Welcome to your new, balanced checkbook!
Balancing a checkbook is a simple way to keep track of your finances throughout the month. If you're on a budget or just trying to save for that next big purchase like a house, car or boat, keeping your checkbook balanced can be the first step in getting a handle on your personal finances!
How to Regularly Balance Your Checkbook
Checking your numbers
How to Regularly Balance Your Checkbook from eHow.com:
Check Your Numbers
Step 1:
Separate your returned checks and ATM withdrawal slips into two piles.
Step 2:
Put your returned checks in numerical order and compare to your ledger book by putting an "X" in the ledger by every figure that matches a canceled check.
Step 3:
Put your ATM withdrawal slips in order by date and compare to your ledger book by putting an "X" in the ledger for every figure that matches an ATM withdrawal.
Step 4:
Make final changes in your ledger after comparing your deposit receipts with your bank statement. Put an "X" on your statement by every figure that matches with a deposit receipt.
Check Your Numbers
Step 1:
Separate your returned checks and ATM withdrawal slips into two piles.
Step 2:
Put your returned checks in numerical order and compare to your ledger book by putting an "X" in the ledger by every figure that matches a canceled check.
Step 3:
Put your ATM withdrawal slips in order by date and compare to your ledger book by putting an "X" in the ledger for every figure that matches an ATM withdrawal.
Step 4:
Make final changes in your ledger after comparing your deposit receipts with your bank statement. Put an "X" on your statement by every figure that matches with a deposit receipt.
How to Regularly Balance Your Checkbook
Calculate Your Balance
How to Regularly Balance Your Checkbook from eHow.com:
Calculate Your Balance
Step 1:
Write down your checkbook's current balance at the top of a piece of paper or on the back of your statement (some banks provide a worksheet on the back of each statement for calculating your balance).
Step 2:
Subtract amounts for uncleared deposits and bank fees, such as monthly fees or those for (gasp!) bounced checks, and subtract from your calculated total.
Step 3:
Add any uncleared checks and the interest you have earned to this figure.
Step 4:
Compare the final figure to your bank statement.
Calculate Your Balance
Step 1:
Write down your checkbook's current balance at the top of a piece of paper or on the back of your statement (some banks provide a worksheet on the back of each statement for calculating your balance).
Step 2:
Subtract amounts for uncleared deposits and bank fees, such as monthly fees or those for (gasp!) bounced checks, and subtract from your calculated total.
Step 3:
Add any uncleared checks and the interest you have earned to this figure.
Step 4:
Compare the final figure to your bank statement.
Expert financial advice on balancing your checkbook
In these videos, Senior Financial Services Representative Summer Dye tells you how to read your bank statements, balance your checkbook, and keep track of your finances.
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Great personal finance links
Some good sites for managing your money
- How to Balance a Checkbook
- The full series of videos featuring a financial expert showing you how to balance your checkbook.
- How to Organize Personal Finances
- A financial expert explains how to set up a budget and get your finances in order so you can stop stressing about money.
- Personal finance videos on YouTube
- Videos from Expert Village about personal finance on YouTube
- How to Achieve a Perfect Credit Score
- Worried about your credit? This article shows you how you can improve your credit score.
- How to Feed a Family on a Budget
- Need to feed your family for cheap? This article gives you step by step instructions on how to cut food costs.
More personal finance how to articles
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SoundFinance wrote...
Balancing your checkbook is a must. If you don't keep track of where the money is going it will be GONE...check here for tips to control your finances.http://www.squidoo.com/soundfinance
Posted April 21, 2008
