Have you ever wondered where all of your money was going? It can be easy to lose track of your everyday expenditures, but Discover’s Spend Analyzer can give you a clear picture of how you’ve used your card.
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Track Your Spending Habits
Once you log into your Discover account, you can go to the Spend Analyzer page, which gathers information from all of your purchases. Note that returns, balance transfers, cash advances, pending transactions and other/miscellaneous statement charges are not included in the Spend Analyzer.
The Spend Analyzer allows you to view your card activity within a given time frame, such as one month, three months, year-to-date or during a previous calendar year. Once you’ve selected a time frame, a pie chart appears that shows all of your spending by merchant category, such as supermarkets, gas stations and restaurants. By clicking on any slice of the pie chart, you can see more detailed information about your purchases within that category.
Next to the pie chart, you will see a bar graph depicting your spending history for each month during the time period you selected. And below the pie chart, you’ll see a list of all of your transactions along with the transaction date, post date, description, amount and merchant category. In fact, you can click on the top of each column to sort your transaction by any of these fields, and you can even export this information as an Adobe Acrobat or Excel file.
Organize Statements and Transactions
In addition to helpful charts and graphs, the Spend Analyzer allows you to view other takes on your spending habits, each with a different tab. The Search Transactions tab allows you to search your entire transaction history by entering in the merchant name, transaction date, amount, merchant category or any combination of these. You can also select the Statements tab to browse previous statements to examine your spending in each statement cycle, so you don’t have to find the statements you received by mail or email.
Finally, you can click on the Account Activity tab to view a dashboard of your card’s current status. This screen displays your last statement balance, your recent payments and credits, and your current transactions to determine your current balance. This screen will also show your pending transactions as well as the recent purchases that have posted to your account since your last statement.
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Understanding Your Spending Habits
When you use your Discover card for most of your daily purchases, the Spend Analyzer will allow you to finally see where all of your money has been going. This can be an excellent tool when you’ve created a budget and you want to see how your actual spending compares to what you planned.
By utilizing Discover’s Spend Analyzer, you can find out exactly how you spent your money, and take steps to change your spending habits in order to achieve your financial goals. And you will always have a quick answer to the question, “Where did it all go?”