GOAL SETTING - PART 3

     In yesterday's post, I start outlining the steps which I need to take in order to get control of my checkbook to the point where I will be able to maintain an accurate balance to my checking account, the ultimate aim being of course, to balance my checking account each month.  Step 1, to reiterate, is to start recording each transaction on a check register;  whether a paper check, on on-line debit transaction, or a phone debit transaction; any transaction which flows through and affects the checking account.

• Step 2 - It is necessary to find out exact where you stand with your account balance at a particular point in time.  It is necessary that you either go to the bank, and sit down with a banker.  They can pull your account information on the computer.  You need to know what the current account balance is.  You then need to know all the activity that the account has been through;  the farther back you can go, the better-a month, two months, or three months.  You can also get this information via the telephone.  Most banks today, have phone systems that will allow one to receive point-in-time account information, and also account activity.

With this information in mind, you can now put together a check register, and get an accurate account balance.  


I'll continue on with Step 3 in Tommorrow's post