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How to Balance Your Checkbook

"Last night I read a book that brought tears to my eyes--it was my bank book."

- Anonymous
Wall Street Wit and Wisdom

  1. Compare your monthly bank statement against your checkbook, and put a check mark next to each transaction in your checkbook that is documented on your statement.

  2. Find the ending balance on your bank statement.

  3. Add to that ending balance any recent deposits that are not checked off in your checkbook.

  4. From your new ending balance, subtract any recent withdrawals, checks, or debits in your checkbook that are not checked off.

  5. This final number should match up with the ending balance in your checkbook. If not, go back and see where you may have missed a transaction or a calculation. It's there, somewhere.

  6. If you do this every month, your life will be a lot easier.

 Types of Accounts

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