Your balance isn’t a mystery: only three things move it. Once you can see each one, your account always makes sense.
The three movers
- Drawdowns (Flex) — money you take increases the balance.
- Repayments — money you pay reduces it.
- Interest — the charge for borrowing, added per the terms.
Seeing them
Your statement lists each movement with its date, so the balance steps logically from one to the next. On Slice, there are no new drawdowns, so the balance simply steps down as you repay. On Flex, it moves both ways as you draw and repay. Because interest is simple and fixed up front, it never moves the balance by a surprise amount — you can always reconcile the change against the schedule.
Your facility is priced with simple interest and the figures fixed up front on your Key Information Sheet, so nothing here changes what you owe by surprise — it only changes how you view, manage or evidence it.
See also: How to see how much of each payment is interest, How to read your statement of account, How to read your repayment schedule.