Keeping tabs on your debits and credits is the foundation of a healthy budget. Final Thoughts on Balancing Your Checking Accountīalancing your checking account is about more than just making sure you weren’t overcharged at the grocery store. So it’s a good idea to balance your checking account about every two weeks, or even daily. ![]() Nowadays, online and mobile banking allows us to send and receive money and buy things from all over the world everyday. They would get out their checkbook register and compare the transactions shown on their statement with the income and expenses they had recorded. In the past, people used to balance their checking account once a month, when their paper statement arrived in the mail. Shorter intervals will make it easier for you to go back and find the source of any imbalance. The more frequently you balance your account, the better. How Often Should I Balance My Checking Account? An open-source spreadsheet means you can share it with family members and everyone can stay updated. To get both sides of the story, you need to keep your own records and not just see what it says in your app. Alerts will also give you a heads up on any fraudulent activity. Get notified when a pending transaction goes through or a check clears, so you can add it to your running balance and avoid being overdrawn. Note any errors and pending transactions-and don’t forget to account for any checks you might have written recently. Log in each night and scan your incoming and outgoing transactions.
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