(Closed) How often do you reconcile your checking account?

posted 8 years ago in Money
  • poll: How often do you reconcile your bank accounts?

    Monthly to the penny.

    Monthly with a margin of error.

    Every 2-3 months.

    Every 4-6 months

    Twice a year

    Once a year

    When the bank says there's a problem

    Not sure

    Never

  • Post # 33
    Member
    4369 posts
    Honey bee

    I never balance check books. We don’t use a lot of checks, so I know what has gone out and I can find it on my online checking. 

    Post # 35
    Member
    1915 posts
    Buzzing bee
    • Wedding: April 2012

    My checkbook is balanced to the penny.  Has been since I got the account at 18.  I can’t imagine doing it any other way.  Even when I was in my 20s and only used my debit card, I would balance even if I bought a coffee from Starbucks.  Now that I have the mint app, I also balance the cash that I spend, although I find this a little harder to keep track of.  I’m super anal about money though.  I prefer to know how much I have at all times.

    Post # 36
    Member
    2738 posts
    Sugar bee

    I think I’ve written three checks in the last three years. I actually pay bills online. If I need to send money to a friend or for a birthday, the bank sends it. I ‘reconcile’ my banking by logging on every day or two and know how much I spent at the grocery store or the nail salon etc so that’s I know the bank is not nickle and diming me. I should say that I’ve never balanced a checkbook even before online bill pay because well, I never did have enough money to monitor. I remember my best friend from college calling me about a week after she gave me a check to go cash it. I was like ‘uh, how did you know I haven’t deposited it?’ and she told me she checked with the bank. Uh oh! She’s now an auditor/CPA!

    Post # 37
    Member
    3771 posts
    Honey bee
    • Wedding: October 2012

    I can’t remember the last time I wrote a check. But I do check my bank accounts daily and calculate out what I can and can’t spend that week/month.

    Post # 38
    Member
    6255 posts
    Bee Keeper
    • Wedding: March 2014

    Honestly? I don’t. I put everything on the credit card and hope for the best. So far, I’ve never maxed out, but I pay it off in part or in full each month…

    Post # 39
    Member
    5982 posts
    Bee Keeper
    • Wedding: June 2010

    I never record spending manually. DH uses Mint.com to make sure we stay under our budget but we have enough in our accounts that we are no where near having to worry about overages or anything. We both work our butts off and have worked really hard to get where we are……if I want something, I buy it. 

    Now, when I was a broke college student I wrote down everything I bought but I didnt have any money so I had to keep it to the dollar.

    My goal was to not have to worry about money within 5 years of graduating. I hit that goal and I am pretty proud of it 😀

    Post # 41
    Member
    4369 posts
    Honey bee

    View original reply
    @Loribeth:  What are you going to do? Any way to get that money owed to you?

    Post # 42
    Member
    1676 posts
    Bumble bee
    • Wedding: June 2011

    We also use online banking to check our accounts. It’s faster and more efficient (I think). We check it pretty much everyday, so there is no need for extra reconciliation. I’m also lucky in the fact that DH pretty much handles this. I check occasionally to see if I need to move money to my account for groceries, gas, etc., but I don’t spend much on my card day to day so it’s not usually needed. DH pays with his card when we go out, so I don’t really keep up with it. 

    Post # 45
    Member
    13094 posts
    Honey Beekeeper
    • Wedding: July 2010

    I used to do it monthly to the penny.

    Now we have multiple things direct deposited in there and multiple things the auto-pay from there, that I don’t keep exact track of it.  We always have multiple thousands of dollars more than we need in there so it doesn’t go negative (it is also tied to our savings account as a double precaution).

    I do keep track of every physical check written to it though so that I can make sure that they have all been deposited/cleared.

    Post # 46
    Member
    923 posts
    Busy bee
    • Wedding: January 2013

    I do it a few times a week using online banking.  I created an Excel spreadsheet that balances the account and forecasts income and expendetures until the end of 2013.  Yes, I’m an geek. 

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