Information for children and young adults up to 18 years of age.

It's Important to Balance your Checkbook

See below for definitions of the highlighted words.

Balancing your checkbook is something that needs to be done every month shortly after you receive your monthly account statement.  Follow these simple steps to successfully balance your checkbook:

1.  Review your statement and confirm that each transaction shown on the statement is written in your account register by placing a checkmark next to the transactions.

2.  Add to your register any deposits, service charges, interest paid and ATM transactions that appear on your statement.

3.  Subtract from your register any account deductions including fees and ATM or electronic deductions that are not already listed on your statement.

4.  Your total should equal the current balance shown on your checking account Statement.

• Keeping track of your checkbook can be difficult at times so here are some simple steps that can help you.
  
• Record all checks you write and deposits you make in your checking register right after the transaction.
  
• Write down your withdrawals as soon as you write the check.
  
• Save ATM receipts and record your withdrawals as soon as possible.
  
• Compare your monthly statement to your own check register to make sure you have recorded all the transactions in your register.

Glossary of Terms
account statement:  a monthly review of your financial transactions including deposits, withdrawals, service fees and interest paid to you.

account register:  a booklet that you use to track your financial transactions.    

ATM: Automated Teller Machine.  A terminal where customers can deposit and withdraw cash by means of a magnetic ATM card.