I don’t balance my checkbook for my personal account or our joint account. Why would I? Over 98% of the transactions are done by debit card or automatic withdrawal. The few remaining bills that are paid by check are the same every month and I know what they are and how much I sent in. Even if a check didn’t go through when it should have, there is still plenty of money in the accounts to cover it later. I just look at the accounts online every few days and look at the statement when it comes. I can’t even imagine the nightmare that would happen if I ever did try to balance my checkbooks for absolutley zero benefit.
I used to balance with every check I wrote, or deposit entered. It only takes a coupla seconds to add or subtract when you’re right there in the registry recording whichever, so why put it off until later?
Now, however, I direct deposit my pay, use a credit card for nearly everything and pay most bills online, so I just don’t bother. I use my checkbook about every three weeks, just for those few bills that can’t be paid online and I check online to see what the current balance is and glance to make sure there aren’t any unauthorized transactions on the account. Works for me.
I’ve always done it, faithfully and to the penny, but you’ve convinced me to stop.
But a couple times my balance has been off, compared to the bank’s figure, by a certain amount. Couldn’t find the reason, but since it was in my favor I just made note of it and let it go. Then the next month, it would be off the same amount but in the bank’s favor. In other words, it had “righted” itself somehow.
Has anyone else ever had that happen?
Actually, i find that online bill paying gives me more control over sending my money out slowly.
I pay my telephone bill online, on the telecom company’s website, and each month i make sure that i pay it on the very last day possible. No worrying about whether a mailed check will arrive on time.
I also pay my gas and electric bill onlline, through my bank’s website. The bank’s billpay system allows me to schedule a day for payment ahead of time. I takes two business days for the transaction to go through, so i always schedule the payments for exactly two business days before the bill is due.