Tips on Balancing a Checkbook

Series Summary

Balancing your checkbook is an important part of managing your personal finances, and for creating a personal budget. Balancing a checkbook does not have to be impossible or even terribly difficult, but it does take keeping up with it. Additionally there are practical tips and techniques that can help you more effectively balance your checkbook and assess your checking account in real time. If you would like to learn how to balance your checkbook, and learn new tips and techniques for creating and managing a personal budget, you can learn for free from one of our experts.

In this free financial video series, learn how to balance a checkbook and create a personal budget from financial expert Doug Benson. Doug will teach you how to use your bank statement to balance your checkbook, how to understand your account transaction register, how to use your account transaction register to balance your checkbook, how to compare posted items on your checking account, how to identify outstanding transaction on your checking account, how to calculate a reconciled checkbook balance, how to find and correct checking account errors, how to use online bank statements, how to get caught up with your checkbook, how to guard against fraud and identity theft, how to create a personal budget, how to manage a household budget, and how to save up money for emergencies.

Video Transcript

"Hi, this is Doug Benson on behalf of Expert Village. I'm going to show you how to balance your checkbook and as a result become a better manager of household finances. Before we begin we should gather the items needed to properly balance the checkbook. You may also hear the function of balancing your checkbook to the bank statements referred to reconciling. Even if it's been several months since the last time you balanced it or even if you never balanced it at all. There is no time like the present to get started to establishing good financial habits that will over time save you money. To get started you are going to need your checkbook more specifically the register portion of the checkbook, your last bank statement, a calculator and a pencil or two. It will also be helpful to set aside at least 15 minutes of time so that you can concentrate on your work. Watch my next segment as we continue to learn more about balancing your checkbook and becoming a better manager of household finances."