Ok, so I guess most people don't have checkbooks anymore - or at least don't use them regularly. But surely you still have to keep your checking account register balanced? I have not taken a survey on this, but as time passes I am finding out that more and more people I know haven't balanced their accounts in years, or even over a decade!
Am I the only one that still bothers with maintaining a balanced account? Perhaps I am behind the times. After all, with check card purchases the transaction clears the register in a day or two - so you don't have to worry about transactions outstanding for weeks or months. I will point out, however, that I use very few checks, yet there is always at least one that hangs out there for months before being deposited. It doesn't usually amount to much, but is still mildly annoying.
I guess I am just stubborn when it comes to this type of stuff. I want to know that all accounts are perfectly balanced to the penny and I like to know where all money goes. It's not that I am trying to be cheap (although I am frugal - there's a difference!), I just feel that it is good financial house keeping. How else can you budget a savings plan or other expenses if you don't even know how much money you are making and spending? Maybe everyone makes so much money now that they always have thousands of excess dollars hanging around in their checking accounts. Even in that case I would argue that the accounts should still be balanced and maintained in order to more effectively utilize savings or investing plans.
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