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I absolutely balance a checkbook. On a typical month I have maybe 13 debits coming out of my checking, 6 of which are credit card payments that vary every month. It's the only way to ensure that I have neither a. insufficient funds to cover a payment or b. an excess amount of funds in an account that pays zero interest. If you folks can come up with a smarter way than this simple old school solution, I am all ears. And don't say "there are apps...", because it's basically the same idea and I bet you I can do it quicker jotting down with a pen and paper log. I get why some may prefer electronic methods, but with the 1 minute and 30 seconds it takes me every two weeks to update my register I don't see any reason to change any time soon.
I absolutely balance a checkbook. On a typical month I have maybe 13 debits coming out of my checking, 6 of which are credit card payments that vary every month. It's the only way to ensure that I have neither a. insufficient funds to cover a payment or b. an excess amount of funds in an account that pays zero interest. If you folks can come up with a smarter way than this simple old school solution, I am all ears. And don't say "there are apps...", because it's basically the same idea and I bet you I can do it quicker jotting down with a pen and paper log. I get why some may prefer electronic methods, but with the 1 minute and 30 seconds it takes me every two weeks to update my register I don't see any reason to change any time soon.
Your register is just what you *think* it should be. If you think there is money in your account but the bank thinks there is not, any incoming check is going to bounce. The better way, in fact only way to be sure, is check the balance electronically. You can set alerts to text you every time there is a transaction and to text you your daily balance. Then you know where you stand every single day not just every two weeks.
Your register is just what you *think* it should be. If you think there is money in your account but the bank thinks there is not, any incoming check is going to bounce. The better way, in fact only way to be sure, is check the balance electronically. You can set alerts to text you every time there is a transaction and to text you your daily balance. Then you know where you stand every single day not just every two weeks.
Of course I'm also going to check my balance every day or so to make sure everything matches up or there's no unpleasant surprises; but that doesn't answer my question as to how let's say on the 11th I have a payment to my Chase Freedom card scheduled for $238.94, as well as an outstanding check to the cleaning lady for $120...how would I know that on that day I'll need to have $358.94 in my checking without some kind of ledger or log? Maybe you guys are a bunch of Rain Mans here who just "know", but that's definitely not me!
Being retired we live off the money in our checking account …there is always more money then we would spend so trying to track uncleared expenses has never ever been an issue .
Perhaps for those living hand to mouth it is a problem dealing with uncleared expenses , but not something we ever had to worry about…
I get alerts anytime money is deducted so I don’t even need to see a daily balance..
I'm 59 and I haven't "balanced" my checkbook in decades. Everything is online now; why would I do it?
I can see my balance any time I wish. I do not tend to make unplanned purchases so there has never been a chance of being "overdrawn". Seems like a waste of time to me.
Being retired we live off the money in our checking account …there is always more money then we would spend so trying to track uncleared expenses has never ever been an issue .
Perhaps for those living hand to mouth it is a problem dealing with uncleared expenses , but not something we ever had to worry about…
I get alerts anytime money is deducted so I don’t even need to see a daily balance..
Does your checking pay interest? To me it seems crazy to have money just sitting in a checking account when it could be earning "something" but to each their own.
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