slo’s MONDAY 1/13 poll - Balancing Your Checkbook 💲📝

[CdnCarrie]

@slo I honestly don't mean this in a bad way but what are you balancing? I just check that my debits for the day cleared and there aren't any strange charges. Deposits for hotels for example are on credit cards so they don't mess with my checking account. And the only check I write is for rent so obviously I know when that clears vs. when I drop it off across the street and how much needs to be in the account to cover it. I get it if you want to keep track of where you're spending and enter it into some kind of tracking system, but just logging it into a paper register makes no sense to me.

I agree.
I don’t understand writing out everything you spend when it’s right on your app.

 

[Turn the Page]

@slo I honestly don't mean this in a bad way but what are you balancing? I just check that my debits for the day cleared and there aren't any strange charges. Deposits for hotels for example are on credit cards so they don't mess with my checking account. And the only check I write is for rent so obviously I know when that clears vs. when I drop it off across the street and how much needs to be in the account to cover it. I get it if you want to keep track of where you're spending and enter it into some kind of tracking system, but just logging it into a paper register makes no sense to me.

We live in a rural area that is somewhat behind the times in some ways. I write cheques for school fundraisers for example, those can take a bit to clear. Also, we have hd problems in the past paying medical bills through online bill pay with our local hospital so medical bills are now generally paid with a paper cheque. Given that DD14 had OT and speech therapy when she was younger and I have some more complex medical needs I write papers cheques semi frequently.

 

[tinkerbellandpeterpan]

We live in a rural area that is somewhat behind the times in some ways. I write cheques for school fundraisers for example, those can take a bit to clear. Also, we have hd problems in the past paying medical bills through online bill pay with our local hospital so medical bills are now generally paid with a paper cheque. Given that DD14 had OT and speech therapy when she was younger and I have some more complex medical needs I write papers cheques semi frequently.

Sure, I understand if you are keeping track of what clears if it takes awhile. I'm not knocking it....everyone needs to do what works for them. I just really don't understand for the double bookkeeping and buying check registers off amazon. I may be quite wrong by you wrote "cheques" which generally means Canada around the DisBoards and we (Americans) are generally reminded how antiquated they are so I'm not sure where you are writing them. But obviously use the system that works best for you. It's no big deal either way.

 

[disykat]

I used to balance my checkbook back in the day. Now I still record checks (the few I write) as a way of keeping track of them, but don't bother with the math. I generally check my bank account daily (because I do a budgeting app) and my parent's accounts (since I've been in charge of them) every few weeks - mainly because I do a basic check of all accounts and investments fairly regularly in case I need to take any actions.

Back in the day, we got bank statements monthly and the checkbook was the way to keep track continually. Now the continual tracking happens online.

 

[Planogirl]

I rarely write checks but I do balance my account. I have a lot of auto payments plus unforeseen expenses from time to time so it helps. It has also helped me to catch fraud quickly.

 

[slo]

@slo I honestly don't mean this in a bad way but what are you balancing? I just check that my debits for the day cleared and there aren't any strange charges. Deposits for hotels for example are on credit cards so they don't mess with my checking account. And the only check I write is for rent so obviously I know when that clears vs. when I drop it off across the street and how much needs to be in the account to cover it. I get it if you want to keep track of where you're spending and enter it into some kind of tracking system, but just logging it into a paper register makes no sense to me.

I still write some checks, so what the bank says in my account right now isn’t true. Recently, I had to write a $500 check to secure my DD21’s acceptance to grad school and it hasn’t been cashed yet. So if I look at my balance online and forgot about that check, I’d be thinking I have $500 more than what I really and truly have. The true balance is always in my check register and highlighted when I know for certain it’s correct.

I also like to make sure that the bills on auto pay is taking out the correct amount and not something different. I also want to make sure these have been done, so I can call right away if something is missing, which has happened before. I’m not the biggest lover of auto pay, but it is good for when we are out of town and if something bad happens to me/us, my DD21 doesn’t have to worry about bills getting paid.

 

[loves to dive]

I do all my banking electronically so nope, don't balance my checkbook. I did back when I actually wrote checks. I have two checking accounts and do check the main one at least once a month (because I pay my CC bill electronically from it). I guess I look at the other one maybe every two months, they want you to have a transaction every once in awhile so I will go into it and move some things around.

 

[_19disnA]

Have never 'balanced' my checkbook if by that you mean to try to 'match' the balance shown by the bank since it takes a few days for checks to show up in your account. I always count the funds are spent once I write the check. At the end of the month, I review the bank statement to look for anything that seems out of the ordinary. Still prefer to write checks for things like utilities and places where the monthly bill isn't a fixed amount.

 

[Praying Colonel]

I used to balance our checkbook and I walked around with a wallet the size of George Costanza's to keep all the receipts. I finally just threw up my hands and check our online account once/week or so to make sure there are no unauthorized charges.