"Stupid Tax total for me in 2007 so far is $2,553.45 because of mismanagement of my bank account."                " I never balanced the checkbook"

I think that kind of waste is well worth taking the time to balance the checkbook. If he spent an hour a week, it would have been like paying himself $50 an hour to do this job!

How often do you balance your checkbook and what do you do to make this an easier task?

What an amazing story....  Thanks for sharing that Brandy. 

A few years ago I had 5 checking accounts to balance (both of my parents accounts - they each had to have an account to receive SS checks - they couldn't go into a joint account, 2 different banks for us, and my home-based business.  I always reconcile accounts monthly when the statement comes in and with on-line baking, I can check it anytime it's necessary.  I go nuts if it's just 1 cent off and I'll go back and find the mistake.

My mother was one of those people who never balanced the checkbook - I'm not even sure she knew how - but even if she did, it wasn't in her personality type to do so.  I think small-town banking was partially to blame.  If she had an overdraft the bank would give her a call and transfer funds from their savings to the checking.  She had an "interesting" system that was something of a mess to clear up when I took over their finances.  My father was completely incapable of doing any kind of baking other than to sign the back of a check for a deposit.  He never so much as wrote a check his entire life.  They never had a credit/debit card, either.

~Gingerbread

I just check my accounts on line. I don't get statements from my bank, costs more.  I keep a pretty good eye on things. I only have one automatic payment in the middle of the month and one chq for preschool that comes out of the bank. Don't write many chqs. You have to give post dated cheques to the preschool.  The only mistake I have had was last xmas when the bank made a mistake and deposited $6500 in my acct just before xmas.  checked my acct online on boxing day..surprise! Went to the bank a few days later. funny thing though it was a week later no one had asked about their missing deposit. It was a teller error at a different branch in a different city.

As a future accountant, I don't balance my checkbook... mainly because I don't use it. I always use my debit/credit card. (OK I write one check every 6 months or so when sending something through the mail: recently a contribution to Joyce Meyer's ministry to get stuff). I constantly check (almost daily) at my account online for changes. I also don't get statements on paper, saves time by looking at them online. I pay my bills online (it's rare for me to have to buy a stamp) so it's easier to "balance the book" online.

Dear Luvd_Lioness, Brandy, & All, I have an odd way of "balancing" my checkbook.  If the total in my account upon balancing is MORE than my accounting shows, I don't pay any attention to the overage & keep workign from my own, lower, total.  In that way, I am always safe frmo an overdraft, which is helpful since my balance often goes dodwn to less than $100.  I can't remember the lst time that I had a bank balance that was lower than my own totaling, although noce in a while, we're even.

Yours in Him, Deb

I used to be able to do that... when I had money. 

We have 3 checking accounts and they are balanced with each transaction and reconciled monthly.

I used to reconcile my checking account monthly. Now, I just balance my account after every transaction (written check, ATM or debit card purchase) and check with the bank online the next day. So far, after several years, the bank has $23.77 more than I show in my register each month. Don't know why but it is like this every month. Like Deborahmichelle, I work from my balance so I feel as if I have a cushion. I track each check or debit card purchase that goes out and check online when I have a deposit (automatic or in person). I have lots of auto deductions each month but watch my account closely.

So I don't reconcile my account every month but I would never have a $2000+ problem as I keep track of all my spending in my account each day.

I am treasurer of one a nonprofit organization and I do reconcile the statment/account to the PENNY each month. I get a strange pleasure out of having it balance/reconcile to the penny. And if it doesn't, I spend the time to go back and figure out why. The accountant loves me. :)

OHHHHH....

I'm really crazy on this subject....I just feel like I "need" to check my bank accounts and balance once a week...and I MUST balance to the penny or I gotta find out where the $$ is off...I think this comes from prev. working for Citicorp for 11 years - I got used to looking a my checking account on a daily basis...PLUS I think it helps keep me in a FRUGAL STATE OF MIND and from over-spending!  PS: Hubby on the other hand just goes with what the bank say's he has - so needless to say I keep the  household checkbook under my wing!  

deb in az

I used to handle all the finances in our family, up til about ten years ago...mostly because we hadn't much money, and there was simply no leeway for Hs' somewhat casual accounting habits : ) I balanced each time a statement came in, still tally up all the written checks in the register, as H doesn't, and I like to see how much is in there. He does the banking stuf now, as we have more money and he's gotten a bit more disciplined over the years. He rectifies his records with the bank statement each month. He's 'built in' a 'hidden' $50 because he knows he's likely to go over. His system strikes me as a little silly but everything gets taken care of , so....