• Erik Wolf

Profit and Loss

Looking at your result a.k.a profit and loss can be a great way to see trends over time. It makes is very obvious if you are staying consistent with your spending goals or if you are coming closer to your savings targets.

It is especially useful to find macro trends, which can then help you to address habits which are slowing you down in your quest towards financial freedom, for instance.

As an example, if your goal is to save at least 1000€ per month and you consistently see that every third month you do not reach that target, it could be useful to look at why that is. Perhaps your target is too high to keep consistent (leading to backlashes 😤), or there is some aspect of your life which tends to escalate costs particularly every 3rd month. Or maybe you have some quarterly subscription you always get surprised by!

In either case, seeing these causes gives you the insight necessary to adjust in a way which works with your lifestyle.

Profit and Loss is available by default with Nordveld Flow and will show the results of all known accounts (to Nordveld Flow)

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