Instructions

1

Inquire at the bank, credit union or savings and loan about the various types of checking accounts. Ask about the services that are included with each, monthly fees, cost of checks, overdraft charges, overdraft protection, and ATM fees. Find out about online banking services are available. Look into free checking but weigh all the options.
2

Use the check register. Commit to writing down every check, debit card transaction, deposit and ATM withdrawal.
3

Reconcile the check register with the monthly statement from the bank. Add all checks, ATM withdrawals, debit cards expenditures for the month. Write down the total and label as expenses. Do the same with deposits, credit and money added to the account. Note this number is the account balance.
4

Subtract the total expenses from the total balance credited to the account. Look for all transactions to appear on the register, monthly statement and for the ending balances to equal the same number as expense minus balance.
5

Contact or visit the financial institution to discuss errors or discrepancies. Be prepared to detail the problem to the customer service representative.
6

Maintain good records. Keep a hard copy of the monthly statement for at least one year. Ask to receive statements in the mail or print them from the online banking service. Keep copies of all checks that are relevant to business or taxes.
7

Monitor all automatic deposits and automatic payments for accuracy and timeliness. Assume nothing.
8

Try to keep a cushion of at least a few hundred dollars in the checking account. Use these funds as a hedge against overdrafts and emergencies.