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The Stick
 
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Join Date: Dec 2007
Location: Someplace Safe?
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Don't keep a "Check book" ledger of my account(s).
Have several spending accounts.
Only have one account I write checks on and only deposit what is needed to cover a check before I write it. There are some places that will only take cash or check.

Have several checking accounts that I use debit cards.
They are my spending accounts.
Use them to easily track and budget different expenses.
Check the accounts monthly when I deposit to bring balance to match my monthly budget.

Can send a text and get back the balances of all my account.

If I get hacked or have a rouge charge I know when and which card pretty easily. AND they can't ever get more than my monthly budget for that account. The debit cards as set to not allow any credit or overdraw.

My main account gets all deposits and then only transfer to spending accounts.

Started this multiple account thing so I could use one card for my monthly bills that was different than the card for buying things at stores/internet so If the store/internet card was hacked or stolen I wouldn't have to change the card number on all my regular bills. Then I kinda grew to help keep track of my expenses as well.
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Richard aka "The Stick"
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Old 06-13-2018, 04:06 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #21 (permalink)
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Its easy for me to balance a check book as there is nothing in the account!
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Ole Skool - wouldn't have it any other way
Old 06-13-2018, 04:08 AM
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"O"man(are we in trouble)
 
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No, haven't for years!
Old 06-13-2018, 04:31 AM
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Gon fix it with me hammer
 
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No. checks are an antique fraude prone thing that was discontinued in the modern western world of the eu

Im 42. Never had a checkbook
It was stopped before i was 15
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Old 06-13-2018, 05:25 AM
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Get off my lawn!
 
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Yep, constantly.

I started using Quicken back in 1989. I installed it from 5.25 inch floppies. It has been upgraded many times over the years. Every day I download the information from my credit union for my checking and savings account, and my USAA credit card, and USAA investments. I can put the spending into any category I deem it to go to. At the end of the month I click a button that says reconcile, enter the bank statement ending balance, click. Balanced. I know exactly what my spending was on anything. Super easy.

Most of my spending is of course from my debit card. It comes out of my checking account.
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Old 06-13-2018, 05:26 AM
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beancounter
 
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Join Date: Jan 2008
Location: Weehawken, NJ
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whether you make payments via check or not, the process is called: reconciling your account. I do it at least monthly, to make sure no fraudulent charges have hit my accounts (credit cards and cash accounts). Banks are quite good at spotting and notifying these days, but its a habit and...I am a beancounter by trade so I can't help it.

when I first started dating my wife, she had a huge pile of unopened mail and I inquired about the unopened bank statements: "don't you ever check these?" She said: "I just keep track of my balance online" - ummm OK. I suppose she felt pressured so she opened the most recent statement (on top of the mail pile) and there were approximately $3000 of fraudulent ATM withdrawls in Eastern Europe. She promptly notified the bank and got her money back.
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Old 06-13-2018, 05:47 AM
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My wife is an accounting supervisor and she would know within 24 hours if a dollar went missing. Guaranteed.
So no, I have no idea how much is in our checking account and haven't for decades.
Old 06-13-2018, 06:12 AM
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We write/deal with maybe 40 checks a year. Once a year we go through and balance the account. In 20 years we've found 3 errors, none in our favor, discrepancy totaled about $800. Each time we called the bank and they fixed it instantly over the phone. All the errors were missing digits, but one was an extra zero.

So- check error rate seems really high to me.
Old 06-13-2018, 06:20 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #28 (permalink)
non-whiner
 
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No as there is no need. And who the hell writes a check in the checkout line when a debit card takes 30 seconds?

We review the online account monthly and have found some incorrect/fraudulent items and promptly had them removed. The bigger issue is the amount charged for “legitimate” items. I once had an extra $100 added to the tip line at a restaurant. Last week, the checker at our local H-E-B (grocery store) charged us for a case of cantaloupes instead of the one we bought. That was an extra $25. They fixed it, but my wife reviews these receipts regularly.

Frankly, balancing your checkbook in the old fashioned way is like using a buggy whip as an accelerator pedal. Step into the 21st century and apply modern technology.
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Old 06-13-2018, 06:32 AM
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Driver, not Mechanic
 
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To be fair, I still use checks for HOA, piano lessons, dance lessons, water bill... 3 out of 4 accept credit cards, but with a surcharge and/or convenience fees. And I'd like to avoid those as much as possible.

So even in the 21st century, I still need checks...
Old 06-13-2018, 06:39 AM
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I don't balance my checking account but I keep an eye on it weekly via on-line. My credit union system has a feature where I can categorize my expenses (i.e., groceries, utilities, etc..). By categorizing every expense, I am fully aware of all activity on my account. I also pay all my bills via on-line bill pay so all activity is listed on this account.

I guess the only problem that could occur would be if the bank's math was off but I see little risk of that and my activity is small enough to figure this in my head.
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Old 06-13-2018, 06:46 AM
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resident samsquamch
 
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No, I don't balance it, per se, but I am always online (via the banking app on my phone) validating transactions and looking for anything suspicious. Any more, it seems a book of checks lasts me a lifetime.
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-jeff
back in the saddle: '95 993 - just another black C2
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Old 06-13-2018, 06:49 AM
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resident samsquamch
 
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A big part of reconciling a checkbook, was/is looking for the uncashed, outstanding checks and making sure they're still accounted for. Now, with so many electronic transactions, I feel this has become less of an issue, other than validating the withdrawn amounts are correct.
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-jeff
back in the saddle: '95 993 - just another black C2
*SOLD*: '87 930 GP White - heroin would have been a cheaper addiction...
"Ladies and Gentlemen, from Boston Massachusetts, we are Morphine, at your service..." - Mark Sandman (RIP)
Old 06-13-2018, 07:06 AM
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0+0 = 0.

done!
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poof! gone
Old 06-13-2018, 07:07 AM
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resident samsquamch
 
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Quote:
Originally Posted by vash View Post
0+0 = 0.

done!
Hey...you've been peeking at MY checkbook!
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-jeff
back in the saddle: '95 993 - just another black C2
*SOLD*: '87 930 GP White - heroin would have been a cheaper addiction...
"Ladies and Gentlemen, from Boston Massachusetts, we are Morphine, at your service..." - Mark Sandman (RIP)
Old 06-13-2018, 07:12 AM
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FPH Gruppe
 
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Absolutely, I balance it about once a month.
With online banking it's easy and quick, no I don't write checks at the grocery store or really at about any business anymore since my REI credit card gives back $ to spend on new outdoor gear.
I always watch my CC bill like a hawk, I've had fraudulent charges 3 times in the last 5 years.
I'm not paying for your lovely new wench!
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Old 06-13-2018, 08:44 AM
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Quote:
Originally Posted by vash View Post
0+0 = 0.

done!
I like the Billy Preston version better....particularly for the math challenged...

Nuthin' from nuthin' leaves nuthin'...

Haven't had a physical check in ten years, never balanced a checkbook (in the book) ever, back when I did. But I examine statements or keep track online....always have. Now if I can just find my "passbook savings account" ....need to go down to the bank to make a deposit!

Buncha dinosaurs
Old 06-13-2018, 09:02 AM
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Check book? no (hardly use them anymore)

Reconcile my account to a Quicken type software ? Weekly... I like to know what I have where and what's disposable.

you mean not everybody does this ? I should point out I also keep zero credit card debt, so I need to know how much liquidity I have...
Old 06-13-2018, 09:19 AM
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Quote:
Originally Posted by mreid View Post
No as there is no need. And who the hell writes a check in the checkout line when a debit card takes 30 seconds?
Tons of people. And they're probably the same people who can't be bothered to return their shopping cart to the corral. I hate them all. There is a special place in hell for them. The terrorists have won!
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Old 06-13-2018, 09:30 AM
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I keep it all in my head. Definitely in my head.
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Old 06-13-2018, 09:32 AM
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