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There is nothing worse when it comes to a having a checking account then one that is constantly in a negative balance. The bank fees can easily add up when other checks are trying to clear your account and plus your bank account can even close.
Learning some simple ways to balance your checking account can help you to monitor your spending habits and also prevent overspending and writing checks that will bounce higher than a NBA basketball on game day.
1. Record all your purchases
After you make a purchase or at the end of the day commit to writing your purchases down that you have made with your check card or checks in your check register located in the back of your check book.
2. View your monthly statements
Once a month, you should be receiving a check account statement in the mail from your bank institution unless you have opted out on your bank mailings. Be sure to open your mail and review all charges with those listed in your check register. This will help you identify any transactions that may not be yours appearing on your statement. This should not take more than 10-15 minutes. If you see an error, be sure to circle or highlight it and contact your bank immediately.
3. Keep your receipts
One great thing that I do is keep my receipts of transactions that I have made with my checking card and even written checks if I am able to obtain them.
Steps to balancing your account recap:
* Enter all transactions each and every day in the check register.
*Open your account statement when it arrives in the mail and review for any erroneous errors.
*Add and subtract items that you may have missed writing down that you may see on your statement.
* Double check any errors that you may see to make sure there is indeed an error. Contact your bank
if needed.
*If your statement ending balance equals the ending balance that you see in your check register, give
your own self a high five! You have successful reviewed and matched all charges.
If you haven’t started balancing your checking account regularly, start today. Remember no one is perfect but you do have to start somewhere. At the very least, you will get a chance to view your own spending habits.
> Please note: I am not a bank representative. Please consult your local bank branch representative for major issues and products with balancing your checking account. The strategies described above have worked well for me.
