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How Often Do You Check Your Accounts

May 10th, 2008 at 02:17 pm

This is something I've been back and forth about.

I don't check my bank account every day unless I'm expecting money. Bad, I know. But I know of people who check their accounts once in the morning and once at night. And they check their various credit accounts once a week or so. So I'm wondering if I should step it up.

On my list of things to do is create a spreadsheet of my debt. I did get all 3 credit reports and scores just haven't put it in a format that is accesible and easy to read. One day at a time.

Posted in Financial Organization | 21 Comments »

21 Responses to “How Often Do You Check Your Accounts”

  1. mom-sense Says:
    May 10th, 2008 at 02:23 pm 1210429426
    1210429426


    Baby steps are far better than sprinting. I started out sprinting, got side-tracked, discouraged, and quit. I'm now back with realistic achieveable goals in small increments.

    I do check my onliine balance daily - retirement and education accounts monthly.

  2. StressLess Says:
    May 10th, 2008 at 02:45 pm 1210430717
    1210430717

    I don't like to be surprised with something I forgot to record, and I also don't like to go through a big account-balancing when the monthly statement comes. To me, it's just easier to check at least every few days, and mark things as cleared in Quicken right away.

    I've made it as easy as possible for myself to log onto our several banks. I use Firefox instead of Internet Explorer, and put links to the different sign-in pages on my bookmarks toolbar. So I don't have to type in an address, or find it in the drop-down bookmarks list.

  3. ceejay74 Says:
    May 10th, 2008 at 03:08 pm 1210432090
    1210432090

    It depends on what your unique needs are. I found I needed to track everything to the penny--we have a lot of debt so we throw everything extra at it, plus we've only been frugal for a year. I check several times a day, and I keep a running spreadsheet with the checking-account balance at the top, and all expected expenses and income for the next couple months below. As things hit the checking account, I put the updated balance at the top of my spreadsheet and delete that item off it. You can see an example on the Number Crunch page of my blog.

    A couple months after starting that worksheet, I made another one where I tracked my total debt. Now I check debt accounts when I know a payment is about to hit, so I can list the payment on my blog and put the lower balance on my spreadsheet.

    Debt payoff is my ultimate goal, but first I needed to make sure we were living below our income, so that's why I did the 'number crunch' first, then the total debt spreadsheet. When I get ready to seriously save, I'll start a sheet for that.

  4. monkeymama Says:
    May 10th, 2008 at 03:23 pm 1210432997
    1210432997

    I am pretty big on checking my accounts but I really only check them once a day, at most. More like every 2-3 days, which I am sure is fine. I wouldn't check any less than once a month. Before the internet age, once a month seemed to suffice. I guess I like checking at least once a week, personally.

  5. Aleta Says:
    May 10th, 2008 at 03:33 pm 1210433632
    1210433632

    I check mine once a day. I like to check on the credit cards about once a week. Recently, my husband had someone to charge a couple of charges to his card and we had to close that account number down and open another. They actually duplicated his card. The only time his card was out of his possession was in a restaurant where they take your card. For a while now, I have taken my credit card to the front. Mine was also compromised in an Orlando FL restaurant. You have to be very careful and especially in tourist and high turnover areas.

  6. frugaltexan75 Says:
    May 10th, 2008 at 03:38 pm 1210433935
    1210433935

    I'm super anal about checking my accounts. Smile I use Yodlee *at least* once a day (and often twice) to check balances on all my accounts - credit, banking, retirement. Then I'll also log into individual accounts fairly often -- esp. ING because I like to see my interest adding up daily. Smile
    At least once a week I'll compare my Yodlee balances to what I have listed on my registers in my YNAB (You Need A Budget) to make sure I haven't missed anything.

  7. Ima saver Says:
    May 10th, 2008 at 03:54 pm 1210434845
    1210434845

    I check mine once a day now. I love the fact that i can do that. I also like seeing the interest add up every day.

  8. dmontngrey Says:
    May 10th, 2008 at 04:17 pm 1210436243
    1210436243

    I'll admit I only check mine once a week unless I am expecting some money to come in. My needs don't require me to check bank balances or credit cards more often than once a week.

  9. skydivingchic Says:
    May 10th, 2008 at 04:31 pm 1210437117
    1210437117

    I embarked on my "pay off the CC once and for all" journey in January of 2007, at which time I subscribed to Mvelopes. Since that time I've signed onto Mvelopes nearly every day, sometimes multiple times a day. Mvelopes downloads all my account info automatically, so I can check all my accounts at once. I also log into the individual accounts occasionally, especially the interest bearing accounts since I like to see the interest build up. The CC has been paid off for nearly a year now, but I still do a daily check to assign new transactions, check my envelope balances, and generally obsess over my finances. But then I naturally tend to be an obsessive and focused person once I put my mind to something. Now if I could only manage to get the same focus and obsession on consistently exercising, I'd be in good shape. LOL

  10. terri77 Says:
    May 10th, 2008 at 07:05 pm 1210446329
    1210446329

    Whenever I think to do it and more often if I'm expecting a deposit.

  11. campfrugal Says:
    May 10th, 2008 at 10:57 pm 1210460238
    1210460238

    I check mine every morning.

  12. ZenQueen50 Says:
    May 10th, 2008 at 11:28 pm 1210462107
    1210462107

    As I read through everyone's comments, I got a chuckle upon realizing I am not the only one who logs into my accounts to do a look-see.

    I remember once trying to not be so anal about checking my accounts each day. Bad mistake! For some odd reason, that's when the mistakes seem to occur. Of course, it would have helped had I been better about annotating all my transactions after making a purchase. Lesson learned.

  13. Blue Eyes Says:
    May 11th, 2008 at 12:27 am 1210465638
    1210465638

    I usually check my ING and credit union accounts each day. Other savings, retirement accounts, and mutual funds about one a week.

  14. luxlivingfrugalis Says:
    May 11th, 2008 at 01:07 am 1210468029
    1210468029

    Checking - once a day
    Investments - once a day
    Savings - once or twice a week
    MoneyMarket - once a day
    Retirement Accounts - twice a week or so
    DRIPS - when I think about it

    I'd do them all every day but it's a pain in the watusi. I did have Fidelity Full View for a while which is like Yodlee, but my 'antsy' gene got to worrying and I took it all down.

  15. Laila Says:
    May 11th, 2008 at 03:18 am 1210475908
    1210475908

    Thanks for all the responses. I have learned about 2 interesting programs, YNAB and Yodlee. Thanks guys!

  16. koppur Says:
    May 11th, 2008 at 01:36 pm 1210512980
    1210512980

    I check each of mine (checking, savings) a couple times a week and my CCs about once a week. It makes me more aware of where my money is going and where it needs to go.

  17. Broken Arrow Says:
    May 12th, 2008 at 03:32 am 1210563142
    1210563142

    I check mine during pay days. Big Grin

  18. Maismom Says:
    May 13th, 2008 at 11:20 pm 1210720854
    1210720854

    I check mine every morning after I turn on my PC at work.

  19. reflectionite Says:
    May 14th, 2008 at 01:01 am 1210726862
    1210726862

    i check my main pretty much every day or even twice. my credit accounts usually once a week as well as my online savings accounts. i try to record everything i spend in a spreadheet so i tend to do something financial every day.

  20. cptacek Says:
    May 14th, 2008 at 04:02 am 1210737770
    1210737770

    I've been checking mine every day lately to see if the stimulus payment has been deposited. Other than that, I usually look every Sunday when I'm balancing the checkbook.

  21. asmom Says:
    May 16th, 2008 at 02:27 am 1210904874
    1210904874

    I also use Yodlee which allows me to check once a day. It may seem like overkill but with ID theft and all that, I'd rather not find out something's wonky at the end of the month (or even the end of the week).

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