How often do you think about your checking account? You might not think about it that much. Your finances are on auto-pilot, and there’s no need to look at your checking account unless there is an emergency.
Or is there?
Managing your checking account is a habit those who are smart with their money have mastered. But what exactly does “managing your account” entail? A few things:
- Making sure you stay above any minimum required balance
- Avoiding overdrafts
- Staying below any transaction or withdrawal limits
- Being able to have a good idea of your account balances at any time
- Monitoring your account activity to protect against fraud
Here are a few ways to keep an eye on your account:
- Use a checkbook ledger or duplicate checks- if you still write checks, be sure you record any purchases you make with a check in the ledger that came with your checkbook or use duplicate checks. This will ensure you aren’t surprised when a check clears.
- Use online or mobile banking – if you have access to an online banking or mobile banking account, you will be able to track your transaction history. Some online and mobile banking systems may also include financial management tools to help you track your spending by category. (LSB offers this!) This helps prevent overspending and helps track where your money is going.
- Check your monthly statements- you should be receiving monthly account statements, either through the mail or through an electronic delivery system like eStatements. These allow you to see all purchases and deposits for your checking account for the last billing cycle.
- Use a telephone banking service or text banking – telephone banking and text banking are other services most banks offer to help you monitor your balances and verify recent activity.
- Call your bank and ask- if you ever have questions about your account, you are well within your rights to call and ask your bank. Your bank has full access to all activity on your account and can help put your mind at ease.
Keep in mind that managing your account isn’t a once-a-month type of thing, but rather a regular activity you should be doing. This allows you to stay on top of your finances easier and avoid any surprises that you don’t want to have any way.
If you would like to know more or enroll in Online or Mobile Banking from Heartland Bank, stop by or call us today to start the process and have better accessibility to your checking account.
Heartland Bank, Member FDIC