SO: Does anyone still balance checking account?

[Anonymous]

A memory of my childhood was my mom "balancing" her checking account once a week. She was very precise about what checks had cleared, which were outstanding, and how much money she had down to the penny.

As an adult, I never do this. I just try to keep $5k in my primary account and generally keep an eye on what big items go out.

Is this generational, or related to the fact that my mom's budget was tighter?

[Anonymous]

Yes. I like to know. Plenty of money and I am not old. Just precise.

[Anonymous]

Yes. We have caught a lot of banking errors and fee...never in our favor. Do not trust your bank.

[Anonymous]

I do in the sense that every week I log on and check debits and which checks have cleared. I don't however exactly match the balance to the statement like my parents did. I have auto draft on my checking account so I don't worry about going over.

[Anonymous]

I do it but not to every dollar. +/- 200 is good enough

[Anonymous]

Of course. Not a checkbook but I log in daily to make sure correct amounts and charges are posting and to check the balance.

[Anonymous]

Sometimes.

Our low point is often around the 13th of the month. Some months I need to keep track fairly well. Some months I know we're fine.

Our 'base' balance is 1250, but we plan for cash flow to dip below that for certain bills.

It's our goal to bring our 'base' up to 8-10k. Then we would never concern ourselves with cash flow. BUT we that would slow down our debt reduction.

[Anonymous]

Yes but I do it on the computer. Just want to make sure nothing shady is going on.
I'm also a CPA, so I like doing it.

[Anonymous]

Never. I log on and check my bank (checking) account activity, make sure I recognize every transaction. Why do more than that?

[Anonymous]

I haven't in over 15 years. I go through activity every once in awhile.

[Anonymous]

Yes and I'm in my 30s.

[Anonymous]

I rectify the checkbook every week if not more frequently. We record every transaction in the check book ledger and I am teaching my 13 yr old to do the same. When the statement comes, DH or I check off every transaction in the checkbook and make sure the numbers are correct. Sometimes there is a check that hasn't cleared for a long time or a double entry. There are also things that need to be added in or subtracted (i.e. a bit of interest or the insurance bill that comes out automatically without a paper notice).

We always know what we have in the account.

[Anonymous]

I think this is one of those things that grown ups just do: banks make mistakes, people forget to cash checks, merchants double bill. Why wouldn't you keep track of this just because the interface has become digitized?

I'm 34.

[Anonymous]

Anonymous wrote:I rectify the checkbook every week if not more frequently. We record every transaction in the check book ledger and I am teaching my 13 yr old to do the same. When the statement comes, DH or I check off every transaction in the checkbook and make sure the numbers are correct. Sometimes there is a check that hasn't cleared for a long time or a double entry. There are also things that need to be added in or subtracted (i.e. a bit of interest or the insurance bill that comes out automatically without a paper notice).

We always know what we have in the account.

Reconcile. Not rectify.

[Anonymous]

Yes, every week. Some is online, but I prefer to use cash and not debit/credit cards. Many things to keep an eye on, payments from checking that are automatic, automatic credit card payments for tuition and sports, bills. So I do both, regular checking and all the other payments. Easy for me to spend more if I don't keep an eye on it all.