Anonymous
03/14/2017 10:34
Subject: SO: Does anyone still balance checking account?
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.
Anonymous
03/14/2017 10:33
Subject: SO: Does anyone still balance checking account?
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
03/14/2017 10:28
Subject: SO: Does anyone still balance checking account?
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.
I'm 34.
Anonymous
03/14/2017 10:28
Subject: SO: Does anyone still balance checking account?
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.
We always know what we have in the account.
Anonymous
03/14/2017 10:05
Subject: SO: Does anyone still balance checking account?
Yes and I'm in my 30s.
Anonymous
03/14/2017 10:02
Subject: SO: Does anyone still balance checking account?
I haven't in over 15 years. I go through activity every once in awhile.
Anonymous
03/14/2017 10:01
Subject: Re:SO: Does anyone still balance checking account?
Never. I log on and check my bank (checking) account activity, make sure I recognize every transaction. Why do more than that?
Anonymous
03/14/2017 09:48
Subject: SO: Does anyone still balance checking account?
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.
I'm also a CPA, so I like doing it.
Anonymous
03/14/2017 09:45
Subject: SO: Does anyone still balance checking account?
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.
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
03/14/2017 09:42
Subject: Re:SO: Does anyone still balance checking account?
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
03/14/2017 09:40
Subject: SO: Does anyone still balance checking account?
I do it but not to every dollar. +/- 200 is good enough
Anonymous
03/14/2017 09:36
Subject: SO: Does anyone still balance checking account?
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
03/14/2017 09:23
Subject: SO: Does anyone still balance checking account?
Yes. We have caught a lot of banking errors and fee...never in our favor. Do not trust your bank.
Anonymous
03/14/2017 08:51
Subject: SO: Does anyone still balance checking account?
Yes. I like to know. Plenty of money and I am not old. Just precise.
Anonymous
03/14/2017 08:50
Subject: SO: Does anyone still balance checking account?
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?
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?