I did back when I got my first checking account in high school. I didn’t have a debit card, and I didn’t have online banking. Balancing my checkbook was the only way I could track my spending.
These days, I rarely write checks. My bills are paid online or through online bill pay.
If I need to write a check to send a person money, I log the amount in a spreadsheet where I keep track of the payment status of my bills. Once it clears online, I mark it out.
I check my bank account’s activity online just about every day so I can monitor our spending and take note of anything weird.
Manually balancing my checkbook would take up too much time and serve no real purpose for me.
However, I do see why balancing a checkbook can still have value for some people.
For instance, if you don’t bank online, you can keep track of your money. If you want to pay extra-close attention to where your money is going, logging your expenditures and subtracting the amount from your overall balance can certainly help.
And, some people use their checkbook ledger to deduct purchases made on their credit cards. That way, they make certain that they’re able to pay the credit card bill in full each month.
What about you? Do you balance your checkbook?