Checking Account Tips – Balancing Your Spending

Keeping track of your spending habits can seem like a delicate balancing act. After all, these days, checking accounts have more features than ever which make it incredibly easy and hassle-free to access your funds. With the growing popularity of check cards/debit cards, online checking and easy transfers, it can feel overwhelming to try and keep your checking account balanced and reign in your spending habits. Fortunately, the best banks understand these challenges and some, such as Aurora Bank (Equal Housing Lender, Member FDIC), have stepped up to the plate to help you take control over your checking account (instead of letting it control you!)

Staying On Track and In the Black

Having a checking account, whether it’s your first one or you’ve been using it for a while, is a serious responsibility. It takes some self-discipline to be able to keep your account balanced. Not knowing your account balance can lead to overdraft charges and other fees that can quickly put you in the red. The most common ways to keep your account balanced is to use your check register (which came with your checks) to write down each transaction when it happens, then add and subtract the numbers to arrive at your balance. Another common way to keep track is to save all your receipts throughout the day and then do the math at the end of the day to arrive at your checking account balance.

A common mistake that many checking account owners make is to rely on the balance they see on the ATM. The problem with this is that the ATM doesn’t always have the most recent balance available, so it may show that you have more money in your account than you actually do.

The Advantages of Online Banking

If you’ve signed up for online banking, you can also check your account information securely over the web. Your online bank statement should easily compare to the one you’ve been keeping track of all this time, and both numbers should add up correctly. Sometimes, bank fees and other charges might appear in your online statement, so make sure you account for these in your checkbook ledger too. It might seem like a cumbersome process, but being able to reconcile your checking account every few days helps you stay on track with your balance and be able to spend or save accordingly.

Using a Software Program

There are plenty of budgeting and money management software programs available that can help you keep track of your spending and savings. Some of them can even import your bank statements directly into the software, saving you the tedious task of having to update it all by hand. By taking a few minutes each day to update your account and see where your money is being spent, you can better manage your finances and potentially save hundreds of dollars every month. It’s just one small step that can lead to greater savings and better money management habits in the future.


Jess Hall writes out of Jersey City about a variety of personal finance topics, including how to take advantage of online banking features offered by institutions like Aurora Bank. She likes to stay updated on the latest happenings of her bank of choice, reason why she tends to follow their activity on http://www.squidoo.com/lensmasters/AuroraBankFSB on a regular basis.