Having a checking account offers you great financial freedom. But how often are you tracking your checking account? Do you know your current balance?
If not, it might be a good idea for a checking account management refresher course! What exactly does “managing your account” entail?
- Making sure you stay above any minimum required balance
- Avoiding overdrafts
- Staying below any transaction or withdrawal limits
- Being able to have a good idea of your account balances at any time
- Monitoring your account activity to protect against fraud
Here are a few ways to keep an eye on your account:
- Use a checkbook ledger – Even if you don’t ever write checks, be sure you record any purchases you make by using a checkbook ledger. This will help you know the exact balance of your checking account so that you can avoid overdraft fees.
- Use online or mobile banking – Some online and mobile banking systems include financial management tools to help you track your spending by category. This helps prevent overspending and tracks where your money is going. Online banking with Titonka Savings Bank can help you track your transaction history.
- Check your monthly statements- You should be receiving monthly account statements, either through the mail or through an electronic delivery system like eStatements. These allow you to see all purchases and deposits for your checking account for the last billing cycle.
- Call your bank and ask- If you ever have questions about your account, your bank is only just a phone call away! Your bank has full access to all activity on your account and can help put your mind at ease. Titonka Savings Bank is always prepared to answer any questions you may have.
Properly managing your checking account can prevent over-spending and avoid overdraft fees. Contact Titonka Saving Banks for your checking account options today!