Checkbook Balancing Tips Asheville NC

It is one of our least favorite things to do. No one wants to think about tracking their finances in Asheville, but it is the only way to make sure that we are keeping up with and not exceeding our available funds. Here are five tips for balancing that dreaded checkbook that, once started, will become second nature every month.

Al Davis
Davis Financial Planning, LLC
(828) 398-5050
82 Patton Avenue, Suite 720
Asheville, NC
Expertises
Retirement Plan Investment Advice, College/Education Planning, Estate & Generational Planning Issues, Middle Income Client Needs, Tax Planning, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Michael Collie
Collie Financial Planning, Inc.
(828) 654-8830
One Town Square Blvd, Suite 206
Asheville, NC
Expertises
Retirement Plan Investment Advice, Ongoing Investment Management, Charitable Giving - Trusts & Foundations, Helping Clients Identify & Achieve Goals, Women's Financial Planning Issues, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, AIF, CFP®, CMFC

Bart Boyer
Parsec Financial Management, Inc.
(828) 255-0271 Ext: *812
PO Box 2324
Asheville, NC
Expertises
Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Kenneth Frenke
Kenneth Frenke & Co.
(828) 654-9343
15 Loop Road, Suite 105
Arden, NC
Expertises
Ongoing Investment Management, Charitable Giving - Trusts & Foundations, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Financial Issues Between Generations, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MS

Ms. Anna C. Smathers, CFP®
(828) 257-5751
108 Patton Avenue
Asheville, NC
Firm
First Citizens Bank

Data Provided by:
Robert Blanke
Braeside Financial Planning, LLC
(828) 398-2816
37 Haywood Street, Suite 200
Asheville, NC
Expertises
Cash Flow/Budgets/Credit Issues, Retirement Planning & Distribution Rules, Planning Issues for Business Owners, Investment Advice without Ongoing Management, Newlyweds & Novice Investors, Middle Income Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Joel Kelley
Woodstone Financial, LLC
(828) 225-1730
30 Town Square Blvd
Asheville, NC
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, College/Education Planning
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, M.Ed.

Richard Manske
Parsec Financial Management, Inc.
(828) 255-0271 Ext: *812
PO Box 2324
Asheville, NC
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Advising Medical Professionals, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BBA, CFP®

Kenneth Downer
Kenneth Frenke & Co.
(828) 654-9343
15 Loop Road, Suite 105
Arden, NC
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Cash Flow/Budgets/Credit Issues, Middle Income Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA

Mr. R. Reich Gardner, CFP®
(828) 779-4002
82 Patton Ave Ste 208
Asheville, NC
Firm
The Financial Coaching Center, LLC
Areas of Specialization
Investment Management
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $50,001 - $100,000

Profession: Not Applicable

Data Provided by:
Data Provided by:

Checkbook Balancing Tips

It is one of our least favorite things to do. No one wants to think about tracking their finances, but it is the only way to make sure that we are keeping up with and not exceeding our available funds. Here are five tips for balancing that dreaded checkbook that, once started, will become second nature every month.

Your main tool in the war on checkbooks is the ledger. You get one with each box of checks that you order. It is where we write our beginning balance for that book of checks and the number and amount of each check written on the account. The ledger is also used for recording cash machine withdrawals, interest earned, and any banking fees deducted each month.

1. Keep all of your receipts. The main reason we balance our checkbook is to reconcile all the money we have spent that week or month. Receipts, especially for ATM withdrawals, remind us to record it in our ledger so we don’t forget anything.

2. Record all transactions on that account in your ledger book each day. This can be tedious but it works. I’ve seen people write in their ledger as soon as they write a check at the counter. Believe me, you’ll forget about ever doing it if you don’t do it straight away. People who don’t use duplicate checks are in the most trouble, unless they have a photographic memory.

3. Don’t believe the bank balance. We are easily fooled into thinking that the bank knows something that we don’t. The bank can sometimes be a day or more behind your ledger. If the bank says that you have $200 and your ledger says $95, believe the ledger. This is a major way that people overspend when they don’t record written checks.

4. Check your bank statement against your ledger at the end of each month. This is where you will find the amount of interest earned, banking fees, and ATM fees. It is usually these items that keep our checkbook balance from matching the bank’s balance at the end of each month. When a check clears, place a check mark next to it in the ledger so you know it is paid.

5. Record all automatic debits and direct deposits in your ledger. It is easy to forget things when you don’t see them. Your job should give you a check stub when you direct deposit so you can keep track of how much money you are making. Bills that come out automatically during the month need to be recorded on the day they are supposed to be debited so they aren’t overlooked.

It is easy to forget how much money we have and rely on the bank to tell us. The bank is not always up to the minute in its processing and this can present a problem for those of us who don’t keep track of your finances. Do yourself a favor - be proactive and use these tips to balance your checkbook and avoid overdraft charges.

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