How to Regularly Balance Your Checkbook

Video Transcript

"This is financial adviser Patrick Munro talking about how to regularly balance your checkbook. Balancing your checkbook is important to do and when you do so, try to combine it with your budget activities on a monthly basis and also paying your bills. What you do is you set up a time where you get your bills out, your checking account as well, and once your statement comes in from the bank, you go back and pull out the receipt that you cut the checks out on and one by one, put it against your ledger to make sure everything balanced is going forward. It's a good feature, balancing a checkbook and I encourage all my clients to do so, that way you have a sharp focus are where your dollars are. Anywhere in a particular course of action in a month that you are in. Balancing a checkbook just like it says, balancing your assets versus your liabilities and always keeping everything in balance is a good course of a financial action. This is Patrick Munro financial adviser talking about how to balance your checkbook."