Things You'll Need:
- All you need is: a transaction register, a notebook to plan for monthly expenditures, ink, pencil, a strong will and lots of discipline.
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Step 1
First, call your bank or check your personal account balance on-line. Many people trust the bank to the point of thinking that there will be no errors made on behalf of the bank – NOT TRUE!!
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Step 2
Next, begin writing down each check or bank card transaction in your transaction register provided at no cost from the bank. Regardless of what the transaction is, how small or large, write down each one from monthly bills, gas purchases, grocery stores purchases, ATM withdrawals, etc. Be sure to check your on-line transaction registers daily in order to ensure that no bank fees have unknowingly been accessed to your account. By writing down each transaction, it allows the accountholder to track expenditures. This further allows him/her to notice patterns of both senseless and sensible spending.
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Step 3
You may wonder why it is important to check your transaction register up against the transaction register of the bank. It is significantly important, and here’s why. I was once co-workers with a person that worked in a bank. This individual told me that it is not uncommon for a bank teller to have a slip of the finger when keying in a transaction. For instance, if you wrote a check in the amount of $51.43, it is not uncommon for the bank teller to key in $51.44. In so doing, he/she has gained a penny for the bank inadvertently, and you have lost a hard-earned penny.
