phaedrus

I was wondering how many people balance their checkbooks.

I've not balanced mine in a couple years, instead I just do a quick check of my monthly bank statement to verify everything. I've had no problems yet.

MSD

I've written two checks in my life. The rest is check card (which i check on the computer.)

The two checks total $231.79, and I can keep a mental note of how much is in my checking acount to within 10 cents. Right now, it's been at $5.89 for around 6 months, with the exception of teh second week of November, during which the balance was $6.19 for about two and a half hours.

Yalaynia

I dont write checks for anything, I have automatic withdraw and anything that isnt on auto withdraw I pay directly out of my account on so theres really no reason to keep a running total or a check book because I can access my bank account 24/7.

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sillygirl

When there's money in my account, I usually update my checkbook every time I take money out of my account or put money in... it makes things WAAAAAAAY easier for me!

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skysooner

I run 30 to 40 transactions a month through my debit card, online bill paying or paper checks. I generally balance every 4 to 5 weeks as it is so easy to miss writing down a transaction. I have also caught things where I mailed a check or cash was electronically transferred without being credited, etc. It is a good idea to always keep up with your finances.

ratbastid

lurkette actually does the work of it, but it's pretty easy...

We use Microsoft Money (because it came on that computer. We'd rather be using Quicken, but we're too cheap to buy it). We download a transaction list from the bank, import it into Money, add anything in the checkbook that hasn't cleared yet, and ta-da it's balanced.

Now, strictly speaking, this isn't balancing the checkbook. That requires reconciling YOUR record of transactions against the BANK's record of transactions. We're not really keeping our own record anymore, we're just trusting the bank's. Which works out ok in 99.9% of cases, I think.

Dano069

I balance the checkbook constantly. I can't help it. My folks owned their own business and I was a teller at one time in my life. Had to balance my drawer every day. I tend to be pretty anal about the checkbook.

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Sho Nuff

I have one checking account for paying bills and saving money so I balance constantly. The remainder of the cash I put in a debit card account and spend it liberally.

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Averett

Every single time I write a check, use my debit card, or anything like that I keep track of it.

I also use Microsoft Money, but that's mostly to remind myself of when things need to be paid.

I get my check directly deposited, and whenever I make any kind of transation I take out my little notebook and make note of it. This way, I know what money I really have, compared to what the bank says. Recently I had about $400 less than what the bank thought because of a few checks that hadn't cleared. If I spent that $400 I would have been quite screwed....

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Cycler

Used to do it all the time. I feel I need to do it again, been a little while. Next week I get paid, time to reconcile.

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BentNotTwisted

I haven't balanced a checkbook in years. I print my own checks. The forms the checks print on has a stub to write the date, amount, etc. Every few days my wife enters the checks into Quicken. Then, once a month I get to reconcile the bank statement to our Quicken data when it arrives.
BTW, ratbastid, if you do your taxes on the computer you can get a free copy of the full version of Quicken via rebate. Just buy Intuit's Turbo Tax for 2003. I got my original copy of Quicken back in 2000 this way and have upgraded it each year for free since then because Intuit offers the Quicken rebate every tax season.

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denim

How can you balance a checkbook more often than you get a bank statement?

I do it once a month since I kinda need the statement to make sure my transaction entries didn't miss anything. It's also good for situations where I entered a transaction into the wrong account, or with the wrong amount.

:::OshnSoul:::

Well, I don't care sometimes to see where we're at with money- I'm content that way. I don't want to let money issues get to me.

gilada

Do it when the monthly statement comes in, using quickbooks. Easy as pie.

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Sparhawk

Never balanced my checkbook, but I don't write more than 3-4 checks a year.

But I always know exactly how much I have in my savings and checking accounts, and check them 4-5 times a week (sometimes less, sometimes more depending on how much shopping I did that week).

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phaedrus

If you keep up to date records of all transactions. Every time you use you debt card, write a check, or make a deposit, etc... You write it down and keep a running tally, then I count that as constantly balancing your checkbook.
If on the other hand, you only update your records when you reconcile them with your bank statement, then you balance your checkbook monthly (assuming that is how frequent your bank sends you statements.)

Cynthetiq

nope. i used to make the bank VP of customer service do it for me.. then I got married and the wife does it.

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BentNotTwisted

I believe you are thinking of reconciling a bank statement as opposed to the original question about balancing the check book which means subtracting written checks from your current balance.

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forseti-6

I never balance my checkbook. The majority of withdrawals and deposits are done online, so I don't bother. Even when I used to write a lot of checks I didn't both. The only two checks I ever write are rent and parking. Both pretty straight forward.

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denim

General usage has the two meaning the same thing. Doing the reconciling between your records and the banks is known as "balancing" the books. I keep my files up-to-date multiple times each month, since I hate having to do it all when the statement comes.

jwells777

Honestly, I would really wish that the check would die a quick and painful death. It is almost invariably accompanied by the need to use the postal system to mail in a bill to some antiquated company that does not realize that electronic payment methods could save their company millions.

denim

The problem I've got with electronic payment is that there's no proof I paid them if their computer software fucks up. Until I have a way to prove I paid them, I won't be using anything other than paper checks. It's coming, but it's not here yet. I don't trust companies enough to believe that they'll never screw up that way.

lucidity

I work in the billing industry, and I know what happens when people don't pay close enough attention to their balances, etc. I always keep track of purchases, checks & withdrawls. I check my online account daily to make sure my balances are correct and to make sure there is no fraud on my account. This diligence has paid off, I caught an unauthorized charge on my card last year-the very day it went though. Someone got a hold of my debit card and was purchasing male porn. Bastids.

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fnord

I use a palm pilot (sharp zaurus actually) and a fairly decent accounting program.
I had a girlfriend that liked to help me spend $ at a variable rate. Usually more than I had at the time, so I started watching it much more carefully. After the inital setup, it only takes a couple minutes a week, and I have a much better idea where things sit.

wannabenakid247

no just check bank balance online most days

Rodney

No, just check the bank balance and the statement once a month. Personally I'm cheap, and the wife tells me about every purchase she makes that isn't food or household times. So we rarely get into trouble... and on those occasions, maybe twice in ten years, the bank covers the overage, sends us a stern letter, and charges us $15. Good bank.

Prince

We use the old Microsoft Money, version 97 or something like that. My wife balances her account monthly, which is the main account, while I balance my own....whenever.

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ladyadmin

I came across some problems two years ago with my bank balance never adding up correctly with the numbers I was getting. Since then, I tackle the book daily and so far I've been in perfect step with my money.

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kulrblind

I just keep track of everything on a spreadsheet, usually. With the advent of online bill payments, it's not too hard to keep track of account debits.

/edited for retarded typos/

punx1325

I never do it, I have online banking so it is easier for me to keep track of my banking online. With my ATM and credit card it is so hard to follow and balance everything. I always have a good idea of what I have in the bank.

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pendragon1122

I also use online banking and just find it unpractical to balance the check book. My bank pretty much does it for me online. Its a big help.

Stare At The Sun

Nope...but i know *about* how much cash i have. Besides, i don't use physical checks, i use my card. So, thats what those ministatments are for

txlovely

Ditto here - so much easier. I have probably written two checks in the last year.

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Cynthetiq

actually some banks will issue a paper check for you to pay bills that don't have electronic links. I used to send myself a check every week just for fun!

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sapiens

I always considered "balancing the checkbook" to be reconciling your check record with your monthly statement. I never do that. (My wife does it). I always enter withdrawls and deposits into the checkbook. If that's "balancing the checkbook", I do it all the time.