do you balance your checkbook?

[memo]

i balance every time a write a check or make a withdrawl/deposit. i pinch my pennies, and since i do it everytime a transaction occurs its alot quicker. <3 minutes because i see the same thing all the time.

 

[Yossarian]

Please stop writing "withdrawl". It's "withdrawal"

 

[Garet Jax]

Originally posted by: Chu

Originally posted by: RossMAN
I don't.

Charge everything I can (except for rent and car payment) to credit cards.

Then using that new fangled "internet banking" I make one lump sum payment to cc every month.

I think this is pretty much the optimal solution if you pay in full every month. Gotta love those CC bonuses

This is very reactive though. You can spend what you want with no regard to what you actually have to spend. How do you make sure you maximize your money (ie. spend only on desired things and do not spend on unnecessary/undesired things)?

 

[Chu]

Originally posted by: Garet Jax

Originally posted by: Chu

Originally posted by: RossMAN
I don't.

Charge everything I can (except for rent and car payment) to credit cards.

Then using that new fangled "internet banking" I make one lump sum payment to cc every month.

I think this is pretty much the optimal solution if you pay in full every month. Gotta love those CC bonuses

This is very retroactive though. You can spend what you want with no regard to what you actually have to spend. How do you make sure you maximize your money (ie. spend only on desired things and do not spend on unnecessary/undesired things)?

Self Control

 

[dullard]

Originally posted by: Yossarian
Please stop writing "withdrawl". It's "withdrawal"

Spelling is not my forte. Consider my posts withdrawan.

 

[Chu]

Oh, just something I thought I would ad. During the summer I do check reconcilation for a company that writes about 17,000 checks a year. Last year, the bank made only 2 errors - they were both transposition errors. One was something like 2000.17 <-> 2000.71, no big deal. The other one was something like $17000 <-> $10700. Not a big deal to a corp -- but for an individual that would hurt!

 

[RossMAN]

Originally posted by: Chu

Originally posted by: Garet Jax

Originally posted by: Chu

Originally posted by: RossMAN
I don't.

Charge everything I can (except for rent and car payment) to credit cards.

Then using that new fangled "internet banking" I make one lump sum payment to cc every month.

I think this is pretty much the optimal solution if you pay in full every month. Gotta love those CC bonuses

This is very retroactive though. You can spend what you want with no regard to what you actually have to spend. How do you make sure you maximize your money (ie. spend only on desired things and do not spend on unnecessary/undesired things)?

Self Control

Self what?

 

[Garet Jax]

Originally posted by: Chu

Self Control

Self control can't work unless you know where and when to apply it. Without this information, how can you make correct decisions?

 

[Garet Jax]

Originally posted by: Chu
Oh, just something I thought I would ad. During the summer I do check reconcilation for a company that writes about 17,000 checks a year. Last year, the bank made only 2 errors - they were both transposition errors. One was something like 2000.17 <-> 2000.71, no big deal. The other one was something like $17000 <-> $10700. Not a big deal to a corp -- but for an individual that would hurt!

These are exactly analogous to the errors the bank made for me. Transposition errors.

 

[randomlinh]

Originally posted by: RossMAN

Originally posted by: Chu

Originally posted by: Garet Jax

Originally posted by: Chu

Originally posted by: RossMAN
I don't.

Charge everything I can (except for rent and car payment) to credit cards.

Then using that new fangled "internet banking" I make one lump sum payment to cc every month.

I think this is pretty much the optimal solution if you pay in full every month. Gotta love those CC bonuses

This is very retroactive though. You can spend what you want with no regard to what you actually have to spend. How do you make sure you maximize your money (ie. spend only on desired things and do not spend on unnecessary/undesired things)?

Self Control

Self what?

For you, it's ban from all hot deals/coupon and related sites. That and the credit card has to be locked up and thrown in a vault that will only open in a life or death situation

 

[Vic]

Yes, I balance to the penny every month. Banks and vendors have, in the past, made errors that I have forced them to correct. Most were small, but one time years ago the BofA did rip me off by $300 bucks and refused to correct their error (which is why they lost my business forever). In addition, I have had my checks posted for slightly different amounts than what I wrote them for (rare and usually just a few pennies off).

Keeping your finances clean and your accounts balanced is just like keeping a clean and tidy house.

 

[whoiswes]

Originally posted by: Garet Jax

Originally posted by: Chu

Self Control

Self control can't work unless you know where and when to apply it. Without this information, how can you make correct decisions?

good lord, we're talking personal finance, not nuclear fusion.

 

[Garet Jax]

Originally posted by: whoiswes

Originally posted by: Garet Jax

Originally posted by: Chu

Self Control

Self control can't work unless you know where and when to apply it. Without this information, how can you make correct decisions?

good lord, we're talking personal finance, not nuclear fusion.

Personal finances are terribly important (especially in the States). Have you tried buying a house or a car with a bad credit rating? Have you tried retiring or paying for children's schooling without enough money? Try it and then come back and talk to me.

 

[RossMAN]

Originally posted by: lnguyen

Originally posted by: RossMAN

Originally posted by: Chu

Originally posted by: Garet Jax

Originally posted by: Chu

Originally posted by: RossMAN
I don't.

Charge everything I can (except for rent and car payment) to credit cards.

Then using that new fangled "internet banking" I make one lump sum payment to cc every month.

I think this is pretty much the optimal solution if you pay in full every month. Gotta love those CC bonuses

This is very retroactive though. You can spend what you want with no regard to what you actually have to spend. How do you make sure you maximize your money (ie. spend only on desired things and do not spend on unnecessary/undesired things)?

Self Control

Self what?

For you, it's ban from all hot deals/coupon and related sites. That and the credit card has to be locked up and thrown in a vault that will only open in a life or death situation

Attempted and failed.

Next!

 

[whoiswes]

Originally posted by: Garet Jax
Personal finances are terribly important (especially in the States). Have you tried buying a house or a car with a bad credit rating? Have you tried retiring or paying for children's schooling without enough money? Try it and then come back and talk to me.

credit score is excellent. already have a house. don't buy new cars.

all i'm trying to say is that many people don't need to balance down to the cent - we can get by just FINE knowing APPROXIMATELY where we stand (i can tell you how much i owe and how much i have to within probably $20 on any of my accounts without looking anything up).

for those who CAN'T manage money and run up multi-thousand dollar credit card balances need to be more like you.

but many of us don't. so please stop preaching like you're the only one who knows anything about finances and that the rest of us who don't balance to the cent every day will end up in the poor house.

 

[pyonir]

Originally posted by: Garet Jax
Personal finances are terribly important (especially in the States). Have you tried buying a house or a car with a bad credit rating? Have you tried retiring or paying for children's schooling without enough money? Try it and then come back and talk to me.

I don't plan on buying a house for a few years...bought a car with less than good credit...won't be retiring for at least 35 years and have no kids and don't plan on having them.

I keep track of my finances fine, and do not keep a written ledger. You sound terribly anal.

 

[Jzero]

Originally posted by: Garet Jax

Originally posted by: Chu

Originally posted by: RossMAN
I don't.

Charge everything I can (except for rent and car payment) to credit cards.

Then using that new fangled "internet banking" I make one lump sum payment to cc every month.

I think this is pretty much the optimal solution if you pay in full every month. Gotta love those CC bonuses

This is very reactive though. You can spend what you want with no regard to what you actually have to spend. How do you make sure you maximize your money (ie. spend only on desired things and do not spend on unnecessary/undesired things)?

I'm having trouble following you. What's the difference between monitoring your finances electronically and monitoring them with paper and pencil? Neither will force you to be frugal if you don't have the discipline to do so...

 

[Garet Jax]

Originally posted by: whoiswes
all i'm trying to say is that many people don't need to balance down to the cent - we can get by just FINE knowing APPROXIMATELY where we stand (i can tell you how much i owe and how much i have to within probably $20 on any of my accounts without looking anything up).

Then unless you keep a large fluff balance in your account, you have been lucky not to have been overdrawn.

 

[Vic]

Originally posted by: whoiswes

Originally posted by: Garet Jax

Originally posted by: Chu
Self Control

Self control can't work unless you know where and when to apply it. Without this information, how can you make correct decisions?

good lord, we're talking personal finance, not nuclear fusion.

No difference IMO. But then again I'm a loan officer. Wanna get fscked over your whole life? Just have bad credit and you will.

 

[randomlinh]

Originally posted by: RossMAN
[
Attempted and failed.

Next!

oh, I don't think you tried hard enough. Let me find the phone line and cable lines that lead to your house......

 

[thawolfman]

Used to balance it every couple months or so based off of my online statements, but it's been 4 months since I last did it and that's just too many damn entries~

 

[RossMAN]

Originally posted by: lnguyen

Originally posted by: RossMAN
[
Attempted and failed.

Next!

oh, I don't think you tried hard enough. Let me find the phone line and cable lines that lead to your house......

You would do that for me?

:heart:

 

[Garet Jax]

Originally posted by: Jzero
I'm having trouble following you. What's the difference between monitoring your finances electronically and monitoring them with paper and pencil?

I use my online banking statement, but I use it in conjunction with the paper check book. If you only use the online statements, then you may forget about checks/pending payments/charges that take time to clear/etc...

If you do this, then you are more likely to overdraw your account.

Originally posted by: Jzero
Neither will force you to be frugal if you don't have the discipline to do so...

Absolutely agree. Frugality is a state of mind.

 

[RossMAN]

Originally posted by: Garet Jax

Originally posted by: Jzero
I'm having trouble following you. What's the difference between monitoring your finances electronically and monitoring them with paper and pencil?

I use my online banking statement, but I use it in conjunction with the paper check book. If you only use the online statements, then you may forget about checks/pending payments/charges that take time to clear/etc...

If you do this, then you are more likely to overdraw your account.

I only write 1 check per month and that's for rent.

 

[Jzero]

Originally posted by: Garet Jax

Originally posted by: Jzero
I'm having trouble following you. What's the difference between monitoring your finances electronically and monitoring them with paper and pencil?

I use my online banking statement, but I use it in conjunction with the paper check book. If you only use the online statements, then you may forget about checks/pending payments/charges that take time to clear/etc...

If you do this, then you are more likely to overdraw your account.

See my bank's on-line banking is pretty much an electronic check register. I enter transactions in it as they go and it displays my register balance and my current balance minus transactions that have not cleared. When a transaction clears, it automatically updates the electronic register accordingly.

No one else's bank does this? Maybe I shouldn't switch banks when I move out of the state the bank is in....I'll just have to open an account locally in case someone writes me a check...