ND Chic said...I think that if I can see where every penny has gone, all lined up in a neat organized fashion then it will be a bit easier for me to stay on task.
Wow! I keep my checkbook balanced to the penny and it drives me nuts if it isn't. I would definitely overdraft if I didn't keep it. I think that it would be harder to start it if you never have. What benefit is there to you to keep a checkbook now?
1.) I'll be able to see exactly what types of purchases I made each and everyday. It only takes a few hours before you forget where you spent that $4.75.
2.) I do have panic moments still about the bank account and going into overdraft. Keeping really good track and balancing the checkbook is just the responsible way to handle money and lose the overdraft fears.
3.) When I tell my husband that he spent $90 last week (or whatever whenever) and he calls me a liar I can show him on paper the $90 and where it went.
4.) I know that a huge part of living responsibly is being organized. Balancing the checkbook is just one aspect to living that responsible life.
Ok, today I spent $9.56 on groceries. It's a bit more than I would like to have spent but I avoided SOOO many temptations all day long. I'm quite proud of myself. I REALLY wanted a frozen coke, a sandwich (way out of the budget by the way), taco bell, a diet sunkist and my oh my how the list goes on, ooh and PB m'n'ms. But I didn't buy any of it. NO indulgences today, hooray! I've $27.37 left for the rest of this week and I am cutting it close : (
Side note: My mom has lost 2 houses (the second wasn't exactly her fault) and has been asked to leave one apartment (due to back rent). My dad hides money from his wife (not my mom) because he can't control her spending. When my parents were married my dad used to look at the checkbook and spend the "extra" money, even though it was ALL allotted for bills later on in the month. I literally lived off of credit cards for at least 7 years (I've always been employed full time, my husband and I have just always spent more than we made). I'm not coming from very financially stable stock here. It really shouldn't come as a surprise that I don't technically balance our checkbook.
Just found you while browsing the PF blog world, and like your approach. With £7.22 in my purse, (I guess that's around $12 !) I am at the point where every penny matters. Will have a good read and investigate your methods later :)
ReplyDeleteI love the side note, I too was raised by financially irresponsible people, good people but nuts with money.
ReplyDeleteThat makes perfect sense to me. I guess that I assumed that even though you didn't balance your checkbook, you had another method that worked for you. I find it very helpful to balance my checkbook and I'm sure that you will, too. My parents recently filed for bankruptcy so I understand where you're coming from.
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