First things First!

#1.  Keep your checkbook Properly   Recorded and  Balanced

It sounds so simple, doesn't it? Then why do so few people do it?  Bank officers tell horror stories of  people who bring in checking accounts so far out of balance the only thing that can be done is close them out and start over with a new account. The math involved in keeping and balancing a checkbook is basic addition and subtraction, and yet most of us have experienced the frustration of an account that won't balance. Why?

Rush, Rush, Rush

Do you ever get in a hurry and forget to record the proper amount?  We all have experienced being in this long line of impatient people at the grocery store, and we are scared that someone might have to wait thirty seconds longer while I record my check.  Then when I get home, I can't remember the right amount.  I know;  I have done it.  Or sometimes we record the checks, but we never bring the balance forward.  Maybe we don't want to know how low it is.  I have known people who don't reconcile or balance their checkbooks for six months at a time.  We must begin keeping an accurate checkbook.  If you have trouble recording your checks, you can try using duplicate checks.  Most banks sell No Carbon Required paper or carbon checks, which automatically record your checks as you write them.  You still have to carry your balance forward and reconcile your checkbook to the statement each month, however, but you will know the exact deatails of each check you write.  You can also use a similar system for busines accounts.

This is the first thing I want you to do in your finances.  Balance your checkbook and be sure to go over your bank statements.  Lets all start here.  Catch up now - if need be.  Do it today!

Financial Assignment for December:

Balance Check book - Go over all Bank Statements