Analysing Good Practice Using Bank Statements


1. Never in the red – The Byrne’s statement is always positive so they never use an overdraft which has interest on any overdrawn balance and is expensive.


2. Regular savings – A standing order of €200 transfers to a savings account each month without the household having to do anything.


3. Increasing balance – They are living within their means as their balance in February is higher than in January.


4. Shop around for the best deal – In January they paid €72 for XYZ insurance. In February they switched to ABC Insurance, costing €60, saving €12 per month, or €144 for the year.


5. Storing records – It is a good idea to store bank statements so a household can have them ready to use if applying for a loan, or to use to compare statements in different months to help spot any trends.


Account Holder:


Your Current Account Statement - January 2026 Byrne Household, 14 Palm Walk, Galway, G93 XY12


Account Number: 23456789 Statement Date: Date


01-Jan-26 03-Jan-26 05-Jan-26 06-Jan-26 10-Jan-26 15-Jan-26 20-Jan-26 25-Jan-26 30-Jan-26 31-Jan-26


| IBAN: IE29 BOFI 9000 0123 4567 89 31 January 2026 Transaction Details


BALANCE FORWARD Tesco - Groceries Netflix SEPA DD Child Benefit


SO - Savings Account XYZ Insurance SEPA DD Sunshine Creche SEPA DD Tesco - Groceries Paypath - Salary Rent SO


Opening Balance €850.00


Payments Out (€) Payments In (€)


165.00 16.99


420.00


200.00 72.00


650.00 155.00


3,200.00 1,600.00


Payments Out €2,858.99


Payments In €3,620.00


Account Holder:


Your Current Account Statement - February 2026 Byrne Household, 14 Palm Walk, Galway, G93 XY12


Account Number: 23456789 | IBAN: IE29 BOFI 9000 0123 4567 89


Statement Date: 28 February 2026 Date


01-Feb-26 03-Feb-26 05-Feb-26 06-Feb-26 10-Feb-26 15-Feb-26 20-Feb-26 24-Feb-26 28-Feb-26 28-Feb-26


Transaction Details


BALANCE FORWARD Tesco - Groceries Netflix SEPA DD Child Benefit


SO - Savings Account ABC Insurance SEPA DD Sunshine Creche SEPA DD Tesco - Groceries Paypath - Salary Rent SO


Opening Balance €1,611.01


132 2 Payments Out (€) Payments In (€)


170.00 16.99


420.00


200.00 60.00


650.00 175.00


3,200.00 1,600.00


Payments Out €2,871.99


Payments In €3,620.00


Balance (€)


1,611.01 1,441.01 1,424.02 1,844.02 1,644.02 1,584.02 934.02 759.02


3,959.02 2,359.02


Closing Balance €2,359.02


Balance (€)


850.00 685.00 668.01


1,088.01 888.01 816.01 166.01 11.01


3,211.01 1,611.01


Closing Balance €1,611.01


STRAND 1


CHAPTER 13: Bank statements


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