Balancing your account

It's kind of like taking out the garbage -- if you don't do it regularly you will have a mess on your hands. Because there are so many variables beyond paper checks, such as ATM transactions and fees, balancing the checking account has gotten harder, especially for people with joint accounts.

A few ways to help you keep up with your bottom line:

• Review your monthly bank statement. It seems too obvious to mention, but how many of us have tossed that envelope in a heap of papers and ignored it? Stop that. Take a close look and compare the statement to your check register.
• Take advantage of technology. You don't have to wait for the monthly statement to arrive to find out what is going on with your account. Many banks have 800 numbers you can call to find out your balance, what checks have cleared and the fees you have been charged. Balance inquiries can also be made at ATMs, or you may be able to access account information over the Internet. The information is usually updated every business day, so it's more current than monthly statements. Be careful, though -- some accounts at some institutions are not updated daily.
• Keep up with fees. Do you know what your bank is charging you to write more than a certain number of checks, dip below your minimum balance requirement, visit the ATM or a teller, place a stop payment or bounce a check? Reading the inserts that come with your account statement can help you stay informed of changes in bank charges.
• Record fees and all transactions immediately. If you have a debit card, it takes more vigilance to keep up with what you are spending. If you aren't the type to write down every debit card purchase at the merchant's counter, keep your receipts in one place. Put them between the pages in your check register or in a designated envelope, and then update your checkbook every few days. Or, start keeping track of your transactions on the back of an ATM receipt and wrap it around your debit card. Every time you reach for your card, you will be reminded to jot down the amount.
• Designate an overseer of your joint account. Somebody needs to do it. If you share an account, make sure one of you has the responsibility of keeping up with it. Try to agree on where you will keep receipts and what checks will be written each month.
• Use cash for the little stuff. Balancing your account becomes easier -- especially with joint accounts -- if you minimize transactions by taking out enough cash each week for lunch, gas, the dry cleaner and other daily expenses.
• Get checks with carbon copies. A good way to keep track if you write a lot of checks.
• Have your canceled checks sent to you in your statement each month. The opposite of this is "check safekeeping," which means the bank keeps copies of canceled checks but will provide either the original check or a photocopy upon request.
• Use overdraft protection. Some banks give you the option of linking your checking account to another account, such as savings, and will automatically make the transfer if you don't have enough money to cover a transaction.
• Go with direct deposit. Having your paycheck or federal payments such as Social Security deposited electronically avoids mail delays and lost or stolen checks -- all of which can help you avoid bounced checks.
• If you buy checks from your bank, be aware that the cost is automatically charged to your account, which may leave you coming up short without realizing it. And some banks charge up to $24 a box for those little 3-by-6-inch pieces of paper. To avoid that, consider using an outside check or financial printer where you can usually get a box of checks for $5 or less.
• Round off your transactions to the next dollar. Whenever you write a check or make a debit card purchase, record it as the next highest dollar figure instead of to the penny. For example, if you spent $20.16 at the dry cleaner, record it as $21. This can help you avoid overdrafts, cover account fees and may even leave you with a few extra dollars at the end of the month.