OT:Balancing the checkbook

  1. In this day and age of everything going almost paperless, do you find that you balance your check book less and just rely on the on line statements, or do you still go thorugh the hassle of balancing it and double checking it?

    My husband seems to favor to just check on line and keep track of checks we wrote...but since the debit charges show almost immediately he thinks it's better than trying to keep up with all the receipts to log. He's also talked to a bunch of people that are doing the same thing and I'm just a little surprised by it, b/c I'm always afraid of the bank making a mistake etc... I happily turned over that aspect to him b/c I have enough extra on my plate with studying, and I never did like doing any of the financial stuff, he doesn't mind so it works well...until I question his methods

    So how do you all handle it?

  2. 37 Comments

  3. by   tookewlandy
    I depend on both online and balancing my checkbook, i wouldn't rely solely on the online because it takes a while for some things to post to your account, especially chekcs and if you purchase something on the weekend, and you can overdraw your account. So that is why i always write everything down in my checkbook and i always check online to make sure payments have been made, check balance and compare things to my checkbook and vice versa.
  4. by   Marie_LPN, RN
    I rely on both, and compare the two down to the penny.
  5. by   DutchgirlRN
    I have not balanced my checkbook for at least 10 years. I don't keep a register at all. I keep up with my balance daily on the internet. I use my Debit card religiously, and pay all of my bills online. I write maybe 6 checks per year. This makes my life sooo much easier!! Plus I don't have to purchase any stamps!
  6. by   mercyteapot
    I never did balance my checkbook and now with online banking, I really don't.
  7. by   DutchgirlRN
    Quote from mercyteapot
    I never did balance my checkbook and now with online banking, I really don't.
    Once again...Great minds think alike !!

    Happy Happy Teapot! It's almost our birthday time once again!
    Last edit by DutchgirlRN on Aug 29, '06
  8. by   TheCommuter
    I haven't balanced my checkbook since August 2003! I just cross my fingers and hope no one is siphoning money from my account (other than me). :uhoh21:
  9. by   Katnip
    I don't balance my checkbook. Rarely do I even write a check these days. I do almost everything online or use my debit card.

    On the rare occasion that I write a check I write it down, stick it on my monitor and when I check my balance online, I write that down on the sticky to remind myself that there's an outstanding check.
  10. by   Roy Fokker
    Father insisted on seeing accounts (atleast once in three months).

    I better keep my checkbook balanced -- but these days, it's a little hard when you end up using debit cards and the like. I've caught HSBC make a few screw ups with my account.

    But I admit, I'm not as regular as I should be... :imbar
  11. by   suebird3
    I use the good old paper trail. Helped when the State 'lost' the Income Tax payment a few years ago.

  12. by   JaxiaKiley
    I always hated balancing my checkbook. Even before the days of online banking, I'd just round the numbers up and keep a running total in my head. Since I rounded up, I'd usually have extra that provided a nice cushion

    Now, I have auto pay set up for all my bills. I use my credit card to buy everything so I can collect frequent flyer miles. Then I have an auto payment set up to pay it off at the end of every month. It works for me and requires no additional effort on my part. Low maint is a goooooood thing
  13. by   UM Review RN
    I check online about once or twice a day to make sure I'm not accidentally double-billed for anything. I check off the transactions in my checkbook that hit for that day or week.

    I also have Splash Money on my PDA, which keeps a balance identical to my checkbook, so it double checks my math.

    I don't know if that's your idea of balanced, but it is pretty much how I keep my ducks in a row.

    I admit, the PDA program is my lifesaver. It does the math so much better than I do.
  14. by   Roy Fokker
    Quote from Angie O'Plasty, RN
    I admit, the PDA program is my lifesaver. It does the math so much better than I do.
    The formula to use in a spreadsheet is pretty simple.

    Say you have three column:
    • Debit = Column A
    • Credit = Column B
    • Balance = Column C
    Now, the math is simple ::: Take value from previous row for Colum C, Add current row for column B and then subtract Column A from the total --- to give you current balance.

    So for example: (rats, HTML coding is off)

    ___A _____B _____ C
    1________$10____ $10
    2 _$5 ___ $8_____ $13
    3 _$10___ $25

    (try to imagine the thing without the dashes LOL)

    To find the balance for C3, the forumula would be (C2+B3)-A3
    You can maintain your own spreadsheet using Excel at home if anyone wants, I'll send the Excel file template and you cans et it up for your own use..
    Last edit by Roy Fokker on Aug 29, '06