Is there any reason I should still balance my checkbook?

[VaKim]

I can look at my account online any time I want and see exactly what is in there and what has gone in and come out. So, is there any real reason I still need to write it all down in my checkbook?

[Denisemomof4]

I don't. I gave that up years ago, however I keep track of every single use of debit. Bab out an hour after I use my card I make sure it has hit my account. If I write a check, which is rare, I check daily until it has cleared. I keep track of all bills I pay online and all automatic bills, each month has its own page. I hilight each entry as it clears.

 

I obsessively watch my account because it has been shut down many times due to someone getting my numbers and using them. My credit union is awesome and catches them EVERY time and within minutes.

[The Girls' Mom]

I use a software program to "balance", and not a paper one.  This helps me keep track of checks that haven't cleared, or pending automatic payments, etc.  My bank balance isn't my true balance.  This keeps me from overspending if I know what I have floating around out there that hasn't hit my account yet.

[maize]

Only if you write a lot of checks to people who take their time about depositing them and you don't have much reserve in your account (so if you forgot a check was still outstanding it might bounce).

[gardenmom5]

even computer software makes mistakes.  dh (finance major, used to work in a bank) doesn't trust the banks numbers.  he is tracks everything himself.  he knows which checks have gone through, and which are still out there.  he also knows when some utility says they haven't received our check - but they've cashed it.

Edited February 27, 2016 by gardenmom5

[kewb]

I no longer balance to the penny the way I used to when younger. With the ability to track my account daily I don't see the need. I do keep track of debits and checks and usually check weekly to make sure everything is lined up.

[VaKim]

Well, as far as actual checks, the only things I have to write them for anymore is my water bill (monthly), property taxes (once a year), and auto insurance (twice a year). I would think as long as I check it regularly online (I check nearly every day), there shouldn't be any reason to write it all down. 

[PrincessMommy]

I don't anymore and haven't for many years.  I use the online banking and keep track that way.  But, I don't write that many checks anymore either.

[purplejackmama]

Nope :)

 

Be free!

[purplejackmama]

even computer software makes mistakes. dh (finance major, used to work in a bank) doesn't trust the banks numbers. he is tracks everything himself. he knows which checks have gone through, and which are still out there. he also knows when some utility says they haven't received our check - but they've cashed it.

Y'all are still writing checks? For what?

[Debbi in Texas]

I do, but it seems like I am the only hold out.

[Guest]

Not if you're like a regular person with one or two incomes and just regular bills to pay.

 

The time to do it, imo, is when you're in the middle of a big, expensive upset, when you have a whole lot going in or out at once, or if you have a business.

 

So for example, during a long,distance move, if you're building or renovating a house or if your income is a bunch of passive-income streams, not a reliable steady paycheck.

 

Otherwise its so easy to just mentally check the bank account website against your life.

[maize]

Y'all are still writing checks? For what?

Some of my kids' extracurricular activities only accept checks. I much prefer online payment but don't always have a choice.

[Scarlett]

Y'all are still writing checks? For what?

Recently

The heat and air repair man

A wedding gift

Child support every month

My hairdresser who still doesn't take debit

 

 

 

A write very few, but when you need to you need to. I just had to reorder checks and realized they had lasted me 4 years.

[SparklyUnicorn]

Y'all are still writing checks? For what?

 

I try hard not to.  Maybe I write 1 check per year for the weirdo who won't take anything else.  Yes...weirdo...get with the program people.  LOL

[SparklyUnicorn]

I didn't balance my checkbook even when I wrote checks.  I would just look it over and I'd know if something didn't look right. 

 

Now I definitely don't because most transactions are instant, and I can look them up on-line anytime.

 

 

[Katy]

nm

Edited July 22, 2016 by Katy

[The Girls' Mom]

Y'all are still writing checks? For what?

Our electric bill, because our podunk utility company can't get with the times.

Our doctor's office, because it is a PIA to pay online with them.

Our monthly co-op tuition, because I have to write each teacher a separate check.

Our church activities for the kids (retreats, etc.)

 

I would LOVE to ditch checks, but haven't been able to yet.  

[purplejackmama]

Our electric bill, because our podunk utility company can't get with the times.

Our doctor's office, because it is a PIA to pay online with them.

Our monthly co-op tuition, because I have to write each teacher a separate check.

Our church activities for the kids (retreats, etc.)

 

I would LOVE to ditch checks, but haven't been able to yet.

Don't you have online banking? They will send the checks.

[SparklyUnicorn]

Don't you have online banking? They will send the checks.

 

Yep and at least mine does not charge for that.  I even use them to send to people. 

[GailV]

 

 

The only time I ever had to call the bank was when the vet accidentally charged us $8400 instead of $84.  She cancelled the charge & charged the correct amount, but it looked like there was a pending charge for a couple of days that left us overdrawn until I faxed in receipts to prove it was a mistake.

 

I had the bank itself misread a check resulting in a similar mistake.  Yikes, it can shake you up when that happens.

[Prairie~Phlox]

Y'all are still writing checks? For what?

 

I write out our tithe check, but that's about it.  I use Quicken and do keep track of everything and reconcile stuff.

[goldberry]

I don't for my personal account, and I'm a bookkeeper for 3 companies.  But I don't write many checks from my personal account.  If I did, I probably would balance.

[SparklyUnicorn]

 

The only time I ever had to call the bank was when the vet accidentally charged us $8400 instead of $84.  She cancelled the charge & charged the correct amount, but it looked like there was a pending charge for a couple of days that left us overdrawn until I faxed in receipts to prove it was a mistake.

 

Wow, that is NOT cool.

[PeachyDoodle]

We write very few paper checks, but our credit union issues them for some bills we pay online to places the bank doesn't have a direct relationship with (e.g., ds5's preschool). Those get put in the mail and don't clear until the institution actually cashes them. So while I don't formally balance the checkbook anymore, I do keep a checking account register, and once or twice a month I will check the balance in there with the balance online, plus/minus any debits/credits I know are outstanding. I can do it quickly since there are usually only a couple. That I way I know I haven't made mistakes, and neither has the credit union.

 

But I am fastidious about our budget and money management, ever since I let dh take it over a few years ago and we got into a real mess. :glare:

[DragonFaerie]

I still keep a checking register and write everything down, not so much for just checks but also for debit charges that do not show up instantaneously.  For example, the place where I get gas most often still takes a couple of days to show up.  And I have one thing that comes out automatically, but I write it down a few days ahead of time just to make sure that the money is there for it.  I like keeping the register, also, because I can write down expenses as they come up rather than by whatever date they come out of the bank and keep track of the "real" balance at all times.  So yeah, I still write it all down and will continue to do so.

[The Girls' Mom]

Don't you have online banking? They will send the checks.

They can't mail checks to co-op, as those get hand delivered each month.  I occasionally use bill pay for the electric bill, but they've been known for sending checks out late.  Really, I've whittled it down as much as feasibly possible, without causing myself extra headache.  

[fairfarmhand]

Because your type A engineering husband's head will explode if it's not balanced to the penny.

[Valley Girl]

I still write everything down and reconcile it against what the bank shows every week or so even though I do pay most of our bills online. If I hadn't, I might not have caught the missing check I gave to co-op or the bill payment the bank made (they had to send a paper check) that never reached its destination or the bank fee that was mistakenly charged to us. Plus, it reduces the worry (for me) about bouncing a check because I always have an accurate balance of what is actually still available in the account. I like being able to see what's cleared online, but I'm not giving up my old-fashioned check register.

 

ETA: Arrgghh. Typos. While I always pay the bills on time, the line SHOULD have read "I do pay most of our bills online."

Edited February 27, 2016 by Reluctant Homeschooler

[need2read]

I don't. I keep our checkbooks in my office next to the computer and I check our balances online several times a week. With online banking I see no reason to balance the checkbook.

 

 

Sent from my iPhone using Tapatalk

[Suzanne in ABQ]

I do, but I apparently write more checks than most people.  I write about 10 a month, and some of them are slow to deposit.  I have many automatic debit transactions, and I like to make sure those happen.  I sit down and write everything down in the checkbook and reconcile my balance with the banks once or twice a month, before I make online payments, just to make sure everything is in agreement.  I probably don't need to, but I like to keep it balanced to the penny, and I do catch an error once in awhile.

[skimomma]

I do but I write a lot of checks.  I use them for many of the things others have mentioned: lessons, paying people back, gifts, our backwards city's water bills, etc....  We also use checks at restaurants and for groceries.  Even gas sometimes.  Checks are less expensive for small businesses to process.  We shop and dine at small businesses so we use a check whenever we don't have cash.

[Laura Corin]

I rarely write cheques. If I do, I email husband giving him the last couple of numbers of the cheque, the amount, and the purpose. Then he notes when it comes through whem he downloads the statements into his tracking programme. It's maybe five cheques a year.

[SKL]

Yes, to make sure there are no mistakes, and to follow up on checks that have not been cashed after you thought they would be.  Also in case you need to investigate something later, it is easier to find a specific payment in a check register than online.

 

I use online banking as a sanity check for my hand reconciliation.

 

I use my hand reconciliation also to flag items that figure into my tax return.

 

The check copies in your online account may not be available indefinitely.  I've had times when I needed to prove a payment I made so long ago that the check copy wasn't online any more.

[SKL]

I also use my paper register to keep track of future payments, such as my online Discover card payment which can be large.  This tells me when I need to transfer money from my savings, which takes a couple of days.  If I waited for the online account to tell me, I'd be in overdraft.

[AmandaVT]

I write checks for our property taxes, twice a year. They'll take a credit/debit card, but charge a fee for it. It's also the only bill I pay in person. I like to get the receipt while I'm there and guarantee that the check won't get lost. And they always have treats on tax day. :-) 

 

Also, if we need a plumber/roof shoveler, that kind of thing. I usually have enough cash on me, but anything over a couple hundred, I write a check. 

 

I don't balance my checkbook anymore. I don't write down every transaction in my register. I don't even know where my register is, to be honest. I use online banking at least once a day to make sure everything clears in a timely fashion and keep an eye out for anything that looks incorrect. 

[carriede]

I do as part of our budgeting work. I write each transaction in a homemade register (one for the credit card, one for checking) and divide out the amount to goes to each specified category (ex, a $100 trip to Target might include food, clothes, gifts, and discretionary).

 

Then I write down the amounts for the particular category in a homemade budget worksheet (ex, $25 at Target in clothing category).

 

It might seem like a lot, but it's easy to reference and both DH and I know where all our money is going. I also use the registers to compare to our statements.

 

I used to use YNAB. I use many of the principles there, but found that if I wasn't WRITING DOWN THE NUMBERS, I had no idea how much money we had in any category and didn't have a sense of our monthly spending.

 

And now there's never the "Honey, what was this $200 from Amazon for?" that inevitably shows up on the credit card..

[maize]

I wrote five checks just this week...

[Annie G]

I balance both my checking accounts as part of my budgeting/spending tracking. I do it more so I can see where the money is going but a lot of folks know that kind of thing without writing it down. I'm just old school. 

 

I also balance mine because I try really hard to come in under budget and when I do I transfer that money into a different account for long term goals.  It works for me. 

 

I write checks for repair guys- we use plumbers, carpenters, painters, etc. who are running their own small businesses and they prefer checks.  Most don't take credit cards.  I also write checks to my grandkids for birthdays and stuff.  Dh writes checks from his account for property taxes and haircuts. And sometimes car repairs and car detailing since we use small shops for those too. 

[G5052]

Balance it? Nope. I just make sure that I recognize everything and that the checks clear. That's it.

Edited May 1, 2016 by G5052

[Dancer_Mom]

Balancing our checking account isn't just about accounting for charges that haven't gone through yet - it is about sticking to our monthly budget. 

  

I balanced my checkbook very closely in college when our funds were much lower and overdrawing was a real possibility.  Then I went through a long period of not doing anything because we would write out a spending plan and had enough in our accounts that we knew we wouldn't overdraw even if we went over our spending allotment.

 

Then we found a budgeting software called YNAB.  Now all of our accounts - checking, savings, and credit cards are in one place.  I put in all charges about 1-2 times per week - credit charges, automatic deductions or payments, checks etc.  I can then have the software program balance it automatically and see if I am missing anything. 

 

I honestly haven't found any credit card or banking mistakes yet but that's not the only reason we do it.  Now that we actually know down to the penny what we are spending on everything, we are doing much better financially (even though I thought we were doing fine before).  I am so glad we decided to start balancing our budget again.

Edited February 28, 2016 by Dancer_Mom

[Carrie12345]

I didn't for a long time, but one of the activities we frequent only takes checks or cash, and I've been writing a lot of checks for co-op activities/field trips. Sometimes things get cashed quickly, sometimes not so much.

 

Yesterday we wound up at a place that doesn't take cards and we didn't have quite enough cash.  I pulled out my check book and there were none left, even with 2 accounts!  I think that's the first time that's ever happened to me!

[J-rap]

I don't, because I usually write only 6 checks/month.  That said, I do keep a close eye on our account online because money is still going out of it!

[mom31257]

I do write some checks, and I don't want to miss anything. We don't keep much of a cushion in our account because we just don't have it.

 

I keep my paper record in a columnar pad book. I categorize my columns by debit card purchases, online bill pay, checks, cash withdrawals, checks/fees, transfers, deposits/credits, and the balance.

 

 

[Mergath]

We don't. The only checks we write are for the monthly rent, and dh checks the online banking to make sure that goes through okay. Most of our bills are withdrawn directly from dh's paycheck before it even hits the checking account, and the rest are paid online. I take out a set amount of cash each month from the atm for groceries and all that stuff.

 

I haven't written a check in so long I don't even know if I remember how. I'll be so glad when they're gone forever. I always seem to get stuck behind elderly women in the grocery store who have to write out a check and then sit and balance their checkbook right there.  :banghead:  Thankfully though, most places around here don't even take checks anymore.

[happypamama]

We have a couple of things that still use actual checks.  I wrote one last week to pay our martial arts studio for something extra; usually I just have my bank send checks to them.  I wrote an actual check for the septic pumping a few months ago because that's standard, that you pay right then when they do the work.  I have written actual checks for auto mechanic work too; they leave the vehicle for me with an invoice, so I write a check and leave it in an envelope in their drop box.  But our current mechanic just leaves the vehicle and sends us a bill later, so we have the bank send him a check.  We also belong to a couple of clubs that require a new application every year, so we send an actual check in with that so that it all stays together.

 

OP, I don't balance my checkbook either.  I keep mental track of the handful of checks I write every year, until I see that they have cleared.  And I download transactions into Quicken so I can track spending via category, but otherwise, no need to balance my checkbook.  

[Guest]

I try hard not to. Maybe I write 1 check per year for the weirdo who won't take anything else. Yes...weirdo...get with the program people. LOL

Here's a slightly OT funny: my dentist is very old-school. His secretary types on a typewriter, he has manilla files for every client, I need to pay by check. So, my son is going to the dental school (cheaper way to get the work done which he needs). Wednesday, the dental,school asked if we could have DS's x-rays emailed to the dental school, to save him having to do xrays over again. I called the dentist to make this request. My dentist does not email! He has no digital xrays and has no way to send them digitally if he did. The dentist at the dental school could not believe it.

[AmandaVT]

Balancing our checking account isn't just about accounting for charges that haven't gone through yet - it is about sticking to our monthly budget. 

  

I balanced my checkbook very closely in college when our funds were much lower and overdrawing was a real possibility.  Then I went through a long period of not doing anything because we would write out a spending plan and had enough in our accounts that we knew we wouldn't overdraw even if we went over our spending allotment.

 

Then we found a budgeting software called YNAB.  Now all of our accounts - checking, savings, and credit cards are in one place.  I put in all charges about 1-2 times per week - credit charges, automatic deductions or payments, checks etc.  I can then have the software program balance it automatically and see if I am missing anything. 

 

I honestly haven't found any credit card or banking mistakes yet but that's not the only reason we do it.  Now that we actually know down to the penny what we are spending on everything, we are doing much better financially (even though I thought we were doing fine before).  I am so glad we decided to start balancing our budget again.

 

We use Mint and love it for keeping track and staying within our set budgets for different categories. I guess I view checkbook balancing and keeping to a budget as totally different parts of managing money. 

 

When I think of balancing my checkbook, I picture looking at my check register and hand writing in each transaction and manually subtracting and adding. When I pull up Mint on my computer, it tells me that I've spent $14 on coffee shops this month and I've only budgeted $15 a month, so if I want to stay within my budget, I know not to get coffee out again until March. 

[abacus2]

I cannot imagine not balancing my checkbook. The very idea makes me twitchy. I caught a bank error after having my first ever checking account for a few weeks, and have caught other problems over the years. I also have most of my bills set up on automatic withdrawal, and if I didn't track that I would have no idea how much money is actually available in my account. I currently use YNAB for all my budget planning and record keeping, including balancing my accounts.

[kitten18]

I haven't balanced a checkbook for about 15 years.

 

I write 2-3 checks a month to the ballet studio and our yard guy.