(Closed) Do you still balance your checkbook by hand every month?

posted 5 years ago in Money
Post # 16
Member
1916 posts
Buzzing bee
  • Wedding: April 2012

I balance my checkbook meticulously.  I prefer it because some people don’t cash checks right away and I set some bills to pay later in the month.  I also prefer to balance my checkbook down to only a couple hundred dollars after I pay all of my bills and put whatever is extra into my Roth IRA or savings.  I put most of my bills on my cc, which I pay off each month, so the only thing I’m really debiting is my rent check, savings, cc bills and whatever cash I take out for the week.

When I was younger, I would only use my debit card and would write down each transaction.  The discipline helped me figure out if it was worth it to spend the money.

  • This reply was modified 5 years ago by  .
Post # 17
Member
398 posts
Helper bee
  • Wedding: December 2014 - Norton Country Club

Nope… Fiance does and it gives him a sense of relief to see when things are paid.  I won’t take that from him. LOL

I do keep an eye on my bank reports and jump on anything weird though.  My info was “potentially compromised” in the Target and Home Depot hacks, so I’m actively monitoring it. 

Post # 18
Member
9172 posts
Buzzing Beekeeper
  • Wedding: October 2013

yes i still do.  i bill pay, so i don’t really write checks anymore but occassionally i do.  and once a month, i balance to make sure everything was cashed, deposited, etc correctly and matches.  i one time did catch a bank error so i am happy that i have this backup checking system in place.

Post # 19
Member
7778 posts
Bumble Beekeeper
  • Wedding: October 2010

I check the balances online almost daily- to catch any fraud or inaccuracies. When I was in 5th grade (1987), school actually gave us fake check books and taught us how to balance them- on paper of course. I can appreciate that they were trying to impart a real life skill, but it’s amusing how quickly things can become obsolete.

Post # 20
Member
1914 posts
Buzzing bee
  • Wedding: September 2014 - Dallas, TX

No, i use mint.com and online banking. I barely write checks anyway. I like that mint.com allows me to see all my accounts on one place. 

Post # 21
Member
316 posts
Helper bee

I do!  I don’t use the checkbook register, but I have my own sheet I use that I keep in a binder a long with a formed sheet detaling what bills we have, when they are due, and what the minimum payment is.  I also keep sheets monthly of what our total income was, how much we payed on our bills, and what debt we have leftover.  

I keep a running balance and I take all of our receipts and deduct them every few days and then compare it to what our online balance shows.  I like to know where our money goes, where we can cut back, and the such.  It helps.  

I am also one of those that does not use automatic bill pay.  I like to pay it and put it in my register as I pay it.  My paychecks come in the mail rather than direct deposit and the such, so it is better to just pay them at my own free will since the date I will receive my paychecks is unreliable.  

I completely understand why people don’t bother with balancing checkbooks these days though.  I only started a year or two ago when my boyfriend and I started needing to save up for new cars and a down payment on a house.  

Post # 22
Member
9445 posts
Buzzing Beekeeper
  • Wedding: August 2012

We have almost everything set up to autopay. I haven’t balanced a checkbook in years.

Post # 23
Member
5112 posts
Bee Keeper
  • Wedding: December 2014

I never balance my checkbook, mostly because I never write checks or pay anything directly from my bank account besides bills, so I’m not worried about a check or debit charge taking a while to show up. I also never use autopay. I like to set exactly when a payment is going to come out each month and I like to make sure there is enough money in the account to cover it when it is going to come out. I do have a very detailed google calendar with the due dates for all of the bills so I never forget to pay anything.

Post # 24
Member
4892 posts
Honey bee
  • Wedding: October 2014

I used to every month once I got my statement in the mail. I’d sit down and check everything off and make sure every check/debit/deposit was accounted for.

Now, I just go online (or the web app) and check my balance. I know when I pay certain bills and use that as a guidelines for what has been taken out, or what will be taken out.

Post # 25
Member
7905 posts
Bumble Beekeeper

I used to balance my checkbook, but now I just refer to my online banking documentation. I’m pretty frugal, so I know I won’t go into the red. I use my online banking to pay bills, but I personally review the bills before paying so I know how much I’m paying.

Post # 26
Member
18628 posts
Honey Beekeeper
  • Wedding: June 2009

I don’t balance a checkbook by hand but I have Quicken for all our accounts.  That way I can keep track of what we are spending where and keep us from going over on expenses in a given month.

We put extra money for the month into savings, so I have to keep track of what was spent in order to determine that (just looking at what went out doesn’t work because my husband travels for work and has to pay expenses and be reimbursed later).

Post # 27
Member
3036 posts
Sugar bee
  • Wedding: May 2015 - Walnut Hill Bed & Breakfast

I’m the same for the most part. I just check things periodically and keep track. However, like him I don’t like everything to come out automatic though. I just like to see my deposit and then pay. I get paid once a month so I just go on and schedule everything that same day. 

Post # 28
Member
920 posts
Busy bee
  • Wedding: June 2015

HECK NO. 😉

 

I have a pretty detailed spreadsheet I use to track all our expenses and payments, but I never balance the account on a monthly basis. 

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