Do You Balance Your Checkbook Each Month?

For the last seven years, since Michael turned sixty-five, I've been making my husband work a small General ledger, and we balance the bank statement as soon as we get it. After my last hospitalization, I realized how vulnerable he was financially, so I pushes him to learn how to watch and care for the funds.
 

I have used online checking for over 20 years and have no need to manually balance my checking every month because it's done automatically online and I can print out a monthly statement as well as year end statement for tax purposes. I have never had a problem with on line banking.
 
I have used online checking for over 20 years and have no need to manually balance my checking every month because it's done automatically online and I can print out a monthly statement as well as year end statement for tax purposes. I have never had a problem with on line banking. Lon
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Lon, If you understand your finances that is all you need to do. In 47 years off marriage, with both of us working, I was the one that made sure there was money available whenever a particular need arose. My husband is the sort that if you give him $20., and tell him that's all he has to feed himself for two days, he would spend $19.99 on dinner with no thought of the nexted day. He needed to see how it all worked, he might be by himself one day. :wave:
 
Ina said:
Lon, If you understand your finances that is all you need to do. In 47 years off marriage, with both of us working, I was the one that made sure there was money available whenever a particular need arose. My husband is the sort that if you give him $20., and tell him that's all he has to feed himself for two days, he would spend $19.99 on dinner with no thought of the nexted day. He needed to see how it all worked, he might be by himself one day. :wave:
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My husband took care of all the financial stuff all the years we were working until we retired. He still makes the big decisions, and is very good with money, does our taxes, etc. But I've taken over some small things like the checkbook, he kind of guides me in what's needed to be considered moneywise. Like you say Ina, we may be alone someday, and folks like me and your hubby have to be able to take over if necessary.
 
I was a full-charge company bookkeeper for years .. and after doing the books for so long, both at work and at home ..
when I retired, I gave up the manuel stuff at home too, even though I love working with numbers.

Everything went online, no more checks/checkbooks/mail to worry about. ..I let them take over.. never a problem.
I do still keep a monthly spread sheet to glance at for the total picture, but that's all.
 
I have been somewhat of a poor bookkeeper over the years. But I do balance it monthly now. So many things are set up as automatic drafts, I just go in once a month to log into my check book. Then make a transfer deposit to keep a pad in the checking acct.
 
I only write about 4 or 5 checks/ year, so it's a very simple task. I either pay cash for purchases
and or things are automatically deducted from another account. Never had a problem.
 
my wife used to write one amount to the store and put a diff amount in the check book so i gave up
 
Lon said:
I have used online checking for over 20 years and have no need to manually balance my checking every month because it's done automatically online and I can print out a monthly statement as well as year end statement for tax purposes. I have never had a problem with on line banking.
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Exactly. I check online daily; there's no need to even print out the statement. I haven't ever had a problem with online banking, either.
 
just a word of advice. this is not a secure site. so best not to mention online banking. eyes are watching
 
Hi Janessa, and welcome to the forum! Thanks for bringing your life experience and common sense along! Maybe you can keep us in line. :)
 
Lon said:
I have used online checking for over 20 years and have no need to manually balance my checking every month because it's done automatically online and I can print out a monthly statement as well as year end statement for tax purposes. I have never had a problem with on line banking.
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Exactly! I do the exact same thing. I have never had an issue. I look at the bank ledger online everyday to verify the deposits and withdrawals and credits for returns and if everything is in sync, I move on. I have yet to see a mistake.
 
The chequebook is virtually obsolete here - few traders accept it now.
Do you mean, do I pay off my bills every month? Answer - Yes. I pay for major items using a credit card, get the monthly statement on-line and pay it on-line.
I can check the payments and withdrawls on-line any time I want.
 
I do online banking but I pay my bills manually. Wife uses a debit card for everything. I write a few checks each month paying the bills and occasionally use a credit card for online purchases. I balance my bank account several times a month. When payday comes around, if there is a balance in my account (and there always is; just a matter of how much) I transfer it to a savings account. May not be the best way but it works great for me.
 

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