Managing a Checking Account

Use these checking account tips to better understand how to manage a checking account.

Keeping track of your account

As you write checks or make deposits, keep track of the amount of money remaining in your account. Your bank or financial institution will send you a monthly statement or list of the various withdrawals and deposits made on your account. If you have an ATM card, you can also access this type of information at an ATM. You can also access your account status at any time if you bank online.

To keep a current record of your checking account, use your check register. This tool usually comes with your checkbook.

When your bank statement arrives, compare it with your check register. Balance or reconcile your account by figuring out the amount of money you deposited, the amount you spent, and the amount you have left. Basic accounting software such as Quicken can also help you balance your checkbook.

Avoid writing bad checks

Don't write checks if you don't have enough money in your account. The consequences can be damaging.