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December 7, 2020 By Liz Weston

Q&A: Reconciling checking accounts

Dear Liz: Any suggestions for the best way to catch up with monthly statements from checking accounts? Friends and I need to know: Should we start from the first one we missed or work backward?

Answer: With the switch to online banking, many people don’t reconcile their checkbooks anymore. In fact, many don’t use checks, so there’s no risk that one will clear belatedly and trigger overdrafts.

That’s not to say overdrafts aren’t possible or that errors and fraud don’t happen. People should review their transactions regularly, even if they don’t reconcile.

To answer your question, typically the best way to start reconciling your checking account is to start from the first month you missed and work forward.

Filed Under: Banking, Q&A Tagged With: banking, checking account, q&a
September 27, 2019 By Liz Weston

Friday’s need-to-know money news

Today’s top story: How to get the most out of the Walmart Rewards Mastercard. Also in the news: A new checking account that searches for the best interest rate, the pros and cons of automatic bill payments, and how to protect yourself from Doordash’s latest data breach.

How to Get the Most Out of the Walmart Rewards Mastercard
Maximize your rewards.

Wealthy households keep 27% of their assets in cash. A new checking account aims to help you make the most of it
Finding the highest interest rate.

Pros and cons of automatic bill payments
Misusing this feature could cost you more.

Doordash’s Latest Data Breach: How to Protect Yourself
Change your password ASAP.

Filed Under: Liz's Blog Tagged With: automatic bill payments, checking account, data breach, Doordash, interest rates, Walmart Rewards Mastercard
July 26, 2019 By Liz Weston

Friday’s need-to-know money news

Today’s top story: Why you need a midyear budget check-in. Also in the news: Betterment hikes APY to 2.69% and adds checking and savings accounts, upgrading from your broker, and why you should always pay for a rental car with a credit card.

Why You Need a Midyear Budget Check-In
Prepare for the holidays and next year’s taxes.

Betterment Hikes APY to 2.69%, Adds New Checking, Savings Accounts
Better rates than typically seen.

Wealth Management: Is It Time to Upgrade From Your Broker?
Is it time for an expert?

Always Pay for a Rental Car With a Credit Card
Get your insurance for less.

Filed Under: Liz's Blog, Uncategorized Tagged With: banking, Betterment, brokers, budget, budgets, checking account, rental cards, savings account, wealth management
July 17, 2019 By Liz Weston

Wednesday’s need-to-know money news

Today’s top story: 4 types of investment accounts you should know. Also in the news: Why you should keep the bare minimum in your checking account, steps to take when you’re struggling with car payments, and why what you don’t know about your parents’ finances could ruin yours.

4 Types of Investment Accounts You Should Know
Finding the right account to meet your needs.

Keep the Bare Minimum In Your Checking Account
Putting your money to work.

Struggling with car payments? Take these steps before you get into trouble

What You Don’t Know About Your Parents’ Finances Could Ruin Yours

Filed Under: Liz's Blog Tagged With: banking, car payments, checking account, Investing, investment accounts, older parents and money
December 12, 2017 By Liz Weston

Tuesday’s need-to-know money news

Today’s top story: Paying for fake organic food. Also in the news: People who eschew checking accounts, 4 questions for your local organic farmer, and defrauded students are losing their debt relief.

The Dirt on ‘Organic’ Food: You May Be Paying for Fakes
Be on the lookout.

Checking Account? No, Thanks, Say Those Who Dislike Banks
It could be costly.

4 Questions for Your Local Organic Farmer
Making sure you get your money’s worth.

Debt relief for defrauded students halted under Trump, says report
Reversing Obama-era policy.

Filed Under: Liz's Blog Tagged With: banking, checking account, defrauded students, diploma mills, fakes, organic, organic food
November 22, 2016 By Liz Weston

Tuesday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: How to avoid checking account disasters over the holidays. Also in the news: Ideas for Giving Tuesday, where to find the best Black Friday cell phone deals, and the 7 highest paying jobs for men and women.

Dodge Checking-Account Disaster Over the Holidays
Be vigilant.

4 Ideas for Giving Tuesday 2016
Giving back after all the shopping is done.

Best Black Friday Cell Phone Deals
Choose wisely.

The 7 highest paying jobs for men and women
Is yours on the list?

Filed Under: Liz's Blog Tagged With: Black Friday, cell phone deals, checking account, fees, Giving Tuesday, jobs
August 5, 2016 By Liz Weston

Friday’s need-to-know money news

W-2 Tax heroToday’s top story: Mistakes that could result in a tax penalty. Also in the news: The hidden dangers of not having a will, how to divorce your joint checking account, and what the real value of $100 is in each state.

7 Mistakes that May Result in a Tax Penalty
How to avoid them.

5 Hidden Dangers of Not Having a Will
Time to get your affairs in order.

How to Divorce Your Joint Checking Account
Tying up loose ends.

The Real Value of $100 in Each State
what’s it worth in your state?

Filed Under: Liz's Blog Tagged With: checking account, Estate Planning, joint checking account, money and divorce, tax penalty, Taxes, will, wills
August 4, 2016 By Liz Weston

Thursday’s need-to-know money news

shutterstock_38185810-2Today’s top story: What to do when you’re denied a checking account. Also in the news: What a credit score of 600 means, using fantasy football strategies for your investment portfolio, and how to teach your kids to budget.

Denied a Checking Account? What to Do Now
Finding affordable alternatives.

My Credit Score Is 600 — Is That Bad?
Could be worse. But could also be better.

3 Winning Fantasy Football Strategies for Your Investment Portfolio
Get your draft picks in order.

9 Ways Parents Can Teach Young Kids to Budget
Creating financially sound adults.

Filed Under: Liz's Blog Tagged With: checking account, Chexsystems, Credit Score, investment portfolios, kids and money
September 12, 2014 By Liz Weston

Friday’s need-to-know money news

homebuyerToday’s top story: How to determine if you’re financially ready to buy a house. Also in the news: Are free checking accounts becoming too expensive, understanding the higher education tax credit, and the decisions you need to make before walking down the aisle.

Are You Financially Ready to Buy a House?
How to determine if you’re ready to make one of life’s biggest decisions.

Time to Kiss Your Free Checking Account Goodbye
That “free” checking account could be awfully expensive.

Writing Off College-Related Expenses
Understanding the education tax credit.

5 Financial Decisions You Should Make Before You Get Married
Deciding now could spare you from heartache later.

The 5 Best Places to Hide Emergency Cash at Home
Alternatives to the old under the mattress trick.

Filed Under: Liz's Blog Tagged With: buying a home, checking account, education tax credits, free checking, real estate, tax credits, Taxes

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