How do you check your CC/bank account statements?

[erub]

I'm wondering if I'm one of the very few people who do this, at least in my age group. I keep all of my receipts, and when my CC bill comes (I still get paper copies), I carefully match them all up to ensure the amount is correct, then throw the receipts away, before paying the bill (online of course). I have about ~40-50 charges in the average month across 3 cards, so I can't remember the exact amounts (which some of my friends claim that they can). However, all that I've ever found is a waiter giving themselves a couple dollars more tip than I gave, then I have to decide whether to bother disputing it (they take off the whole amount only). Not sure if this is worth the time investment..

For bank accounts, I usually have more of an idea of the running total as it goes along (fewer transactions), so I just match up my ATM receipts/work statements/billpay/checks (if I have any) with the paper one when it comes. Sorta a half-assed balancing. Never found any mistakes.

 

[Brainonska511]

I'm 20. I keep my receipts and match them to my statement at the end of the month. I only have 2 cards to keep track of. I also balance my checkbook (statement vs. what my register says). It takes very little time to do this all, so there is no point in being careless with my money.

 

[Captante]

Almost exclusively online.

I do however keep all my paper statements for 12 months in case of problems.

 

[soydios]

I have an Excel file that I put all my receipts into. If the amounts all match up come statement time, then it's all good. And yes, this file is backed up onto 4 hard drives, and printed out at the end of the year and filed away, along with all the actual paper statements that I keep after receiving them in the mail.

 

[dlx22]

i just go online and pay the vast majority of my bills online, i stopped the paper statements so I wouldn't have to continue to receive them and waste time shredding them (waste of paper anyways). Also saves the cost of stamps.

 

[erub]

Originally posted by: soydios
I have an Excel file that I put all my receipts into. If the amounts all match up come statement time, then it's all good. And yes, this file is backed up onto 4 hard drives, and printed out at the end of the year and filed away, along with all the actual paper statements that I keep after receiving them in the mail.

So do you keep the receipts until the bill comes, and then toss them? Otherwise you have no proof right?

 

[erub]

Originally posted by: dlx22
i just go online and pay the vast majority of my bills online, i stopped the paper statements so I wouldn't have to continue to receive them and waste time shredding them (waste of paper anyways). Also saves the cost of stamps.

OK, but how closely do you match up the CC receipts? Or is it just a glance over?

 

[CraKaJaX]

Originally posted by: Captante
Almost exclusively online.

I do however keep all my paper statements for 12 months in case of problems.

This is what I do.

 

[CRXican]

Online statements only. Don't bother to save receipts. I confirm large purchases on the statement but don't bother to compare everything.

 

[eddiebravo]

i dont spend much or spend at very many places, so i dont save receipts. i just check my statement online fairly often to make sure that there arent any charges that i didnt make, and that those that are mine are in the ballpark of what i remember spending. i dont really care if some jackass waiter took an extra 80 cents or whatever.

 

[MotionMan]

I keep my paper receipts and I either enter them into Quicken and/or match them to the downloaded transactions. Then I file the receipts and keep them for about 24-36 months (I have one or two years of prior years in boxes and the active year in my file cabinet).

I still get paper statements for everything. So, then I run a reconcile before I pay each bill (or, in the case of my checking account, when I get the statement).

MotionMan

 

[erub]

OK so I just finished my one hour ritual of "balancing"..checking the receipts against the statement, adding up the statement. As usual no mistakes, heh. 59 charges on the 3 CCs, another 6 transactions on checking and 6 on savings.

 

[rh71]

I get paper copies of statements because I can sort them and know when to go online and pay them manually. I also keep receipts just in case I see something on statements stick out like a sore thumb but I've never had a case of that.

I keep it to 2 credit cards (both citicard)... 1 is personal and the other is the 50% off card (aka joint with wife).

 

[txrandom]

I scan my receipts and store them on my computer. Currently I don't really do anything with them unless I think I see a problem on my statement. I'm eventually going to write a little application to organizing and tagging the receipts based on store, price, credit card, date, etc.

 

[speg]

I read my CC statement online every few days. If I ever see something out of place I take care it if then and there. Easier than trying to keep track of everything on paper.

 

[kranky]

One thing you can do is adjust your tip amounts so that the sum of all the digits in your total end in a particular number. I use 1.

Let's say my dinner tab is $33.85 with tax. I'm going to tip in the $7 range, so initially my total is $40.85. Sum of the digits is 17. I'll adjust the tip amount to be $7.04 making the total $40.89 so the sum of the digits ends in a 1. If the server tries to add a little extra to the tip, it's practically guaranteed the sum of the digits will no longer end in 1, and I'll spot it easily on the CC statement.

 

[nerp]

I go paperless and pay everything online and I check stuff almost daily so if something is off I'll notice it right away.

One surefire way to avoid problems is to pay in cash. It's harder for someone to bilk you when dealing with cash.

 

[rudeguy]

Originally posted by: kranky
One thing you can do is adjust your tip amounts so that the sum of all the digits in your total end in a particular number. I use 1.

Let's say my dinner tab is $33.85 with tax. I'm going to tip in the $7 range, so initially my total is $40.85. Sum of the digits is 17. I'll adjust the tip amount to be $7.04 making the total $40.89 so the sum of the digits ends in a 1. If the server tries to add a little extra to the tip, it's practically guaranteed the sum of the digits will no longer end in 1, and I'll spot it easily on the CC statement.

Wow

 

[nerp]

Originally posted by: rudeguy

Originally posted by: kranky
One thing you can do is adjust your tip amounts so that the sum of all the digits in your total end in a particular number. I use 1.

Let's say my dinner tab is $33.85 with tax. I'm going to tip in the $7 range, so initially my total is $40.85. Sum of the digits is 17. I'll adjust the tip amount to be $7.04 making the total $40.89 so the sum of the digits ends in a 1. If the server tries to add a little extra to the tip, it's practically guaranteed the sum of the digits will no longer end in 1, and I'll spot it easily on the CC statement.

Wow

Sounds like an engineer, eh?

 

[Miklebud]

Originally posted by: CRXican
Online statements only. Don't bother to save receipts. I confirm large purchases on the statement but don't bother to compare everything.

 

[pontifex]

I just scan it to make sure that there isn't anything on there that shouldn't be and I look at the amounts to make sure it looks right. I don't really use a card all that much so I don't usually have much to compare. most things I buy with a card are online so I can always go back to the site and look at my order history to verify a price.

 

[Elganja]

Originally posted by: CRXican
Online statements only. Don't bother to save receipts. I confirm large purchases on the statement but don't bother to compare everything.

 

[HumblePie]

I do online now as well. Much easier, faster, and more convenient. It literally takes seconds to check online every day or two for all purchases made. I rarely ever write checks at all, so everything is typically done with a card. I don't usually like using my CC as I don't like paying that much in interest, so I typically use my CC for online transactions or for paypal so I can dispute easier if I have problems. Also, this way, if a strange or incorrect charge does occur, it is usually easier to fix sooner rather than waiting weeks for a statement to be mailed.

Because I can do everything online, I've already forgone having statements mailed to me. I just get statements emailed to me.

 

[Kreon]

Originally posted by: txrandom
I scan my receipts and store them on my computer. Currently I don't really do anything with them unless I think I see a problem on my statement. I'm eventually going to write a little application to organizing and tagging the receipts based on store, price, credit card, date, etc.

That's a really good idea. Currently I save all of my receipts in a drawer, and keep them for 12 months after. And I match everything up on the statement. Also do it for my bank statements as well

I will now be scanning my receipts
Thanks

 

[dullard]

Bank statements: I go over every line each month since I have an Excel spreadsheet that does this all for me.

Credit card statements: I quickly glance to make certain that I actually made all of the purchases and that a purchase isn't out of line. But I certainly don't save receipts or check it to the penny. If a fast food lunch item was charged $5.65 instead of $5.56, I don't care. Yes, I was screwed, but my time is worth to much to chase after 9 cents. If it instead read $25.56, I'd know instantly that it was wrong since one fast food meal is never that price (at least where I shop).