Balancing checkbooks

Here are the reasons you should balance your checkbook monthly

Do you faithfully balance your checkbook to the penny each month? Balancing your checkbook is one of the most basic habits for good money management, yet millions of Americans don't do it on a regular basis.

“Whatever the reason, there's a strong case to be made for keeping an eye on what's coming in and going out of your checking account. Knowing how to balance your checkbook -- even if you don't write a lot of checks, or any at all -- is an important skill to master."

You might consider balancing your checkbook to be an old-fashioned chore. After all, thanks to online and mobile banking and budgeting apps that track your spending for you, who needs to write down by hand what they spend or deposit into checking each month?