How to Use Online Bank Statements

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How to use online bank statements to balance your checkbook in this free video clip on personal finance.

Part of the Video Series: How to Balance a Checkbook
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Video Transcript

I'm going to show you how to balance your checkbook and as a result become a better manager of household finances. We have been balancing our checkbook register to a paper statement that arrived in the mail after the bank closed out the months, printed the report and put them in that mail. This could be days or even weeks after the transactions are actually occurred. One feature of modern banking is online access. Whether or not you use online banking for bill paying or account transfers you can still look at your transactions online. This will be the same information that is included on your bank statement with the added advantage of not having to wait till the end of the month. The transactions that appears on your online bank activity are in real time and up to the minute. By using the same principles as we did with the paper statements we can balance our checkbook to the online statements at any point during the month. You can check off transactions in your transaction register on a weekly or daily bases as often as you like. This feature of accessing your banking activity online will let you see what's coming in and going out of your account as it happens. Watch my next segment as we continue to learn more about balancing your checkbook and becoming a better manager of household finances.


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