What does it mean to balance your chekbook?

[LordJezo]

Since no one was actualy saying what it ment in the other thread figured I would ask.

 

[Ryan]

Figuring out how much money you have left to spend.

 

[Heisenberg]

Add up all the checks written and deposits and see if it comes out to what the balance in the account is.

 

[LordJezo]

Why does anyone need to do that anymore?

Isn't everything online now and it just shows you your balance with a simple click?

 

[dullard]

I answered it in the other thread.

You add up your money. Then you compare it to the bank's report of how much money is in your bank. If the bank accidentally stole money from you - you have only 30 days from your last statement to report the error. If you don't report it, the bank can legally keep your money.

Moral: balance your checkbook.

 

[Sundog]

Originally posted by: dullard
I answered it in the other thread.

You add up your money. Then you compare it to the bank's report of how much money is in your bank. If the bank accidentally stole money from you - you have only 30 days from your last statement to report the error. If you don't report it, the bank can legally keep your money.

Moral: balance your checkbook.

I answered your post in the other thread also!

 

[dullard]

Originally posted by: LordJezo
Why does anyone need to do that anymore?

Isn't everything online now and it just shows you your balance with a simple click?

Ok, give me $1000. Then ask me in 1 year how much money you have. What if I say $900? How will you know it shouldn't be $1000 if you don't keep track yourself? Never trust the person you lent the money to...

 

[Mallow]

It means knowing how much money you have so you don't write hot checks and get charged $25/check

 

[LordJezo]

Originally posted by: dullard

Originally posted by: LordJezo
Why does anyone need to do that anymore?

Isn't everything online now and it just shows you your balance with a simple click?

Ok, give me $1000. Then ask me in 1 year how much money you have. What if I say $900? How will you know it shouldn't be $1000 if you don't keep track yourself? Never trust the person you lent the money to...

Computers tell me what is supposed to happen. They can do better math then me.

 

[dullard]

I answered your post in the other thread also!

:Q Ouch losing $250 had to hurt.

 

[dullard]

Computers tell me what is supposed to happen. They can do better math then me.

But you are trusting THEIR computers controlled by THEIR employees who are paid to type in numbers as fast as possible (prone to errors). Why not trust your own computer to do the math? Read Sundog's example.

 

[ThaGrandCow]

Originally posted by: rbloedow
Figuring out how much money you have left to spend.

 

[FoBoT]

i don't know, mine is screwed up, even though i use quicken, it's hosed