Do you balance your checkbook?

Mrs.Hizzo · April 2010

Me - no. It seems like such a huge waste of time when I can go online and keep track of my spending that way. This attitude drives my DH insane.

lovemytwoboys · April 2010

Mrs.Hizzo:
It seems like such a huge waste of time when I can go online and keep track of my spending that way.

Hmm I'm not sure what you mean then. I balance my checkbook by going online. I mean I keep up with the checks I write and some debits, but then I always follow up on the bank's website (usually daily or every other day) to make sure I caught all the debits and make sure the balance matches up fairly frequently.

KKM · April 2010

My DH is an accountant and deals with the checkbook. That being said, we use our credit card for most of our spending then pay it off at the end of each month. I am sure we end up spending more than we should this way, but it works well for us.

Parks2Be · April 2010

I would say no because I wrote a check last night for our state taxes and I honestly could not tell you the last time either of us wrote a check before that.

LynnJones · April 2010

Yes I do every month. I track it online everyday just to make sure nothing's weird on there but I definitely balance it every month.

Mrs.Hizzo · April 2010

lovemytwoboys:
Mrs.Hizzo:
It seems like such a huge waste of time when I can go online and keep track of my spending that way.
Hmm I'm not sure what you mean then. I balance my checkbook by going online. I mean I keep up with the checks I write and some debits, but then I always follow up on the bank's website (usually daily or every other day) to make sure I caught all the debits and make sure the balance matches up fairly frequently.

Sorry, I mean, do you use the check register in the back of your checkbook to manually enter check numbers and amounts, and then add/subtract to get your current balance.

lzybeanie · April 2010

Ha! I don't even have a check register...I just carry around the loose checkbook. Then I go on line and stalk my account until it's cashed!!!

cmbrown · April 2010

I use Microsoft Money and I balance that all the time. I put all my bills in there and budget that way. I can see how much money we will have weeks, months ahead if we stick to it. Couldn't live without that program.

LynnJones · April 2010

Mrs.Hizzo:
Sorry, I mean, do you use the check register in the back of your checkbook to manually enter check numbers and amounts, and then add/subtract to get your current balance.

Yes I still use the register to write everything down. Then I go online daily just in case I forgot to write something in it. Then once a month I balance my checkbook to make sure my balance and the bank's balance match (pending any outstanding debits/checks, etc)

lovemytwoboys · April 2010

Mrs.Hizzo:
Sorry, I mean, do you use the check register in the back of your checkbook to manually enter check numbers and amounts, and then add/subtract to get your current balance.

Ah okay!

Yes, I do that. My check register is where I write down all the checks/debits and then that is what I am comparing against what it says online to make sure they match up.

The_Spanish_Inquisition · April 2010

I don't even know where my checkbook is. It's been at least 5 years since either of us wrote a check.

tarebear9891 · April 2010

Ha no. We do online bill payment for everything which doesn't account for when we use our debit card but we still don't keep a check register.

kellyloveszach · April 2010

Yup. I balance every 1st and 15th of the month. I keep all receipts, enter them in and then go through our online statement to make sure they add up and balance. I am a little obsessed with it though. I have got numerous mistakes with restaurants and Discover Card. Discover has cashed checks wrong and I have had waitress miss their tip or take more.

Jessibell · April 2010

Mrs.Hizzo:
Me - no. It seems like such a huge waste of time when I can go online and keep track of my spending that way. This attitude drives my DH insane.

DH and I have a joint checking account and he debits constantly. We'd be in the poor house if I didn't balance it reguarly. Online banking isn't in real time, people hang onto checks, etc.

tarebear9891 · April 2010

Jessibell:
Mrs.Hizzo:
Me - no. It seems like such a huge waste of time when I can go online and keep track of my spending that way. This attitude drives my DH insane.

DH and I have a joint checking account and he debits constantly. We'd be in the poor house if I didn't balance it reguarly. Online banking isn't in real time, people hang onto checks, etc.

But with online banking when you make a payment it automatically takes the money out like it is no longer there. So it balances it for you.

lovemytwoboys · April 2010

cmbrown:
I use Microsoft Money and I balance that all the time. I put all my bills in there and budget that way. I can see how much money we will have weeks, months ahead if we stick to it. Couldn't live without that program.

Did you already know that Microsoft Money is being discontinued?

https://news.cnet.com/8301-13860_3-10261742-56.html

After January, you can continue to use it on your own but will no longer be able to get the automated updates from financial institutions.

eris1995 · April 2010

Yes I do. DH is old school and likes to write out checks and mail bills in.

MrsTotty · April 2010

What is this checkbook you speak of?

true_norskie · April 2010

I balance my "spreadsheet." I have never lost a penny in my 17+ years of having a "checkbook." I go online and track everything in a spreadsheet--which also doubles as our budgeting tool. I'm sure I could go out and buy Quicken or something to make it easier, but the spreadsheet thing has worked for about 10 years now.

One thing that I don't understand about people who don't "balance" their accounts is, how do you know whether you have the funds to cover upcoming expenses? I can't imagine being a few bucks short when the house payment came out the day before we got paid or something...

true_norskie · April 2010

Mrs.Hizzo:
Sorry, I mean, do you use the check register in the back of your checkbook to manually enter check numbers and amounts, and then add/subtract to get your current balance.

Oh good God, NO! I've only seen old people using that in the past several years. I haven't even seen one of ours in years. I think it took well over 2 years to use up the 25 checks from the last book. Everything is online bill pay except for the occasional expense like the Boy Scouts selling a Christmas wreath door-to-door or something.

violetvirgo · April 2010

i don't even have a checkbook. when i need a check i write it through my bank and they send it (i.e. my house keeper, nanny, utlities, etc).

i have alerts on my accounts that if they get below a certain level i'm set up to get emailed and texted, but b/c i e-write checks from my bank, it takes that money into account right then and there so i don't have to worry about it.

and this made me think, "there's an app for that". lol.

cmbrown · April 2010

lovemytwoboys:

cmbrown:
I use Microsoft Money and I balance that all the time. I put all my bills in there and budget that way. I can see how much money we will have weeks, months ahead if we stick to it. Couldn't live without that program.

Did you already know that Microsoft Money is being discontinued?

https://news.cnet.com/8301-13860_3-10261742-56.html

After January, you can continue to use it on your own but will no longer be able to get the automated updates from financial institutions.

I did not know that. I never use the updates anyway, I do it myself. But that is interesting. I use Money 2004, bc I like it more then the newer versions, hope it keeps working forever!!!

jkelly41 · April 2010

Mrs.Hizzo:
lovemytwoboys:

Mrs.Hizzo:
It seems like such a huge waste of time when I can go online and keep track of my spending that way.

Hmm I'm not sure what you mean then. I balance my checkbook by going online. I mean I keep up with the checks I write and some debits, but then I always follow up on the bank's website (usually daily or every other day) to make sure I caught all the debits and make sure the balance matches up fairly frequently.

Sorry, I mean, do you use the check register in the back of your checkbook to manually enter check numbers and amounts, and then add/subtract to get your current balance.

Yes, I use that and go on line to balance it but keep record on the register. DH wants me to do everything on line, but this works well for me and since I'm the one doing it....

Jen748 · April 2010

Yes, I do our checkbook and Quicken. I am slightly money anal though.

GrowingFamily · April 2010

Yes, after every transaction- checks, debits, deposits or withdrawls. I always have the most up-to-date balance in the check register. I have always done this since I opended the acct 15 years ago!

TimingisEverything · April 2010

I do. It can take several weeks for a check to cash and it won't show it online until it is cashed while I write it in my book the minute I write the check to know that that money is gone. Plus, I like to catch any mistakes by double checking it online.

miss.jess · April 2010

I don't even have a checkbook! lol DH does but my name isn't on the checks so I can't use them.

hj_1235 · April 2010

true_norskie:

I balance my "spreadsheet." I have never lost a penny in my 17+ years of having a "checkbook." I go online and track everything in a spreadsheet--which also doubles as our budgeting tool. I'm sure I could go out and buy Quicken or something to make it easier, but the spreadsheet thing has worked for about 10 years now.

One thing that I don't understand about people who don't "balance" their accounts is, how do you know whether you have the funds to cover upcoming expenses? I can't imagine being a few bucks short when the house payment came out the day before we got paid or something...

We don't "balance" anything....it works ok for us although I'm sure we've been ripped off for a few dollars here and there like the pp said about restraunts, etc. I just don't think it's worth my time when the bank basically does it for me. We are starting to get the idea of budgeting since I only work part-time since DD and we have had to cut down on some spending, so I am paying more attention.

I just watch online what is going out. I know if I have the funds available or not because I know when the bills are due and when we get paid. We also don't go under a certain amount in our checking acct. So we wouldn't ever not have enough in there to not cover a bill if I forgot or something.

Rubygirl · April 2010

Mrs.Hizzo:
Me - no. It seems like such a huge waste of time when I can go online and keep track of my spending that way. This attitude drives my DH insane.

Yep. I'm the only person I know aside from my mother who does this. Most people my age seem to do what you do - track online.

ETA: I agree - some folks hold on to checks forever, so I deduct it immediately from my balance even if the bank doesn't. As far as I'm concerned, that money is gone. Now if you never have to write checks, then online is probably fine. But I still have to write them for Avon, Scholastic book orders, mag subscriptions, one-off charitable donations, Schwan's food delivery, a couple of bills that if I did online require 10 day lead times, and our church and day care (though day care FINALLY started automatic billing this week).

mittensonkittens · April 2010

I use my credit card to pay for just about everything, so I just balance my checkbook once a month before my credit card bill is due. This drives my DH crazy, so we have separate accounts and he can do whatever he wants with his account. We both transfer money to our joint account (which he manages) every paycheck to pay the household bills. This system works great for us.

blueshirt2003 · April 2010

I go online to balance my check book. Yes, I definitely balance it!

mieuxmieux · April 2010

I use an excel spreadsheet to balance my checkbook, and I use my online banking to verify when things post. When I didn't balance my check book, I would forget about small purchases or checks that I wrote and that never turns out well.

erin.m · April 2010

KKM:
My DH is an accountant and deals with the checkbook. That being said, we use our credit card for most of our spending then pay it off at the end of each month. I am sure we end up spending more than we should this way, but it works well for us.

This, and yes I balance the checkbook, but it doesn't take much.

lisaNov3 · April 2010

violetvirgo:

i don't even have a checkbook. when i need a check i write it through my bank and they send it (i.e. my house keeper, nanny, utlities, etc).

i have alerts on my accounts that if they get below a certain level i'm set up to get emailed and texted, but b/c i e-write checks from my bank, it takes that money into account right then and there so i don't have to worry about it.

and this made me think, "there's an app for that". lol.

oh man.. i feel so outdated!! i need to get into this bank writing check thing..

i actually balance in a checkbook (by HAND!!! lol) & online.. pretty much daily

Jaimers375 · April 2010

true_norskie:
One thing that I don't understand about people who don't "balance" their accounts is, how do you know whether you have the funds to cover upcoming expenses? I can't imagine being a few bucks short when the house payment came out the day before we got paid or something...

Our mortgage payment is taken out the last day of the month automatically. I get direct deposit that goes in usually on the 29th of the month, I know the money will be there. The mortgage gets paid with the 2nd half of the month paycheck, all other bills get paid with the first half of the month paycheck, it's really not that hard.

momtoRaegan041008 · April 2010

Yes, every month down to the penny. I only use online banking to transfer money from one account to the other if needed. Otherwise I am still old fashioned and I write checks. I don't have a debit card either.

TheFannins729 · April 2010

yes, I can tell you right now how much my real balance is, not what is showing in our bank account. i pay all the bills on the 1st and the 15th and most are online, but they don't all come out of our account at that time. There is always a HUGE difference between our online balance and our register balance.

HelenaHndbskt · April 2010

true_norskie:

I balance my "spreadsheet." I have never lost a penny in my 17+ years of having a "checkbook." I go online and track everything in a spreadsheet--which also doubles as our budgeting tool. I'm sure I could go out and buy Quicken or something to make it easier, but the spreadsheet thing has worked for about 10 years now.

One thing that I don't understand about people who don't "balance" their accounts is, how do you know whether you have the funds to cover upcoming expenses? I can't imagine being a few bucks short when the house payment came out the day before we got paid or something...

This is what I do as well - my spreadsheet is my check register, for what it's worth. It's an excellent budgeting tool as well - I can see ahead to upcoming payments due and if I have to move funds from savings then I can do so. I use it to track our savings accounts as well, and right now we're budgeted through December 2011. This system works very well for us, and as mulva33 said in a previous post I stalk our online accounts so much I should probably have a restraining order. I also get texts and emails for all account activity, so I can immediately update our budget at any time.

fIowerchild · April 2010

true_norskie:

One thing that I don't understand about people who don't "balance" their accounts is, how do you know whether you have the funds to cover upcoming expenses? I can't imagine being a few bucks short when the house payment came out the day before we got paid or something...

I know I'll have the funds because I'm careful to never let my checking account balance to dip below a certain amount. I know no matter what, I'll always have at least $x amount in my account. I don't like to worry about money so this is a system that works for me.

JulyFiveBride · April 2010

I keep a spreadsheet to keep track of all the money going in and out of our checking account and check to make sure it matches my online banking. I like the spreadsheet because I keep more detailed records of what I bought than just "I spent $50 at Target." for our budget. Like if I bought $30 in clothes for DD and $20 on random stuff for me, I write down that $30 was from DD's clothing budget, $20 was from my blow money.

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