Learning to Balance a Checkbook
- 1). Keep your checkbook nearby at all times. List information about a check in your register as soon as you write the check. Do not write checks and then try to summarize all of your checks in the register at the end of the week or month—this strategy will complicate your checkbook balancing efforts.
- 2). Withdraw any cash funds you'll need each day from an ATM or your bank branch, and then record that transaction immediately in your checkbook register as "Cash Out." If you process individual transactions on a check card or make multiple withdrawals, you will need to record those too, but keep in mind that many of these will make it more difficult to manage your checkbook.
- 3). Record additions to the account as soon as you make them. So for instance, if you go to a bank and deposit $100, bring your checkbook along with you and record that transaction. If you receive direct deposits, pull out your checkbook on the same day that you receive the electronic payment.
- 4). View your most recent account statement, which contains your current balance and a listing of transactions for that statement period. Compare the balance showing in your current check register with the statement balance—if they match, that means the checkbook is already balanced.
- 5). Scan the list of checks presented against your account in the statement. Place a check mark next to all checks listed in your register that have hit your account already.
- 6). Take note of the checks that are still outstanding. Subtract those amounts from the balance showing on your statement to balance your checkbook.
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