Comments on: Do you balance your checkbook?

By: Revka

Revka — Tue, 26 May 2009 11:36:20 +0000

I enter expenditures into my checkbook the same day they are made and keep the running balance up to date. I compare my register to my online bank account at least weekly to make sure I haven’t missed anything, and I balance my checkbook at least monthly, usually more often. I always have to have it balance to the penny.

By: kellys

kellys — Thu, 21 May 2009 01:06:32 +0000

I haven’t balanced my checkbook for 15 years. I know this sounds crazy but I check online almost every day and when you have to be frugal, you simply don’t spend what you know you don’t have. I know I have a certain amount every month for frivolous spending like movies and babysitting. I simply don’t spend above what we normally budget for. DH is in charge of the finances so that makes it easy for me not to have to balance the checkbook. I just have to document my deposits.

The only time we get into trouble is when we have an unexpected expense. But that’s why we have overdraft protection from our bank. It’s a heck of a lot cheaper than paying each time a check is overdrawn.

By: Chris Peden

Chris Peden — Tue, 19 May 2009 22:59:00 +0000

I balance my checkbook weekly. I did not do that in college, and I overdrafted my account. Balancing weekly keeps me on top of my spending-I actually save money by challenging myself to see how long I can keep the balance at a certain level.

By: Michelle Gartner

Michelle Gartner — Tue, 19 May 2009 22:57:25 +0000

I worked with a really smart chick who once told me- “I haven’t balanced my checkbook in 6 months…” I about died. I thought she had lost her mind but didn’t say anything.

Personally I use my register and balance my checkbook with my online statement several times a week.

By: Tanya

Tanya — Tue, 19 May 2009 19:17:31 +0000

I have to have my checkbook balanced or I will go crazy!! I think part of the reason is because I worked at a bank for over 4 years. It seemed like most of the people who would overdraw their account had no clue what the balance should be. We always made a point of letting customers know when they opened a new account that they were responsible for balancing it. We would usually refund one overdraft fee/year after that we figured they should know better. It’s also a good point to check your balance because with more things going paperless and automatically coming out sometimes a business might take a fee out twice. If you don’t realize this until months down the road your bank is going to be less sympathetic because you should have caught that sooner if you kept records!

My husband & I have a joint checking but also have our own separate accounts. We call this our “play money” – we usually use our private accounts for frivolous things like movies, CDs or massages. These accounts have saved us from many arguments when it comes to buying stuff like that

By: Courtney

Courtney — Tue, 19 May 2009 19:14:42 +0000

I never balance my checkbook. I don’t even have a “checkbook”.. like the old school balance book with checks. Lol. The only time I use a check is to make my car payment because they don’t do it online.
The only time I ever check the balance of my bank account is on paydays when I deposit my check every 2 weeks. I am fairly frugal and I usually have more coming in than I spend so I know I’ll always have enough money to cover my bills. I don’t find a need to look at it everyday. The only problem with that is if someone got access to my account and stole from it I probably wouldn’t know until that following payday.. but I like to think that won’t happen to me (as everyone does). I’ve been using this method for about 6 years now.

By: Christy

Christy — Tue, 19 May 2009 17:57:49 +0000

I check my account daily to compare it with the checks/debits that I have made for the previous day. I know, it’s not the same as balancing the checkbook, but it works for us. I’m able to keep tabs on my acct without much effort this way.

By: Ggrrl

Ggrrl — Tue, 19 May 2009 17:41:00 +0000

I don’t balance my checkbook and frankly never have since graduating from college. This hasn’t led to financial ruin because I follow a budget. I do, however, review my bank account online every few days to make sure that there haven’t been any odd charges.

That being said, I’m pretty good at numbers and can generally tell you at any given time how much I have in my bank account within $25.00. As I say, the no balancing checkbook method is primarily based on a budget that you adhere to strictly.

By: Jennifer Chait

Jennifer Chait — Tue, 19 May 2009 17:38:15 +0000

Wow, I guess if I had 7K coming in I might get slack too. Especially since I hate shopping. Although, maybe I’d still balance because I’d be moving some of that into other accounts – savings, stocks, etc. It’s good you never bounced a check until 40 – that puts you ahead of most I’d wager although I’m glad you have a system now.

By: Jennifer Chait

Jennifer Chait — Tue, 19 May 2009 17:36:24 +0000

That’s funny. I used Quicken for a while but also had trust issues. I guess I think my human brain is better. Hmmm.