Do You Balance Your Checkbook?

[Crazy Hakim]

I have high expectations of those who frequent this board that it will be a slam-dunk of yes, but I just want your honest answer with no flames intended.

 

[ducklite]

No because it's all done online. I do review it weekly for any discrepencies. Because we rarely use the Check Card for purchases, 99% of the transactions are deposits and payments. Pretty easy to keep track of.

Anne

 

[twinklebug]

I also do all my banking online with the occasional paper check going out. I keep an excel spreadsheet which I compare to my online balances daily & can see when anything is off.

Some people prefer Quicken but as a programmer I find their software too... dumb? and cumbersome

 

[neatokimmo]

I don't at all. All my utilities are set through auto pay (and are the same every month) and I use my CC for all other purchases. I don't let my CC go over a certain amount, I use it for gas, groceries and fun. That is also set for auto pay and some months I have negative balance.

 

[writersblock42]

I voted with some other frequency because I do check it online and make sure that the checking account has money and what has done out...but a paper balance-nope. We normally just use the checking account for paying bills and some other stuff.

 

[delmar411]

never. I don't use a checkbook on a regular basis. I use online banking combined with a very detailed budget. I know exactly where all my money goes. DH doesn't spend any so that helps a lot.

 

[KarenAylwood]

Never. I use my debit card for almost everything (except gas and hotel stays) so keeping track would be just too much time and effort for me. I check my account online at least every day, if not multiple times a day.

 

[hemispheredancer]

Nope. I know there is always money in there and I know what is paid and when.

 

[threekidsandasheltie]

nope, hardly ever. I just check the bank daily online see what has cleared and what has not. We hardly write checks and we do its for only for; rent, electric bill, dh's hospital bill, and an occasional check for something at the kids school.

 

[nephthys43]

i went with "at a different frequency, since i keep it balanced daily. everytime i spend anything, it goes in my checkbook.

 

[sandy6879]

I'm another who banks completely online. That balance gets checked once a day or every other day. I know instantly if something is off. All my bills are scheduled to get paid ahead of time as well.

 

[TinkerbellMama]

I have high expectations of those who frequent this board that it will be a slam-dunk of yes, but I just want your honest answer with no flames intended.

No, I don't! Never! It works out so much better that way. When I used to balance it, not only were there frequent errors (forgetting to write down a debit purchase, etc.), but I also knew just how much money was left to waste. Now I pay bills out of each paycheck and don't pay any attention to what is already in my account. We have a lot more money and a lot fewer headaches!

 

[SuzanneSLO]

Based on the other responses, I think I may have a different definition of "balancing your checkbook" than others. I consider that I have balanced my checkbook each time I compare what I think I have in my account with what my bank think's I have. Under this defintiion, I usually balance my checkbook by downloading information into Quicken about 4 times a month.

I can't imagine ever having enough money that I would have the luxury of not having to regularly balance my checkbook. Even if all our payments could be made on a credit card (just think of the miles you could earn!), I would still need to keep track of the various deposits made into our accounts.

I also balance all of our investment accounts regularly to track dividends and interest.

-- Suzanne

 

[NY Disney fan]

Does anyone *really* balance their checkbooks anymore?? I mean this is the age of the debit card. If you don't balance your account *daily*, you are not managing your money properly.

 

[Tinkmom]

Maybe I'm not understanding, but it sounds like some who think they balance their checkbook daily are actually not balancing their accounts. Many look at the charges regularly to be sure they are accurate, but "balancing your checkbook" is a specific procedure where you take the balance of your checkbook and reflected balance of your bank account at the moment and using debits/credits (e.g. outstanding checks) to make certain the numbers do exactly equal.

It sounds like there are those who voted that they balance, when actually they do like what seems like the majority, and just check their charges regularly, without actually performing a full checking account balance......

 

[keishashadow]

I know exactly where all my money goes. DH doesn't spend any so that helps a lot.

not any?

Since my DH has an annoying habit of spending money , i do have to "feed" the checking account a few hundred $ every few months. I'm lucky if i balance twice a year. Just look @ the balance right before payday & it gives me a good ballpark figure.

I think everyone is on a budget of sorts, depending on income/fixed expenses; no matter how much money you bring home.

Our budget is a loosey-goosey affair, as long as the bills are paid & we manage to put a meager amt of $ into savings, we're satisfied.

Vacations are a necessary line item in our budget, just like anyother bill

 

[rhonhod]

Nope!! Everything I do is over the internet. I've only written 27 checks in the 6 years we've been with our current bank. The only checks I write are for the kids school trips.

 

[Toby'sFriend]

I download our transactions into Quicken Monday thru Friday and the software automatically balances it after the download.

 

[ameraumi]

I balance it every couple of days. I am anal right now about our money!

 

[iNTeNSeBLue98]

I pay most bills online or automatically and we use our debit cards often. That said, I reconcile my "checkbook" (Excel spreadsheet) frequently, usually at least once a day. The balance on my checking spreadsheet is added to any cash on hand and then has to match the amount on my budget spreadsheet.

At least once a week I verify that the checking balance and the online banking match. I don't look at the paper statements. They go in the basket to be filed without opening.