Keeping Extra in the Checking Account

Category Banking

When writing checks for things, always round off to the next dollar in your checkbook register. All of those cents add up!

By kmurray

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By Elaine (Guest Post)
February 24, 20050 found this helpful

I totally disagree with this method. There would be no way to keep your checkbook balanced each month by doing this. You should have the exact amount in the book and do not spend more than you have in there, in fact always keep extra money in it just in case you make a mistake in your math, or forget a automatic charge.


It is way too expense to get overdrawn and may affect your credit rating. .

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By steveante (Guest Post)
February 25, 20050 found this helpful

Saving pennies is good but how about increasing each check to the nearest 10 dollar amount. You'd be amazed how this add up

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By Drew (Guest Post)
July 14, 20050 found this helpful

I disagree too, balance to the penny each month, I suggest. Also, get overdraft protection, so if you do bounce a check you won't be charged, but it will come out of your savings account instead. Also, to avoid fees, write the debit amount in your check register before you even hand your debit card to the cashier. I just thought of this and am going to try it myself now!

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October 9, 20080 found this helpful

Im a fanatic about balancing my checkbook!!!! Iv if off by one cent I
will spend hours finding it.. if all else fails I give it my hubby to find it! Somtimes he just waits and grins and says.. *want me to find it??


When Im worn to a frazzle I let him :) I have to find every last cent
and get it to balance!!!

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October 10, 20080 found this helpful

I had a business teacher in college who did this and it drove her accountant husband nuts! She said she considered it a nice surprise and he said there should be NO surprises in the bank account. They're now divorced. :-)

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May 8, 20090 found this helpful

The bank I deal with here in Canada does this for me! They round up every debit purchase to the next dollar and automatically deposit it into my savings account! It's surprising how quickly this grows!!

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May 8, 20090 found this helpful

I have done this for well over 30 years. I just let those cents accumulate. It allows me to have what i call, a cushion. When i get to the end of what money I think I have, I write deposit in th checkbook & then write in any checks or charges after that. After a while, I have enough in my account, to cover those charges on it. Years ago, when I closed out my checking account, to move to a bank closer to where I moved, I had over $500.00 in there. This is great, cause sometimes I have to buy something I hadn't planned on or had an unexpected bill & I was able to cover those charges.


They are written in the account after the deposit entry & get subtracted after the next deposit. I haven't balanced my checkbook in about 35 years. Not only is it a pain, it's very hard to account for those pennies & it use to drive me crazy. I just check online, make sure all the charges match my checkbook & look to find out that the bank thinks I have much more money than i think i have each time i check, which is about every week or so. It gives me peace of mind & makes it easier to manage things. If it was put in a savings, I wouldn't have the cushion to help when I needed it.

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Budget & Finance BankingFebruary 24, 2005
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