Post # 1
My husband is pretty meticulous about money and I don’t know if the fact that I don’t still do this is normal or not! Ever since banking has been accessible online I haven’t used the register in my checkbook to track everything. It just seems silly when we live in a world of direct deposit and online payments and I can go online whenever I need to and check that everything looks right. My husband still writes down every transaction and while he does pay bills online, he never has them come out automatically. He wants to actively check each bill and set it to get paid each month while I prefer to have everything paid automatically so I don’t accidentally forget about making the payment on time. I obviously keep an eye on things periodically so I know that there aren’t unaccounted charges on my credit card or something.
So, in this day and age do you still think it’s necessary to write down all the deposits and payments and balance the checkbook? If you and your partner differ in your methods of banking as we do how do you handle life with shared accounts?
Post # 2
LibrarianBride: I neeeeeever balance my checkbook for your same reason. Everything is in real time now. I DO check off my checks when they clear just to make sure, but I write so few checks. Now my husband (we have separate accounts) balances his checkbook every 10 minutes. I like to tease him.
Post # 3
i do once a week because my husbands check gets direct deposit and he asks me every friday night how much is in there
Post # 4
When I got a checking account in high school, I had online banking set up. I remember my dad teaching me how to balance a checkbook. I think I kept up with balancing it for a couple of months and stopped after I realized that online banking was way more useful. DH also doesn’t write down anything in the checkbook. We have shared banking accounts, so we can see everything that is happening with our accounts in real time.
Post # 5
I didn’t even have a chequebook for the longest time, so no. We look over the transactions on our account about once/month.
Post # 6
My husband will check and match up our receipts to our bank accounts each month (his own and the joint). I only check online for my own personal account. I will notice if something is out of wack but I’m not meticulous about checking.
Post # 7
LibrarianBride: I haven’t used a paper checkbook (for balancing) in ages. I use an excel spreadsheet and online banking. I also have a note in my phone for things that will be coming out but haven’t gone through the bank like checks and things.
I check it about every other day or after purchases while at work.
Post # 8
I balance my checkbook several times a week. My boyfriend’s several times a week. I have an excel spreadsheet to track deposits, debits, and due dates. I’ve been doing this for 4 years. I’ve boughtaid off a new vehicle, bought a second new vehicle, paid off $30,000 in debt, maxed out my IRA yearly, and put several thousand in my kids 529s yearly.
It’s part of budgeting. If you know where your money is going and how much you really have, then you can properly plan for the future.
Post # 9
I’m like you. I see no need to tediously track every purchase and payment when online banking does it for me. We have direct deposit for our paychecks, most bills set up for auto payments and automatic transfers into various savings accounts each week. I check online banking every few days to confirm that the accounts are nice and fluffy but that’s about the extent of my manual banking. I think that as long as you periodically check in to make sure that nothing is amiss, there’s really no need to be all old school with it.
Post # 10
I never balance a checkbook. I don’t even have one. I have checks but rarely ever use one. I watch the accounts closely tho, I check them almost daily just to keep an eye on things to make sure no one has stolen our numbers, just looking for out of the ordinary stuff.
Post # 11
What’s a checkbook?? 😛
We have every thing on autopay. I check once in a while if I see a high bill just to make sure everything is legit, but that’s about it.
Post # 12
AB Bride: I was thinking the same thing I am pretty sure I haven’t wrote a check for probably 8 years
Post # 13
Ok, it’s a bit of a relief that I’m not the only one not checking this stuff all the time. We hardly write checks anymore either outside of paying our neighbor back for shared condo expenses (so maybe 3-4 times a year). That’s pretty much the only thing I think makes sense to write down just so we don’t forget about it if she takes a while to deposit it. Anything paid for by credit or debit card or online is going to show up pretty quickly and it just doesn’t make sense to me to write it down elsewhere as well.
Post # 14
On a side note, I personally do not like auto pay and refuse it unless it guarantees an interest discount or something like that. Hubby is the same way, he actually does write alot of checks, whereas I pay everything online.
But I do not want anybody having auto access to my accounts. I will pay my bills when I am good n ready. Always well before the due date of course. But I refuse to give away control of my own money. When my bills get paid is my business and I absolutely never have late fees. Those piss me off more than anything.
Post # 15
My Darling Husband use to balance his check book when he was paying bills and only when he was paying bills. So he would spend money the rest of the month and not know anything until he got online twice a month and then paid bills. I take care of everything now, and while I have a spreadsheet and Mint and online banking, I don’t balance a checkbook. I have about five other failsafes, and some that send me texts messages when something happens. I think it’s much faster and more complete than working on balancinging every month.