How to Balance Your Checkbook ? Get a Calculator and Pencil and You are Ready To Go!

Despite how easy it is to balance a checkbook, very few people take the time to do it and the few who do, don't always do it the right way. If you write down in your checkbook ledger what should be deducted and added, you are on the right track ? if not, start there and follow these nine easy steps to a balanced checkbook. Once you are comfortable with these nine steps, it is possible to balance your checkbook each month within 30-45 minutes.

9 Steps

  • Make sure that all deposits, withdrawals (maintenance fees, ATM fees, and automatic payments) are added and subtracted and calculate the balance as of the last transaction made.
  • Keep all check-card receipts, duplicate checks (or returned checks from the bank) and withdrawal slips until you sit down to balance your checkbook.
  • Mark an "x" in your checkbook by each transaction that has gone through the bank. It is easy to do once your statement arrives and you can put all checks in numerical order and easily check them off.
  • Do the same thing with any ATM withdrawals or check-card purchases.
  • Make any adjustments necessary to "true-up" your ledger and comparing deposit slips and purchases/withdrawals. *If you notice any discrepancies between your records and the bank's ? give your bank a call.
  • To calculate your balance write down your checkbook's current balance at the top of a piece of paper (normally the backside of your statement will have a worksheet to complete for this task).
  • Subtract any amounts for un-cleared deposits and bank fees such as monthly fees or for any insufficient funds charges.
  • Add any un-cleared checks and the interest you have earned to this figure.
  • Finally, compare the final figure that you have to your bank statement ? they should match.

With very little effort, it is easy to keep track of expenses and stay out of trouble with your bank. Balancing your checkbook is very important because you will avoid overdraft or insufficient funds fees due to bouncing checks because of not knowing your balance. In addition you will protect your credit and verify that your financial institution has made no mistakes. You'll also be able to keep better track of cash flow and manage your money with far fewer headaches and surprises.

If You Can't Get Your Checkbook to Balance; Try These Tips!

From time to time, everyone records something wrong or adds incorrectly ? and a few easy tricks make it easy to find that error.

  • Verify that the dollar amount of the items entered in your ledger matches with the dollar amount of the items on the bank statement.
  • Compare ledger and deposit slips with your statement.
  • If the error is a whole number, check your addition and subtraction again.
  • If the number is divisible by nine, you may have transposed figures ($63 recorded instead of $36).
  • If the balances still won't match up and you can't find the problem, make an appointment with your bank to figure out the problem. Most banks offer help complimentary or for a nominal fee.

Here are Some Helpful Hints to Stay in Balance

  • Review your checkbook register regularly to ensure that you've entered in all transactions.
  • Enter the name of the payee and the amount in your ledger when you write your check instead of waiting until right before you balance it.
  • Place decimal points exactly where they should be to avoid calculation errors.
  • Keep all ATM, check-card or deposit/withdrawal receipts together until you are ready to balance your checkbook.

Robb Ksiazek is a successful author and publisher for Checks-4U.com. He has researched and written hundreds of articles and can simplify your online search by recommending merchants for the best value and selections in business or personal checks, address labels, rubber stamps and envelopes.

In The News:

pen paper and inkwell


cat break through


Personal Finance ? Why You Should Compare, not Despair

Sorting out your personal finances can be a tricky and... Read More

10 Steps To Improve Your Financial Situation

Here are ten steps you can follow to help improve... Read More

Budgeting Before Buying

With interest rates being at an all-time low, I can... Read More

Saving Money On Gasoline For Your Automobile

The gas that we fill our tanks with every week... Read More

Risky Business: You May Not be as Daring as You Think

I thought I was through with exams when I finished... Read More

Financial Fitness - Are You Exercising the Right Muscles to become Financially Fit?

Are your financial muscles well toned and healthy or flabby... Read More

Save Money on Groceries: Part I

One universal of humanity, no matter who you are or... Read More

Bankruptcy Laws Get Tougher - More Expensive

If you've been thinking about filing for bankruptcy, your best... Read More

How to Attain Your Dreams on a Single Income

If you recently became a single parent and see your... Read More

Vacations Made Easy: Buying a Florida Investment Property

Vacations Made Easy: Buying a Florida Investment PropertyA relaxing beach... Read More

Creating A Household Budget

Creating a budget can be a very difficult task. Although... Read More

7 Simple Ways To Save Money

Each of us knows how to spend money, but do... Read More

Avoiding A Nightmare On Renovation Street

You've decided you want a bigger, better and more desirable... Read More

UK Parents Inactivity Harming Their Children?s Future University and Mortgage Savings

The British government at the beginning of this year officially... Read More

Budgeting: A Tough Love Way to Handle Your Household Budget

Developing and living by a household budget is by far... Read More

Understanding and Controlling Your Finances

Have you ever wondered what it would be like to... Read More

Portfolio Planning can Lead to Irreconcilable Differences

The judge had to ask the question, and we had... Read More

Expenses A ? What Are They And What Can We Do About Them

It is crucial as an individual who is striving for... Read More

The Changing Shape of Family Finances

Super-mumsIt seems that the proof of maternal efforts is no... Read More

Budgeting the Key to being Financially Stable

Single Mother's in need of Financial GuidanceBudgeting is key to... Read More

How to Balance Your Checkbook ? Get a Calculator and Pencil and You are Ready To Go!

Despite how easy it is to balance a checkbook, very... Read More

Money Saving Tips. Maximize Savings on Everyday Items!

Frugal living is more than a lifestyle. It's a passion.... Read More

Money Matters: Strengthen Your Marriage by Putting Finances in Order

Did you know that 43% of all married couples argue... Read More

The Wonderful World Of Address Labels

Ever wonder where address labels come from? AveryŽ is perhaps... Read More

Succession Planning

Have you ever thought about what you are going to... Read More

What Happens if You Die Without Making a Will

If you die without making a Will in the UK,... Read More

Can You Afford Not To Look After Your Personal Finances?

Investing is a subject a lot of people don't want... Read More

Reduce College Debt with Scholarships

Six Scholarship judges were sitting around an oval table. Forms... Read More

Banks Are More Than Just A Place To Park Your Money

If you've been to a shopping mall lately, you've probably... Read More

A Quck Lesson in Saving Money

Did you have a piggy bank when you were a... Read More

Tips To Save Money At The Supermarket

Are you interested in saving money off your grocery bills?... Read More

Check Facts and Figures

Are you a check fanatic? Don't worry, you aren't alone.... Read More

The Joys of Address Labels

Address labels are many things to many different people. If... Read More