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(4.80 out of 5)Credit card and finance computations can make your head spin, we have developed common calculators to assist you.
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I used to be so flippant about money that I never knew how much I had in my wallet or banking account. I would constantly come up short on cash at the store register, and then I’d use my credit card to make the purchases instead. The additions to the credit card balances never seemed much at the time, but they sure did make a huge difference when the bill arrived. And there were plenty of times that I swiped my debit card for something and then found out (too late) that I didn’t have as much money as I thought I did in my account. Then there were fees because I had to use my overdraft, and sometimes I exceeded my overdraft limit and was hit with an even bigger fee. It was a never-ending cycle.
It’s very important to pay attention to your money. You need to know how much you have at all times. This includes your wallet and that cup holder in your car where you throw all your change. And it especially includes your bank account. If you don’t give a thought to how much money your account holds, you might float along intact for awhile, but eventually it will catch up with you. Your checks will start to bounce, you won’t be able to get cash from the ATM, and you’ll have more fees than you can keep up with. Balance your checkbook! Most banks make this easy for you by offering online services, and you can check your balance any time. Make it a habit to check the balance at least every week, and check it more often if you can. This will keep your account from becoming a disaster area. It’s easy to miss writing down an ATM transaction or check, and you’ll want to catch the mistake earlier rather than later.
If you share an account with someone else, keeping track of your money is even more important. I can’t tell you how many times my husband or I have forgotten to write something down or make the subtraction in the checkbook. This can quickly lead to a huge mess. Sometimes it’s better to appoint someone as the “Checkbook Keeper,” but make sure this is the person that likes doing this sort of thing, or you might be setting yourself up for a financial wreck. Just make sure every transaction is accounted for and both check account holders know how much money is in the account at all times.
My suggestion for you:
Always know how much available cash you have. Having a good idea of how much accessible money you have will help you avoid embarrassing and costly situations.
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