Checkbook registers.

[Mrs. H]

I have carbon checks, solves the memory problem.

Could I tell you my balance if I didn't look at it for a couple days, yes, I could and be close enough. I don't check my account every day. I know what is in there and what we've spent and can give you a round number figure of what is in the account at every given time. I probably don't know the figure to the penny but we keep extra money in our account and we have automatic overdraft protection if needed. In this day and age there simply isn't a NEED to sit down with your statements monthly and balance your account if you have online access. I haven't "balanced" our checking account in over 10 years" and haven't ever had an issue. I can't remember the last time a charge showed up wrong on our account either.

No, there is no NEED to sit down and balance my checking account, but I still do it. For some reason, I enjoy doing it.

 

[LuvCuteBoys]

For me, I know I can tell you, plus or minus $100 what my balance is, but I also have cash reserves that would offset any error, so I'm not worried about balancing to the penny. My partner is the same way as we have seperate accounts, plus savings accounts and other investments we can pull from if we were in a bind.

I think there are a few parts to the balancing bit, first, OCD, some people need to know for no other reason other than it has to perfect. Next, I think is the whole study on whether or not people had enough cash reserves to cover a $1,000 emergency expense and how the percentage is very low over all. If you're accounts have low amounts of cash, a missed item can really throw off your life. I'm sure there are other reasons, but I see these as the two main ones.

What about the bank making a mistake?? Regardless of how much extra money I have in the account, I want to make sure that amount is actually what the bank thinks I have as well.

I honestly don't care if anyone balances their checkbooks. I'm not in a branch anymore, so I don't have to deal with the nitwit anymore who KNOWS he has $750 even though his account shows $10 but can't prove it.


As for how long to keep checks... they're stale-dated after 180 days. The minute it's past 180, that amount gets added back in to my balance because if someone does cash it after that time period, I'm having the bank return that check.

 

[MichelleVW]

What about the bank making a mistake?? Regardless of how much extra money I have in the account, I want to make sure that amount is actually what the bank thinks I have as well.

I honestly don't care if anyone balances their checkbooks. I'm not in a branch anymore, so I don't have to deal with the nitwit anymore who KNOWS he has $750 even though his account shows $10 but can't prove it.


As for how long to keep checks... they're stale-dated after 180 days. The minute it's past 180, that amount gets added back in to my balance because if someone does cash it after that time period, I'm having the bank return that check.

so just because it's written in the check register that would be enough proof?

 

[disneychrista]

so just because it's written in the check register that would be enough proof?

But if it is written in the check register at least there is a place to start. If you can't show why your balance is what it is there is no way for the bank or you to prove your balance is correct vs the bank.

 

[MichelleVW]

But if it is written in the check register at least there is a place to start. If you can't show why your balance is what it is there is no way for the bank or you to prove your balance is correct vs the bank.

I just don't see the difference between that and just printing up your bank statement? But if it makes people happy to write all that stuff down then by all means go ahead, but in my opinion it's not necessary.

 

[disneychrista]

I just don't see the difference between that and just printing up your bank statement? But if it makes people happy to write all that stuff down then by all means go ahead, but in my opinion it's not necessary.

And the same goes for those who choose to not.

Personally, I only have maybe 6 - 8 transactions per month so it is not that big of a deal to "write it down." It also help me budget if I can "project" my balance is going to be later in the month. I keep a running balance in an excel file and I plug in "estimated" transactions, a month or more in advance. I can tell you what my estimated balance will be at the of the month or six weeks from now. Once I have the actual amount I plug that in. It works for me.

 

[tvguy]

I just don't see the difference between that and just printing up your bank statement? But if it makes people happy to write all that stuff down then by all means go ahead, but in my opinion it's not necessary.

You bank statement won't reflect transactions that haven't cleared yet.
I guess different merchants have different ways, or use different third party vendors to process their Debit sales. I can go to Walmart and by the time I get home the debit is on my bank account, but when I bought $1200 worth of tires at the Michelin Tire dealer, it took 6 days to show up. If you don't keep a independent record, and get sloppy, you could have BIG problems just going by the bank statement.

 

[jlewisinsyr]

What about the bank making a mistake?? Regardless of how much extra money I have in the account, I want to make sure that amount is actually what the bank thinks I have as well.

I honestly don't care if anyone balances their checkbooks. I'm not in a branch anymore, so I don't have to deal with the nitwit anymore who KNOWS he has $750 even though his account shows $10 but can't prove it.

I've never had a banking error, ever, the transactions have always been processed as expected. I have maybe 10 consistent transactions that process directly through my bank account a month (home, AMEX, car, insurance and a few others), none of these, even if doubled would leave zero dollars in my account.

It's not like I don't look at my account ever, I just don't balance it, so if my account balance when I check it is different from expectations, I'd have a fairly close range to check. Checking is as easy as pulling down the transactions and seeing what is out of place. Then the same effort would need to apply to review/correct it from the banks perspective.

 

[MichelleVW]

You bank statement won't reflect transactions that haven't cleared yet.
I guess different merchants have different ways, or use different third party vendors to process their Debit sales. I can go to Walmart and by the time I get home the debit is on my bank account, but when I bought $1200 worth of tires at the Michelin Tire dealer, it took 6 days to show up. If you don't keep a independent record, and get sloppy, you could have BIG problems just going by the bank statement.

I guess it's just not a big deal because we don't really ever write checks or use the debit card much. Everything goes on the Disney Visa and get paid off every month. My DH did register his new car the other day and I asked him how he paid for it and he said, "credit card....no wait a check for $490" so for now, I have already mentally subtracted that money and am watching for it to appear on the online account.

I guess if you actually wrote checks or used your debit card a lot you would want to keep track, but since we don't it's not hard to keep up with.

I've never had a banking error, ever, the transactions have always been processed as expected. I have maybe 10 consistent transactions that process directly through my bank account a month (home, AMEX, car, insurance and a few others), none of these, even if doubled would leave zero dollars in my account.

It's not like I don't look at my account ever, I just don't balance it, so if my account balance when I check it is different from expectations, I'd have a fairly close range to check. Checking is as easy as pulling down the transactions and seeing what is out of place. Then the same effort would need to apply to review/correct it from the banks perspective.

Same here.