Money Matters || Balance a checkbook

Checking

	Make sure you check out the requirements on checking accounts, as some require a minimum balance to avoid service fees. When you get your monthly account statement, compare your balance against the financial institutions. If the fiqures do not match, double check your math and make sure you correctly recorded all checks, fees, deposits, withdrawals, and ATM transactions. If you can't find the error, contact your financial institution. Do not take a check that appears to be altered. Do not make any changes on a check written to you. Do not make any checks out to "Cash or Bearer," as this allows anyone to cash it if it was lost. You should make it payable to the financial institution or business your are cashing it at. Never sign a check and leave the rest blank. If it is lost or stolen the name and amount can be filled in by anyone. Don't write your credit card number on your check, it will encourage credit card fraud. If checks are lost or stolen, report it to financial institution and police immediately.

Make sure you check out the requirements on checking accounts, as some require a minimum balance to avoid service fees.

When you get your monthly account statement, compare your balance against the financial institutions. If the fiqures do not match, double check your math and make sure you correctly recorded all checks, fees, deposits, withdrawals, and ATM transactions.

If you can't find the error, contact your financial institution.

Do not take a check that appears to be altered.

Do not make any changes on a check written to you.

Do not make any checks out to "Cash or Bearer," as this allows anyone to cash it if it was lost. You should make it payable to the financial institution or business your are cashing it at.

Never sign a check and leave the rest blank. If it is lost or stolen the name and amount can be filled in by anyone.

Don't write your credit card number on your check, it will encourage credit card fraud.

If checks are lost or stolen, report it to financial institution and police immediately.

Keep things in balance

	Stay on top of your checking account - always keep a running account in your checking account register - write down each transaction (deposits and withdrawals) as you make it. Every month you'll receive a statement from your credit union that shows all your transactions for the month and gives your account balance. It's a good idea to reconcile your check register with your statement as soon as you receive it. It's really not that complicated and doesn't take that long. Once you get skilled at it, it'll be smooth sailing. When you're ready to balance your account, gather your receipts from the last month - deposits, withdrawals, ATM and debit receipts. Have your checkbook handy so you can look at the duplicate copy of the checks you've written, if necessary. Sit down with your statement and your register and verify deposits, both the date and the amount. Check off each entry as you verify it. Then check off the checks you've written, debit tranactions, and ATM withdrawals on your statement and verify them with your register. Compare the amount in the register and the amount on your statement. When your account is reconciled, your register balance and your statement balance will be the same. If they are not, then keep at it until you spot the error. If you can't find the error ask for help at your credit union. The back of your statement should give you step-by-step instructions and a simple format to follow. It will probably look something like this:

	Here is a typical check blank with the important segments circled.

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