Thursday, April 2, 2009

No Need for a Cash Advance if you Properly Balance Your Checkbook

Properly Balance Your Checkbook

50/365: Hanging in the balanceThere are just as many reasons to balance your checkbook each month as there are opportunities to secure a same day cash advance. I'll begin by sharing five excellent reasons why you should consider balancing your checkbook.

Five Good Reasons in a Nutshell

  1. Mistakes do happen, especially if you forget to post a transaction in your register. These mistakes — or bounced checks — could cost you $25 or more in incurring fees for each “mistake.” I'll reiterate: bounced checks could cost you $25 + in incurring fees for EACH bounced check. That's a good enough reason to balance your checkbook, isn't it?
  2. When your records are balanced and in order, you're more assured that your record's match the bank's.
  3. Remember that banks are susceptible to mistakes as well, but with their advanced technology, it's more likely that you'll make a mathematical error in the register of your checkbook before the bank does.
  4. If you do find a problem (or the bank does), you don't have to forage through months and months of transactions to decipher the issue.
  5. Become a consumer minority. Research shows that a whopping 87% of consumers forget to reconcile their checking accounts.

This is How:

Record Everything

The first step is to record everything into your checkbook register: deposits, withdrawals, checks, debits, any charges at all. ... click here to read the rest of the article titled "No Need for a Cash Advance if you Properly Balance Your Checkbook"

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