.
Don’t have a Dozens account yet? Download the app from the App Store.