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One of the problems many people have when it comes to personal finance is keeping their checkbook balanced. Not only does it take organization to keep track of all your purchases and income, but constant calculations are a must. If you find it difficult to keep track of your checkbook, here are some incredible easy tips.
Use Online Banking
Perhaps the best way to balance your checkbook is with online banking. Online banking has grown in leaps and bounds over the last decade and now almost every bank offers it as a complimentary service. With online banking you can instantly view your recent transactions- making it extremely easy to keep track of items you have purchased, checks that have been cashed and money that has been deposited into your bank account.
Since most banks also offer debit cards, using online banking for all your purchases- whether through check or debit is extremely simple. Even if you are not tech savvy, keeping track of all your expenses and balancing your checkbook using online banking is extremely intuitive.
If you are not tech savvy or don’t have easy access to a computer with an internet connection, your phone can make it extremely easy to balance your checkbook. Just as new transactions are available online, using your phone; you can access the same information. While not visual, all your banking info is literally just a phone call away and only takes seconds to figure out your account balance, any new purchases that have been debited and money that has been deposited into your account. Phone banking is usually free and most banks even offer a toll free number for your convenience.
If you own a small business or if your finances are more complicated than the average individual or family, you may want to use personal finance software to help you manage your checkbook and your finances. Personal finance software is usually very intuitive to use and extremely affordable. Besides keeping track of your checkbook (many software titles can directly download info from your bank), you can also keep track of credit card spending, investments and taxes. There are plenty of software titles to choose from and most titles are very affordable- costing less than $100. Titles include; Quicken, Quickbooks, Microsoft Money and Turbotax.
The Easiest Way to Balance Your Checkbook